This week’s economic calendar is relatively quiet, especially compared to the hustle and bustle of last week. Monday’s non-manufacturing ISM report starts the week off, followed by Wednesday’s consumer credit report, Thursday’s jobless claims data, and Friday’s US trade statistics and consumer sentiment. The impact of this week’s non-manufacturing ISM report could be somewhat subdued […]
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MikeMcD82
June’s ADP release came in at -473,000, implying there could be some downward pressure placed on forecasts for tomorrow’s payroll data. Currently, the market is forecasting a -350,000 change in payrolls; I believe we could see this number actually come in around -440,000, which is still much better than the six month average, but below […]
In some upbeat news from China, the Chinese Federation of Logistics and Purchasing (CFLP) index and the CLSA manufacturing index both demonstrated marginal gains in June. The CFLP increased to 53.2 from 53.1 the previous month, while the CLSA index edged up to 51.8 from 51.2. This performance has been driven by China’s extensive stimulus […]
As I highlighted in my column on TheStreet.com on Monday shipping stocks will be highly susceptible to any major economic news impacting market’s views on the long-term outlook. This mornings consumer confidence number was proof of that, tumbling to 49.3 compared to 54.8 last month. Both the present situation index and the future situation index […]
Despite the shortened work week, we have a rather busy schedule of US economic data releases, climaxing with Thursday’s US employment data. Last month’s payroll data caught the market by surprise coming in well above expectations, demonstrating the lowest level of job losses since September 2008. But, the big question remains, was this start of […]
Forward Freight Agreements (FFAs), especially for capesize contracts, appreciated significantly today leading to strong trading in the dry bulk sector. BDI FFA Curve Source: Imarex BCI FFA Curve Source: Imarex Market and Sector Performance:Source: Bloomberg, my calculations, Capital Link Shipping
A recent release by Brazilian officials showed that iron ore exports fell to 15.3mn tones in May, a drop of 35% from last month and a 2009 low. This is likely due to diminishing demand by the country’s largest custom, China. A note released by Goldman Sachs confirms this theory stating, “Heavy rains in the […]
If anyone is interested here is a piece I recently published on H1N1 for a patient advocacy group: http://patientsandpatents.wordpress.com/2009/06/02/a-historical-view-of-flu-pandemics-a-reason-to-remain-vigilant/ Additionally, if you find that interesting you may also enjoy this supplemental piece, which highlights companies that could benefit in the unfortunate event of a H1N1 resurgence.http://news.newamericamedia.org/news/view_article.html?article_id=38fadb7a58ef4addc245a451e474b8a1
As I have discussed in great detail in my TheStreet.com articles; I believe the recent rally in the Baltic Dry Index (BDI) cannot be sustained, and we are likely to see a pullback in the index; along with dry bulk shipping and mining sector stocks. The BDI’s rally has been driven almost exclusively through China’s […]
I just wanted to let everyone know that I have also started writing for TheStreet.com, and my articles can be found here:http://www.thestreet.com/author/1145075/michael-mcdonough/all.html