Combination of better inflation and economic data likely to boost Fed's confidence
Mar 24, 2015 15:18 pm UTC| Commentary
US consumer price index rose 0.2% in Feb [Consensus UniCredit: 0.2%]. The monthly increase, the first since Oct, was broad-based, with advances in shelter, energy, and food indexes all contributing. The CPI ex food ...
Gasoline prices push up US inflation in Feb, but rebound likely to be short lived
Mar 24, 2015 14:59 pm UTC| Commentary
Consumer prices rose by 0.2% (month-over-month) in February, bang-on market expectations. Core CPI (excluding food and energy) also rose 0.2%, ahead of expectations for a 0.1% M/M gain.Energy prices rebounded in Feb,...
Mar 24, 2015 11:02 am UTC| Commentary
The depreciation of the EUR is mainly due to monetary policy divergence between the ECB, which is becoming more and more expansionary, and the US Fed, which is approaching policy tightening.In trade-weighted terms, the EUR...
China's decline in HSBC PMI suggests GDP growth could decline below 7% y/y in Q1
Mar 24, 2015 10:03 am UTC| Commentary
The flash estimate for Chinas HSBC/Markit manufacturing PMI in March declinedby more than expected to 49.2 (consensus: 50.5, Danske Bank Markets: 50.6) from afinal reading of 50.7 in February. This is the lowest level for...
Global crude throughput volumes should remain robust
Mar 24, 2015 09:38 am UTC| Commentary
A major variable underpinning our bearish outlook is our belief that global throughput volumes will remain robust.Refinery margins have held up, despite lower-than- expected oil products demand. This is primarily owing to...
Stable fuel oil outlook, but refinery supply increases
Mar 24, 2015 09:33 am UTC| Commentary
Fuel oil dynamics have shifted dramatically in the past five years.Declining apparent demand for dirty residual fuel oil, as greener products take precedence, is occurring in tandem with declining production yields.Added...
China and Russia – Two of the larger fuel oil players
Mar 24, 2015 09:17 am UTC| Commentary
Chinas appetite for fuel oil has diminished sharply.The countrys decision to allow independent (also referred to as teapot) refineries ample access to crude supply was a major reason for the 17% drop in fuel oil imports to...
Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility
Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget
Biden administration tells employers to stop shackling workers with ‘noncompete agreements’
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects