February 29th links: Leap this

Markets:

Greece 2 Year 5 Year 10 Year
Portugal 2 Year 5 Year 10 Year
Ireland 2 Year 5 Year 10 Year
Spain 2 Year 5 Year 10 Year
Italy 2 Year 5 Year 10 Year
Belgium 2 Year 5 Year 10 Year
France 2 Year 5 Year 10 Year
Germany 2 Year 5 Year 10 Year

Global Macro

  • Whats really behind the spike in oil prices? Macroscope
  • J-15 (Su-33 copy) spotted on deck of China’s new aircraft carrier Business Insider still years away from operational ability, but something to watch
  • 2012 will be year of the Central Bank: Sprott Market Folly

United States

  • US consumer sentiment lifts to 2008 levels  Bloomberg here’s a Scotty Barber chart tracked against UE
  • But durable goods orders decline across the board in January – down 4% in a big miss Calculated Risk worst in 3 years
  • Whilst house prices fall 4% in 2011 according to Case Shiller Business Insider fall 0.5% in December, 8 months in row – some bottom
  • Real house prices down to 1990’s levels Calculated Risk that does not look like a bottom – but closer
Europe
  • German inflation on the rise – up 2.3% expected 2.1% – chart here plotted against IFO business index
  • ECB says Greek bonds no longer count as collateral due to S&P Default status  ECB
  • Has the LTRO caused a bubble that will pop? Business Insider another chart here
  • Ireland to hold referendum on EU Reuters
  • Europe’s fiscal compact is empty Project Syndicate
  • Oil in Euros hits another high  Prag Cap
  • Europe in housing market agony – great table BBC
  • Thinking of buying an Italian villa (yes!) then hold off Soberlook itta willa getta mucha cheaperer?
Asia
  • Asian growth will be fuelled by coal The Economist
  • Housing bubble in Vietnam Brazilian Bubble
  • Japan retail sales surge on car sales BBC
  • China builders feel bite as projects drift and fail WSJ
  • Japan’s Fukushima nuclear plant still vulnerable AP

Local:

Miscellaneous:

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Comments

  1. Up: grains, ore, USD,

    More like “rocket” for ore. Up 2.5% to $143. It is looking ore-fully good at the moment for ore.

      • puuulease. so what has happen to port inventories during this rise in price?

        BTW can you remove the incorrectly tagged duplicate re: lorax …and this sentence when done.

        • You seem to be saying the PBOC can have no effect on pricing. Which seems especially silly given the reversal came immediately following the RRR cut. Inventories remain high of course…but let’s not start that again.

    • An Epic Australian bust Seeking Alpha slightly macrobated, slightly over the top?

      “Also, the falling exports would create an immediate current account deficit leading to capital flight, currency collapse, and likely inflation. The Reserve Bank of Australia will not have an option of monetary easing at all.”

      That’s not true. It should read “the falling exports would cause an explosion in the already chronic CAD, leading to etc etc etc”

      The RBA has little option for further monetary easing …thank God!

  2. Hollywood is indoctrinating your kids via The Lorax Business Insider

    making them anti mining?

    • The original Dr. Seus ‘The Lorax’ is a cute little story about the dangers of increasing industrialisation without regards for the ‘negative externalities’ created. The ‘Once-ler’ discovers a natural resource and sets about exploiting it for profit in an unsustainable way. Despite the warnings of the Lorax, the Once-ler ends up consuming all the resource, polluting the environment and destroying the lives of those who relied on the resource to survive.

      I’ve read it to my three year old many times and I’m looking forward to taking her to see the movie, although to get a movie script out of it they will have to add substantially to the story, but I do hope that the essential message of the story is preserved.

      • Of course they would have to add to it, after all it is only half the story…

        I look forward to the follow-up where the producer’s say ‘Got You’ (and more importantly your money), now the real story: The production and distribution of this smaltzy little ode to juvenile indoctrination, The Lorax, was made possible only by the fruits of industrialisation and the resource extraction upon which modernity depends. Upon which the entire modern world depends. There never would have been the book. Production of the book itself requiring a forest or two and modern industrial production methods. Not to mention distribution to happy kiddies around the globe via automobile, truck, train and aircraft (all products of industrialisation my little children). As you will now begin to understand little ones, the transition to film also requires all the accoutrements of technology and the accompanying industrial process. Don’t forget my bambinos, all that yummy food and those promotional toys you will clamour for…Yes!…You’re getting the idea – all together now: Only made possible by the fruits of industralisation.

        Now little kiddies, go home, turn on that TV/Xbox/iPad/computer happy and comforted by all the pleasures of the modern life – and thank god for industrialisation.

        🙂

        • I’m not against industrialisation per se, but I am against idustrialisation without regards for the negative externalities created.

          Do you understand the difference?

          P.S. could you please be more patronising in your responses?

          • Apologies. I had attempted to be as patronising as possible. After-all, it was intended to be read aloud to the all the little children – post a reading of The Lorax

            Just doing my bit to ensure the next generation a balanced one…:)

  3. The Seeking Alpha link takes you to the Cupboard. I’d like to read about the epic Australian bust please.