Rebroadcast of live education from Feb 8th 2011
Rebroadcast of live education from Feb 8th 2011- Watch now
Portugal on the Wires
- Portugal government says rise in yields reflect speculative attack on euro
- Portugal government says first indications on there budget are that revenues are very positive
Canada New House Price Index Lower
Canada New House Price Index: Survey: 0.2% Actual: 0.1% Prior: 0.3%
DEC 2010
Total MoM%: 0.1%
House Only: -0.1%
Land Only: 0.2%
Total YoY%: 2.1%
House Only: 2.4%
Land Only: 0.7%
Index Level: 104.0
House Only: 103.7
Land Only: 103.9
US Jobless Claims & Continuing Claims Come in Stronger
Number of people applying for U.S. unemployment drops to lowest level in almost 3 years.
Bobbys Corner-Open Market-Feb.10.2011
Good Morning:
As expected the Bank of England left interest rate s along with their QE program unchanged.
Portuguese bond yields rose-and the ECB was aggressively buying them up. The spread between Portuguese and German 10 year government bonds has widened again-now at 420 bps. This is still not as wide as the spreads got when Greece was in the early stages of their debt crisis.
With global equity markets mostly lower-the greenback rose as demand for the safety of the US currency was the main event in the FX markets overnight.
Asian equity markets were mixed, and Europe’s equity markets are lower at this time. US Futures are also looking at a lower opening this morning.
Oil:$86.43 Gold:$1358.20
| TIME | PERIOD | FOR | EST. | |||
| 7:45A.M. | BK. OF ENGLAND RATE DECISION | |||||
| 8:30A.M. | INITIAL JOBLESS CLAIMS | 5-Feb | 410K | 415K | ||
| 8:30A.M. | CONTINUING CLAIMS | 29-Jan | 3900K | 3925K | ||
| 10:00A.M. | WHOLESALE INVENTORIES | DEC. | 0.80% | -0.2% | ||
| 2:00P.M. | MONTHLY BUDGET STATEMENT | JAN. | -$60.0B | -$42.6B | ||
HAVE A GREAT DAY & GOOD LUCK
ECB’S Weber on the Wires
Says:
- Does not see alternative to ambitious consolidation
- Extended, more automatic sanction mechanism welcome
- Current ESM proposals are ‘welcome’
- Euro bonds, bond buys not suitable to solve calamity
- Economic crisis has strengthened in EMU, Germany
- German recovery will continue to be vigorous
- Must regain market poise in fiscal policy
- Macroeconomic fine-tuning is doomed to fail
- Important private investors contribute in bailouts
- Enormous parts of crisis are over
- Support without conditionality is incorrect way










