Greece Talks Enter ‘Final Phase’ on 2nd Bailout
ISM Services Gauge in U.S. Rises to 56.8
Unemployment Drops to 8.3%; Payrolls in U.S. Jump 243,000
Treasury 10-Year Yield Rises Most Since November as Jobs Exceed Forecast
Italian Bonds Tumble As Greece Talks Drag On; Bunds Decline on U.S. Jobs
Oil Rises for First Time in Six Days as U.S. Unemployment Rate Declines
S&P 500 Gains 1.4%, Rallies for Fifth Week
“Policymakers already concerned about the relentless rise in global food inflation are facing more bad news in the shape of soaring soyabean prices. Soyabean prices have risen to their highest level in 34 years, boosted by strong Chinese demand and fears that current prices are not high enough to swing acreage from corn to soyabeans in the US… The price-jump threatens to resonate through the supply chain, boosting meat and poultry prices because soyabean is used largely for animal feed, analysts warned."
Financial Times, November 29, 2007
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Speculative excess has gained the upper hand.
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They Don’t Make Companies Like They Used To
The greatly increased corporate mortality has now been internalized in management practice.
Read moreby Satyajit Das | Jan 18
Britain rejected the Treaty changes, refusing the invitation to join the Europeans on the maiden voyage of the Titanic.
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Math Vindicates S&P Debt Downgrade
Their rating of U.S. debt is still too high and the downgrade came way too late.
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