World economy talk

[tidus1203]

Puro naman government spending yan... Where are the jobs?

[uls]

oil price shouldnt be this high

the fundamentals suck

but nobody cares about fundamentals anymore

the following is from the widely-read Schork Report

Over the last two trading sessions the two largest oil companies in the United States, Exxon and Chevron announced that in Q4 2009 they lost a combined $6.9 million day on turning crude oil into refined products. Wall Street traders reacted to this news yesterday by making NYMEX crude oil even more expensive than gasoline. To explain this seeming incongruity, an unidentified financial trader from Camp Mohawk Trading was quoted as saying. . . IT JUST DOESN’T MATTER, IT JUST DOESN’T MATTER!

Without this end demand for product, crude prices are fundamentally crippled on the upper bound. Whether the bulls realize that (and yesterday’s price action indicates they don’t) is another matter.

More to the point, the bulls probably do realize how bad the fundamentals are for crude oil, but they probably just don’t care.

demand for refined products is low

the demand is so low that refineries are shutting down

http://uk.reuters.com/article/idUKN0...BrandChannel=0

NEW YORK, Feb 1 (Reuters) - Sunoco Inc (SUN.N) has permanently shut down its idled 145,000-barrel-per-day refinery in Eagle Point, New Jersey, as weak margins continue to batter the U.S. refining sector, the company said Monday.

Sunoco had idled the plant late last year due to weak demand for refined products.

Last week, Valero Energy Corp (VLO.N), the leading U.S. refiner, reported a quarterly loss and slashed its dividend due to pressure from poor refining margins.

[Monseratto]

OT Looking at graphs the whole day can make Johnny a dull boy. Sneaking a peek or two at girlie photos can relieve some stress. Just make sure you don't do it on live TV during work...

[ame=http://www.youtube.com/watch?v=v1m8a4Jl4ZI]Worker looking at girlie photos in background (Miranda Kerr) - Seven News Update[/ame]

http://news.bbc.co.uk/2/hi/asia-paci...es/8494854.stm

[uls]

ya

haha

saw that video this morning

the guy was looking at pics of Australian model Miranda Kerr

Macquarie Bank adviser caught assessing Kerr's assets
http://www.theaustralian.com.au/news...-1225826045130

A MACQUARIE Bank adviser has been left red-faced after being caught live on television looking at a series of near-nude snaps of supermodel Miranda Kerr.

The footage of the adviser has swept the trading rooms of banks across Sydney after it was captured by Seven News.

The network was interviewing Macquarie private wealth adviser Martin Lakos on the financial market’s reaction to the Reserve Bank keeping interest rates on hold at 2.30pm.

However, viewers' attention was captured after the male adviser in the background opened an email containing pictures of Kerr’s recent photoshoot from GQ magazine.

Macquarie said it was now investigating the matter. “Macquarie takes matters such as the unacceptable use of technology extremely seriously," it said. "Macquarie has strict policies in place surrounding the use of technology and the issue arising from today's live cross on 7 News is being dealt with internally.”

[Monseratto]

RROWWWRR!!!...

[james00112233]

sana man lang eh tumingin muna sa likod o paligid nya bago nyo binuksan yung email.
malamang nagmamadali na sya.

[uls]

EUR/USD 1.3781

Portugal and Greece credit default swaps are taking off

USD index


Spot Gold

[uls]

EUR/USD 1.3743

S&P 500 1,072... 1,085 support taken out with conviction

--

massive flight to safety ongoing

[10323015]

very enlightening posts you have there.

what platform are you using by the way?

[Monseratto]

Last night was bad for the commodities...

The Dow fell below 10,000 Thursday for the first time since November amid worries about the U.S. job market and Europe's ability to get a grip on its debt. In the final minute of trading, the Dow fell below that 10,000 mark, before popping back up to end at 10,002.18.

Oil is back where it started from monday. No reason for a price hike this weekend.



Gold is below this week.

[tidus1203]

EUR/USD 1.3743

S&P 500 1,072... 1,085 support taken out with conviction

--

massive flight to safety ongoing

For market technicians just another garden variety correction. After a strong 2009, 2010 will be a corrective year!

[Monseratto]

Groundhog Day

[uls]

USD index pass 80

--

this morning:

HSI -555.45

Nikkei -293.33

--

EUR/USD 1.3687

[Monseratto]

Save dave!!!

Effort afoot to save model-ogler's job

(CNN) -- supporters of a banker caught looking at photos of a semi-nude model on live tv have launched a web site in a bid to save his job.

David kiely, who works for sydney-based macquarie private wealth, has become a web sensation after he was filmed on australian television admiring pictures on his computer screen of scantily-clad miranda kerr.

Kiely was opening e-mailed pictures of kerr while one of his colleagues, martin lakos, was being interviewed on channel 7 news behind him on tuesday.

His employer has said it is investigating the actions of the client investment manager who, according to australian media reports, is said to be on gardening leave. A web site has now been set up calling for kiely to be reinstated.

An email petition, here is the city, writes: "whether set up or not, kiely was really only guilty of being in the wrong place at the wrong time. There but for the grace of god."

it says kiely "seems like a nice bloke, the pictures were not hardcore and that he had already suffered enough." it adds: "there's just too much political correctness in this world anyway."

a posting of the clip on youtube had attracted more than 1.3 million hits by thursday, along with thousands of comments, with many viewers arguing kiely was unlucky to be caught on tv.

"he looks like a nice guy and i'm sure he must be a goodÿþ analyst since he is working there," said one youtube viewer. "i really feel for him -- if i was a top shot there, i wouldnt let him go. Listen we've all made mistakes in our lives. He was caught on camera, also he wasn't looking at something really dirty."

"to be fair, he was simply browsing through his emails, and perhaps he simply opened it not realising what it was?" another viewer wrote.

[uls]

this is the "Save Dave" website:

http://news.hereisthecity.com/news/b...ews/9904.cntns

HereIsTheCity's effort to save Macquarie client investment manager David Kiely from getting the sack has gone global. Kiely became the latest internet sensation after being caught live on TV oggling semi-nude pics of Australian supermodel Miranda Kerr, and is currently at home, waiting for his bank to decide what to do with him.

We asked readers to e-mail Macquarie's media relations folks in a quest to save his job, and sources say that the bank has received thousands of e-mails in his support.

JOIN OUR CAMPAIGN TO 'SAVE DAVE' because:

1. He seems like a nice bloke

2. The pics weren't hardcore

3. He has suffered enough

4. There's just too much political correctness in this world anyway

So, please help David Kiely keep his job by sending an e-mail of support to mediaquery*macquarie.com

---

nonfarm payrolls tonight

positive number expected

last month minus 85,000

[tidus1203]

And then BAM below expectations nanaman and again just another fuel for the correction!

[tidus1203]

20,000 job losses for January, and unemployment down to 9.7%...

I smell something fishy, the gov't must be manipulating the unemployment rate not to pass 10% kasi politically damaging yan to an already challenged Obama administration! Bumaba yung unemployment pero the overall net job is still a LOSS of 20,000???

[uls]

yep it's conflicting

here's an explanation

http://business.theatlantic.com/2010..._were_lost.php

"seasonally adjusted"

First, let's tackle the question of what this seemingly conflicting data means. This positive news could have a lot to do with seasonality. Remember, the reported number is seasonally adjusted. It says that in January, we had 14.8 million unemployed Americans, which is about a half million fewer than the 15.3 million unemployed in December. Sounds great, right?

but if the number wasnt seasonally adjusted...

Maybe, maybe not. If you don't adjust for seasonality that changes. A lot. Then, January had 16.1 million unemployed, while December had 14.7 million -- an increase of 1.4 million jobless Americans.

the unemployment rate would be 10.6%

There's a similar story with rates. Seasonally adjusted, the national rate dropped to 9.7% from 10.0%. If you don't adjust for seasonality, then the unemployment rate rose from 9.7% in December to 10.6% in January.

---

here's the actual BLS report

http://www.bls.gov/news.release/empsit.nr0.htm

check this out:



look at the revisions (lalo na March)

there were significantly more job losses in 2009 than originally reported

[uls]

i don't follow local stocks

but i'm sure local stocks have been falling

here's why

Emerging Equity Funds Post Most Outflows in 24 Weeks
http://www.bloomberg.com/apps/news?p...RMt1LAUA&pos=2

Feb. 5 (Bloomberg) -- Emerging market equity funds lost $1.6 billion in weekly withdrawals, the biggest outflows in 24 weeks, as earnings and Greece’s debt woes raised concerns that the global recovery may falter, EPFR Global said.

Investors removed almost $1 billion from global emerging market stock funds in the week ended Feb. 3, the most in more than a year, withdrew $516 million from Asian equities outside of Japan, the research company said in a statement.

which brings me to the USD index



what does that freaking say?

it freaking says money is being withdrawn from risk assets all over the world (like Phil. stocks) and is being parked in the USD

flight to safety

[tidus1203]

Kaya pala bumaba ang UNEMPLOYMENT RATE even with sagging jobs numbers! The unemployment rate DOES NOT factor in people who are discouraged already to find jobs! So kung matagal ka na naghahanap pero di ka makahanap tapos discouraged ka na maghanap di ka considered UNEMPLOYED??

Quite pathetic really on how the government manipulates these numbers!