Doug Noland Latest News...von der Deflationsfront

verfasst von CRASH_GURU, 07.02.2004, 14:34

-->Man beachte den letzten Absatz zur EU:

Global Reflation Watch:


February 4 - Bloomberg (Petter Narvestad): “Knightsbridge Tankers Ltd. and other owners of the largest oil tankers are collecting as much as 50 percent more than break-even on multiyear contracts as spot-market rates surge close to 30-year highs.” “Freight rates for dry-bulk cargoes such as iron ore and coal are at a record after rising in January for the ninth month in 12 as an expanding Chinese economy boosts demand for raw materials and port delays tie up ships. The Baltic Dry Index, a measure of the price paid for shipping dry-bulk goods, climbed for a seventh session today to 5,681 points. The index, which gained 17 percent in January, has more than tripled in the past year as demand outpaced growth in the world’s bulker fleet. ‘We are seeing close to a 100 percent utilization in the dry bulk market,’ said Nicolai Hansteen, an analyst at Oslo-based shipbroker Lorentzen & Stemoco… ‘It’s made rates go through the roof and the situation may last into the second half of this year.’”



February 4 - Bloomberg (Guy Faulconbridge): “Russian consumer prices rose at the fastest pace in a year in January, as prices for services soared after the government allowed increases in the cost of electricity, gas and local services. Russian consumer prices rose 1.8 percent in January from December…”


February 4 - Bloomberg (Seyoon Kim): “South Korean producer prices rose in January at their fastest pace in more than five years because holiday demand bid food prices higher and crude oil costs rose, making fuel, chemicals and other industrial goods more expensive. Producer prices rose 3.8 percent from a year earlier after climbing 3.1 percent in December… Rising food and energy costs may push up prices of everything from restaurant meals to cars and computers, causing consumer-price inflation to accelerate.”



February 6 - Bloomberg (Clare Cheung): “Hong Kong’s retail sales had their biggest gain in almost a year in December as tourists arrivals surged to a record, and falling unemployment and rising asset prices made people more willing to spend. Sales climbed 6.7 percent from a year earlier…”



February 4 - Bloomberg (Duncan Hooper): “U.K. house prices rose last month at
the fastest pace since October 2002, HBOS Plc said, suggesting consumers’ willingness to borrow hasn't been dented by November’s interest-rate increase. The average cost of a home rose 2.2 percent to 145,610 pounds ($267,405), following a 2 percent gain in December… Annual house-price inflation accelerated for a second month to 16 percent in the quarter ended Jan. 31…” (and this is in the face of central bank tightening!)



February 6 - Bloomberg (Sam Fleming): “The number of U.K. shoppers last month
rose the most in 2 1/2 years as Britons ramped up spending on home-entertainment systems, mobile phones and home-improvement products, a survey showed. The number of consumers visiting stores in January swelled 5.3 percent from a year ago, the biggest monthly climb since June 2001…”



February 2 - MarketNews: “Excess money and credit supply in the euro area mean the European Central Bank should raise interest rates, according to a group of leading German ECB watchers…. The professors believe that excess liquidity could bring an asset bubble which would then drive up consumer prices. They warn that the inevitable need to correct such a development could prove ‘highly costly’ as far as jobs and growth are concerned. ‘In particular, we see the risk that excess liquidity in the US as well as in the euro area could cause, in a first wave, asset price inflation (on the stock, bond and housing markets) before driving up consumer prices. The inevitable correction of such a development could prove highly costly as far as output and employment are concerned, and thus warrants attention by monetary policy makers. This is why we conclude: ‘Too much money is chasing too few goods.’”

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• Doug Noland Latest News...von der Deflationsfront - CRASH_GURU, 07.02.2004, 14:34