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’A drachma-tic moment in Greek oil trading
European geopolitical FAIL:
LONDON, Nov 11 (Reuters) – Greece is relying on Iran for most of its oil as traders pull the plug on supplies and banks refuse to provide financing for fear that Athens will default on its debt…
The tsunami effect, charted
In the days immediately following the twin earthquake and tsunami disasters in Japan, there was much speculation about how big the impact might be on the country’s trade and exports.
Now thanks to Sean Corrigan,
Further further reading
The “Further further readings” post usually runs in the late afternoon US time, but in this case you can file it under “we forgot to hit publish”. Doh! Or consider it a Tokyo special. Either way, sorry about this.
Dick Bove on QE2 as a bank-less “financial war with China”
We all know Dick Bove ♥ banks — sometimes to a fault.
But the Rochdale Securities analyst brings up an interesting QE2-related point in his latest note. The Federal Reserve’s first round of quantitative easing,
Irony alert: China cries fowl
Minyanville has picked up on the irony of the month, following Monday’s news that China, which was the largest importer of US chicken in 2009 ($752.2m), will impose new ‘anti-dumping’ duties on chicken parts and whole birds,
More on the US trade figures and global imbalances
Thursday’s US trade report from the Census Bureau brought some welcome news, though it’s probably best not to get too excited just yet.
Exports resumed growing again after a slight dip in June, while imports declined by $4.2bn.
A Chinese trade deficit? ‘Tis but a flesh wound
Waiting for China’s long-awaited, long-controversial decision on the renminbi’s value is getting to be like waiting for Godot.
Oh, well. Here’s an interesting $7.24bn-sized diversion to ponder while we wait: how to interpret the trade deficit China has now posted for March,
An AP-Moller Maersk ouch for global trade
If you had hoped global shipping markets were returning to health in the third quarter, numbers out on Thursday from Denmark’s AP Moller-Maersk should firmly shatter that illusion.
The world’s top container shipping company reported a deeper than expected net loss of DKr3.85bn for the nine months to September,
Questioning the J-curve
J-curve. Noun. Economist jargon.
The shape of the trend of a country’s trade balance following a DEVALUATION. A lower EXCHANGE RATE initially means cheaper EXPORTS and more expensive IMPORTS, making the current account worse (a bigger DEFICIT or smaller surplus).
Depression *alert* – politico edition
We had the first from a major investment bank economist last week, now we have the first from a major politician.
LONDON (AFP) – Prime Minister Gordon Brown acknowledged Wednesday that the world is in a full-blown economic “depression,”
Trading like it’s 1697
Notable events in 1697:
* Peter the Great sets out to travel in Europe officially incognito as “Artilleryman Pjotr Mikhailov”.
* The Spanish conquest of the Yucatan is complete with the fall of the Itza Kingdom.