Before I take a few days hiatus (well deserved) and with the world in a more “serene” state, it is a good time to contemplate the recent news out of the GULF REGION. In a story in yesterday’s Financial Times, “Saudis battle to calm oil fears,” it seems that the Saudis have consigned 11 VLCCS to send a total of TWENTY-TWO MILLION BARRELS of crude to the U.S. This is an interesting development as high U.S. gas prices are seen to be an issue in the upcoming presidential election.
Posts Tagged ‘Israel’
Notes From Underground: OIL–A CONJECTURE
March 21, 2012Notes From Underground: The Irish Government loses power as the GREENS pull the plug
January 23, 2011The weekend brought some political news from the EU. Brian Cowen gave up his leadership of the Fianna Fail Party but vowed to stay on as prime minister. However, the GREEN PARTY, who is the junior partner in the coalition, balked at the uncertainty caused by PM Cowen and pulled their support, which would force the dissolution of Parliament after this week’s vote on important budgetary matters. It is not as significant as it could be for elections were scheduled for March and the ruling party has been expected to suffer a total defeat. The most important outcome is that some of the leadership challenging Cowen within Fianna Fail will lose some precious time to secure their support within the party.
Notes From Underground: The peripheral nations are trying to get ahead of the inflation curve … with CAUTION
July 29, 2010Last night, the Reserve Bank of New Zealand raised the overnight interest rates as expected from 3.00 percent from 2.75 percent. This was no surprise as the market widely had anticipated it. The move by the Central Banks of India and Israel was also expected, although the probabilities of the Israeli move were less than the others. So New Zealand raised rates and the currency was sold off, which has significantly weakened on the crosses. The market had a very negative reaction to RBNZ Chief Alan Bollard’s very cautious comments about rates going forward. With KIWI inflation running at an annualized rate of 2 percent, the RBNZ feels it is now ahead of inflation and will watch global growth and see how it effects New Zealand. Bollard expressed concern about the recent strength of the Kiwi and in his statement said:
“The New Zealand dollar has appreciated in recent weeks.This appreciation is inconsistent with the softeningin the New Zealand’s economic outlook …”
Notes From Underground: Let’s talk Turkey
June 3, 2010We at notes will sometimes put an issue on the radar screen that may not have present value for trading, but may well have significance in the near future and ultimately have an effect on global money flows that we hold dear. Turkey fits that profile.