Supportive "fundamentals"--including a long-delayed rotation to late-cycle business investment--should lift growth to just over 2-1/2% during the rest of the year as the economy moves beyond payback for post-hurricane reconstruction and, perhaps, seasonal-adjustment problems keeping first-quarter pace at or below 2%.
The 38th anniversary of a historic day arrives on March 27. Few recall that fateful day but in the world of "markets," the day was a shocker. And from my one-of-a-kind book, Haunted By Markets in a chapter entitled Silver Thursday, penned in early 2011 here is what took place that wild and crazy trading session 38 years ago.
Quarterly Corn Stocks There was nothing friendly to the Quarterly Corn Stocks data; 8.888 billion bu. – 182 million bu. above trade consensus and 266 million bu. above one year ago – I do think the big Stocks figure will allow the USDA to adopt the lower SA Corn crop production data using the idea that the US will be able to handle the shortfall Planted Corn Acres Just flat out bullish;
Corn and soybean futures soared, after the US estimated that its sowings of both crops, of which it is the biggest grower, would fall this year, undermined by a switch to cotton and in particular spring wheat.
Equities across the world took a beating after U.S. tech stocks were under pressure but off their worst levels on Tuesday, with Asian and European stock markets faltering. Government bonds, on the other hand, saw inflows as investors sought out berths from where they could shelter against the market turmoil.
The euro held near a six-week high on Wednesday as investors turned more optimistic about the outlook for global markets in the second quarter, with relatively higher-yielding currencies such as the Australian dollar well supported.