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  • "A fundamental reassessment of the value of every asset"

    "Our normal customers have no orders to place with us, and our credit department won't let us sell to others who might want to buy". The blog was given this plain-spoken assessment of current chemical market conditions by one of the majors yesterday. Coincidentally, US Fed Governor Kevin...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-08-2008
  • A fistful of dollars

    The US Federal Reserve used just to manage monetary policy for the 12 'districts' of the USA. But now, it is going global. First, it opened unlimited "swap lines" with other G7 countries through the European Central Bank, the Bank of England and the Bank of Japan, as well as the Swiss...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-03-2008
  • AIG rescued

    'A disorderly failure of AIG could add to already significant levels of financial market fragility and lead to substantially higher borrowing costs, reduced household wealth, and materially weaker economic performance,' according to the US Federal Reserve last night. As a result, the US government...
    Posted to ICIS Blogs (Weblog) by Anonymous on 09-17-2008
  • Fed/IMF worry that US may see 'severe recession'

    The Financial Times this morning reports that the US Fed fears that ‘the economic downturn in the US could turn into a deep and protracted recession of the kind that plagued Japan’. Clearly based on interviews with senior Fed officials and other policymakers, the two articles (one for the European edition...
    Posted to ICIS Blogs (Weblog) by Anonymous on 03-13-2008
  • Traders sell $, buy oil

    ‘ 'A vicious circle now seems to be in place again, where a lower dollar inspires raw material prices to rally, which in turn increases worries about inflation’. This was how strategists at BNP Paribas summed up the US Fed Chairman’s two days of testimony to Congress last week. For the last 20 years...
    Posted to ICIS Blogs (Weblog) by Anonymous on 03-02-2008
  • 4 issues driving today’s oil price

    Quietly, oil has moved back to the $100/bbl level . This is quite different from January, when it first hit the magic $100/bbl number. Financial players had jumped on the trend from November as crude rose above $80/bbl, and then wanted to ‘get out at the top’. Their thinking was that a US recession would...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-21-2008
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