The recent news that Dubai suspended the repayment of its $59 billion debt sent shockwaves through the markets. Some shockwaves were expected, others came completely out of the blue. In the first category there are the news of the spreads widening. In the second enter the appreciation of the yen, completely unexpected. Nobody was thinking that the panic will make […]
There is a lot of debate whether the oil will come back or not to the levels from 2008 (mostly May and June levels, where it reached a peak of $140/barrel. Since then, it continued to drop until February 2009, since it started again to grow. This time, in a much slower manner. It is true that the recent economical […]
Well, that is an interesting question I think – and it shares some of the reasons why the Detroit auto makers are now desperately looking for a bailout from the US government similar to the banking ones. For a long time, OPEC countries though to be the masters of the moving universe. These highly power-concentrated countries have names which […]
Everybody knows that from the beginning of this month the oil price has breached a new record: Oil soared by more than $6 a barrel to over $134 on Friday June 6, bringing gains in the last two days to $12 as the dollar weakened further on a jump in the jobless rate in the United States.