Citigroup commodities strategists hold analyst/industry conference call Commodities Strategists Ivan Szpakowski and Aakash Doshi provide an outlook on the 2Q15 Commodity Market on an Analyst/Industry conference call to be held on April 15 at 9 am.
U.S. Treasury reported a $52.9 B budget deficit in March U.S. Treasury reported a $52.9 B budget deficit in March, a little worse than expected. It compares to a $36.9 B shortfall in the same month last year for a 43.4% erosion. However, it's much improved from the $106.5 B red ink amount posted in March 2013. Receipts only rose 8.5% y/y (about half the 16.0% y/y pick up in 2014) and outlays were up 13.6% y/y (versus -13.6% y/y in 2014). The deficit for the fiscal year has risen 6.3% y/y to $439.5 B versus a $413.3 B shortfall for the same 6 month period in 2014.
U.S Business Inventories Preview U.S Business Inventories Preview: February inventory data is out Tuesday and should reveal a 0.1% (median 0.3%) increase on the month with sales remaining unchanged. This follows respective January figures of unchanged and -2.0%. February retail inventories will also accompany the report and should be down 0.1% in February. Data in line with our forecast will leave the I/S ratio steady at 1.36 for a second month.
United States ratings affirmed by Fitch Fitch Ratings affirmed the United States' Long-term foreign and local currency Issuer Default Ratings at 'AAA'. Fitch has also affirmed the issue ratings on the United States' senior unsecured foreign and local currency bonds at 'AAA'. The Rating Outlooks on the Long-term IDRs are Stable. "The U.S.'s 'AAA' rating is underpinned by the sovereign's unparalleled financing flexibility as the issuer of the world's pre-eminent reserve currency and benchmark fixed-income asset, and as home to the world's deepest and most liquid capital markets," the rating agency said.