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A wealth of good news!
February 6, 2009Article by Ray Withers
Just a quick note before the weekend to mention the wealth of encouraging news from around the globe.
- As reported in the Telegraph this week, the Baltic Dry Index has been edging up the past 2 months; off the back of its worst crash in history. Why is this significant? Well, it is indication that freight rates are starting to stabilise and this means that demand for cargo to be moved is also on the increase – indicating world trade is on the increase!
- Copper & Lumber prices have also started to creep up.
- The Telegraph also mentions a flurry of activity in the debt markets – where companies issued £171bn in bonds in January. EDF raised £8bn, Shell and RWE each raised €3bn this week.
- Across the pond the US Federal Reserve’s loan survey indicated lending is picking up again.
- BNP Paribas have reported that the manufacturing industry in China is no-longer in free fall and things have started to stabilise.
- The Royal Institute of Chartered surveyors have reported an 11% increase in buyer enquires.
- Yesterday we saw interest rates drop to their lowest levels in over 300 years and this will place more and more first time buyers into the market.
- But perhaps the most encouraging piece of news is that the Halifax reported a 1.9% increase in nationwide price growth last month! The moving 3 month index across all 3 major house prices indices has been stabilising over the past few months but this has come right out of the blue and is very positive indeed!
Now, I know if you picked up most newspapers or turned on the TV you would be able to find lots of points that indicate the world economy is still suffering, but my point is you wouldn’t have found any positive news a year or even 6 months prior to today.
Something to think about anyway.
Have a fantastic weekend
Written by: Christopher Chadd