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Global Commodity Watch - September 2011

John Baffes's picture

Non-energy commodity prices fell by 1.6 percent in August while energy prices dropped 6.3 percent. Most of the declines were for industrial commodities owing to concerns about demand and numerous macro/financial/credit risks. Gold and silver prices rose amidst the uncertainty on safe haven buying. Agriculture prices were essentially flat overall, with grains prices up on downgrades to U.S. harvest estimates, but these were offset by declines in coconut oil, cotton and cocoa due to improved supply prospects.

Prospects Weekly: Euro Area woes have worsened on growing concerns about banking-sector exposures

Global Macroeconomics Team's picture

Euro Area woes have worsened on growing concerns about banking-sector exposures to sovereign obligations and skepticism about the medium-term solvency of several high-spread member countries. A crisis of confidence has taken hold, partly prompted by the apparent inability of politicians to get in front of the crisis. Unlike previous episodes of volatility, contagion to core Euro Area countries and abroad—including developing countries—has taken hold.

Prospects Daily: President Obama proposes $450 billiion in jobs stimulus

Global Macroeconomics Team's picture

Important developments today:

1. Credit risk for European sovereigns, and commercial bank debt rises to fresh highs

2. European equity markets showed a certain degree of apathy to the plan announced by Mr. Obama last evening