Barclays Capital
Barclays Capital
Barclays Investment Bankis the investment banking division of the British multinational Barclays bank headquartered in London. It provides advisory, financing and risk management services to large companies, institutions and government clients. It is a primary dealer in U.S. Treasury securities and various European Government bonds...
economy encourage market optimistic outcome pivotal prior strong today view
U.S. payrolls are much more pivotal today than in prior months. A strong outcome would encourage the market in its increasingly optimistic view of the US economy and hawkish view of the Fed.
dispute higher leaves open prices risk short solution
The possibility for a non-benign solution to the dispute leaves open the risk for higher prices in the short term.
damage energy gas hurricane natural recent
Recent hurricane damage in the U.S. has impacted natural gas more than any other energy market.
asian bank central continuing economic fears fund further hopes interest justified large remains room upside
There remains room for further upside this year, with fund interest continuing to be justified on...inflationary concerns, fears of economic slowdown, hopes of large Asian central bank buying.
allied commodity continue continued desire equity fixed growing income investors likely performance strong strongly
The continued strong performance of commodity investments, allied to the desire of many institutional investors to diversify their equity and fixed income exposures, suggests that commodity investments are likely to continue growing strongly in 2006.
benchmark bonds buy create few objective operation seems smaller time
The objective of the operation seems to be to create a few large-sized benchmark bonds and over time buy back the smaller issues.
capacity crude lacks oil refine short spare
Crude oil was the one thing not in short supply. What the U.S. lacks is oil products, especially gasoline, and it lacks the spare capacity to refine more crude.
absence both close created driver key limits oil run slack
The oil system, both upstream and downstream, is being run close to sustainable limits and the tensions created by the absence of slack are now the key driver of prices.
broader charts closely correction further market near phase signs subject technical term towards trend weakness
The market could be subject to further weakness in the near term towards $535. The technical charts will be closely monitored in this correction phase for any signs of a broader trend reversal.
april gold level lower next push ratio target
Indeed, another push lower in the gold-to-silver ratio is still possible, with the next target level around the April 2004 low of 51.
appear deeply next problems rooted solving start unlikely whatever
Italy's problems appear so deeply rooted that the next government, whatever its complexion, is unlikely to do little more than make a start at solving them.
cautionary clear conflict high length major microscope move side
Under the microscope it is clear that an important watershed is approaching. The short-term downtrend is about to come into conflict with the medium-term uptrend. Typically we would side with the longer-term move but the length of the downtrend from the high is a major cautionary note.
chile copper demand disruption environment given lack last lend prices production rarely shipments spare strikes strong support tend
While strikes in Chile rarely tend to last for very long, any disruption to production or shipments will lend support to copper prices given the strong demand environment and lack of spare material.
balances below current demand estimates fallen further gasoline indicate market oil relative remains year
U.S. gasoline inventories have fallen further below their five-year average, while U.S. oil demand remains strong. Our estimates of current market balances indicate a significant tightening relative to a year ago.