Here are the five things you should be aware of this morning:
- Shipping companies are having such a difficult time keeping up with European and American demand that many full containers of products are idling in Asian ports.
- Two major steelmakers have ended 40 years of annual pricing on iron ore imports and have accepted a 90% price hike to meet soaring Asian demand.
- The SEC has launched a probe into 20 other financial institutions to see if there were using a similar Repo 105 strategy to the one which scandalized Lehman Brothers.
- The pound is up this morning against the dollar on an upward revision of growth projections to 0.4% for Q4 2009.
- Global equities are approaching an 18 month high as U.S. stock futures moved higher this morning in advance of the Case-Schiller housing report and consumer confidence data.
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