The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from Blogs Dashboard:
If you are in St Louis, buy gas on a Tuesday or Wednesday
The pass through from low gas prices to U.S. consumer spending is a fraught issue and central banks say it is being distorted by the zero lower bound. Now another complication, if you are in St Louis.
According to calculations from the Federal Reserve Bank of St. Louis, you can save up to $60 a year if you buy gas on a Tuesday or Wednesday. Gas prices are most expensive on Fridays, Saturdays and Sundays and fall sharply in midweek, with Tuesday almost 4 cents a gallon cheaper than the average price.
"The simplest explanation is that most consumers aren't aware of the cycles. Even if some were aware, they may not care enough about saving a few dollars to change their behavior," the study found.
from Morning Bid with David Gaffen:
The terror attacks in Belgium are the most immediate catalyst for market moves right now, with futures dipping, bond yields lower and safe-haven gold higher. But perhaps it is a sign of the ongoing familiarity with these attacks that US futures are only down about 0.4 percent this morning, VIX futures are up but only a little bit, and the overall activity is nowhere near as panicked as we have seen in the past. That may change as more details come out, but right now with more than two dozen dead the market's reaction has been quiet.
By Lindsay Dunsmuir
The Fed’s Beige Book, a compendium of anecdotes from business contacts across the U.S. central bank’s 12 regional districts, is not known for tickling detail. But it seems one regional Fed district – Boston to be precise – is paving the way in bringing a bit of relatable life to the usually dour document. In January’s report it pointed out that a toy company in its district reported strong sales “largely driven by the new Star Wars movie.” This time, it seems that all that movie-related spending has left locals with little money to spend on love. “Sales of Valentine’s Day items usually spike a few days before the holiday, but this year sales were lackluster,” the Boston Fed reported. Next time around, will we find out that children were deprived of their chocolate Easter bunnies? It’s anyone’s guess, but it seems like the researchers in Boston are minded to let us know.
from Expert Zone:
(Any opinions expressed here are those of the author and not of Thomson Reuters)
The wild gyrations in the stock market on Budget day were due to initial disapproval over inadequate measures taken to recapitalise banks and the seemingly unfair corporate tax treatment for large firms that form the bulk of market capitalisation.