Production fell to 1.915 million tons from 1.973 million tons the previous
week, which was the highest level since early October. Production had been
rebounding since then, thanks in part to a rebound in automobile production.
New data from the Federal Reserve indicate that the rebound in automobile production stalled in January. This has probably been a factor in the slip
in steel production, which remains below the range of 2.05 million to 2.10 million
tons seen most of last year.
P.S. Will you be there when Cramer makes his next move?
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Tony Crescenzi Blog All Eyes on Bank of Japan 2/20/2007 9:16 AM EST A rate hike at today's meeting would buoy the yen.
Tony Crescenzi Blog Wall Street Driving Surge in M1? 2/16/2007 2:00 PM EST It is possible that the huge increase reflects bonuses.
Tony Crescenzi Blog Real Estate Loans at New High 2/20/2007 10:33 AM EST The increases would not be occurring if not for a stabilization in home sales and home prices.
Tony Crescenzi is the chief bond market strategist at Miller Tabak + Co., LLC, and advises many of the nation's top institutional investors on issues related to the bond market, the economy and other macro-related issues. At the request of the Federal Reserve, Crescenzi is a regular participant in the board's Livingston Survey of economic forecasters. He is also the author of The Strategic Bond Investor. At the time of publication, Crescenzi or Miller Tabak had no positions in the securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Crescenzi also is the founder of Bondtalk.com, a popular Web site covering the bond market and the economy. Crescenzi appreciates your feedback; click here to send him an email.
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