Portugal to Receive $116 Billion from the EU and IMF

Portugal agreed to deal terms that would provide 78 billion euros in financing over three years from the European Union and International Monetary Fund. Stipulations include a required 2011 budget deficit of 5.9% of GDP. 

Wall Street Journal, May 4, 2011
Portugal Reaches Deal on Bailout

Treasury Prices

Treasury prices have increased this week following global current events and the Federal Reserve’s purchase of $7.24 billion in Treasurys with maturities between May 15, 2018 and Feb. 15, 2021.

Wall Street Journal, May 3, 2011
Treasury Prices Rise on Economic Anxiety

President Barack Obama Addresses the Nation

Wall Street Journal, May 2, 2011
President Barack Obama's Speech to the Nation

2012 Election Candidates

John Huntsman of Utah seems to be the leading Republican prospect for the 2012 presidential election. Other possible candidates include Mitch Daniels of Indiana, Sarah Palin, former governor of Alaska, Gov. Chris Christie of New Jersey, Gov. Rick Perry of Texas and Representative Paul D. Ryan of Wisconsin, the chairman of the Budget Committee.

New York Times, May 1, 2011
Republicans Are Pursuing a Wider Field for 2012 Race

Congress to Debate on Oil and Gas Tax Subsidies

President Obama is seeking a repeal of tax incentives for oil and gas producers in the U.S. Revenue from the repealed tax subsidies would likely be spent to fund clean energy research which would provide for less expensive fuel alternatives.

New York Times, April 30, 2011
Gas Prices Spur Sound and Fury in Washington

Oil Prices and Winter Weather Slow U.S. Economic Growth

Domestic economic output grew at an annual rate of 1.8% in the first quarter of 2011 after expanding at a rate of 3.1% in the previous quarter. The slower growth was attributed to higher oil prices and winter weather.

Higher oil prices led to decreased profits for businesses and less discretionary income for consumers. Winter weather also took its toll by closing many businesses and delaying construction on new homes.

New York Times, April 29, 2011

U.S. Economy Grew 1.8% in First Quarter

Oil and Gas Prices Continue to Rise

Commodity prices, particularly oil and gasoline, have shown significant increases year-to-date. These prices will continue to be closely watched as the Federal Reserve enters their final phase of bond-buying. Following the end of the program in June, the focus is expected to turn to a debate on the federal funds rate, which has remained at 0 - 0.25% since December 2008.

Wall Street Journal, April 28, 2011
Crude-Oil, Gasoline Prices Climb