🔔 Too Much And Not Enough

"Target is doing the right thing in acting aggressively to clear out excess inventory by taking the margin hit now.

This will allow them to be better positioned ahead of the two most important retail selling seasons, back-to-school and holiday,"

"This should be a short-term problem."

"Excess inventory has been a theme among retail stocks, and with consumption & spending shifting more towards services, it may take longer than expected to work through, which means lower demand for Chinese exports in the near-term."

The new fund is likely to be similar in size to the 12 trillion yen ($92 billion at current rates) bank bailout fund established by Japan after its late-1990s financial crisis.

It is also reminiscent of the $700 billion Troubled Asset Relief Program set up by the U.S. in the wake of the 2008 global financial crisis to rescue banks and other distressed companies.

Beijing aims to bring the total to the equivalent of tens of billions of dollars to upwards of $100 billion by September.

A glut of fertilizers at the biggest Brazilian ports signals that the price of the nutrients may have to drop further before farmers start buying.

In Paranagua, private warehouses reached their maximum storage capacity of 3.5 million tons, according to Luiz Teixeira da Silva, Paranagua’s operations director.

A terminal operated by VLI Logistics, one of the two at Santos port that store fertilizers, is also full, according to people with knowledge of the matter who asked not to be named as the information isn’t public.

 🔮 Morgan Stanley downgrades Dutch maker of nitrogen fertilisers OCI $OCI to "equal-weight" from "overweight"

"Nitrogen spreads are reversing from peak but we maintain our view that reversion is to a higher mean than in '16-1H21," it says— PiQ  (@PriapusIQ) June 8, 2022 

"When the main holiday season starts in Europe and the U.S., fuel demand will rise. Then we could see shortages: for example with diesel, petrol or kerosene, particularly in Europe,"

Birol also warned that the current energy crisis was "much bigger" than the oil shocks of the 1970s and that it would also last longer, according to the report.

"Back then it was just about oil," Birol told Spiegel. "Now we have an oil crisis, a gas crisis and an electricity crisis simultaneously."

“If we have a harsh winter and a long winter and if we do not take [demand side measures] . . . I wouldn’t exclude the rationing of natural gas in Europe, starting from the large industry facilities,”