Economics Update

Generally, the news has been pretty good, with personal income rising and consumer confidence hitting the highest level in over a year.

Additionally, we are seeing more signs of a credit thaw, with the 3 month dollar LIBOR falling below 0.6%.

In energy, we have an offer of amnesty on the table in Nigeria, which has driven oil lower.

This has led to a decreased perception of risk, which, along with some statements by China's central bank, drove the dollar down.

One wonders how bank failure Friday will shake out tonight.