Oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe amid signs that space in on-land depots is filling up, a ship-operator said. The glut could get bigger still, given the region is scheduled to load the most cargoes in 4 1/2 years next month. Source Bloomberg
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“In a society where ageing is growing, savings — including capital invested abroad –- will fall as pensioners use that to finance their consumption in Germany,” it said. “This will probably reduce the current account surplus and could even turn it into a deficit.” Source: Reuters
Mexico is the most attractive emerging market for investors, based on a range of metrics analyzed by Bloomberg including growth, yields and equity valuations. India is the worst. “Both Mexico’s currency and bonds have been sold too much,” Source: Bloomberg
In fact, 73% of consumers had outstanding debt when they were reported as dead, according to December 2016 data provided to Credit.com by credit bureau Experian. Those consumers carried an average total balance of $61,554, including mortgage debt. Source: USAToday