Why is the Justice Department suing Standard & Poor's for mis-rating structured credit securities before the financial crisis, and not suing Moody's, which gave a lot of the same products the same ratings? I have a theory, but Standard & Poor's has another, and theirs is a corker:
Coffee was higher in early trading, and put in its best close in New York for the month. Speculators appeared to be covering short positions in active trading. Industry and producers appeared to be quiet.
Futures closed higher on follow through buying tied to lower than expected production estimates from USDA. Production in Florida was estimated at just 125 million boxes, more than 8 million boxes less than last year.
The political impasse in Washington and wrangles over the U.S. debt ceiling, which is leading to a gradual shutdown of the US government, is yet to seriously rattle market sentiment, but the longer it carries on the greater the risk of extreme market volatility.
If you want an objective view of energy, ask an economist, who can tell you what to expect to pay at the pump in the coming years, and why, as well as what to expect from medium- and long-term economic growth and what the real drivers will be.