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... and yet the delish and the Erithe bring the rest was pushed oil production around a hundred dollars a barrel ... in the global economy up for a nasty fall welcome to the New Saab I'm Kelly Evans joined Ansett this morning by Mean Street columnist Evan Newmark ... and Cheap market commentator Dave Kansas welcome to those ... I we wanted briefly mention the news out of windy this morning that much different that we heard last night I got the refusing to stand down Secretary of State ... here in us likely had some tough words for his decision ... this bloodshed is completely unacceptable ... it is the responsibility of the government of Libya ... to respect the universal rights of their own people ... including their right to free expression ... and assembly ... and with that middle East tension doesn't want to be as stepping back anytime soon day veterans watching an oil price here because obviously this is an area of the world that something that had Dizik huge producer of oil ... could see prices move up on it what point do we start worrying about the perceived market reacted well Libya's two percent of global oil production is doesn't sound like a lot when you realize how tight things can be quickly GOmarkets ... is having a big an impact right now I think ... in the U S prices are high nineties and people are thinking if it gets to one ten one fifteen a sustained at those levels ... to really succeed big questions about the strength of the economic recovery because ... that'll be much higher gasoline prices when we get to the summer ... Portsmouth's of air conditioning it's a lovely lace so cold everywhere right now but ... it's really going to be a headwind ... in front of the economic recovery in a lot of people are starting to get worried about that now we are their safety agencies in their bed when you mention this is Nymex crude to ninety five dollars a barrel up significantly ... on Brent is it that when a cure lot about that's more European gauge of benchmark candidates and about a hundred seven hundred NIT dollars ... in that matters in the U S pressure in the East Coast people to the tale of war those prices on that that gap between them remains CNN to issue usually held longer spike in prices collapsed ... it unless for a long time new baby and over the forty years of kidnappings rulings ruling eviscerated every institution in the country ... the idea that the military can step in or some other group that stiffening quickly resolve this ... is his pre scant chance of itself it's the durability of ideas how long these prices stay high and people think it probably could be a while because the messy ... for awhile ... on this ... I was saying look ... he ... when the Fed to ease flooding ... the United States in the markets not to defend the Europeans also ... there's lot of cheap money on ... and cheap money is always looking for the next tree ... and Libya provides indeed the turmoil in Egypt and Bahrain provides a convenient pretext ... for ... speculating on all markets I'm not saying that these are not really issues are saying is when you can borrow money cheaply and by oil margin the oil market either by analysing have the margin ... is very natural UC spikes away with that with the debt also says is that if we did get some resolution things didn't quite an array or ... Yemen are especially in Libya quicker than people expect that hot money is flowing out of those markets oil prices ... that's why the sustainability of the rises would think the economic ... I am thinking today because as you mentioned since it to go back to August we really stirred Sudafed talking about quantitative easing is permanence this Jheon you saw a rally right away ... in commodities and oil ... stocks and bonds the cure seems to think everything's Coming moved up in tandem on this reflation trade so far ... that's breaking down in tears in oil prices shoot up confidence on grass stocks reacted negatively to that bond yields reacting negatively ... commodities reacting ... negatively to that so far we've been seeing this risk off trade that people been piling in are changing and deciding oil's when it would be like the evidence they did a good point that that's where the hot money will go easy is pronounced brain liquid market in London and New York ... so it's fine to their stock and commodity ... money prices were way down ... as a lot of money with the hot money in those markets moved to the oil market so ... we're seeing a break and I think it's a break important opportunity more than any fundamental shift and will see as you mentioned just how much of this past year shows that the consumer level in gas prices which could affect companies cut back spending ... will fluency two thousandeight prices are above four bucks ... a gallon but it's not summer yet ... high it can be appreciated ... let's bring Paul vignette effect a look at what else is happening in markets this morning up call will come ... only captain gets to know why he ... thinks the Tiana don't see that the market ... futures are up a little bit varied as about twenty five was up a lot more than forty was fifty about an hour ago ... so still have a jittery ... but positive after big sell off yesterday Limelight and utilities ... on Ally ... people want to know why ... the team is very much that he wanted his chances of longer looking for ... but still I mean these are fundamental issues with oil market we don't want to happen for these revolutions can go where the ramifications could be you don't know yet so the markets are jittery ... steel and a couple of earnings reports not writing a lot of encouragement I took a look at the time I doing that is down sharply down about nine percent the market today ... earnings report yesterday when that gracing the world PC business didn't look good ... I think I think our member ... although I did ... I did well ... in peacetime history ... I think the interesting thing about HP ... of tight that's what's going on a lot of large tech companies right now ... you're entering in the mega cap ... companies Microsoft for example ... if you grow is to slow ... and and the market whenever it smells you can have a my croissant type situation where it'll be a lot of cash generated ... with no revenue growth they sell the stock and head for the socks off so much and he and I were CEO settings to Look is not our fault that the cicadas are all the markets that are full ... the effect that Sprit will find at this point I ... hear he really were ... and how they fared ... writes ... one market bets that a cable been worried about a crash in for a couple of years out commercial real estate is now poised for recovery though its country nasty joins us consider SIRI reporter in front but the question here is is after all the gloom and doom commercial real estate we now see it ... well we are seeing finally new construction in commercial real estate which ... has been almost nonexistent the last two years suggesting the last week the streets of Buckhead and big ... mixed use project in Atlanta has been stalled for two years ... got three hundred million dollars in private equity funding to get started ... new construction and ... will push on yuan one would talk in the auction and I think equally a striking of the stalled construction projects are finally getting started ... also last week Atlantic City ... at the Revel casino resort a big half built ... project got more than eight billion dollars in financing ... to get so why are they Supri to preferreds and whoever coming forward with this financing ... well ... it's it's a low return world out there ... and that the real estate ... for the last year has recovered ... at least the capital markets for commercial real estate and last year have recovered a lot faster than many people expected ... because of this ... of these capital inflows from investors ... looking for high return one thing you point out is to watch jobs in the sector construction obviously has been one of the hardest hit parts of the U S economy we cut sourcing for example ... I next week to get the junior February will be adding jobs report will construction finally start to hire people ... yes but is Canadian very slow recovery the economy lost more than two million construction jobs since two thousand six or thirty percent of the peak ... I'm so with this kind of very slow and uneven recovery that we're seeing in commercial real estate ... it's going to take a very long time ... to come we need a ... rapid rise in wheat procreation United States ... on you and you have a lot of you a lot of us just use a lot of empty unused real estate out there ... and until you get population growth and income growth ... you still can have is this fundamental problem was interesting know actually set of problems in housing are spurring a little bit of a boom in apartment buildings that is in the home starts pictures we've seen this in a way that the rental rates are moving up and people are are served opting for this instead ... of the real estate market gets ... apartment construction as is definitely the most active sector and ... commercial real estate ... building right now ... I think God in January that the new apartment construction starts than a hundred seventy one thousand ... annual rate of the highest ... since early on ... still due to charges legislative like Bierley art but this has been a concern a longstanding concern for policy makers for investors are people watching the market will commercial real estate to be this this clip I've been issued to drop it appears as you say ... that workers working for some reason she is read More capitals coming in and it's gonna be very slow very uneven recovery but ... it looks like it's starting to happen on and Hunter enough it's very much like ... what I leave you with this in images of the protests sweeping and the Midwest over budget cuts in union busting bills I legislators in Wisconsin and now ... I believe it in Indiana as well or Zale had literally ... left the state that left the building and words of Elvis has left the building and what's interesting is that people whether they're investing in useful bonds or had you in the US had been looking for a way of gauging ... the risks gauging the fallout and it appears as though Wisconsin may have sparked ... a kind of movement here on ... clashing over whether or not ... to accept these cuts what people prefer ... not to happen in order to balance the budget worked off some of the deficit the state to killing one and the kids can be very nice and see how this plays out but ... I think a lot of ways this is going to be this is very good season ... it's very good because it's forcing people to confront the issue from whether you win when a man that you come out on a deal to take a point of view one that netted that is going ... it's probably at him like things are telling us this morning the