The Saudis offered to boost their oil exports

Fears around a slowing Chinese economy carried over into the U.S. session.
Stocks closed in the red but it did not feel like anything close to panic.
It felt like a simple pause in the liquidity induced rally.
Whether or not the rally is a "false start" is a different discussion.
That China will slow down is also not a surprise.
The debate seems to center on whether the Chinese Communist Party can engineer a "soft landing" or whether China will experience a "hard landing."
The picture in China seems to resemble that in the U.S. prior to the 2008 crash: frothy and bubble-like.
It will take a while for China to stimulate its internal demand to offset for reduced international demand for its exports.
Old-timers tell this player that given the brevity of winter, it promises to be a very hot summer.
Energy prices will feature that much more prominently on the election campaign trail.
The Saudis offered to boost their oil exports to assuage the markets and to make up for reduced Iranian exports.
Former Congressman Harold Ford penned a very informative editorial in the Wall Street Journal with some very constructive suggestions for the economy.
Harold Ford, a businessman, public policy professor, and a long-time New York resident, is not only eloquent but also right on the money.
By working to boost domestic oil production, the U.S. economy will be that much more resilient to potential supply shocks emanating from the Middle East.
Additionally, further measures on corporate taxes will bring more overseas capital and jobs stateside.
If the Obama administration plays by some of Ford's suggestions, they will succeed in taking significant ground away from the Republican Party ahead of the November elections.
A powerful earthquake rattled Acapulco in Mexico; fortunately there was no serious damage in Mexico City.
Portuguese bonds continue to trade heavy; Portugal will likely come back into the spotlight soon.
The CDS (credit default swap) contract roll occurred without much of a hitch.