Quick Overview

• The Conference Board's U.S. index of leading indicators rose by 1.1% in January, to a record high of 140.1.
  

• A high-ranking Japanese banker urged the Bank of Japan on Tuesday to end its ultraloose monetary policy as quickly as possible and return to a "more normal" stance.
  

• Moody's Investors Service lowered General Motors Corp.'s debt rating further into "junk" territory Tuesday, citing doubt the company can set up competitive wages and benefits without filing for bankruptcy protection.
  

• Canada's index of leading indicators rose by 0.5% in January to 211.4.
  

• In January the U.K. posted a monthly budget surplus of 12.6 billion pounds. This is the largest surplus in thirteen years .
  

• The USDA said that, on January 31st, there were 61.3 million pounds of frozen bellies in storage, down 3% YoY. Frozen pork totaled 528.5 million pounds, up 6% YoY.
  

• The USDA said that, on January 31st, there were 1.064 billion pounds of frozen orange juice in U.S. cold storage, down 32% YoY.
  

• Dow-Jones Newswires reported that because of strong ethanol demand, Brazil will reduce ethanol in its gasoline from 25% to 20%.