541 Million Barrels of Crude Oil, and Two More Numbers to Knowtop male enhancements online


Three numbers to start your day:

Federal Reserve Buys $8.7 Billion in ETFs and Corporate Bonds

That is about how much the Federal Reserve has spent in an effort to facilitate borrowing by businesses.

The vast majority of the money has been invested in exchange-traded funds rather than through direct bond purchases. The amounts are also tiny, compared with the nearly $10 trillion of outstanding corporate debt.

Barron’s reports that almost 60% of the bonds were rated triple-B -- the lowest segment of the investment-grade market. Nearly a fifth of the borrowers were companies based outside the U.S., like Toyota, Volkswagen, and Daimler. But the bonds being purchased are issued by their American vehicle-financing arms, which means that U.S. consumers should be the ultimate beneficiaries.

that is for the week ended June 19—a record. Crude oil inventories are up 26% from a recent low in mid-January thanks to a drop in demand for gasoline, diesel, jet fuel, and other refined products.

U.S. oil output and imports from abroad both fell in response to lower demand, but not quickly enough to prevent inventories from rising sharply.

American gasoline consumption has rebounded 70% from the lows in early April, although it remains well below normal for this time of year. That has helped slow the weekly growth rate of crude inventories, but it hasn’t been sufficient to reverse the increase in stored crude oil.

70% Drop in Seated Restaurant Diners in Pandemic Hot Zones

That is the drop in the number of seated restaurant diners in Houston and Phoenix in the week ended June 28. That is when compared with the same week a year ago, according to daily data from Open Table.

Just a few weeks earlier, the number of diners in both cities was down only 50% from last year. That means that over just the past few weeks, sit down restaurant foot-traffic in those two cities is down almost 40%.

Thet worsening coronavirus outbreaks in the two cities have made many people realize that eating out isn’t as safe as they had thought. Unfortunately, this realization came too late. 95% of all “phase 1 intensive care units” in Houston’s Texas Medical Center system are already occupied. In Phoenix, ICU usage is at 88%.

Numbers by Barron’s is our daily podcast. Find out morehere.

Write to Matthew Klein at matthew.klein@barrons.com