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The cost to insure the Italian debt catches up with Portugal’s at 181.80

Markit’s PMI(retail) is out for France. The headline Retail PMI registered 45.2, down from 58.4 in the previous month. (Full report)

Markit’s PMI(retail) is out for the Eurozone. The PMI sank to 49.9 in February, from 55.8 in January (the highest figure since May 2006), indicating that revenues had failed to grow for the first time since last October. (Full report)

“Speculation…”  (CNBC) But maybe as important to the price of oil Thursday was the fact that Nymex and ICE, in a seemingly coordinated fashion, raised margin requirements on crude futures, by as much as 20 percent. The most speculative type of investments would now require a margin deposit of $6,075 from $,5063, on a contract with a notional value of about $100,000.

But don’t make mistakes, markets regulators interventions can’t change any fundamental trend nor alter the market liquidity without taking the risk to watch prices volatility spike out making things worse than what “the speculators” actions may do. It doesn’t mean regulators should do nothing when witnessing an extraordinary situation but the balanced action between the liquidity need and the need to avoid an overcrowded buying or selling position is always a tough challenge.