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Global markets: Official says Fed considering rate hike

By Commodity News Service Canada

WINNIPEG, May 24 – The following is a glance at the news moving markets globally.

FED OFFICIAL SAYS ECONOMY COULD SUPPORT RATE HIKE
John Williams, president of the Federal Reserve Bank of San Francisco, said the US economy could withstand an interest rate hike, according to reports on Tuesday.

Williams added that the Fed is considering an interest rate increase in June.

US REFINERS SEE INCREASED DEMAND FOR DIESEL
US refiners have seen their strongest diesel margins in months, according to data out of the country on Tuesday.

A profit indicator, called the diesel crack spread, has gained about 40 per cent since the start of the month due to increased demand, reports say.

CANADIAN HOUSEHOLD WASTE UP
Canadian households produced 14.3 million tonnes of waste in 2012, up 27 per cent from 2002. The share of diverted waste rose from 25 per cent to 33 per cent over the same period, as larger amounts of electronic waste were diverted, Statistics Canada said in a report on Tuesday.

According to StatsCan, from 2008 to 2012, the amount of diverted electronic waste nearly tripled from just over 24,000 tonnes to slightly more than 71,000 tonnes, partly as a result of an increase in the number of programs that take back electronic products.

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