by Calculated Risk on 3/10/2011 08:58:00 PM

• The Libya situation is grim.

From the NY Times: U.S. Escalates Pressure on Libya Amid Mixed Signals

From the WSJ: Gadhafi Forces Escalate Attacks

• Friday is the so-called "Day of Rage" in Saudi Arabia

From Reuters: Shooting and injuries before Saudi day of protest

Saudi police fired in the air to disperse protesting Shi'ites and three people were injured on the eve of a day of protests called for Friday by activists using the Internet.

Protests were planned in other Gulf countries such as Yemen, Kuwait and Bahrain.

U.S. WTI oil prices fell slightly to $102.75 today.

• European Financial Crisis

From Bloomberg: Spain's Rating Downgraded to Aa2 by Moody's Over Bank Cost Concerns

From the Financial Times: Eurozone leaders to meet on stabilisation pact. Not much is expected at this meeting - this was a prelude to the meeting of all 27 EU leaders in Brussels on March 24th and 25th.

• House Prices declined 2.5% in January, Prices at New Post-bubble low, see Graph here

• Trade Deficit increased in January to $46.3 billion, see Graph here

• Weekly Initial Unemployment Claims increase to 397,000, see Graph here.

• Q4 Flow of Funds: Household Real Estate assets off $6.3 trillion from peak