Archive - Sep 2, 2010

The market may go up or down after tomorrow's NFP, but one thing is certain: the Hamptons labor day weekend is ruined for all those who day trade the S&P (with a $150BN+ VaR).

• Asian stocks rise to two-week high on US manufacturing data; Canon gains.
• Australia Q2 GDP grows 1.2% - fastest pace in three years.
• Bernanke, Bair to present views of crisis to inquiry panel.
• Brazil holds rate at 10.75%, meeting expectations.
• Economy seen avoiding recession relapse as US data can't get much worse: Survey.
• Indian sugar production may jump 38% next year on higher planting, rains.
• Manufacturing in US grows at faster pace as factories extend recovery.
• Trichet may say ECB to keep emergency lending measures in place into 2011.

With the dramatic rise in gold's popularity many still need to be educated about some of the core concepts of the gold market, such as who holds it, and who produces it. Courtesy of Money Hacker we have a useful visual representation that answers precisely these two questions. In addition, here are some of the most useful and trivial factoids about gold, that have no bearing on its price whatsoever, but serve as perfect cocktail small talk.

Today's key economic events include weekly claims, productivity revisions, retail chain store reports, pending home sales, factory orders, and the Fed’s weekly report on its own balance sheet, plus testimony from Chairman Bernanke and some other FOMC speakers.

RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 02/09/10