Archive - Apr 11, 2014

• Sensitive Market Data Leaked After Government Phone Call (WSJ)
• This is a actual Bloomberg headline: China Fake Data to Skew More Export Numbers (BBG)
• This is another actual BBG headline: U.S. as Global Growth Engine Putt-Putts Instead of Purring (BBG)
• Ukraine wants to buy European gas to boost energy security (Reuters)
• JPMorgan Profit Falls 19% on Trading, Mortgage Declines (BBG)
• Record Europe Dividends Keep $2.8 Trillion From Factories (BBG)
• Why is Goldman shutting down Sigma X: SEC eyes test that may lead to shift away from 'dark pools' (Reuters)
• Ebola Outbreak Empties Hotels as West Africa Borders Closed (BBG)
• Australian PM says searchers confident of position of MH370's black boxes (Reuters)
• Gross Says El-Erian Should Explain Reason for Exit (BBG)

After a selloff as violent as that of last night, usually the overnight liftathon crew does a great job of recovering a substantial portion of the losses. Not this time, which coupled with the sudden and quite furious breakdown on market structure, leads us to believe that something has changed rather dramatically if preserving investor confidence is not the paramount issue on the mind of the NY Fed trading desk. Nikkei 225 (-2.38%) suffered its worst week since March'11 amid broad based risk off sentiment following on from a lower close on Wall St. where the Nasdaq Biotech index suffered its largest intra-day decline since August 2011. Negative sentiment carried over into European session, with stocks lower across the board (Eurostoxx50 -1.17%) and tech under performing in a continuation of the recent sector weakness seen in the US. JP Morgan (JPM) due to report earnings at 7:00AM EDT and Wells Fargo (WFC) at 8:00Am EDT.