Archive - Dec 2, 2009 - Story

The dollar just spiked on more concerns that Japan's currency posturing may be more than just bureaucratic jawboning. The algos that trade the market as a derivative of the dollar decide to puke stocks. Somewhere Bernanke is rehearsing his reconfirmation speech which emphasizes the Fed's strong dollar policy

Our network provider had a rather exciting failure.  First a router popped (9:15 ET) then they had a systemic power failure (9:53 ET) which, while it was covered quickly by backup, rebooted a number of boxes, including Zero Hedge's.

US consumers keeps on purchasing Kindles on credit cards which they apparently have no intention of every paying off. The most recent Fitch report disclosed that October delinquencies have continued their steady climb, and together with charge-offs, are at near record highs: "Consumer credit quality remains under significant strain as a result of the persistent weakness in the labor markets," noted managing director Michael Dean. The Labor Department will report unemployment data Friday; the jobless rate is expected to hold steady at 10.2%, the highest level in decades, while the decline in payrolls is seen mitigating from the previous month.

• RBS Says ‘Restrictive’ Bonuses May Prompt Staff Exits (Bloomberg)
• The Nobel peace prize winner escalates inherited war (Bloomberg)
• Roubini's bubbles float on flimsy credit source (Bloomberg)
• As repeatedly highlighted on Zero Hedge, devaluations threaten a trade war (FT)
• Who would want to be a Vampire Squid at Christmas (Telegraph)
• More posturing out of Japan: Yen falls after PM Hatoyama says currency must be dealt with (Bloomberg)

• Alwaleed says 'mature' banks made wrong assumptions about Dubai debt risks.
• Asian stocks rose for a third day, lifting the MSCI Asia Pacific Index to a 6-week high.
• Economic reports signal modest growth ahead
• Stocks climb as falling dollar boosts commodities
• US may reap $3.17B from the first auctions of warrants for bailing out banks
• Gold hit an exchange-record above $1,200 at one point, before settling just below it.

RANsquawk 2nd December Morning Briefing - Stocks, Bonds, FX etc.

RANsquawk 2nd December Morning Briefing - Stocks, Bonds, FX etc.