• OTC Derivatives: Is the DTCC Too Big To Fail?
    rc whalen
    02/09/2010 - 08:06
    At our firm we frequently receive calls from clients and readers asking about the likelihood of the passage by the Congress in Washington of reform legislation regarding over-the-counter (OTC) derivatives, financial regulation and/or mortgage securitization. Our answer is small to none given the political trends and the state of the lobbies in Washington, most specifically the large bank lobby that protects the Sell Side monopoly in OTC derivatives and securities. The fact that Senator Richard Shelby (R-AL) is still apparently not comfortable with the entirely watered down House proposal to reform OTC derivatives, for example, tells you all you need to know. Stick a fork in it.
  • The Coming Pan-European Soverign Debt Crisis
    Reggie Middleton
    02/09/2010 - 05:12
    The levered assets of the banks in many Euro-sovereign nations easily outstrip those nations' GDP's. So when the nations' banks get in trouble from bad banking practices (and a very large swath have), the nations themselves are helpless in attempting to truly save the banks (and instead only institute a bait and switch wherein private default risk/insolvency potential is swapped for public manifestations of the same).
  • NYSE Euronext Announces Trading Volumes for January 2010
    Chopshop
    02/09/2010 - 02:41
    Derivatives trading volumes in January 2010 were stronger, with European derivatives volumes increasing 32.4% and U.S. options trading volumes increasing a whopping 102.4% y/o/y. Cash equities trading volumes were mixed, with European cash transactions increasing 4.1% and U.S. cash equities trading volumes declining 23.7% from Jan '09. Total interest rate products ADV of 2.7 million contracts in January 2010 increased 37.8% from January 2009, and increased 50.5% from December 2009. Total interest rate product ADV is at the highest level since March 2008 !

Daily Highlights: 10.30.09

Tyler Durden's picture
Submitted by Tyler Durden on 10/30/2009 07:21 -0500



  • Asian Stocks rise as earnings, Japan jobless data, stoke growth optimism.
  • Bank of Japan keeps benchmark rate at 0.1%, stops buying corporate debt.
  • Dollar falls for fourth month against Euro, US growth aids risk demand.
  • Japan central bank forecasts 3 years of deflation as it ends emergency credit steps.
  • Oil poised for biggest monthly gain since May on optimism over US demand.
  • U.S. Economy expands for the first time (+3.5%) in more than a year amid stimulus.
  • U.S. Home vacancies increase to 18.8M as lenders seize properties.
  • Alcatel-LucentQ3 net loss widens to $269 million as carrier sales in Europe fall.
  • Audi 3Q operating profit falls 54 percent to $515 million.
  • Bare Escentuals reported Q3 EPS of $0.24, exceeding average analyst estimate by 17%.
  • Burger King's Q1 net falls 3.2% to $46.6M as revenues fell 5% to $636.9M.
  • Expedia Inc.'s Q3 net rises 23% amid higher bookings, rise in hotel, car rental revenue.
  • Exxon Mobil reported a fourth straight drop in profit after demand slumped for fuels.
  • Kodak's Q3 loss stood at $111M, as revs fell 26% to $1.78B - worse than expected.
  • Macquarie Infrastructure to split its portfolio of roads into two separately listed entities.
  • MetLife Inc. reported a $620M qtrly loss led by $857M of derivative losses.
  • Motorola posted a Q3 profit of $12M, as cost cuts offset a 28% drop in revenue.
  • Panasonic ups Y09 operating profit f'cast 60% on improving sales.
  • Priceline.com to replace Schering-Plough which is being acquired by Merck, in S&P 500 Index.
  • Procter & Gamble's earnings fell 1.2% as revenue slid. Colgate's profit rose 18%.
  • Samsung Electronics posts record $3.1B profit on chip, LCD prices.
  • Sony swung to Q2 loss of $287.5 million, but expects its full-year loss to narrow.
  • Sprint Nextel's Q3 loss widened to $478M as subscribers continued to exit the co.
  • Toshiba ekes out small profit to $1.1M in 2nd quarter on cost-cutting, higher memory chip sales.
  • Volvo rival offer by Sweden's Konsortium Jakob may be made by end of week.

Economic Calendar: Data on Personal Income-Spending, Chicago PMI to be released today.

Earnings Calendar: ACI, AEE, ALU, AOC, CEG, CMI, CVX, D, DUK, EL, GAS, LNT, MDC, MDU, SNE, SNY, WPO, WY.

Recent Egan-Jones Rating Actions

ILLINOIS TOOL WORKS INC (ITW)
STANLEY WORKS/THE (SWK)
FLOWSERVE CORP (FLS)
BORGWARNER INC (BWA)
ALCOA INC (AA)
SEALED AIR CORP (SEE)
OFFICEMAX INC (OMX)
GOODYEAR TIRE & RUBBER (GT)
US CONCRETE INC (RMIX)
NEWELL RUBBERMAID INC (NWL)
CIT GROUP INC (CIT)
NEW YORK TIMES CO/THE (NYT)
BEMIS CO INC (BMS)

Data provided by Egan-Jones Ratings and Analytics

0
Your rating: None

»


by SDRII
on Fri, 10/30/2009 - 07:37
#114911

Last month saving rate revised down to 2.8% while this month goes to 3.3%. Wages and income down – transefer payments up and taxes down - on trend. That drives the better bottom line disposable personal income.  Prosperity is back

by Danz Gambit
on Fri, 10/30/2009 - 07:38
#114912

The whitehouse vs edmunds.com over C4C - lol

"The Obama administration on Thursday lashed out at a prominent critic of its Cash for Clunkers program, arguing that the popular trade-in initiative helped give the auto industry and the economy a much needed boost in the past few months.

In a blog post on whitehouse.gov, the administration argued that a report on Clunkers by automotive Web site Edmunds.com "doesn't withstand even basic scrutiny" and is based on "implausible assumptions.""

 

Can't wait till the day the .gov has to rebut a story first presented by ZH

by gookempucky
on Fri, 10/30/2009 - 08:04
#114928

US Govnt Epitaph-----borrowed to death---amount to large to write.

continuing saga.

http://www.bloomberg.com/apps/news?pid=20601206&sid=aXV_9HqO0kJg

 

by Atlas_mugged
on Fri, 10/30/2009 - 08:20
#114933

White House data due out this afternoon will show the government's economic stimulus programs created or saved about 650,000 jobs through Sept. 30 - a figure officials are prepared to tout as a significant success. The reports cover only $150B of the $339B in stimulus spending that occurred through that date.

Amazing!! If you take the White House at its word regarding the jobs it has saved (I don't), we've spent $230,769.23 per job created/saved.

It sure does help that idiots like this (http://www.y*utube.com/watch?v=19v5Kjmc8FI&feature=related) have no fucking clue about basic math, economics. money, work, value, productivity, etc.

I don't know whether to laugh or cry.

by glenlloyd
on Fri, 10/30/2009 - 10:52
#115115

Smoke and mirrors boys, smoke and mirrors.

by heatbarrier
on Fri, 10/30/2009 - 11:53
#115207

Tyler, A suggestion on how to organize main blocs daily highlights, CB is doing a greta job in the EU, consider organizing the other two blocs the same way, you can't trade/invest without having a clear picture of all blocs,

US Highlights
EU Highlights
Asia Highlights

http://www.zerohedge.com/article/european-highlights-october-30#comment-...

Heat

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