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Daily Highlights: 9.14.2010 - Kan Wins Party Vote, Yen Surges To Fresh Highs On No Intervention Threat

Tyler Durden's picture




 
  • Asian commodity stocks rise on growth hopes; Japanese shares fall on Yen.
  • China's currency advances to a fresh high against the U.S. dollar; CB sets the yuan-dollar parity rate at 6.7378.
  • China plans to introduce credit-default swaps by year-end, Official says.
  • Euro rises against dollar in morning European trading to $1.2877.
  • European industrial production stagnant in July.
  • EU raises 2010 growth forecasts; warns growth likely to slow in H2.
  • German investor confidence may decline to 18-month low as economy cools.
  • Greece raises $1.5B in oversubscribed 26-week treasury bill auction.
  • Hong Kong to lead housing growth; US, Europe face interest-rate threat.
  • Japanese PM wins party vote; will stay in power.
  • Ohio State's $655M sale leads a resurgence in Build America Bonds.
  • Saudi reveals large unconventional gas reserves.
  • Turkey's economy grows 10.3% in second quarter.
  • US corporate credit risk benchmark declines to the lowest in five weeks.
  • Wen says China's economy is in 'good shape,' cautions on property prices.
  • Yen rose sharply after PM Naoto Kan survived a challenge to his leadership.
  • AIG in talks to speed up an exit plan designed to repay taxpayers' money.
  • Allied Irish in race to raise $6.3B after selling Polish bank unit.
  • Bank of America should repurchase $20B in mortgages, Insurers say.
  • Chinese pipe makers Tianjin, Hengyang face US import duties of up to 99%.
  • Churchill Downs to acquire a small Mississippi casino for $138M in cash.
  • Cigna Corp. is expanding overseas to find growth amid uncertainties at home.
  • HB Fuller misses by $0.06, reports Q3 EPS of $0.38 as revs rose 7.4% to $338.6M.
  • Microsoft is said to plan debt sale to pay for dividends, buy back shares.
  • Nokia's smartphone business, Anssi Vanjoki, resigns.
  • Philips says it will grow sales 2% faster than the global economy for the next 5 years.
  • Toyota will introduce 6 new hybrid, gasoline-electric vehicles by 2012 globally.
  • US Justice Dept expects to file a civil suit in relation to Deepwater Horizon oil spill.
  • Volkswagen's August sales rose 11.2% to 545,500 vehicles.

Economic Calendar: Data on Retail Sales, Business Inventories to be released.

Earnings Calendar: BBY, GMTC, KR, LAKE, MDZ, PLL, PRLS, WPCS.

RECENT RATING ACTIONS
MARATHON OIL CORP (MRO)
BB&T CORP (BBT)
BE AEROSPACE INC (BEAV)
COLLECTIVE BRANDS INC (PSS)
AMGEN INC (AMGN)
WR BERKLEY CORP (WRB)
SYMANTEC CORP (SYMC)
CLOROX CO (CLX)
ZIONS BANCORPORATION (ZION)
MARSHALL & ILSLEY CORP (MI)
CIMAREX ENERGY CO (XEC)
CIMAREX ENERGY CO (XEC)

Data provided by Egan-Jones

 

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Tue, 09/14/2010 - 08:01 | 580249 Paper CRUSHer
Paper CRUSHer's picture

Arr Tyler,Arr i'm considerin' buyin' thee ol'Nikkei now that ther yen is at levels last seen when i was a whee little nipper.What d'yer say mee buckoo?

Tue, 09/14/2010 - 08:11 | 580262 Azannoth
Azannoth's picture

"China plans to introduce credit-default swaps..." - so they want to lear Capitalism the hard-way, let them have it i say

Tue, 09/14/2010 - 08:24 | 580273 unwashedmass
unwashedmass's picture

 

silver is happening. anyone who wants to take a punch or two at JPM, don't miss the chance to help give them one up the dooper.....buy silver.....

Tue, 09/14/2010 - 08:29 | 580279 Turd Ferguson
Turd Ferguson's picture

And, I would add, prone to 18 straight weeks of outflows...

http://news.yahoo.com/s/ap/20100914/ap_on_bi_ge/us_ap_cnbc_poll_investors

Tue, 09/14/2010 - 08:33 | 580283 Ethics Gradient
Ethics Gradient's picture

"stocks rise", "repay taxpayers' money", "oversubscribed 26-week treasury bill auction", "grow sales 2% faster",  "sales rose 11.2%", " raises 2010 growth forecasts", "reveals large unconventional gas reserves", "expanding overseas", "Euro rises".

I shall proceed with Tuesday with a new-found sense of optimism.

Happiness through self deception. It's the future.

Tue, 09/14/2010 - 09:07 | 580319 Jason T
Jason T's picture

After reading "The Great Inflation" about Germany from 1919-1923, the biggest lessons learned are that printing money is a deal with the devil and having foreign currency or precious metals is the way to go.  

 

Those considered responsible need to be careful.  People don't like to have their futures stolen.

Tue, 09/28/2010 - 02:39 | 609260 Herry12
Herry12's picture

Thank u, i found this for a long time.
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