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Frontrunning: April 25
- Bill Gross Battles Dealers on Outlook as Treasuries Gain (Bloomberg)
- Jim Saft chimes in: Triumph of gold, the anti-investment (Reuters)
- Fed Searches for Next Step - New Focus on Interest-Rate Plan as Controversial Bond-Buying Strategy Winds Up (WSJ)
- Iran says it has detected second cyber attack (Reuters)
- Classified Files Offer New Insights Into Detainees (NYT)
- Illnesses Surge Among Quake Victims (WSJ)
- ECB-forced 'run on our banks' led to bailout (Independent)
- BOJ to Hold Fire, Stick to Recovery View Despite Quake (Reuters)
- OPEC unlikely to change output in June (Retuers)
- SEC, CFTC to Unveil Swaps Definition Proposal (Reuters)
- EU Closer to US-Style Financial Reform (FT)
- China consumer prices likely to rise 4.5 pct in 2011 (Xinhua)
- China must watch for rising U.S. Treasury yields: researcher (Reuters)
- Tanks in Syria's Deraa city, bodies in street -witness (Reuters)
- NATO Strikes Qaddafi Compound as Loyalist Forces Shell Misrata (Bloomberg)
- Yemen: President Saleh's forces fire on Taiz protesters (BBC)
- Crisis-hit Tokyo Electric to cut top exec pay by half (Reuters)
- Tepco Pumps Tainted Water From Reactor Trenches, Adds Backup Power Cables (Bloomberg)
Daily Highlights courtesy of Egan Jones
- China official: 2Q CPI rise likely 4.9%-5.1%.
- Coburn says Medicare, Medicaid spending must be included in budget talks.
- Dollar hits a fresh 29-year low against the Australian dollar.
- Gold prices hit record, spot price at $1,514.
- Japan’s Opposition wins by-election as crisis erodes support for Kan’s DPJ.
- Most Asian stocks advance as financial shares gain; Acer slumps on profit.
- Oil floats near $113 as damaged fields shut Libya output.
- Yen weakens on outlook for interest rates; Gold rises to record, Oil gains.
- AMD reported Q1 profit that beat analysts’ predictions, citing demand for its new chips.
- Barrick to buy Equinox for C$7.3B.
- B/E Aerospace's Q1 net rose 49% to $50.3M on 29% higher revenue at $600.2M.
- C.R. Bard beats by $0.05, reports Q1 EPS of $1.51. Revs rose 7.6% to $700.3M.
- Chubb beats by $0.19, beats on revs. Posts Q1 EPS of $1.35. Revs rose 3.4% to $2.86B.
- CIT agrees to sell Dell-related Canadian and European assets and functions to Dell.
- Cooper Ind.'s March net income triples.
- Exxon said to shut Thai refinery to modify units to cut sulphur in fuels.
- Ford Motor may report its largest Q1 profit since 1998 due to sales gain.
- JPMorgan, Lehman Brothers trustee reach agreement on return of customer assets.
- Michael Dell looks beyond PC business, working to reduce co's reliance on consumer PCs.
- Nintendo Co. posted a decline in 2010 profit - second straight year, on sluggish sales.
- Party supplies company Party City Hldgs plans a $350M IPO.
- Polycom beats by $0.06, posts Q1 EPS of $0.48. Revs rose 24.6% to $344.2M.
- SanDisk posts Q1 EPS of $1.03 (cons $1.00); revs rose 19.2% to $1.29B.
- Sohu.com Inc. first-quarter net profit rose 48% YoY, beating expectations.
- Tenet Healthcare board rejected a revised bid from Community Health Sys - says that it "grossly undervalues" the company.
- Toyota car production in Japan falls 62.7% due to parts supply shortage after tsunami.
- Williams Partners to buy most of Williams' remaining interest in Gulfstream Sys for $330M.
- YRC Worldwide reports progress in restructuring talks.
Economic Calendar: Data on New Home Sales to be released today.
Earnings Calendar: AAI, ACGL, BEAV, BEC, BSRR, CHE, CITZ, CQB, DXYN, ELX, FBNC, HGSI, HXL, IBI, JCI, KMB, NFLX, RCII, RSH, UBCP, UIS, WCN.
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Just because Jim Saft says it's the paranoid and anti investment and I made bookoo over the weekend
SILVER BITCHEZ
The NYT job on Gitmo has been every bit of statist disgraceful we'd expect from a bankrupt, and begging for stolen tax loot as a bailout, newspaper.
The Guardian is a little better.
http://www.guardian.co.uk/world/series/guantanamo-files-documents
BTFD, Silver just dropped below $48. BUY BUY BUY!
Really? thoughts on the rate going back to 50 before the week's end?
www.forecastfortomorrow.com
WTF, there's a Mish article on BI, he seems to change his tune; no more DEFLATION DEFLATION DEFLATION but "hyperinflation is unlikely".
http://www.businessinsider.com/inflation-miracle-cure-211
US-Style Financial Reform. fraud!
Here it is....
The big setup is becoming clearer....
As one should know....bankers could care less about the name of the paper that is being traded....they could care less if the label was brent crude or apples...or even sand....
If the paper position gets tilted by the masses...it is clearly becoming setup time...
It is becoming setup time for the inflationistas and all that is correlated to this point of view...ie all commods....
.............
Baked in the cake ...pals....
..............
Deflation...especially after no QE ....will become rampant....
Don´t think so ....OK....Where is the money .....
THINK AGAIN.....
Idiots in Palm Beach County think every victim of criminal perjury, like forgery of a sworn instrument (affidavit) is a "robo-signer".
Process Server who received $10 to serve each Summons & Complaint, on behalf of banks who manage trillions, says her signature is a forgery, the notary a sham.
http://www.palmbeachpost.com/money/foreclosures/local-robo-signer-allege...
If I didn't robo-sign it, it didn't happen.
Barrick to buy Equinox for C$7.3B
Gotta love how this story, excuse me, "daily highlight", is downplayed and relegated to the back of the bus.
Looks like the price of Equinox suddenly jumped around April 1. Not quite to the $8.15 price, but most of the way there.
But there's no insider trading in the mining biz, no, there can't be.
Long VIX
Loading RWM
I love - LOVE that WSJ Hilsenrath (or HilsenRAT as I call him; proxy mouthpiece of all things Federal Reserve Bank) article as I can sum it up thusly:
Not only is The Bernank a massive failure of an economist and human being, and not only have his policies of QE & ZIRP been two of the largest economic policy failures of all time, resulting in the risk of a new, global systemic crisis that makes 2008 look like the golden days, but other economists are discovering that voicing even tepid support of The Bernank's galactically idiotic policies causes Credibility Resource Implosion SNAFU Imbecilus Syndrome (CRISIS).
Don't sell your silver yet! wait for more of the cheesy ads to come out, prices are still going to climb for a bit.
www.forecastfortomorrow.com
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