Frontrunning: April 5

Tyler Durden's picture
  • Hilsenrath speaks again: BoJ Considers Measured Quake Response  (WSJ)
  • Bernanke Says Fed Will Act If Inflation More Than ‘Transitory' (Bloomberg)
  • IMF Chief: 'Black Swans' Still Haunt Global Finance (WSJ)
  • Will the Real Phillips Curve Please Stand Up? (Hussman)
  • China Raises Interest Rates to Counter Inflation Pressure (Bloomberg)
  • Japan Food-Supply Issues Raise Questions on Tariffs, Imports (WSJ)
  • Fed's Bernanke Downplays Inflation Fears (WSJ)
  • U.S. Budget: Demagoguery and Sophistry Reign (RCM)
  • Asian Central Banks Aim to Weaken Currencies (WSJ)
  • Libyan Rebels Set for First Crude Exports (FT)
  • How to Avoid the Pitfalls of a New Tech Bubble (Bloomberg)
  • UN Helicopters Fire on Ivory Coast Forces (FT)
  • Fears for Lisbon as Yields Near 10% (FT)
  • Greens Wait in Wings if Merkel Swaps Partners (FT)

European economic summary:

  • Euro-Zone PMI Composite for March 57.6 – higher than expected.Consensus 57.5 Previous 57.5
  • Euro-Zone PMI Services for March57.2– higher than expected.Consensus 56.9 Previous 56.9
  • Euro-Zone Retail Sales for February -0.1% 0.1% y/y – lower than expected.Consensus 0.1% m/m 0.6% y/y. Previous 0.2% m/m 0.4% y/y.
  • Germany PMI Services for March 60.1 – in line with expectations.Consensus 60.1. Previous 60.1.
  • France PMI Services for March 60.4 – lower than expected.Consensus 60.7. Previous 60.7.
  • UK PMI Services for March 57.1 – higher than expected.Consensus 52.6. Previous 52.6.
  • UK Official Reserves (Changes) for March $2254M.Previous $904M.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Careless Whisper's picture

What Would Tony Montana Do?

Walid Makled, the alleged Venezuelan drug kingpin at the center of a U.S. extradition battle, raised the stakes over the weekend, telling a television station that he was willing to share information about his ties to Venezuelan officials, Colombian guerrillas and Middle Eastern terrorist groups with U.S. prosecutors.

jkruffin's picture
KB Home 1Q loss widens on fewer home deliveries KB Home 1st-quarter loss widens as company delivers fewer homes and net orders decline

On Tuesday April 5, 2011, 8:23 am

LOS ANGELES (AP) -- KB Home's fiscal first-quarter loss widened, as the homebuilder delivered fewer homes and net orders declined.

But the Los Angeles company said it is encouraged by higher traffic at the beginning of spring selling season.

The company lost $114.5 million, or $1.49 a share, for the three months ended Feb. 28. That compares with a loss of $54.7 million, or 71 cents a share, a year ago.

The quarter included a $45.1 million charge.

Analysts expected a loss of 25 cents a share.

Revenue dropped 25 percent to $196.9 million from $264 million, missing Wall Street's $225 million estimate.

Net orders fell to 1,302 from 1,913, while homes delivered dropped 28 percent to 949.

KB Home builds homes to order for entry level, move-up buyers and seniors in 12 states.


Yea, housing is rocking and rolling ain't it. These are ugly numbers for real.

augie's picture

everyday i look at zerohedge, and everyday i am further convinced that the singer of suicidal tendencies really isn't crazy. Institution.

Careless Whisper's picture

word of the day: transitory.     as in:

"I think the increase in inflation will be transitory," Bernanke said


ivana's picture

Truly amazing!
Getting in BB head: can anybody imagine what does he realy think about "public" he's talking to?

Level of hypocricy, disrespect, negligence, unconcern and abuse of public interests... which goes on and on and on

The Axe's picture

Hey, want to put something up on that line ---How about KBH---talk about a revenue miss and earnings drop...fucking 25%  think the double dip is HERE....

jkruffin's picture

Looks like they are going to push Gold back to test that 1415 area today, might open up a buying opp.

AGuy's picture

Breaking News June 2012 - While Inflation has steady risen to 7.5% per month, Federal Chairman Bernanke restated the commitment to manage inflation. Bernanke promised to act if and when inflation gets out of control.


Breaking News Oct 2013 - Inflation has dramatically increased to 17.2% per month. The Fed was asked what action is proposes to enact. Bernanke re-iterated that higher inflation is transitory and will have no significant impact on the economy. With mandatory pricing controls on selected goods and services there is no reason to aggressively address inflation yet. Gold: $2239 Silver 61.23 Oil 139.22.


Breaking News Feb 2015 - Inflation continues to rise despite the rising unemployment, as large number of jobs have been lost. After the collapse of Airline  and Auto industries, to  the fed increased its efforts to purchase debt, both gov't and private in order to preserve low interest rates to stimulate job growth. "With the loss of so many jobs now is not the time to get tough on inflation" Bernanke told reporters. Gold: $32,105 Silver $922.55 Oil $291.63.


Breaking News September 2015 - Texas, Vermont and Wyoming begin the process of sucession from the United States. The three governors of these states will all have press conferences today to make the announcement. All three states have begun the process to issue state currencies so they can purchase and sell goods. Bernanke has announced his retirement today. "I will be retiring in order to spend time with my family overseas." Bernanke told reporters. Benanke's family left the United states some 18 months ago in order to flee the violence in the United States. "My job is nearly done, as states make there order transistion into seperate sovergn nations. The functions of the Federal reserve will no longer be required", Benanke commented. Gold: N/A in USD Silver: N/A in USD Oil: N/A in USD Copper: $6.2 Million Aluminum: $4.2 Million.

sbenard's picture

I read Hussman's article yesterday!

I propose Hussman for Fed Chairman!

Impeach "Bubbles" Bernanke NOW!

cocoablini's picture

When inflation was running high, Ben conveniently leaves out energy and housing in his statistics. Too volatile.
Now, he uses housing as an example to show that inflation is under control and frequently avoids using food or energy in his statistics.
He cherry picks sectors to fit his world view model. Which is why economists are considered lower life forms than lawyers. These guys should know 3rd grade math, but make up complicated algos and formulas that tell them what they want to hear.
Complete idiots!
And to combat corrective deflationary pressures on assets and credit they juice base prices to force price inflation up the manufacturing channel right into peoples wallets- so the FED gets your savings into the money velocity by stealing.
The world is fucked up because wackos like economists drive the system.

thames222's picture

Of course current inflation is more than "transitory."  it's a punch in the face, finally they cut some spending and adjusted the budget, it's a start but surely not a long-term fix.