Frontrunning: April 7

Tyler Durden's picture
  • China Inflation May Hit 6%, No End to Tightening (China Daily)
  • Portugal Bailout May Reach $129 Billion (WSJ)
  • Brazil Takes Fresh ‘Currency War’ Action (FT)
  • Obama Says Meeting ‘Narrowed the Issues’ on Budget Impasse (Bloomberg)
  • Government Shutdown Threatens 800,000 As Obama Seeks Solution (Bloomberg)
  • Ireland will need another bailout, says former IMF director (Guardian)
  • Japan to Head Off Hydrogen Blast (WSJ)
  • U.S., Italy Consider Arming Rebels to Speed Qaddafi Ouster (Bloomberg)
  • European banks in further capital calls (FT)
  • Expected Rate Rise in Europe Hits Commodity Prices (FT)

European Economic Highlights

  • ECB Announces Interest Rates1.25% - in line with expectations.Consensus 1.25%. Previous 1.00%.
  • Germany Industrial Prod. (nsa wda) for February 1.6% m/m 14.8% y/y - higher than expected.Consensus 0.5% m/m 13.2% y/y. Previous 2.0% m/m 12.7% y/y.
  • France Trade Balance (Euros) for February -6553M - lower than expected.Consensus -5600 Previous -6124M.
  • Sweden Service Production SA for February 0.3% m/m 5.8% y/y - higher then expected.Consensus 5.6% y/y. Previous 0.5% m/m 4.8% y/y.
  • Sweden Budget Balance for March -2.9B.Previous 67.7B.
  • Norway Industrial Production SA for February 0.1% m/m -6.1% y/y. Previous -2.8% m/m -6.4% y/y.
  • Norway Ind Prod Manufacturing SA for February -0.3% m/m 2.0% y/y – lower than expected.Consensus 0.5% m/m 3.0% y/y. Previous 0.6% m/m 3.3% y/y.
  • UK BOE Asset Purchase Target for April200B–in line with expectations.Consensus 200B Previous 200B.
  • UK BOE Announces Rates0.5% - in line with expectations. Consensus 0.5%. Previous 0.5%.

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bob_dabolina's picture
  • Obama Says Meeting ‘Narrowed the Issues’ on Budget Impasse (Bloomberg)

    The Link doesn't work. Asks for your Goldman Sachs password.

    EscapeKey's picture

    China Inflation May Hit 6%, No End to Tightening 

    I predict the next official Chinese inflation figure will be 4.9% with a possible drop to 4.8%.

    tomster0126's picture

    Lots and lots of stuff brewing, keep it comin.  How close is the shutdown to actually occurring?  I think it will happen soon.

    Mercury's picture

    Government Shutdown Threatens 800,000 As Obama Seeks Solution

    Like there is any real chance any of these 800,000 will actually miss a paycheck. 

    slow_roast's picture

    The headline makes it sound like the worst thing in the world would be if the government wasn't shoveling fiat at people. 

    Mercury's picture

    Well, as of last night the fiat still works at the liquor store.  The point is, the headline should read: 800,000 To Get Bonus Vacation Days.

    Cdad's picture

    Santelli alert...he's on fire as usual.  E mini traders should start getting concerned about now as only Becky Quick at this point dares to defend the budget madness in DC.

    FIAT_FixItAgainTony's picture

    living in japan or not, this affects us all.  time to monitor all drinking water.  non-radioactive water may be valued higher than anything quite soon i am afraid.

    i thought my coffee tasted funny thing morning!

    thanks for nothing nuclear industry fuktards!

    Monaco's picture

    is there any news today that is not bullish?

    I am Jobe's picture

    Lay off the 800K, and get it over with. While at it, layoff Congress and hang the bastards. Taking way too long to solve the problem and issues. Is this what USA is all about. What a shame.

    X. Kurt OSis's picture

    Initial claims "down" 10,000 to 382 after last week's number is revised upwards to 392 from 388 and other such BLS shennanigans.

    Blah. Wake me when Armegeddon starts.

    Snidley Whipsnae's picture

    Gov shut down results...

    'The IRS would also suspend tax audits, said the administration official.'

    'Government workers would be ordered to turn off their Blackberries while on furlough'

    Good grief! How will the country survive a few days without tax audits and gov employees playing on Blackberries???

    youngman's picture

    A big drop in online porno revenues.....huge problem for the economy pun entended...

    Sutton's picture

    "Japan to head off Hydrogen explosion"


    Buy Cisco

    tomster0126's picture

    My poor Irishmen...they tried hard to avoid another but a forthcoming bailout is again inevitable.  Europe is such a drag, as bad as we are they've really got their brains twisted.