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%.