Frontrunning: August 26

• NYSE Confirms Price Reporting Delays That Contributed to the Flash Crash (ai5000)
• Ireland's `Vicious Circle' Leaves Banks Facing Higher Debt Cost (Bloomberg)
• Hungary’s Communication Faux Pas Dashes Hopes for IMF Deal (WSJ)
• Glencore Said to Value Gold Unit at More Than $5 Billion in IPO (Bloomberg)
• Ozawa to challenge Kan for PM position (FT)
• Capital Investment Slowdown in U.S. Signals Reluctance to Hire (Bloomberg)
• Japan May Have Supplementary Budget to Fund Stimulus Plan, Nikkei Reports (Bloomberg)
• Kim Jong-il makes surprise China visit (Reuters)
• Sarkozy Outlines G-20 Priorities (WSJ)
• Bad economic news sets up market for a 'fix'  (Post)
• Jackson Hole more goat rodeo than Bretton Woods (MarketWatch)
• Focus sharpens on Fed chairman  (FT)
• CBO: The Cover-Up Budget Office (RCM)
• Head-and-Shoulders Portends Double-Dip (Barrons)
• They Go or Obama Goes (Nation)

Global economic data

• Australia Conference Board Leading Index for June 0.10% Previous 0.30%
• Australia Private Capital Expenditure for Q2 -4.00% - lower than expected. Consensus 2.3% q/q. Previous -0.20% q/q.
• Japan Buying Foreign Bonds for August 20th¥1040.8B. Previous ¥2177.7B
• Japan Buying Foreign Stocks August 20th¥32.0B. Previous ¥8.0B
• Foreign Buying Japan Stocks August 20th-¥39.1B. Previous -¥40.3B
• Foreign Buying Japan Bonds August 20th-¥129.5B. Previous ¥219.1B
• Germany GfK Consumer Confidence Survey for September 4.1 higher than expected. Consensus 4.0 Previous 3.9 (Revised from 4.0)
• Italy Consumer Confidence Ind. sa for August 104.1 lower than expected. Consensus 105.3 Previous 105.6 (Revised from 105.5)
• Switzerland Employment Level for Q2 3.968m lower than expected. Consensus 3.975m Previous 3.961m
• Switzerland Employment Level for Q2 0.6% lower than expected. Consensus 0.8% Previous 0.1%
• Sweden Trade Balance (Kronor) for July 10.3B higher than expected. Consensus 6.5B Previous 11.4B (Revised from 9.7B)
• Sweden PPI for July 0.1% m/m 1.0% y/y lower than expected. Consensus 0.3% m/m 1.2% y/y. Previous 1.3% m/m 1.6% y/y.
• Sweden Unemployment Rate for July 8.0% - higher than expected. Consensus 7.9% Previous 9.5%
• Sweden Household Lending for July 8.8% Previous 8.9%
• UK CBI Reported Sales for August 35 higher than expected. Consensus 18 Previous 33

Comments

[russki standart]

Move over Greeks, it is Irelands turn to riot.

[JohnKing]

Fuck the NYSE, we need an Alabama Stock Exchange, no robots allowed!

[The Franchise]

Is that Maria Ozawa?

[Chartist]

Yen/USD down, risk on, Yen/USD up, risk off.....the rest is just polite conversation.

[Hall 9000]

 European Bond Spreads

 8/25/2010 - CalculatedRisk 

The 10-year Ireland-to-German bond spread has risen to 344 bps, up from 318 bps yesterday. This spread is larger than during the financial crisis in May when the spread peaked at 306 bps.

The 10-year Greece-to-German bond spread is now 926 bps, just below the peak level of 963 bps in May.

[TheJudge2012]

Anybody see the price spike to 122.95 on a graph for GLD this morning? I have to go into my Ameritrade account to see it on the advanced graph, but occasionally it pops up on the yahoo graph and disappears, although it is listed as the high. Today is an options expiration for GLD.

[JohnnyR2121]

http://www.kansascityfed.org/publicat/research/indicatorsdata/mfg/pdf/2010Aug26mfg.pdf

More bad economic data from the Fed. The only question now is now much weaker Q3 will be than Q2. (Or how far below 0).

[Herry12]

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