Frontrunning: December 10

• Brown, Sarkozy Op-Ed: Global finance, global regulation (WSJ)
• Citi TARP talks uncertain says Treasury official (Reuters)
• France said to consider following U.K. bank bonus tax (Bloomberg)
• Dems to lift debt ceiling by $1.8 trillion, fear 2010 backlash (Politico)
• Sovereign credits get less than royal treatment (Barron's)
• Wells Fargo cuts as much as 30% in principal from Pick-a-Pay OptionArms (Bloomberg)
• Is the Fed engaged in qualitative or quantitative easing? (EContrarian via RCM)
• Why do rich, fat men get all the girls (Atlantic)
• PIMCO selling US MBS, buying Dubai, Qatar distressed bonds (Bloomberg)
• Aluminum leads base metals higher (FT)
• Final Thomson CDS auction results announced (MarkIt)
• Dubai shares jump as Emaar calls off merger plans (Bloomberg)
• China imposes duties on US, Russian steel imports (Bloomberg)
• Wall Street banks lose to congressmen among Americans furious over pay (Bloomberg)
• RBS investors will be diluted with preferred stock conversion (Bloomberg)

Comments

[Ivanovich]

Risk orgy set to continue for yet another day.  Gold looks like a fantastic buy.

[gatopeich]

Is this the place to post the fresh initial claims number?

Briefly: +17000 versus -2000 'consensus' estimate.

So long for the good employment expectations?

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

          SEASONALLY ADJUSTED DATA

In the week ending Dec. 5, the advance figure for seasonally adjusted initial claims was 474,000, an increase of 17,000 from the previous week's unrevised figure of 457,000. The 4-week moving average was 473,750, a decrease of 7,750 from the previous week's revised average of 481,500.

... http://www.dol.gov/opa/media/press/eta/ui/current.htm

[Careless Whisper]

Umm, ya think the story China imposes duties on US, Russian steel imports is a little more important than Why do rich, fat men get all the girls ?

[alexdg]

Another step on the path towards freezing global trade? Didn't the US import less this month?

[Anonymous]

Dems to lift debt ceiling by $1.8 trillion, fear 2010 backlash (Politico)

Pressure your local Bluedog!

http://www.house.gov/melancon/BlueDogs/

[Mad Max]

1.8 Trillion Dollars!!!! Are you f'ing kidding me?!?!?!?!  Dr. Evil wouldn't ask for that much money to ransom the earth!

This is totally insane.  And don't miss this gem:

Already in the Senate, there is growing pressure in both parties for the creation of a novel bipartisan task force empowered to force expedited votes in the next Congress on deficit reduction steps now shunned by lawmakers.

Yes, in the next Congress.  (If there is one, after this crime.)  Kick the can.  How many loud beeping warning signs of hyperinflation do we need?

[Harbourcity]

So this Congress is going to force the next Congress to do what this Congress should be doing?

That pretty much sums up all politicians.  BEEP BEEP BEEP

[Anonymous]

PIMCO buying Abu Dhabi not Dubai......

[Anonymous]

New trouble brewing in Austria.

http://www.iii.co.uk/news/?type=afxnews&articleid=7666719&action=article