Frontrunning: December 16

Tyler Durden's picture
  • Must read - Reuters special report: Is America the sick man of the globe? (Reuters)
  • Banks Push Fed to Curb Borrowers' Right to Rescind Mortgages (Bloomberg)
  • EU Struggles for Unity Ahead of Debt Crisis Summit (Reuters)
  • Spain Pays High Yield to Sell Bonds (WSJ)
  • Investors' Doubts Buffet Spain (WSJ)
  • If we keep taxes low on America's high earners, the terrorists win (WaPo)
  • Mort Zuckerman: Only business can put Obama back on top (FT)
  • Korea Shows Fastest Slowdown in OECD (Korea Times)
  • New York, London Exchanges Seek Moscow Tie-Up, Micex Chief Says (Bloomberg)
  • UK court backs decision to bail WikiLeaks' Assange (Reuters)
  • Tax Deal Steams Closer to Approval (WSJ)
  • Foreign Purchases of U.S. Securities Slow in October (Wells)
  • The Way to Cut Taxes and Deficits (The American)
  • Wide economic slack to keep Fed on buying track (Reuters)

Economic Highlights:

  • France PMI Manufacturing for December 56.3. Previous 57.9.
  • France PMI Services for December 54.1. Previous 55.0.
  • Spain Labour Costs for 3Q -0.3%. Previous 1.2%.
  • Switzerland Industrial Production for 3Q 1.8% q/q 5.8% y/y - higher than expected. Consensus 0.9% q/q 5.0% y/y. Previous 5.7% q/q 7.8% y/y.
  • Germany PMI Manufacturing for December 60.9 - higher than expected. Consensus 58.2. Previous 58.1.
  • Germany PMI Services for December 58.3. Consensus 59.0. Previous 59.2.
  • Sweden Unemployment Rate for November 7.1%. Consensus 7.3%. Previous 7.5%.
  • SNB 3-Month Libor Target Rate 0.25%. Consensus 0.25%. Previous 0.25%.
  • UK Retail Sales Ex Auto Fuel 0.3% m/m 1.8% y/y - higher than expected. Consensus 0.3% m/m 1.4% y/y. Previous 0.3% m/m 1.2% y/y.
  • EC Euro-Zone CPI for November 0.1% m/m 1.9% y/y – in line with expectations. Consensus 0.1% m/m 1.9% y/y. Previous 0.4% m/m 1.9% y/y.
  • Ireland GDP for 3Q 0.5%. Previous -1.2%.