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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%.
 


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Thu, 12/16/2010 - 10:04 | Link to Comment Spalding_Smailes
Spalding_Smailes's picture

Tyler,

Can you frontrun gold getting blowtorched on a 5 minute chart ....?

But Blythe will get the blame, or crymex, eu, profit taking because of tax ect.... Not the smoke pouring off a 2011/ 3.5 GDP outlook/print.

Thu, 12/16/2010 - 10:04 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Hehe..at this rate, every 1/2% in GDP will cause prices to double. Hmmmm

Thu, 12/16/2010 - 10:08 | Link to Comment ReeferMac
ReeferMac's picture

Well that's it, we're officiall fucked.

Sarah Palin is the only chance we have at being saved, and the bankers will get the Fed to absolve them of the Mortgage mess. Someone get my guns. I'll be out back digging my bunker if anyone needs me.

Thu, 12/16/2010 - 10:31 | Link to Comment Careless Whisper
Careless Whisper's picture

Gov Jobs Go To The Politically Connected; Qualifications Irrelevant

http://www.boston.com/news/politics/articles/2010/12/16/probation_inquir...

 

Thu, 12/16/2010 - 12:07 | Link to Comment Art Vandelay
Art Vandelay's picture

In another startling expose, water found to be wet.

Thu, 12/16/2010 - 10:34 | Link to Comment jdoo
jdoo's picture

That reuters article was excellent, thanks for posting.

Thu, 12/16/2010 - 11:12 | Link to Comment Jim B
Jim B's picture

+1 Surprisingly on the the mark!

    I have been bitching about this for years, and the masters of the universe never saw this coming...

          In fact they still don't see it!  

Thu, 12/16/2010 - 10:34 | Link to Comment Careless Whisper
Careless Whisper's picture

Jay-Z Does A Strategic Default; Gives NYC Hotel Site Back To Bank

http://www.nypost.com/p/news/business/jay_hotel_put_to_bed_mWkCAxTHwNkwL...

 

Thu, 12/16/2010 - 10:36 | Link to Comment MeTarzanUjane
MeTarzanUjane's picture

*: Mr. Durden retains sole power to bind Zero Hedge. No other person shall have actual or apparent authority to bind Zero Hedge to any contract. For any questions regarding this policy, or any other policy, contact legal [at] zerohedge [dot] com.

How can a fictitious character be bound to any contractual obligation? Moreover; if "Everyone is Tyler" how can everyone be bound without explicit individual consent?

Can a singleton member of the Borg be charged for the collective actions of the Borg?

Is this an April fools joke or are you trying to dumbfuck me?

Thu, 12/16/2010 - 10:42 | Link to Comment Careless Whisper
Careless Whisper's picture

Lloyd B Gets $111 Million Bonus Windfall

How does Goldman make their money? Anyone?

http://dealbook.nytimes.com/2010/12/15/goldman-sachs-111-million-windfall/

Thu, 12/16/2010 - 11:26 | Link to Comment KickIce
KickIce's picture

"Is America the sick man of the globe?"

The only difference between us and Greece is a printing press.

Thu, 12/16/2010 - 12:58 | Link to Comment velobabe
velobabe's picture

District attorney seeks to bar Vail victim's testimony in plea hearing

http://velonews.competitor.com/2010/12/news/district-attorney-seeks-to-b...

While Erzinger was originally charged with a felony and two misdemeanors, Eagle County District Attorney Mark Hurlbert controversially forwarded a plea agreement that would result in the dropping of the felony charge in exchange for guilty pleas to the misdemeanors, noting that “felony convictions have some pretty serious job implications for someone in Mr. Erzinger’s profession.”

Thu, 12/16/2010 - 13:33 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

interesting, I ride and run in this area a lot, know that pizza hut well, town of Avon at 70 it looks like, erzinger is a lying a-hole

Thu, 12/16/2010 - 14:02 | Link to Comment velobabe
velobabe's picture

man, thank you     ;-)

Thu, 12/16/2010 - 14:02 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

Reuters is either ignorant or just plain disingenuous:

"At the other end of the spectrum, deregulation and a laissez-faire attitude toward financial institutions culminated in the housing "boom" that former Ohio Attorney General Richard Cordray (who failed to win reelection in November) has aptly described as a "Roman orgy" of debt."

The article seems to want to point to the banks as the culprit when it was the banks and the US Congress, Clinton, Bush, ACORN and the Dept. of Urban Development . The banks were hammered and cajoled into lowering their qualification standards for consumer mortgages, against their will in most cases. All you need to do is Google; "Community Reinvestment Act". The orgy of debt has one big, two-headed, "Jabba the Hut" sitting in the middle of it, the US Federal Government. The banks responded by dicing up the sketchy loans and the good loans and making into the illiquid, poison, sausage we know as CDSs.

I must also point out that mortgage brokers acted all on their own in standardizing on these hokey "black-box" web apps to fudge people into loans they couldn't afford.

Lastly, let's not forget the unholy relationship that the home appraisers had with the lenders that drove up prices at an insane rate. Reuters can only be trusted so far with a big story like this...

Thu, 12/16/2010 - 15:58 | Link to Comment Miles Kendig
Miles Kendig's picture

ROFLMAO!

Appraisers work for the banks.  As does HUD, the fed, Treasury, Congress, originators who merely answered calls from banks for ever more paper and the courts that foster lawful plunder (along with an army of millions in the legal arenas).  Who has survived, those dumb fuck lemmings at ACORN or the hard core predators at the banks?

The common thread is the banks and the parasites that live in symbiosis with the banks.  Which one are you, the predator or the parasite?

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