Frontrunning: February 10

Tyler Durden's picture
  • Mervyn King (the UK's Chairsatan) Faces Ticking Clock on Interest-Rate Increase as U.K. Inflation Soars (Bloomberg)
  • Bernanke (our own Chairsatan) Warns Against Steep Budget Cuts (Reuters)
  • Bernanke Makes Sure Fed Reminds Congress Deficit Bigger Than QE2 (Bloomberg)
  • China Developers Move Beyond Shanghai, Beijing, Defy Curbs (Bloomberg)
  • Was Weber Sacrificed for the Euro? (WSJ)
  • Wall Street Justice Means Nobody Gets Pinched: Jonathan Weil (Bloomberg)
  • Weber's Withdrawal Opens Up ECB Race as Debt Crisis Persists (Bloomberg)
  • Credit Suisse Cuts Profitability Goal as Net Misses Estimates (Bloomberg)
  • Now that Ron Paul actually has some power over the Fed, what is he going to do with it? (Slate)
  • Asia Moves Up a Gear in Fighting Inflation (Reuters)
  • Egyptian Party Pulls Out of Talks After Threat of Army Role (Bloomberg)
  • Egypt's government resists mounting pressure for change (Reuters)
  • Democrat Chris Lee Quits, Citing `Mistakes' After Link to Craigslist Ad (Bloomberg, Gawker)
  • Strikers Try to Raise Pressure on Mubarak (FT)
  • North Korea Says `No Need' for More Talks With South (Bloomberg)
  • Deutsche Borse and NYSE Euronext in Talks to Create TransAtlantic Powerhouse (Telegraph)
  • Japan's Budget Impasse Means Early Election Risk Looms for Kan (Bloomberg)
  • Bernanke's Worst Nightmare Is This Man's Boxes (Bloomberg)

Europe Economic Highlights:

  • France Industrial Production for December 0.3% m/m 7.0% y/y - higher than expected. Consensus -0.3% m/m 5.7% y/y. Previous 2.3% m/m 6.0% y/y.
  • France Manufacturing Production for December -0.1% m/m 6.6% y/y - higher than expected. Consensus -0.2% m/m 6.0% y/y. Previous 2.2% m/m 5.1% y/y.
  • Switzerland SECO Consumer Confidence for January 10 - in line with expectations. Consensus 10. Previous 7.
  • Switzerland CPI for January -0.4% m/m 0.3% y/y - lower than expected Consensus -0.2% m/m 0.6% y/y Previous 0.0% m/m 0.5% y/y
  • Sweden Industrial Prod. s.a. for December -2.1% m/m - lower than expected. Consensus 0.6% m/m. Previous 1.2% m/m.
  • Sweden Industrial Prod. n.s.a. for December 10.0% y/y - lower than expected. Consensus 12.5% y/y. Previous 12.3% y/y.
  • Sweden Industrial Orders s.a. for December 0.8% m/m. Previous -1.3% m/m.
  • Sweden Industrial Orders n.s.a. for December 17.7% y/y.Previous 15.8% y/y.
  • Norway CPI for January -0.5% m/m 2.0% y/y - lower than expected. Consensus -0.2% m/m 2.4% y/y. Previous 1.1% m/m 2.8% y/y.
  • Norway CPI Underlying for January -0.9% m/m 0.7% y/y - lower than expected. Consensus -0.5% m/m 1.1% y/y.Previous 0.2% m/m 1.0% y/y.
  • Norway Producer Prices incl.Oil for January 2.5% m/m 22.2% y/y.Previous 4.6% m/m 23.9% y/y.
  • Italy Industrial Production sa for December 0.3% m/m - higher than expected. Consensus 0.2% m/m. Previous 1.3% m/m.
  • Italy Industrial Production nsa for December 8.7% y/y. Previous 4.1%.
  • Italy Industrial Production wda for December 5.4% y/y - lower than expected. Consensus 4.5% y/y. Previous 4.1% y/y.
  • UK Industrial Production 0.5% m/m 3.6% y/y - lower than expected. Consensus 0.5% m/m 3.7% y/y. Previous 0.6% m/m 3.2% y/y.
  • UK Manufacturing Production -0.1% m/m 4.4% y/y - lower than expected. Consensus 0.4% m/m 5.4% y/y. Previous 0.6% m/m 5.1% y/y.
  • BOE Announces Rates 0.5% – in line with expectations.Consensus 0.5%. Previous 0.5%.
  • BOE Asset Purchase Target 200B – in line with expectations. Consensus 200B. Previous 200B.
  • UK NIESR GDP Estimate.Previous 0.5%.


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mickey's picture

hmm the article about chris lee cites he's a republican. not that it matters but why get that wrong?

curbyourrisk's picture

Every article I have read about Chris Lee states he is a republican.  Maybe because he IS a republican.

sangell's picture

Your're right which is, of course, why he is resigning. If a Democrat there would be no need to. Perversion, adultery or even child molestation are not considered impediments to holding office for the Democrats.

Urban Roman's picture

The republicans don't want him any more.

That makes him an environmentalist, among other epithets.

sangell's picture

Jimmy Swaggart, back in his heydey, used to denounce his enemies as 'the stained son (or spawn) of Satan'.

If Bernanke is Satan then shouldn't Mervyn King be a spawn or son of Satan rather than another Satan operating independantly of the Satan in Chief?

Snidley Whipsnae's picture

Bernanke is again talking out of both sides of his mouth. Not long ago he advised the US Gov that they needed to cut the budget and show some 'fiscal responsibility'... Now Ben is saying...

"The cost to the recovery would outweigh the benefits in terms of fiscal discipline," Bernanke told the House of Representatives' Budget Committee. "I think we really need to take a long-term view."

After this dung heap collapses Ben will be able to point out that he recommended both courses... fiscal responsibility and no fiscal responsibility.

snowball777's picture

  • Bernanke (our own Chairsatan) Warns Against Steep Budget Cuts (Reuters)
  • Bernanke Makes Sure Fed Reminds Congress Deficit Bigger Than QE2 (Bloomberg)
Cognitive dissonance in action.

Marley's picture

Ron is the fall guy for the next era.  When $683 trillion goes up in smoke, only bad things can happen.  Hope it was good for you.

Urban Roman's picture

BTFD (at noon) -- doesn't matter what.

Sell @ 3:55.

Miles Kendig's picture

Jonathan Weil ROCKS !!