Frontrunning: February 3

Tyler Durden's picture
  • Violence Escalates After Gunfire Assault (WSJ)
  • Yemenis Protest After Saleh Makes Concessions to Defuse Tension (Bloomberg)
  • Here come subsidies: China allocates $228m for vegetable supply (China Economic Net)
  • ECB Seeks to Shed ‘Uncomfortable’ Bond-Buying Duty (Bloomberg), because if it's a third party CDO monster, then it is nobody's fault really
  • And minutes after our own headline... Oil Climbs on Egypt as Stocks Decline; Copper Hits $10,000 (Bloomberg)
  • Senate Rejects Repeal of Health Care Law (NYT)
  • Egypt Millionaires `Sacrificed' as Leadership Turns to Military (Bloomberg)
  • S&P Says No Plans to Cut U.S. Rating in Medium Term (Reuters) and nobody has any plans to listen to S&P ever again
  • White House Charts a New Plan (WSJ)
  • Enough Is Enough On Raising The Federal Debt Limit (Forbes)
  • What causes higher prices & inflation? (Fundmastery)
  • Cyclone Yasi Hits Australian Coast (FT)
  • IMF Warns On Asian Economies (WSJ)
  • Trichet Fights to Curb Pay Pressures as Inflation Accelerates (Bloomberg)

European economic highlights:

  • Euro-Zone PMI Composite for January 57.0–higher than expected.Consensus 56.3. Previous 56.3. 
  • Euro-Zone PMI Services for January 55.9 –higher than expected.Consensus 55.2. Previous 55.2.
  • Euro-Zone Retail Sales for December -0.6% m/m-0.9% y/y – lower than expected.Consensus 0.5% m/m 0.2% y/y. Previous -0.8% m/m 0.1% y/y.
  • Germany PMI Services for January 60.3–higher than expected.Consensus 60.0. Previous 60.0.
  • France PMI Services for January 57.8–higher than expected.Consensus 57.1. Previous 57.1.
  • Italy PMI Services for January 49.9–lower than expected.Consensus 50.5. Previous 50.2. 
  • Switzerland Trade Balance for December 1.28B. Previous 1.93B.
  • Switzerland Exports real SA for December 4.2% m/m. Previous -3.4% m/m. 
  • Switzerland Imports real SA for December -4.1% m/m. Previous -3.3% m/m.               
  • UK PMI Services 54.5– higher than expected.Consensus 51.3. Previous 49.7.
  • UK Official Reserves (Changes) $-384M. Previous $976M.