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Frontrunning: February 8
- China Raises Key Interest Rates to Counter Inflation (Bloomberg)
- Egypt approves 15-percent pay raise for government employees (Xinhua) which supposedly are 70% of all employees
- Citigroup Settles Fraud Cases Tied to Texas Mortgage Assigner (Bloomberg)
- Rival Koreas meet for talks as tensions ease (Reuters)
- Misquoting Keynes (Hussman)
- Osborne raises bank levy to £2.5bn (FT)
- Rich Get Richer as Governments Tout Austerity (Bloomberg)
- Sara Lee profit misses, blames higher commodity costs, but company backs '11 outlook (Reuters)
- Cash Buyers Lift Housing (WSJ)
- Regulators seek to foil moves to undermine pay reform (Reuters)
- ECB Will Act Strongly Against Second-Round Effects, Mersch Says (Bloomberg)
- Report Urges G-20 Overhaul (WSJ)
- Protesters call for push to eject Mubarak (FT)
- Brussels stands by wider EFSF scope (FT)
- Get Ready for Rising Rates, Falling Bonds (Barrons)
European Economic Highlights:
- UK RICS House Price Balance -31.0% - higher than expected.Consensus -38.0%. Previous -39.0%.
- Switzerland Unemployment Rate for January 3.8% - in line with expectations.Consensus 3.8%. Previous 3.8%.
- Switzerland Unemployment Rate (sa) for January 3.5% - in line with expectations.Consensus 3.5%. Previous 3.5%.
- Bank of France Bus. Sentiment for January 110 - higher than expected.Consensus 108. Previous 107.
- France Central Govt. Balance (Euros) for December -148.8B.Previous -140.7B.
- France Trade Balance (Euros) for December -5.1B - lower than expected.Consensus -4.2B. Previous -4.1B.
- Germany Industrial Prod. (nsa wda) for December 10.0% - lower than expected.Consensus 11.5%. Previous 11.1%.
- Germany Industrial Prod. (sa) for December -1.5% m/m - lower than expected.Consensus 0.2% m/m Previous -0.6% m/m.
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Dont forget to pick up some psdv today at 5.10 collar it if you sleep better at night. Or simply throw a call spread and skip.the stock buying. Clean out the remainder of your savings and go all in. If your wife gets concerned tell her not to worry. An anonymous internet troll said it was a good trade.
Gold just grew a boner.
no one cares....less volume.. less volume...less bread..more money.. less freedom.more stupid people...wash repeat.
Ya gotta love the WSJ for their sheer gusto in pumping the propaganda.
'Animal spirits'?!
These wrinkly clowns just can't make decent yields and aren't hip enough to understand that housing is nowhere near a bottom and won't be for years.
must read WSJ article above: Cash Buyers Lift Housing (WSJ)
economic disneyland, bitchez!
key highlights:
"Mr. Stoker and his wife, Jane, cashed out of some financial investments and sold a Roy Lichtenstein painting and an Alexander Calder mobile."...
..."Mr. Stoker doesn't plan to rent out any of his new properties, saying he and his wife will live in one with two dogs, his son might live in another and the third will house an older dog and guests."...
..."A few days later, Ms. Hall-Busch, 62, got a call about a 1918 bungalow with three bedrooms and one bathroom listed for "short sale," which in the real-estate world means at a price lower than what's owed on it. The home had been on the market for $159,000, then dropped to $129,000 and then to $79,900.
"I offered them 50," she said. "I figured, it wasn't like I needed a place to live. I can afford to be a little cocky here."
Ms. Hall-Busch closed in October for $52,500 and began renovations within weeks."...
If this dude is even real what a fucking tool! The IRS will send the asshole a little thank you note to send the difference dont; think the banks will take a hit.
What a load of shit
Hard assets dispropportionately being transferred to the kind of people who say things like "I figured, it wasn't like I needed a place to live. I can afford to be a little cocky here."
Bottom 3/4ths, prepare your anuses.
Front running. The scumbag art of blowing out stops in low liquid markets.