Frontrunning: July 23

• More "fantastic beats" out of Europe: UK GDP for Q2 1.1% q/q 1.6% y/y –
  higher than expected, Germany IFO - Expectations for July 105.5 – 
  higher than expected; flip Risk On switch after bankrupt Cajas rumored to fall off clownmobile
• Jean Claude Trichet: Stimulate no more – it is now time for all to tighten (FT) - funny, because even as Europe tightens fiscally, it lets rip monetarily
• Bernanke offers no silver bullets, which means depressed yields and P/Es amid more dreary, deflation (Barrons)
• For those who care about the circus happening in Europe today, here is Reuters on Europe's "banking credibility" (Reuters)
• Bank Stress Test Success Hinges on Data, Not Failure Count (Bloomberg)
• Several Spanish savings banks fail stress test-El Pais (Reuters)
• Swiss aim to steal EU stress test thunder (FT)
• Beijing Considers Plan To Move Its Currency Further From Dollar (WSJ)
• North Korea threatens "physical response" to U.S. moves (Reuters)
• Japan Says Yen Climb May Hurt Economy, Increasing Policy-Intervention Risk (Bloomberg)
• Australian mining tax is far from settled (SMH)
• Hungary's Leader Brushes Off IMF (WSJ)
• Bernanke Says Tax-Cut Extension Aids Economy Needing Stimulus (BusinessWeek)
• Mortgage Securities It Holds Pose Sticky Problem for Fed (NYT)
• A bearish predisposition: Advisers are not betting on rally (MarketWatch)
• Experts: Health Hazards in Gulf Warrant Evacuations (Truthout)

Comments

[doublethink]

It's Make or Break Time

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7905322/...

[A Man without Q...]

Stress tests for Fannie and Freddie? Not a chance...

http://www.ft.com/cms/s/0/a913144c-95c1-11df-b5ad-00144feab49a.html

[snowball777]

Would the information about Tier 1 ratios and sovereign holdings be enough to do a real stress test (e.g. assume Greece goes tits up)? Or is there still too much room for hiding skeletons outside of what these banks are required to parade before the masses?

[snowball777]

P.S. Hey, Lil Kim Jong Il, you betta check yoself befoh you wreck yoself.

Who do you think the central planners need more Kim, NK, or the favored trading partner to which they are economically attached at the hip?

[CPL]

Jazz Hands!!!

[wang]

from the above article "Experts: Health Hazards in Gulf Warrant Evacuations"

this link

http://www.youtube.com/watch?v=1FxfYqnlQ50

Obviously this guy is not being paid by BP

BP accused of 'buying academic silence'

http://www.bbc.co.uk/news/world-us-canada-10731408

[ATTILA THE WIMP]

Jean-Claude Trichet is a Bilderberger

http://www.nndb.com/people/706/000167205/

[Steak]

ZHers!  A playlist for your friday (electronic musiq): http://www.youtube.com/view_play_list?p=5E7FB2A12195500D

[Ruth]

Have to give ya stars for beats Steakerz!

[Ruth]

More Health, Bitchez!  http://www.wsws.org/articles/2010/jul2010/gulf-j22.shtml