Frontrunning: June 29

• Papandreou Races to Avert Greek Default as Protests Besiege Austerity Vote (Bloomberg)
• Wen Renews Chinese Vow to Buy European Bonds (WSJ)
• Tax standoff blocks progress in debt talks (Reuters)
• Asia looks to ‘friend’ Lagarde to honour IMF pledges (Reuters)
• Trichet Urges New Vision for Europe (Bloomberg)
• Athens tops agenda for Lagarde (FT)
• Senators back Obama over Libya (FT)
• SEC to propose conduct rules for swap dealers (Reuters)
• Deal reached to advance US trade pacts (FT)
• British 'rebalancing' brings pain to the High Street (BBC)
• South Korea to Encourage Fixed-Rate Loans to Control Record Household Debt (Bloomberg)
• Japan tax hike plan stalls as ruling party frets about economy (Reuters)
• Taliban attack kills at least 10 civilians in Kabul (FT)
• Police and Protestors Clash in Cairo (AP)

European Economic indicators:

• Spain Retail Sales  May -5.8% y/y.Previous -2.0% y/y.
• United Kingdom Money Supply - M4  May 0.1% m/m -0.2% y/y.Previous 0.1% m/m 0.9% y/y .
• United Kingdom Mortgage Approvals May 45.9k – in line with expectations.Consensus 46.3k. Previous 45.4k.
• United Kingdom Consumer Credit May 0.2B – lower than expected.Consensus 0.4B. Previous 0.5B.
• Euroland Business Confidence Jun 105.1 – in line with expectations. Consensus 105.0. Previous 105.5.
• Euroland Consumer Confidence Jun -9.8 – higher than expected. Consensus -10.0. Previous -10.0.
• Switzerland KOF Leading Indicator June 2.23 – in line with expectations.Previous 2.30.

Comments

[Duuude]

This in turn would effectively preclude them from selling swaps to customers, because it would be impossible to act in their clients' best interest and simultaneously trade with them for their own financial gain.

BwahHahHahHah

SEC to propose conduct rules for swap dealers

[Zero Govt]

Papandreou Races to Avert Greek Default as Protests Besiege Austerity Vote (Bloomberg) - Papaparasite political family fight to save their skins in the mess they created 

Wen Renews Chinese Vow to Buy European Bonds (WSJ) - Suicide socialists strike again

Tax standoff blocks progress in debt talks (Reuters) - Can the DC parasites resist taking 'more'?

Trichet Urges New Vision for Europe (Bloomberg) - more senile ideaology from the moron that left the ECB bankrupt

Athens tops agenda for Lagarde (FT) - beats her last agenda of a bankrupt French Govt robbing its pensions for a short-term cash flow crunch

Senators back Obama over Libya (FT) - the Oil and Military lobby have a vice-like grip on DC while the people, who have no interest or beef with the Libyan spat get completely ignored... isn't 'democracy' great

SEC to propose conduct rules for swap dealers (Reuters) - pot (pornoholics) calling the kettle black?

Deal reached to advance US trade pacts (FT) - US trade direction has zero to do with the posturing worthless windbags of Washington 

British 'rebalancing' brings pain to the High Street (BBC) - the British Govt has increased taxes (VAT, fuel, cigarette and alcahol duties) during a recession creaming off even more for the destructive wasteful public sector ..is this retailing hit any surprise? ..only to the parasitical morons of Govt

South Korea to Encourage Fixed-Rate Loans to Control Record Household Debt (Bloomberg) - Price controls (ideaology) never work in markets, expect it all to go very pear-shaped in a few years

Japan tax hike plan stalls as ruling party frets about economy (Reuters) - we want "more, more, more" to piss down the toilet

Taliban attack kills at least 10 civilians in Kabul (FT) - you can win a foreign war for a few weeks, then you'll lose the occupation... Taliban 2 - 1 USSR ... Taliban 2 - 1 USA ...the murderous scum of Govt never learn the scores of history

Police and Protestors Clash in Cairo -  the parasites thugs, State Police, try to defend the indefenceable, the imploding 'Empire of the Charlatans'. Good luck with that