Frontrunning: March 3

Tyler Durden's picture
  • Why the Dollar's Reign Is Near an End (WSJ)
  • Take a bow Hatzius: John Taylor takes apart Goldman's economic "achemists and quacks" (Bloomberg) - This is what happens when you sellout to the propaganda machine
  • William Cohan joins the tinfoil hat brigade - A Conspiracy With a Silver Lining (NYT)
  • Gaddafi strikes oil areas, Arabs weigh peace plan (Reuters)
  • No criminal charges ever: Officials Disagree on Penalties for Mortgage Mess (NYT)
  • Bernanke Sees 200,000 Hit to Jobs from Budget Cuts (Reuters)
  • It's Taps For the Still Weakening Dollar (RCM)
  • Asia Moves to Shore Up Strategic Oil Reserves (FT)
  • Beijing home sales slump in February (China Daily)
  • ECB Set to Deliver Inflation Warning (WSJ)
  • Obama "outraged" by attack in Germany (Reuters)
  • Europe Must Plan a Reform, Not a Pact (FT)
  • Merkel names ally as new defence minister (FT)
  • Congress Approves Temporary Budget Bill, Avoids Shutdown (BusinessWeek)
  • Gross Says Treasury Yields Too Low as Fed Approaches End of Asset Buying (Bloomberg)
  • Mukherjee Signals Higher Oil May Spur India Subsidy, Risk Deficit-Cut Plan (Bloomberg)

European economic highlights:

  • Euro-Zone PMI Composite for February 58.2 - lower than expected. Consensus 58.4. Previous 58.4.
  • Euro-Zone PMI Services for February 56.8 - lower than expected. Consensus 57.2. Previous 57.2.
  • Euro-Zone GDP for Q4 0.3% q/q 2.0% y/y – in line with expectations. Consensus 0.3% q/q 2.0% y/y. Previous 0.3% q/q 2.0% y/y.
  • Euro-Zone Retail Sales for January 0.4% m/m 0.7% y/y - higher than expected. Consensus 0.3% m/m 0.0% y/y. Previous -0.6% m/m -0.9% y/y.
  • Germany Retail Sales for January 1.4% m/m 2.6% y/y - higher than expected. Consensus 0.5% m/m 1.7% y/y. Previous -0.3% m/m -1.3% y/y.
  • Germany PMI Services for February 58.6 - lower than expected. Consensus 59.5. Previous 59.5.
  • France PMI Services for February 59.7 - lower than expected. Consensus 60.8. Previous 60.8.
  • Italy PMI Services for February 53.1 - higher than expected. Consensus 51.1. Previous 49.9.
  • Italy PPI for January 1.1% m/m 5.2% y/y - higher than expected. Consensus 0.9% m/m 4.6% y/y. Previous 0.6% m/m 4.6% y/y.
  • UK PMI Services 52.6 - lower than expected. Consensus 53.7. Previous 54.5.
  • ECB Announces Interest Rates. Consensus 1.00%. Previous 1.00%.