Frontrunning: March 31

Tyler Durden's picture
  • Bondholder Haircut From Ireland May Shut Italy, Spain Funding (Bloomberg)
  • Bank of Ireland, Two Smaller Banks Said to Need $12.7 Billion of Capital (Bloomberg)
  • Hoenig Says Fed Shares Blame for Higher Commodity Prices; Urges Tightening (Bloomberg)
  • Gaddafi Foreign Minister Flees to UK (FT)
  • Fed's Stimulus Exit May Not Wait for Global Turmoil to Pass, Bullard Says (Bloomberg)
  • Kuwait's cabinet resigns to avoid questions (Al Jazeera)
  • Cairo Revolution Finds New Target: Free Market (WSJ)
  • Stop The Madness: Make The Dollar As Good As Gold (Forbes)
  • Stark Defends ECB Plan to Lift Rates (FT)
  • Bill Gross Says Treasuries Have Little Value, Echoing Buffett (Bloomberg)
  • Noonan to Propose 'Radical' Bank Sector Restructuring (IT)
  • Geithner Presses on Exchange Disparities (WSJ)
  • U.K. Economy Shows Life But Clouds Linger (WSJ)

European Economic Highlights:

  • Euro-Zone CPI Estimate for March 2.6% y/y - higher than expected.Consensus 2.4% y/y. Previous 2.4% y/y.
  • Germany Unemployment Change for March -55K – lower than expected.Consensus -25K. Previous -54K.
  • Germany Unemployment Rate (s.a) for March 7.2% - higher than expected.Consensus 7.1%. Previous 7.3%.
  • France Producer Prices for February 0.8% m/m 6.3% y/y – higher than expected.Consensus 0.8% m/m 6.2% y/y. Previous 0.9% m/m 5.6% y/y.
  • Norway Credit Indicator Growth for February 5.9% - lower than expected.Consensus 6.2%. Previous 6.1%.
  • Norway Retail sales - vol sa for February 0.7% m/m 2.7% y/y – higher than expected.Consensus 0.5% m/m 1.3% y/y. Previous 0.1% m/m 0.4% y/y.
  • UK GfK Consumer Confidence Survey for March -28 – higher than expected.Consensus -30. Previous -28.
  • UK Hometrack Housing Survey for March -0.1% m/m -3.2% y/y – higher than expected. Previous -0.2% m/m -2.7% y/y.
  • UK Nat'wide House prices sa for March 0.5% m/m 0.1% y/y – higher than expected. Consensus 0.0% m/m -0.6% y/y. Previous 0.3% m/m -0.1% y/y.


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GOSPLAN HERO's picture

Is Obama on vacation or launching another war?

eigenvalue's picture

How about a war with China? The US can renege on all its bonds held by the Chinese

Jim in MN's picture

Another leap in rad readings off Fukushima:

Jiji Press

Radioiodine 4,385 Times Limit Found in Seawater near N-Plant

   Tokyo, March 31 (Jiji Press)--Radioactive iodine 4,385 times the legal limit has been detected in seawater near the troubled Fukushima No. 1 nuclear power plant, the industry ministry's Nuclear and Industrial Safety Agency said Thursday.
   Some 180 becquerels of iodine-131 per cubic centimeter were found in a seawater sample collected on Wednesday afternoon 330 meters off the discharge outlet of the No. 1 to 4 reactors of the plant in Fukushima Prefecture, northeastern Japan, the agency said.
   The reading was higher than 3,355 times the limit of the radioactive material found at the same spot Tuesday.
   According to Tokyo Electric Power Co. <9501> officials, the plant's operator, radioactive materials produced in reactor vessels or spent fuel rod pools because of damage to fuel rods are likely to have newly flown into the waters near the plant.
   While no release of radioactive materials from the discharge outlet has been confirmed, the company has yet to find out how radioiodine reached the sampling point, the officials said.

Careless Whisper's picture

As the situation at Japan's Fukushima Daiichi nuclear powerplant slowly winds down, the salient facts remain the same as they have been throughout: nobody has suffered or will suffer any radiological health consequences.

Fukushima fearmongers are stealing our Jetsons future


Careless Whisper's picture

The information will be released to Fox Business at 10 a.m. Thursday.

Fed to Release Financial-Crisis Loan Info Thursday
Snidley Whipsnae's picture

From Forbes article on gold. This is what some want to do. Pay fucking attention!!! With this system we would still be stuck with the Fed running open market operations to control the price of gold/PMs. We would still be stuck with fractional reserve banking. This sucks!!!

"Under a Dollar Bill system, the monetary base consists of fiat dollars (both currency and bank reserves) created by the Federal Reserve.  The Fed is not allowed to set interest rates, and it is relieved of responsibility for promoting full employment.  Instead, the Fed is tasked with employing its Open Market operations to adjust the size of the monetary base so as to keep the COMEX price of gold as close as operationally practical to a target gold price. Fractional reserve banking is allowed."

GoinFawr's picture

Indeud. Forbes' 'Dollah bill y'all' is the ultimate way to maintain the status quo; prestidigitation with the word 'gold' in it. Oh, BTW, can you say 'confiscation'? Heh, if the US does it will soon be followed by the words 'mass exodus'.


csmith's picture

Oh...sorry...thought this post (entitled "Frontrunning) was the story on Sokol. Nevermind.