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Frontrunning: March 7

Tyler Durden's picture




 
  • China to stimulate imports from the United States (China Daily)
  • Ten thousand apparel retail stores to stay shut on Monday in India today in excise duty protest (Economic Times)
  • More grains limit ups coming: Wheat Planting Falls to Four-Year Low in Russia Amid Export Ban (Bloomberg)
  • SEC Says Market Data Review to Come, But Not Yet (Reuters, h/t SR)
  • Flat-Earth European Central Bank misreads oil spike again, and kicks Spain in the teeth (Telegraph)
  • OPEC ministers talking informally, see no need to meet (Reuters)
  • Grain prices 'will be stable' (China Daily)
  • MSM only a few months behind: MERS? It May Have Swallowed Your Loan (NYT)
  • Barclays Awards Chief Executive Diamond $11 Million Bonus (Bloomberg)
  • Traders ‘short’ dollar as currency loses attraction (FT)
  • LVMH to Take Control of Italy’s Bulgari (NYT)
  • Bonds Show Why Boehner Saying We're Broke Is Figure of Speech (Bloomberg)
  • US fiscal reality ignored by ‘starving the beast’ (FT)
  • Inflation Endangering China `Dream' Spurs Wen Pledge on Prices (Bloomberg)
  • Trichet’s real reasons for a rate rise (FT)
  • The Underappreciated Upside Risk (Barrons)

 

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Mon, 03/07/2011 - 09:49 | 1025744 AN0NYM0US
AN0NYM0US's picture

ZH I think you missed this one

http://www.smh.com.au/lifestyle/people/a-right-royal-scandal-prince-andr...

 

Prince Andrew, the Queen's second son, is friends with a convicted sex offender, was photographed with a teenage prostitute, and has been accused of ties to Muammar Gaddafi's Libyan regime. The Duke of York also hosted the son of the Tunisian dictator Zine El Abidine Ben Ali

Mon, 03/07/2011 - 09:53 | 1025757 cossack55
cossack55's picture

Not news till he has been seen partying with Charlie Sheen or Lindsay Lohan.

Mon, 03/07/2011 - 09:48 | 1025746 Robslob
Robslob's picture

"


SEC says market data review to come, but not yet"

 

That says it all right there....

Mon, 03/07/2011 - 09:56 | 1025764 Sudden Debt
Sudden Debt's picture

inflation will also come officially, but not yet.

Mon, 03/07/2011 - 09:51 | 1025756 eigenvalue
eigenvalue's picture

March and April are the most important period for the winter wheat in China. If China starts to import wheat from abroad in large quantities, the wheat price will triple in a month.

Mon, 03/07/2011 - 09:57 | 1025766 Sudden Debt
Sudden Debt's picture

The real scary part will be june/july when the dry seasons might hit Russia again and cause another shortage of wheat.

+64 million people since last year expect to get their meal to this year.

Mon, 03/07/2011 - 10:06 | 1025790 eigenvalue
eigenvalue's picture

No. In fact China is the biggest wheat producer in the world by producing 114 million tonnes a year. Russia only produces 41 million according to the USDA estimate

http://www.usda.gov/oce/commodity/wasde/latest.pdf

China has been suffering a severe drought since last year. In February, it rained in the main producing areas for 3 times but I don't think that's enough to undo the damage. March and April will the decisive months. 

China is mainly self-sufficient in wheat. But if it starts to import, you will see the wheat price go to the Great Andromeda Nebula

 

Mon, 03/07/2011 - 10:00 | 1025774 Josh Randall
Josh Randall's picture

"..and kicks Spain in the teeth"

I think the Irish situation is going to deteriorate rapidly once the people understand they voted in status quo syndicate types. More volatility across the board, and a kicking in the Teeth for all the PIIGS to teach a lesson or 5...

Mon, 03/07/2011 - 10:08 | 1025796 Johnny Lawrence
Johnny Lawrence's picture

Futures up as sweet crude exceeds 106.50.  Makes perfect sense.

Mon, 03/07/2011 - 10:29 | 1025869 LongSoupLine
LongSoupLine's picture

In 14 minutes (9:00-9:14) on the CRIMEx, crude dropped $1.14

 

Regulators can't be bothered as they count their hush money.

Mon, 03/07/2011 - 10:27 | 1025863 Jim B
Jim B's picture

"China to stimulate imports from the United States"

If and when the dollars collapse is about to become terminal, a statement like this will mean that they are dumping dollars while they still have value!  Lets get what we can for this paper.

Mon, 03/07/2011 - 10:31 | 1025879 Snidley Whipsnae
Snidley Whipsnae's picture

RE: China to import more stuff from US an EU...

"The delegations will buy goods, especially energy-saving and environmentally friendly products, with the aim of balancing trade between China and those regions."

There are a few items that China has neglected to reverse engineer and now they will remedy that...

"Maintaining balanced trade is now an urgent task for China. We will not only organize more trade delegations this year, but also increase efforts to hold more import-themed forums and exhibitions," said Wan.

China has all the US/EU/Japanese paper that they want or need...they prefer real good to pretty paper. 

"China expects to show its willingness to reduce its trade surplus with developed nations through more frequent trade delegations. And the trade contracts could also be of some help to the economic recovery of the US and the EU," said Zhou Shijian, senior trade expert with Tsinghua University.

China wants to use it's pretty paper from the US/EU and Japan to purchase those areas of the world lock, stock and barrel... The trade delegations are to determine what is worth buying...

"In February 2009, a trade delegation led by the minister of commerce flew to European nations - including Germany, Switzerland and Spain - and purchased technologies and goods worth $15 billion. Three months later, China's delegation to the US agreed to spend $16.3 billion on 60 trade contracts."

The EU and US spend more than that in a day... What happens the other 364 days?

"But "the impact (of the trade delegations) on promoting imports may be limited", he [Wan] conceded.

Why not skip all the blather and cut to this last sentence?

Mon, 03/07/2011 - 20:32 | 1028006 lsjcma
lsjcma's picture

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Tue, 03/08/2011 - 14:33 | 1030301 latcho
latcho's picture

Spain civilians rediscovers the Peseta again!
Google translated:
http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout...

Do NOT follow this link or you will be banned from the site!