Frontrunning: November 15

• G-20, APEC Yield Little to Fix Imbalances, Stem Inflow Concerns (Bloomberg)
• Ireland Talks With EU as Germany Pushes It to Take Bailout (Bloomberg)
• Europe stumbles blindly towards its 1931 moment (Telegraph)
• Portugal Faces Investor Scrutiny (WSJ)
• Greece Expects Budget Pressure From EU, IMF (WSJ)
• Lacker Says Fed's New Easing Push Too Risky (Reuters)
• Banks escaping big foreclosure class actions, because borrowers cannot demonstrate economic harm, according to plaintiff lawyers (Reuters)
• Who Will Stand Up to the Superrich? (NYT)
  
• Dollar boosted by higher Treasury yields (Reuters)
  
• China to Exceed U.S. by 2020, Standard Chartered Says (BusinessWeek)
• Japan’s economy grows as stimulus spurs spending (FT)
• Greenspan: High Deficits Could Spark Bond Crisis (ABC)
• The Fed vs. Brazil's Reformers (WSJ)
• China Vows Reforms to Cope with Global Uncertainty (Reuters)
• Inside the Inflation Debate: QE2 and Negative Real Yields in TIPS  (PIMCO)

Economic Highlights

• Euro-Zone Trade Balance sa for September 2.4B - higher than expected. Consensus 1.0B. Previous -1.7B. 
• Euro-Zone Trade Balance for September 2.9B - higher than expected. Consensus 0.1B. Previous -5.0B.    
• France Current Account (EURO) for September -4.4B. Previous -4.0B.    
• Italy Trade Balance (Total; Euros) for September -3187M. Previous -2967M.     
• Italy Trade Balance (Euros) for September -440M. Previous -829M.      
• Norway Trade Balance (Krone) for October 23.4B. Previous 22.7B.
• Switzerland Producer & Import Prices for October -0.4% m/m 0.3% y/y - lower than expected. Consensus 0.0% m/m 0.7% y/y. Previous -0.1% m/m 0.3% y/y.
• UK Rightmove House Prices -3.2% m/m 1.3% y/y. Previous 3.1% m/m 2.9% y/y.     

Comments

[kathy.chamberli...]

morning tyler @ EST†

no picture on TeeVee either

[wagefreedom]

From the 3rd article:

“This is a breath-taking mixture of suicidal irresponsibility and farcical incoherence,” said Marco Annunziata from Unicredit. ...well said Marco

[Oh regional Indian]

This is Rich. Really rich.

Frank Rich writes in the NYT, in the NYT(!) about who will stand up to the super-rich?

I see a cosmic joke here. A Rich one at that.

ORI

http://aadivaahan.wordpress.com

[RobD]

Did you see Greenspan on Meet the Press yesterday? He was asked it there was going to be another crash. He said No. They did not ask him if he saw the last crash coming. The guy looks like he will be taking the dirt nap soon.

[plocequ1]

See? Its all good.  Nothing to worry about, The Lords win again. POMO today, Irish accept bailout.. Its all good. Now wheres that damn POMO Chart?

[unum mountaineer]

uh, whats the sit rep for the "i" in piigs?

[Djirk]

Ireland and Italy

For the record, the consumer balance sheets of Italy are no where near as bad as Ireland, Spain and the US. Actually pretty good. So if and when there is austerity it will not be the double de-leveraging that other economies shoudl face.

[Djirk]

Pssst don't tell Uncle Ben that higher yields are actually putting real private capital into the US. He doesn't like the competition.

My balance sheet is bigger than yours

[apberusdisvet]

Re the Reuters article on foreclosure class action suits:

The attorneys should file instead for  the American property taxpayer and the County courthouses throughout the land (but especially in FL,AZ,NV) for all the due transfer fees, taxes that MERS was established to fraudulently escape the payment thereof.

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