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Frontrunning: November 18

Tyler Durden's picture




 
  • Fed Orders 2nd Round of Stress Tests  (WSJ), translation: more capital raises for Bank of America, Wells Fargo and Citi.
  • Lenihan Says Ireland May Ask for Bank Package as Bailout Nears (Bloomberg)
  • One in 20 Irish Mortgages in Arrears (FT)
  • China Vows to Tame Inflation (Reuters)
  • Korea to Revive Tax on Foreigners' Bond Holdings to Slow Capital Inflows (Bloomberg)
  • IMF Says HK Currency Peg Boosting Property Prices (FT)
  • India Microcredit Faces Collapse From Defaults (NYT)
  • Vilsack: Food Costs Won't Surge  (WSJ)
  • Failed Models and the Real Costs of QE2 (Economics21)
  • California Shrinks Planned Tax-Exempt Sale, Expands Taxable (Bond Buyer)
  • OECD Reduces Global Growth Outlook, Predicts Soft Spot in 2011 (Bloomberg)
  • OECD backs much-criticized Fed easing steps (Reuters)
  • Wolin: No Meaningful US Impact from Euro Zone Crisis (Reuters)
  • Bank of America and the middle-man hedge (Housing Wire)
  • QE2 could drive Asia 30% higher (City Wire)
  • Ally CEO of mortgage operations says foreclosure flaws "unacceptable" (Housing Wire)
  • GM IPO Increase: How They Turned It All Around (Steve Rattner)
  • CDS spreads can be volatile and prone to false positives (FT)
  • Sticking it to the unemployed (LA Times)

Economic Highlights:

  • Euro-Zone Current Account nsa for September -9.2B. Previous -10.6B.   
  • ECB Euro-Zone Current Account SA for September -13.1B. Previous -6.9B.
  • Switzerland Trade Balance for October 2.10B - higher than expected. Consensus 1.40B. Previous 1.68B.  
  • Switzerland Exports real SA for October 6.2% m/m. Previous -3.1% m/m. 
  • Switzerland Imports real SA for October 1.9% m/m. Previous -4.0% m/m. 
  • Switzerland Credit Suisse ZEW Survey (Expectations) for November -30.9. Previous -27.5.
  • Sweden Unemployment Rate for October 7.5% - lower than expected. Consensus 7.6%. Previous 7.8%.
  • UK Retail Sales Ex Auto Fuel forOctober 0.3% m/m 1.2% y/y - in line with expectations. Consensus 0.2% m/m 1.5% y/y. Previous -0.3% m/m 1.3% y/y.     
  • UK Retail Sales w/Auto Fuel for October 0.5% m/m -0.1% y/y - in line with expectations. Consensus 0.4% m/m 0.0% y/y. Previous -0.5% m/m 0.0% y/y.     
  • UK Public Finances (PSNCR) for October 2.4B - lower than expected. Consensus 6.0B. Previous 20.7B.    
  • UK Public Sector Net Borrowing for October 9.8B - higher than expected. Consensus 8.9B. Previous 14.4B.UK PSNB ex
  • Interventions for October 10.3B - higher than expected. Consensus 9.6B. Previous 15.0B.     UK CBI Trends Total
  • Ordersfor November -15 - higher than expected. Consensus -24. Previous -28.  
 

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Thu, 11/18/2010 - 09:24 | 737340 bobert
bobert's picture

Is it time to short GM yet?

Thu, 11/18/2010 - 09:41 | 737384 HelluvaEngineer
HelluvaEngineer's picture

Patience, grasshopper.  The hunting bear rests until next Wed.

Thu, 11/18/2010 - 09:37 | 737375 Hansel
Hansel's picture

I am not looking forward to the media touting more stress tests. Same shit, different day.

My latest video: Rules for Peasants by Utopia Government Films Co.

Thu, 11/18/2010 - 11:27 | 737661 The Rock
The Rock's picture

I'm not looking forward to another bullshit stress test either. Death by a thousand (QE) cuts.

Thu, 11/18/2010 - 12:00 | 737775 snowball777
snowball777's picture

C'mon...you've got to enjoy the hilarity of the Big 5 trying to raise cap in equity markets while they're in the news for committing the largest fraud in American history.

Thu, 11/18/2010 - 09:44 | 737393 bigdumbnugly
bigdumbnugly's picture

Lenihan Says Ireland May Ask for Bank Package as Bailout Nears

 

ireland had better ask for ample amounts of KY before taking on that bank "package."

Thu, 11/18/2010 - 10:28 | 737489 f16hoser
f16hoser's picture

I invite Vilsack to go grocery shopping with me........

Thu, 11/18/2010 - 10:29 | 737492 greenewave
greenewave's picture

To find out more about the Imminent Collapse of the Global Economy, watch this video "Wall Street Thieves, Bailouts Galore, Broken America" at (http://www.youtube.com/watch?v=I93dzfs8WIc).

by Anonymous

The United States economy is rotten at the core and has been stolen from the American people by the Wall Street Thieves that drove the Titanic into the iceberg in the first place!!

Thu, 11/18/2010 - 10:30 | 737496 tom
tom's picture

But Ireland's deficit is fully funded till the middle of next year! Why in seven months I'm sure everyone will be begging to buy Irish bonds!

And by the time the costs of bailing out its banks are fully paid for, Ireland's debt to GDP should still be less than 500%!

What are you guys all so worried about?

Thu, 11/18/2010 - 12:01 | 737778 snowball777
snowball777's picture

Portugal and Italy.

Thu, 11/18/2010 - 12:28 | 737863 -273
-273's picture
New analysis pegs 2006 as highpoint of conventional crude production

crude oil production "never regains its all-time peak of 70 million barrels per day reached in 2006," said IEA’s World Energy Outlook 2010.

In previous years, the IEA had predicted that crude oil production would continue to rise for at least another couple of decades.

http://news.nationalgeographic.com/news/energy/2010/11/101109-peak-oil-i...

 

That should be great for GM too eh.

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