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Frontrunning: November 19

Submitted by Tyler Durden on 11/19/2010 09:31 -0400

Cowen Scorned as Irish Mourn Loss of Sovereignty With Bailout (Bloomberg)
Irish Bailout May Unleash Vigilantes on Portugal (Bloomberg)
Spain and Portugal rule out rescue packages (FT)... until they rule them in
Hong Kong Said to Plan New Property Curbs; Stocks Decline (Bloomberg)
Andy Kessler: What's Really Behind Bernanke's Easing? (WSJ)
In Shanghai, prices fly high (Reuters)
Heat Stays on California $10 Billion Note Offering (WSJ)
Special report on SAC's "information arbitrage" strategies (Reuters)
Pimco Said to Seek $1 Billion to Buy Troubled Assets From Banks (Bloomberg)
Korea government backs bond tax on foreigners (JAD)
Chinese activist sentenced for Twitter post (Reuters)
Once Routine, Tax Breaks Pose Test (WSJ)
Ireland Crisis May Give China Break It Seeks: Simon Johnson (Bloomberg)
Korea wants ‘limited’ talks on U.S. FTA changes (JAD)
Francois Mouté: QE2 to cause another gold boom (Citywire)
Emerging markets capital flows – how are the BRIC countries faring and coping? (Deutsche Bank)
The Texas Fix Is Unlikely for Ireland (NYT)
Bernanke bashers - Once on the fringe, critics of the Federal Reserve such as Ron Paul are suddenly mainstream (LA Times)

Economic data:

Germany Producer Prices for October 0.4% m/m 4.3% y/y - higher than expected. Consensus 0.3% m/m 4.1 % y/y. Previous 0.3% m/m 3.9% y/y
Italy Industrial Orders s.a. for September -1.2% m/m 17.9% y/y - higher than expected. Consensus -2.0% m/m 17.0% y/y. Previous 6.8% m/m 32.8% y/y.
Italy Industrial Sales s.a. for September -0.3% m/m 10.8% y/y. Previous 2.6% m/m 13.8% y/y.

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Fri, 11/19/2010 - 09:38 | 740712 snowball777

Fuck your cherry-picking fund, Bill.

Fri, 11/19/2010 - 09:46 | 740721 MeTarzanUjane

I like this concept;

Certificates of Participation (COPs). I think I will start issuing some certificates of participation for property and inventory taxes.

http://www.sunshinestatenews.com/story/florida-supreme-court-ruling-us-s...

You can issue them also;
http://www.freeprintablecertificates.net/category/participation

Fri, 11/19/2010 - 09:45 | 740722 kornholio

somebody post the kessler article from the WSJ please

Fri, 11/19/2010 - 09:49 | 740725 LongSoupLine

Translation on title of PIMCO article:

"PIMCO steps up ponzi involvement. Billions from Fed and Treasury coming to shift bad load off bank balance sheets."

Fri, 11/19/2010 - 09:52 | 740728 Salinger

tip

grab the headline and paste into google search box

"What's Really Behind Bernanke's Easing?"

then click on the wsj link and the full article should appear

Fri, 11/19/2010 - 10:00 | 740743 Eternal Student

Here's some other key news which just came out. Housing prices are going down again in California. First Y-O-Y decrease in 12 months:

http://www.dqnews.com/Articles/2010/News/California/RRCA101118.aspx

"The median price paid for a home last month was $256,000, down 3.4 percent from $265,000 in September, and down 0.4 percent from $257,000 for October a year ago. The year-over-year decrease was the first in 12 months. The bottom of the current cycle was $221,000 in April 2009, while the peak was at $484,000 in early 2007."

If you'll recall the Case-Shiller numbers, San Francisco has done the best in the nation, and LA has been right up there as well. It looks like the Bernake bucks, which propped things up last year, are disintegrating.

Fri, 11/19/2010 - 10:01 | 740744 99er