Frontrunning: November 30

• Spanish Banks Face Funding Hurdle Amid Bailout Threat (Bloomberg)
• U.S. Senators Press for Vote on China Currency Bill (Reuters)
• CFTC to unveil position limit plan Dec 16 (Reuters)
• Democrats to Test Republican Mettle With Tax-Cut Vote (Bloomberg)
• Irish Banks Remain on a Tightrope (FT)
• North Korea Details Nuclear Program Amid Tension (Reuters)
• European Companies With $700 Billion Set to Make Deals (Bloomberg)
• China Surges Ahead on Clean Energy Investment (FT)
• EU growth funds lie idle under red tape (FT)
• Roubini Says Portugal Likely to Need Bailout (Reuters)
• Funding for CFPB may not be sufficient, Bullard says (Housing Wire)
• Is the Great Bond Bull Market finally coming to an end? (Market Watch)
• Economists' Grail: A Post-Crash Model (WSJ)

Economic Highlights:

• Euro-Zone CPI Estimate for November 1.9% y/y – in line with expectations. Consensus 1.9%. Previous 1.9%.      
• Euro-Zone Unemployment Rate for October 10.1% – in line with expectations. Consensus 10.1%. Previous 10.0%.   
• Germany Unemployment Change for November -9k - lower than expected. Consensus -20k. Previous -3k.     
• Germany Unemployment Rate (s.a) for November 7.5% – in line with expectations. Consensus 7.5%. Previous 7.5%. 
• France Producer Prices for October 0.8% m/m 4.3% y/y - higher than expected. Consensus 0.4% m/m 4.1% y/y. Previous 0.3% m/m 4.2% y/y. 
• Italy CPI (NIC incl. tobacco) for November 0.0% m/m 1.7% y/y - lower than expected. Consensus 0.1% m/m 1.8% y/y. Previous 0.2% m/m 1.7% y/y.  
• Italy CPI - EU Harmonized for November -0.1% m/m 1.8% y/y - lower than expected. Consensus 0.1% m/m 2.0% y/y. Previous 0.7% m/m 2.0% y/y.     
• Italy Unemployment Rate (SA) for October 8.6% - higher than expected. Consensus 8.4%. Previous 8.3%.  
• Norway Credit Indicator Growth for October 5.4% y/y - higher than expected. Consensus 5.0% y/y. Previous 5.1% y/y.    
• Norway Retail sales - vol sa for October 0.1% m/m -0.5% y/y - lower than expected. Consensus 0.2% m/m 2.4% y/y. Previous 1.3% m/m 3.0% y/y.   
• Switzerland UBS Consumption Indicator for October 1.716. Previous 1.695.      
• Sweden Wages - Non-Manual Workers for September 1.5%. Previous 1.3%.  
• UK GfK Consumer Confidence Survey for November -21 - lower than expected. Consensus -19. Previous -19.

Comments

[velobabe]

Plan to release info related to US bank next yr: WikiLeaks
41 minutes ago
PTI Whistle-blower website WikiLeaks plans to release hundreds of thousands of internal documents related to a major American bank early next year, ... this seems to me potentially fabulous news. NO?

[Silverhog]

Looking forward to CFTC position limits pertaining to silver. Any improvement will be welcome. Of course if the Comex craps out it's a whole new game.   

[Miles Kendig]

Finding a post crisis model?  What a bunch of circle jerking fools!  Attempting to reduce the whole of human interaction to some mathematical equations from which a typical dynamic stochastic general equilibrium model is drawn IS the foundation of presumption.  And every soldier knows that presumption is the mother of all fuck ups.  (Like believing all information flows are symmetric forming THE basis for rational expectations and perfect pricing - ROFLMAO)  By attempting to reduce human interaction thusly removes the whole concept of spontaneous & dynamic alchemy which IS the foundation of all human endeavor of any quality.   And these "leaders" of intellectual endeavor wonder why the whole of the system is constipated beyond all ability to function and the only alchemy being generated is via artificial insemination.  WOW!

Again the current mainstream, elevated at a time when a vehicle was needed to sell endless fiat supported "growth" (ever increased debt rather than asset accumulation) is stuck on the concept that any idea worth its salt must first be "proven" using the very premise of presumption masquerading as fact encompasses the epic failure of this lunacy.  (No small wonder these folks love fantasy over reality in nearly all things - misguided 2D lovin' LDS sufferers)  In this it looks like the engineers at the Haliburton labs that designed & tested their cement for deep wells went to the same schools where they studied the same processes.  No small wonder then that the same results have been achieved.  EPIC FAILURE!

[spekulatn]

Good interview w/ David Gerstenhaber of Argonaut Capital Management

http://pragcap.com/deep-thoughts-david-gerstenhaber