Frontrunning: October 15

• Jobless claims "drop" as prior numbers get upwardly revised as always to maintain the downward trend (AP)
• The fixed income and hedge fund monopolist known as Goldman Sachs beats by "less than expected," sets aside less than a trillion for bonuses (Reuters and NY Times)
• European nations opt for dollar issues (FT, h/t Paul)
• This is Jamie's land, this is your land (Reuters)
• PIMCO is the latest on the anti-MBS bandwagon (Bloomberg)
• New rivals pose threat to NYSE (NYT)
• Building the labor force with forced labor (Delta Global)
• Rumormania hits J Sainsbury (MarketWatch)
• CIT said to be in talks to amend $29 billion debt swap (Bloomberg)
• Bear fund managers lied repeatedly to clients, prosecutor says (Bloomberg)
• Steven Golub named Lazard interimn CEO after Wasserstein death (Bloomberg)
• Housing crisis worse on the high end (Atlantic)
• Citi "profitable" after slowing rate of loss reserve building (Bloomberg)
• Gasparino: Wall Street's bonus hypocrisy (Daily Beast)

Comments

[Careless Whisper]

"New Rivals Pose Threat To NYSE" (NYT) Nothing new in there, except for "Outtakes" the name of a new coffee shop at the exchange.

Someone (hint) should write an op-ed piece for the Times.

[McGriffen]

Gasparino is speaking truth in spades...the good times roll again thanks to subsidies and that sneaky FDIC debt guaranty.  gotta love that business model

[deadhead]

speaking of the FDIC TLGP, has Goldman Sachs said anything about the 20 plus billion they have out?

Mr. Blankfein, you are a hypocrite for stating that you wish you had not borrowed 22 billion (your number), yet you have not paid off the debt.

Also, the N.Prins number shows it at 29 billion, but I can't confirm that number.

Please put your money where  your mouth is.  Thank you.

[McGriffen]

GS' $20+ billion is a drop compared to Citi "don't sleep on me" $80+ billion.

Fortunately, if it can be said, these were moderately termed out no longer than 3 years (if I recall the program correctly).  IE...at best it's not 10-yr funding.

[Riley Wilde]

Jobless claims "drop" as prior numbers get upwardly revised as always to maintain the downward trend

Anyone know where one can find the "as reported" data series and the "as revised" data series?  It would be interesting to see these plotted.

[bruce wayne]

Interesting divergence between Philly and New York surveys...

[Hephasteus]

That Mathew Goldstein reuters piece is  a great article. Too bad if they take 1/2 a billion out in bonuses that slows the loan loss reserve building.

[Anonymous]

hi.

Hope you don't mind me posting a link. I wondered how the German gov could raise yields with a stronger euro? Wouldnt the euro have to be weaker or devalued to gold, say?

I read the same about the Yen, that they would have to raise savings rates whilst having a weaker yen?

How does this work and what is the catch?

Thanks

Artful.

[Anonymous]

Here's a somber post:

http://www.bloomberg.com/apps/news?pid=20601109&sid=a_A5nqmw9Dq8

[Artful_Dodger]

hi.

Hope you don't mind me posting a link. I wondered how the German gov could raise yields with a stronger euro? Wouldnt the euro have to be weaker or devalued to gold, say?

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100001361/th...

I read the same about the Yen, that they would have to raise savings rates whilst having a weaker yen?

How does this work and what is the catch?

Thanks

Artful.

ps. Argh...posted twice, apologies.

[Anonymous]

Who said the German gov is going to raise interest?that was the article writer opinion,and some research study that(IF they don't raise,then such and such would happen). Unless Merkel wants to kill the Euro quickly,I don't believe they can do that. And in fact it seems that if she dosn't start printing pretty soon,that will happen eventually anyway.Just look at the Austaralian Dollar after they raised rates(beside them being commodity exporters)....