Frontrunning: September 21
- Vacations now over, Greek labor union schedules next all day strike for October 7 - set your $0.01 stub quotes accordingly
- ECB Steps Up Its Bond Buys Amid Worries (WSJ)
- ECB Sterilizes €61.5 Billion in sovereign bond purchases, purchases €323 million of bonds last week (Market News)
- Which of course leads to... Ireland Sells 1.5 Billion Euros in Debt as Borrowing Costs Rise (Bloomberg)
- And to...Greek Sovereign Default Would Be a `Tragedy,' Papandreou Says (Bloomberg)
- Former Officials Oppose US Renminbi Bill (FT)
- Putting your money to work just 2 days a month: To make a lot of money in the stock market this year, all you had to do was invest on just the first two days of every month. And get the hell out of the market every other day (NY Post)
- Obama Says China's Growth is 'Good for US' (China Daily)
- Chris Whalen: Double dip or global deflation? (Reuters)
- From former Bernanke collaborator Vince Reinhardt: Getting Lehman Profoundly Wrong, The bankruptcy of Lehman Brothers is widely misunderstood: We have inverted a morality tale about individual recklessness to become one about collective culpability through inaction. (The American)
- Dollar 3m LIBOR/OIS Spread Narrows To Touch 10 bps (Market News)
- China and Japan spat mars youth expo visit (FT)
- Obama Says China Hasn't Followed Through on Yuan (Bloomberg)
- Japan Says China Boat Row Shouldn't Fan `Extreme' Nationalism (Bloomberg)
- Fed Under Pressure to Avoid Creating Confusion Over Potential for Easing (Bloomberg)
- U.S. Loses No. 1 to Brazil-China-India Market in Global Poll on Investing (Bloomberg)
- Switzerland Trade Balance for August 0.57B. Previous 2.84B.
- Switzerland Exports real SA for August -1.4% m/m. Previous 2.6% m/m.
- Switzerland Imports real SA for August 9.1% m/m. Previous -3.4% m/m.
- Switzerland Money Supply M3 for August 6.6% y/y. Previous 6.5% y/y.
- UK Public Finances (PSNCR) for August 5.8B - lower than expected.Consensus 8.1B. Previous -3.7B.
- UK Public Sector Net Borrowing for August 15.3B - higher than expected.Consensus 12.5B. Previous 2.0B.
Today's US Econ Calendar (Consensus/Previous):
8:30 US Housing Starts for August 550K 546K
8:30 US Housing Starts for August 0.7% m/m 1.7% m/m
8:30 US Building Permits for August 560K 565K
8:30 US Building Permits for August 0.2% m/m -3.1% m/m
14:15 US FOMC Rate Decision 0.25% 0.25%
17:00 ABC Consumer Confidence -43
7:00 Canada Consumer Price Index for August 0.0% m/m 1.9% y/y 0.5% m/m 1.8% y/y
7:00 Canada CPI Core for August 0.2% m/m 1.7% y/y -0.1% m/m 1.6% y/y