Frontrunning: September 27
- Last week's key story, conveniently buried late on Friday: "Three Wholesale Credit Unions Nationalized As US Securitizes $50 Billion In Legacy Toxic Assets; Failure "Sweep Under The Rug" Friday Just Got Real" - (Zero Hedge)
- From media shy to publicity whore, book-talker extraordinaire, David Tepper is now everywhere (New York Mag Profile)
- China Imposes a Steep Tariff on U.S. Poultry (NYT)
- Gold is the final refuge against universal currency debasement (Ambrose Evans-Pritchard)
- Japan Looks At $55bn Stimulus Package (FT)
- Fed Relative Value Model for Treasuries Showing Diminishing Market Returns (Bloomberg)
- Wolfgang Munchau on why the European Rescue Facility (EFSF) is one
bid CDO, and would collapse immediately if France is downgraded (FT)
- Eurozone banks face test as loans expire (FT)
- Interview: Marc Faber on the Federal Reserve and Hyperinflation (Seeking Alpha)
- Banks Keep Failing, No End in Sight (WSJ)
- John Hussman - Not Yet Out of the Woods (Hussman Funds)
- Treasury Said to Ready Plan to Sell AIG Stake, Recoup Taxpayer Investment (Bloomberg)
- Yen Likely to Hurt Company Sentiment in Japan's Tankan (Bloomberg)
- Risking a Trade War With China (RCM)
- China's Charm Blitz in `Shambles' Over Regional Spats (BusinessWeek)
- Record Ruble Bond Sales Stoke Deutsche Bank, HSBC Hiring: Russia Credit (Bloomberg)
- Euro-Zone M3 s.a. 3 month avg. for August 0.5% - higher than expected. Consensus 0.2%. Previous 0.1%.
- Euro-Zone M3 s.a. for August 1.1% - higher than expected.Consensus 0.3% y/y. Previous 0.2% y/y.
- Sweden Household Lending for August 8.8% y/y.Previous 8.8% y/y.
- Sweden Trade Balance (Kronor) for August -2.8B - lower than expected.Consensus 5.0B. Previous 10.3B.
- UK Hometrack Housing Survey for September -0.4% m/m 1%y/y.Previous -0.3% m/m 1.5% y/y.
- Japan Corp Service Price Index -1.1% y/y - higher than expected.Consensus -1.2% y/y. Previous -1.1% y/y.
- Japan Merchandising Trade Balance Total¥103.2B – lower than expected.Consensus ¥200.0B. Previous ¥802.0B.
- Japan Adjusted Merchandising Trade Balance ¥589.7B – higher than expected.Consensus ¥522.1B. Previous ¥594.8B.
- Japan Merchandising Trade Exports 15.8 y/y – lower than expected.Consensus 19 y/y. Previous 23.5 y/y.
- Japan Merchandising Trade Imports 17.9 y/y – higher than expected. Consensus 17.5 y/y. Previous 23.5 y/y.