Frontrunning: September 28

• Anglo Irish Cost May Exceed 35 Billion Euros, S&P Says (Bloomberg)
• Ireland, Portugal Stir European Fears (WSJ)
• Mundell Says U.S. Action on Yuan Rate Would Be a 'Disaster' (Bloomberg)
• Ambrose Evans-Pritchard: Shut Down the Fed, Part II (Telegraph)
• Is the Fed Mulling 'Qualitative' Easing? (Barrons)
• Have no fear - the next leg up in US GDP and the stock market comes in June 2011: Apple May Unveil Next iPad by June 2011, Goldman Says (Bloomberg), in other news, Apple fanatics may delay purchase by a few weeks to get next, next iPad
• China, Japan Take New Jabs at Each Other (WSJ)
• Medvedev Fires Moscow Mayor, icon Yuri Luzhkov (WSJ)
• Kan Asks to Meet Wen in Belgium to Repair Strained China Ties (Bloomberg) Kyodo denies
• Kudlow: TARP II: Banks and Business Don't Want It (RCM)
• FDIC Delays on 'Next Lehman' Issue (WSJ)
• Stock Buybacks Are for Dummies Except Right Now: David Pauly (Bloomberg)
• Germany supports EU Commission on imbalances (FAZ, via EuroIntelligence h/t Paul)
• IMF Says BOE Should Buy Assets If Recovery Falters; Sees 2% Growth in 2011 (Bloomberg), in other words more central bank intervention
• ECB Demands Firm Action on Reform (FT)
• The New American Normal - Hoarding (NYT)
• Ireland Seeks Ways To Stem Rising Debt (FT)
• More magic from Krugman: and poof, like that, unemployment is gone (NYT)
• Roubini Sees High Risk of a U.S. Recession, Says Japan `Anemic' (Bloomberg)

Economic Data:

• France Consumer Spending for August -1.6% m/m 1.2% y/y - lower than expected. Consensus -0.2% m/m 0.9% y/y. Previous -1.5% m/m -1.9% y/y.
• Italy Consumer Confidence Ind. sa for September 107.2 - higher than expected. Consensus 104.0. Previous 104.1.
• Italy Hourly Wages for August 0.0% m/m 2.2% y/y – in line with expectations. Consensus 2.2% y/y. Previous 0.1% m/m 2.4% y/y.
• Switzerland UBS Consumption Indicator for August 1.954 - higher than expected. Previous 1.860.
• Sweden Retail Sales s.a. for August 0.0% m/m 4.4% y/y - higher than expected. Consensus 0.5% m/m 4.0% y/y. Previous 0.5% m/m 2.0% y/y.
• UK GDP for Q2 1.2% q/q 1.7% y/y – in line with expectations. Consensus 1.2% q/q 1.7% y/y. Previous 1.2% q/q 1.7% y/y.
• UK Current Account (BP) for Q2 -7.4B - less than expected. Consensus -8.2B. Previous -9.6B.
• UK Total Business Investment for Q2 0.7% q/q 1.9% y/y - higher than expected. Consensus -1.6% q/q 1.9%. y/y. Previous -1.6% q/q 1.9% y/y.
• UK CBI Reported Sales for September 49 - higher than expected. Consensus 25.0. Previous 35.0.

Comments

[99er]

Say That Again?

U.S. Action on Yuan Rate Would Be a 'Disaster'

http://99ercharts.blogspot.com/2010/09/dx_28.html

[Cincitucky]

Running out of fresh insults for Apple fiends.

This bombardment of constant, rarely changing, new products is going to make me say Uncle.

Qualitative easing?  Its only going to bring lower quality with every attempt of easing.  Is common sense no longer a desirable trait of employees/workers anymore?

[unum mountaineer]

absolutely not. furthermore the conversations of how much you as an employee sucks will intensify until it is demonstrated that you don't think. You just do as you are told...lol. your employer does it. so does your government through manipulation. hammer time!!

[Treason Season]

 
Japan warns China over patrol boats

Tue, 28 Sep 2010 03:53:13 GMT Font size :
Japan has spotted two Chinese patrol boats in waters near the Senkaku Islands in the East China Sea and is demanding that the Chinese vessels leave the area immediately.

Six Coast Guard patrol boats have been dispatched to the area to ensure that the Chinese ships do not trespass on Japan's waters, Japanese Chief Cabinet Secretary Yoshito Sengoku was quoted as saying by Japan Broadcasting Corporation (NHK) on Monday.

He added that Japan has warned China against taking such an action through diplomatic channels. http://previous.presstv.ir/detail.aspx?id=144285&sectionid=351020406

[The Rock]

"Have no fear - the next leg up in US GDP and the stock market comes in June 2011: Apple May Unveil Next iPad by June 2011"

LOL. SAD BUT TRUE BS.

[insidious]

Qualitative Easing - Is there no end to the Fed's mucking around (a rhetorical question I know)? Yet another implementation of the Bernokio Put. Risk on. Stocks, commodities and precious metals up. Dollar down. Savings rates (an oxymoron?) down/non-existent. Still no reason to hire. All good - we now return you to your regularly scheduled program.

[Dollar Bill Hiccup]

Circus for the masses.

[99er]

News You Can (Really) Use

http://blogs.reuters.com/deep-pocket/2010/09/27/how-to-invest-for-fallin...

[hugolp]

More magic from Krugman: and poof, like that, unemployment is gone

LOL.

I read Krugman article and the guy is a profesional lier.

[daniel]

i love zerohedge policy cheap hosting