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Frontrunning: September 9
- Norway Buys Greek Debt as Sovereign Wealth Fund Sees No Default (Bloomberg), and in two years those responsible for the decision will be sued for criminal negligence; In other news ECB funding to Greek banks stays within €0.3 billion of all time high at €95.9 billion. Perhaps Norway meant buying ECB bonds?
- Funniest self-serving statement of the year: Greece Says Bonds Now an 'Opportunity' as Budget Deficit Falls (Bloomberg)... as opposed to yesterday when they were a catastrophic investment. Also not mentioned was the austerity is really working as Greek industrial production plunges far below expectations
- And guess what - more QE coming to a broke Europe near you: BOE Mulls ‘Second Wave’ of Bond Buying as Rebound Ebbs (Bloomberg)
- Base metals overnight flash crash in China (Reuters)
- OECD Says Slowdown `More Pronounced' Than Anticipated (Bloomberg)
- European Crisis Flares Up in Ireland (WSJ)
- A recent uptick in insider buying is normally considered a positive for the stock market, but it may be misleading for investors (Reuters)
- Japan Plans to Seek Discussions With China on Bond Purchases (Bloomberg)
- Economists cut U.S. growth forecast again (Reuters), yet corporate earnings mysteriously stay flat to very flat
- UK watchdog fines Goldman Sachs $27 million (Reuters)
- Mr. Bubble Bounces Back: Greg Lippmann Leaves Joke T-Shirts, Daily Sushi and the Glorious Bust Behind Him (NY Observer)
- NYT Editorial: Debating the Economy (NYT)
- Searching for Yield: At Any Cost? (Merk Investments)
- Senate, House eye action on China currency (Reuters)
- Drunken, Rowdy Bond Market Is About to Be Ill: Mark Gilbert (Bloomberg)
- Speculation swirls as Rahm Emanuel mulls mayoral run (Reuters)
Economic data:
- Germany Consumer Price Index for August 0.00% m/m 1.0%y/y – in line with expectations.Consensus 0.00% m/m 1.0%y/y. Previous 0.00% m/m 1.00% y/y.
- Germany CPI - EU Harmonised for August 0.01% m/m 1.0%y/y –higher than expected. Consensus 0.00% m/m 0.90% y/y. Previous 0.00% m/m 0.90% y/y.
- France Non-Farm Payrolls for Q2 0.20% - in line with expectations. Consensus 0.20%. Previous 0.20%.
- Sweden CPI Level for August 302.06–lower than expected. Consensus 302.36. Previous 302.04.
- Sweden CPI - Headline Rate for August 0.0% m/m 0.9% y/y –lower than expected. Consensus 0.1% m/m 1.0% y/y. Previous -0.3% m/m 1.10% y/y.
- Sweden CPI - CPIF for August 0.0% m/m 1.4% y/y –lower than expected. Consensus 0.0% m/m 1.5% y/y. Previous -0.3% m/m 1.7% y/y.
- UK Visible Trade Balance GBP/Mn for July -£8667 – lower than expected. Consensus -£7500. Previous -£7532.
- UK Trade Balance Non EU GBP/Mn for July -£4800 – lower than expected. Consensus -£4300. Previous -£4313.
- Australia Employment Change 30.9K – higher than expected. Consensus 25K. Previous 23.5K.
- Australia Unemployment Change 5.10% - lower than expected.Consensus 5.20%. Previous 5.30%.
- Australia Full Time Employment Change 53.1K.Previous -4.2K.
- Australia Part Time Employment Change -22.1K.Previous 27.7K.
- Australia Participation Rate 65.40% - lower than expected.Consensus 65.5%. Previous 65.5%.
- Japan BOJ September Monthly Report
- Japan BSI Large All Industry 7.1 q/q. Previous 4 q/q.
- Japan BSI All Industry 13.3 q/q.Previous 10 q/q.
- Japan Buying Foreign Bonds¥731.7B.Previous ¥70.8B.
- Japan Buying Foreign Stocks¥215.3B.Previous ¥141.0B.
· Foreign Buying Japan Bonds¥100.5B.Previous ¥77.4B.
· Foreign Buying Japan Stocks¥40.1B.Previous -¥150.0B.
· Japan Tokyo Average Office Vacancies 9.17%.Previous 9.10%.
»
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Re: Zinc
Zinc LME stock has been maxed out for months.
http://www.kitcometals.com/charts/zinc_historical_large.html#lmestocks_6...
Norway.....well, unfortunately no surprise there!
We izzz gonna bee rich tankz too Greez.
by LMAO
on Sun, 08/15/2010 - 16:59
#522359
http://e24.no/makro-og-politikk/article3768548.ece
And of course Mr. Slyngstad is on behalf of the Norwegian taxpayer increasing overall exposure in the most risky bonds which currently are available on the market. Anything related to the screaming PIGS must be "Gold" in the pursuit of higher Yields according to Mr. Slyngstad.
"And how high is the probability Mr. Slyngstad that Spain and Greece actually will repay these debts in which you now so willingly are increasing your stake?"
Mr. Slyngstad: " I don't give a fuck! The sheeple don't know what's going on, the politicians are clueless and it's an excellent vehicle to generate all kinds of Bonuses to all my friends and financial cronies involved. It's not like I'm using my own money to begin with. It's not like I ever will be held accountable. I'm just digging blindly and hope to stumble across a gold mine. I'll be a hero if I do.....If I don't? WTF do I care! I'll be well and settled by that time"
Yes, Norway will be pissing it all away, courtesy of the likes of Slyngstad.
LMAO
Funniest self-serving statement of the year: Greece Says Bonds Now an 'Opportunity' as Budget Deficit Falls'
This is the republican plan for "economic recovery": They will take Congress, cut the deficit by 30%, project deficit reduction in out years back to under a $trillion, and declare all is well. The Fed will rally the bond market, Maria will masturbate on live TV, and the show will go on for a little while longer.
"Maria will masturbate on live TV" (lmao)
After reading Michael Lewis's article in Vanity Fair on Greece, there is no way in hell I would touch those bonds.
"Frontrunning"
the only item on this list should be:
"Today is Thursday: the authorities will force the stock market higher today, just as they do on Monday, Tuesday, Wednesday, and Friday."
Norway buying crap bonds from Greece made my day!
WTF Goldman have lost their f.n mind
Australian housing is not in a speculative bubble but could be up to 35 per cent overvalued, Goldman Sachs says in a report, warning that an abrupt and sustained decline in the terms of trade over the next few years could act as a catalyst in deflating house prices across the country.
Still, Goldman Sachs says house prices are 25 to 35 per cent overvalued, based on a measure of affordability that takes house prices, income, lending criteria and mortgage rates into account.
Today I got another message from my suppliers: All metal products and PVC products : +7%!
"Norway Buys Greek Debt as Sovereign Wealth Fund Sees No Default"
If I was Norwegian I would be on the street with a pitchfork, I wonder if this news is even reported in Norway, any1 from there please tell
@ Azannoth
This kind of news is hardly ever reported on in Norway.....At least not in MSM and of course never in a fashion ordinary people would understand the implications of these idiotic actions.
But then again why should anyone bother, the average complacent Norwegian asshat is and has always been carefully indoctrinated that they are superior human beings. Norwegians are world-champions in all and everything.
LMAO
Any reason gold just spontaneously dropped $10?
Norwegians sold gold to buy Greek debt ;) no seriously !
UPDATED CHARTS:
http://stockmarket618.wordpress.com
Nice article thanks.
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