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One Minute Macro Summary
US: Futures lower almost globally in the early morning. Yesterday’s Fed minutes revealed a lack of faith in the recovery signals observed during the last two months, with the Fed noting its reticence to adjust the QE2 program at this juncture. The Fed further expressed concern on the European debt issues that have been gaining attention in the market over the past few months. With all of the variables in place, several Committee members stated that they had a “fairly high threshold” for making adjustments to QE2. We believe the Fed is also a bit hamstrung with respect to its political fortunes considering the new legislative makeup. Today will bring Job Cuts, ISM Non-Manufacturing, and the ADP Employment Change as a preview to Friday’s data.
Europe: Eyes are on auctions, with Germany and Portugal coming to market in an unimpressive fashion. The €5B EFSF debt sale scheduled for today was reportedly 3x oversubscribed with pricing expected to be mid swaps +15bp. The markets should keenly watch the actual pricing of the deal and its secondary trading as well as the knock-on impacts on traditional Euro sovereign issuance. We still believe that a finite capped facility that effectively crams down traditional issuance will cause further pressure on spreads. A new EU draft proposal suggests that bondholders take losses on ailing banks rather than upstreaming the responsibility to the sovereign level and bailouts being taxpayer funded. The proposal suggests that equity, sub, and senior debt all be impacted in turn. SNB has cut some Irish bonds from their list of eligible repo collateral without further comment.
Asia: China experiences a drop in 7 day repo financing after the turn financing cycle passes. China Vice Premier Li Keqiang reiterates that China may purchase more Spanish debt contingent on market conditions. China has issued supportive language to several Euro peripheral debt members in the past couple of months, with trade issues the likely European bargaining chip. The Chinese Securities Journal reported that China will allow a 5% appreciation for the Yuan v the dollar in 2011. PBOC is reiterating their variable reserve ratio assessments for banks on a monthly basis. Japanese trade officials noting that they may consider domestic demand stimulus to combat the impacts of a strong JPY.
From Brian Yelvington of Knight Capital
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Something strange just happened in Europe. Just like in America where birds where falling from the skies, the same happened over here.
One of the reasons they say is changes in air currents of warm air that are aligned with the magnetic earth lines are shifting making the birds fly in ice cold air instead of warm air and just freeze.
It could be more then just global warming so it seems that is happening.
Hey SD, that is really weird. Something big is stinking...
Animal die offs (species die-offs accelerating) usually happens just before highly, shall we say, de-stablizing events.
Hmmmmm.....
http://aadivaahan.wordpress.com/2011/01/05/stairwell-sigtar/
ORI
have you got a link to that Sudden Debt?
yes, it's actually front page news here.
Translate from Dutch to English:
http://www.hln.be/
http://www.hln.be/hln/nl/2661/Bedreigde-Dieren/article/detail/1203721/2011/01/05/Tientallen-vogels-vallen-nu-ook-dood-uit-de-lucht-in-Europa.dhtml
It looks to be 50-100 birds dead in some small town in Sweden. Having visited Sweden, my guess is that they most likely dropped dead from boredom. :)
Silver is being nuked again...:(
BTFD FFS!
Just a attempt with bogus news and naked short selling to try to spur a selling market.
It'll recover with a vengeance pretty soon ;)
S&P500/DOW/FTSE/DAX/ASX200 daily chart bearish warnings continue.
DAX daily is already confirmed IMHO.
http://stockmarket618.wordpress.com
Can someone provide an explanation on why Silver is getting absolutely HAMMERED in the last 48 hours? 31 to 28 and change is mind boggling.
No clue. But I try not to pay attention to short term market fluctuations, which seem basically random to me. I leave that for the traders. The trend is my friend, and I see the trend as up.
Read all about it here:
http://harveyorgan.blogspot.com/
Thanks guys.
Thanks guys.
It is primarily but not exclusively US military that is
driving the "climate change" with HAARP and other
ionospheric heating devices, altering the jet stream
causing drastic effects. This is the execution of
the elitist globalist eugenicist agenda, to create
a general crisis (problem/reaction/solution) in order
to usher in the totalitarian global government,
in preparation for mass population reduction.
Anthropogenic Global Warming is just the money
making scam associated with the program.