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One Minute Macro Update: April 13, 2011

Tyler Durden's picture




 
  • Chinese cos go on global bond spree; Mainland groups have borrowed $12.2B this yr.
  • Japan cuts its economic assessment as earthquake damage mounts.
  • Obama said to call for cuts in entitlements, higher taxes.
  • Oil hovers above $106 in Asia as investors eye crude demand amid 2-month rally.
  • OPEC sees higher demand for its oil in 2011 at 29.9M barrels/day, up 400,000 bbls YoY.
  • Swedish government expects public finance surplus in 2011, tax cuts in 2012.
  • Taiwan halts plans to build atomic reactors after Japan crisis.
  • US Import prices increased 2.7% in March on crude oil, food.
  • US lacks credibility on debt, says IMF. Stringent austerity measures needed.
  • ASML Holding's Q1 net tripled to €395M, sales nearly doubled to €1.45B.
  • Aspen Insurance Hldgs says initial loss estimate for the Tohoku Earthquake at ~$160M.
  • BofA Chief says foreclosures inevitable as re-defaults top 50%.
  • Citigroup ordered to pay $54.1M to two wealthy investors for losses they suffered on a series of risky municipal bond funds.
  • Deutsche Bank plans to restructure its US ops, which would allow it to operate with a thinner capital cushion.
  • Eagle Rock announces agreement to acquire Crow Creek Energy for $525M.
  • Everest Re expects $320M in losses from the March 11 quake and tsunami in Japan.
  • Fastenal beats by $0.02, reports Q1 EPS of $0.54. Revs rose 23.0% to $640.6M.
  • Foxconn Technology Group is considering $12B of investments in Brazil.
  • Hitachi, GE submit proposal to dismantle crippled Fukushima nuclear plant.
  • Jackson Hewitt receives notice regarding NYSE listing criteria.
  • JPMorgan's March net income rises from $3.3B to $5.6B.
  • OMV may sell 36% Borealis stake to IPIC to postpone potential share sale.
  • Rio Tinto Q1 iron ore production 42 million tonnes, down 3% vs year ago.
  • Schneider Electric says not in talks with Tyco International.
  • Wal-Mart will reduce space for electronics in US stores as sales decline.
  • Williams Inds sees Q3 revs at $191-193M vs. its prev view of $209-215M.

Economic Calendar: Data on MBA Mortgage Index, Retail Sales, Business Inventories, Crude Inventories, Fed's Beige Book to be released today.
Earnings Calendar: ABCB, ADTN, GLA, IGTE, JPM, MFRI, SUPR, TAYD, WWON, ZANE

From Egan-Jones

 

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Wed, 04/13/2011 - 07:57 | 1164577 clones2
clones2's picture

Obummer can "call" for cuts to entitlements all he wants...  If he actually touches them, he can say goodbye to 2012.

Wed, 04/13/2011 - 08:08 | 1164595 A Man without Q...
A Man without Qualities's picture

I am sure that whatever cuts they announce will somehow lead to further increases somewhere else.  It's all smoke and mirrors from here on in...

Wed, 04/13/2011 - 08:18 | 1164620 goldfish1
goldfish1's picture

GE submit proposal to dismantle crippled Fukushima nuclear plant.

Fukking vultures. My apologies to vultures.

Wed, 04/13/2011 - 09:25 | 1164799 HedgeFundLIVE
HedgeFundLIVE's picture

yesterday was just the beginning of the correction upon us!: http://www.hedgefundlive.com/blog/wednesday-market-expectation-41311-today-is-just-the-beginning

Wed, 04/13/2011 - 09:47 | 1164849 Pegasus Muse
Pegasus Muse's picture

disregard

Wed, 04/13/2011 - 10:31 | 1165023 TruthInSunshine
TruthInSunshine's picture

US lacks credibility on debt, says IMF. Stringent austerity measures needed.

I'm not young, but not old, either. If someone told me the IMF would be lecturing the U.S. in such a manner when I was an eighteen year old, university bound high school senior, I would have told them to put the bong down.

 

'My...the times...they have changed.'

-- paraphrasing Bob Dylan

Wed, 04/13/2011 - 12:32 | 1165548 jmc8888
jmc8888's picture

Of course the big banking syndicate wants the U.S. to impose austerity measures (not because they're needed) but because they want to STEAL more, and use that money to save..err, attempt to save...their bankster asses.

What idiots want to save the banksters? ANYONE and ANY POLITICIAN that has a position where they go for cutting social security, medicare/medicaid.

That's a fact.  Though you might have to pull yourself out of bullshit some more to see it.  Don't be a bankster tool, fight for these needed, humane services.

Tell the banksters to fuck off.

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