Michigan

AVFMS's picture

20 Dec 2012 – “ Merry Christmas (I Don't Want To Fight Tonight) ” (The Ramones, 1989)





EGBs and Equities rather a side-story today, as mainly static. EUR, too. Spain ticking in. Italian 2s on new lows (with the old reference nearing 1.5%). Good US GDP, bad Gold Dump Party (GDP, too). Worse Silver sell-out. Metal weakness? Maybe the Mayans are getting rid of their stocks before tomorrow? Another shy EStoxx high and Risk low. Don’t fight (the trend)…

"Merry Christmas (I Don't Want To Fight Tonight)" (Bunds 1,42% unch; Spain 5,22% -3; Stoxx 2661 +0,1%; EUR 1,322 -40)

 
Tyler Durden's picture

Frontrunning: December 20





  • IMF Demands Partial Default for Cyprus (Spiegel)
  • Boehner's 'Plan B' Gets Pushback (WSJ)
  • Beijing criticises US ‘political checks’ (FT)
  • White House Said to Tell Business Groups Talks Stall (BBG)
  • NYSE tries to get hitched again: IntercontinentalExchange in talks to buy NYSE (Reuters) -> N-Ice coming?
  • Greece faces ‘make or break’ year (FT)
  • Fed rejects idea of consensus forecasts, "maybe forever": Fisher (Reuters)
  • Rajoy Drives Spanish Revolution With Low-Cost Manufacture (BBG)
  • Italian Senate Set for Budget Vote Before Monti Resigns (BBG)
  • BOJ Loosens With Pledge to Review Inflation Objectives (BBG)
  • Bowing To Abe, BOJ To Review Price Goal (WSJ)
 
Burkhardt's picture

Rising from the Ashes: EUR Bull Run





EU confidence sparks a Euro bull run. Both the EU’s strongest and weakest economies are positively shifting. The S&P has lifted Greece’s credit rating by 5 notches to a “B minus”, and Germany’s IFO survey came in strong for the second month running indicating that business sentiment is on the rise.

 
AVFMS's picture

19 Dec 2012 – “ Oh Come All Ye Faithful ” (Twisted Sister, 2006)





Would be easy to call this boring, given the state of the market and volumes, but undercover Risk On definitively there. Greek 10s over the moon and far away (up 500 ticks)… Strong EUR. Seems a little easy, but who wants to fight? It’s Yule Time – at least until Friday, then we’ll see what the Mayans really meant.

"Oh Come All Ye Faithful" (Bunds 1,42% +0; Spain 5,25% -4; Stoxx 2658 +0,4%; EUR 1,326 +40)

 
AVFMS's picture

18 Dec 2012 – “ I Saw Mommy Kissing Santa Claus ” (John Mellencamp, 1987)





Another boring session, worsened by year end inactivity… Good close. Fiscal Cliff haggling on-going with a positive spin this time and Risk riding high.Spain catching up and paring yesterday’s soft patch, as is Italy. ESToxx at the highest since Aug 2011. Credit very squeezed. EUR strong. Merry Mood!

"I Saw Mommy Kissing Santa Claus " (Bunds 1,42% +5; Spain 5,29% -12; Stoxx 2647 +0,7%; EUR 1,322 +50)

 
AVFMS's picture

17 Dec 2012 – “Jingle Bell Rock ” (Billy Idol, 2006)





Utterly boring Monday session, worsened by year-end inactivity… Won’t get any better going forward, probably. Fiscal Cliff a cliff-hanger (I know, cheap)… Spain on the heavier side with contingent funding holes still popping up here and there.

"Jingle Bell Rock" (Bunds 1,37% +2; Spain 5,41% +4; Stoxx 2628 unch; EUR 1,317 +30)

 
AVFMS's picture

Shuffle Rewind 10-14 Dec " Lazy Sunday Afternoon " (Small Faces, 1968)





Bingo Bongo, Good News hailing, Sleepily digesting in the South to end Stuck… What an uninspiring week… Felt slow as a Sunday Afternoon– for 5 days in a row… The only thing that wasn’t lazy and laid back was the EUR.

 
Tyler Durden's picture

Newtown Shooter Had Asperger Syndrome, And Some US Gun Facts





Update: The focus now shifts to the mother, the first casualty of her son's murderous rampage, who was a "big, big gun fan" as the NYT explains, and who went target shooting with her children, one of whom had Asperger's.

As we reported last night, buried inside the NYT biopic of Newtown shooter Adam Lanza was arguably one of the most important missing pieces in the story, at least so far, which could provide clues into partially explaining yesterday's tragic loss of young life, namely that the 20 year old man suffered from Asperger Syndrome, a high-functioning form of autism (two conditions which are being merged in the upcoming update of the Diagnostic and Statistical Manual (DSM-5) manual of mental disorders), which has been traditionally associated with social communication difficulties, including flat affect, and one which in some clinical studies has been shown to have a causal link to violence. In other words, in addition to the surge in the debate over national gun control and access limitations (ignoring that the perpetrator of the biggest school mass murder in US history - the Bath School disaster - used openly purchased dynamite and no guns, also ignoring that in the US there are roughly 300 million firearms), perhaps there should also be a broad discussion as to the risks of social misadoption of children with autism and other social and behavioral disorders.

 
AVFMS's picture

14 Dec 2012 – “ Stuck in the Middle with You ” (Stealers Wheel, 1972)





Utterly boring Friday session, worsened by year end inactivity… PMI figures, which were actually needed on the more positive side to justify the latest levels in Risk were just so so in Europe. But, who cares? Periphery recovering further with Spain actually the best performer on the week (outside the bailed-out gang). US stuck despite better figures.

"Stuck in the Middle with You" (Bunds 1,35% unch; Spain 5,37% -1; Stoxx 2628 +0,2%; EUR 1,314 +60)

 
AVFMS's picture

13 Dec 2012 – “ When It's Sleepy Time Down South ” (Louis Armstrong, 1931)





Markets getting back to some normality with the Periphery still recovering, although less today after the auctions, Bunds 5 wider on the week, Italy 10, but Spain 7 tighter across the curve from last Friday. Equities and Risk oblivious to that anyway and synching with the US. Getting difficult to find something crisp out there with reduced news flow and volatility. Excitement to be found in the US on FC developments, now that Greece, Spain and Italy are seemingly off the table and that the FED has moved to QE4.

"When It's Sleepy Time Down South" (Bunds 1,35% +1; Spain 5,38% +4; Stoxx 2622 -0,2%; EUR 1,308 +40)

 
Tyler Durden's picture

Frontrunning: December 12





  • Here come the low margin products: Apple Tests Designs for TV (WSJ)
  • Obama and Republicans Trade Offers to Avert Fiscal Crisis (BBG)
  • Carney broaches dumping inflation target (FT)
  • Bernanke Critics Can’t Fight Bonds Showing No Inflation (BBG)
  • Corporate Taxes on Table in Cliff Talks (WSJ)
  • US business chiefs back tax rise (FT)
  • Greece Confident Bond Buyback Needed for Aid Succeeded (BBG)
  • New Faith in Europe's Banks (WSJ)
  • European Bank Sees Little Room for Rate Cuts (WSJ)
  • North Korea Claims Success in Rocket Launch (WSJ)
 
ilene's picture

Sorry Protesters: Your Jobs Are Being Sent To China And They Aren't Coming Back





There is a one way conveyor belt taking businesses, jobs and money out of this country. 

 
Tyler Durden's picture

Jimmy Hoffa Warns Of "Civil War" As Michigan Governor Signs "Right-To-Work" Into Law





Minutes before Michigan Governor Snyder signed the 'Right-To-Work' bill into law, Teamster leader Jimmy Hoffa appeared on CNN,as seen in the clip below, warning that: "This is just the first round of a battle that's going to divide this state. We're going to have a civil war," as the bill to weaken unions' power is passed.

 
Tyler Durden's picture

Meanwhile In Lansing, Michigan...





Here are two short clips to serve as a harbinger of what may and most likely will happen in the US as labor unions are stripped of even more power in the coming months and years, showcasing their reluctance to go gentle into that good night. This is how close the US is from violence at any one moment. Luckily, nobody was seriously hurt this time.

 
Tyler Durden's picture

Go West Young Man, To The "New Normal" Dream Job: California State Workers Earning $822,000





There was a time when working on Wall Street, either on the sell or buy side,  was the dream of every able-bodied worker who could do simple addition in their head and wasn't afraid to cut the occasional corner in exchange for a bottle of Bollinger and a sizable year end bonus. That, however, was so 2006 and with the long overdue conversion of the banking sector into a utility the stratospheric compensation payments from the peak of the credit bubble are long gone. So what is the New Normal dream job? Become a California state worker, preferably one who deals with neurotic and/or crazy people (i.e., a psychiatrist), and rake it in. The following chart from Bloomberg shows just how generous the otherwise insolvent state of California is when it comes to paying its public servants, and the 100%+ increase in California employee state pay since 2005. Needless to say, this is a rate of increase in compensation that 99% of workers in the private sector would die for.

 
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