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Frontrunning: August 16

Tyler Durden's picture

  • High pressure on Sarkozy-Merkel talks (Reuters)
  • Noda to "watch" "one-sided moves" in the USDJPY to parity soon enough - Yen to Reach Record Amid ‘Downfall’ of West, Sakakibara Says (Bloomberg)
  • Eurobond Debate Rises in Germany, France (WSJ)
  • China official paper calls for widening of yuan trading band (Reuters)
  • China Economy Slowing ‘Significantly,’ Conference Board Says (Bloomberg)
  • BOE's Miles: No Need for More QE (WSJ)
  • Christine Lagarde: Don’t let fiscal brakes stall global recovery (FT)
  • Zoellick: Governments should deal with global debt woes (Reuters)
  • On Midwest Bus Tour, Obama Jabs at GOP (WSJ)
  • U.S. debt still safest place for China reserves: top banker (Reuters)
  • Foreign Direct Investment in China Jumps 20% to $8.3 Billion (Bloomberg)
  • Buffett Made Biggest Bets on Stocks This Year (Bloomberg)
  • Perry Takes Aim at Bernanke (WaPo)
  • Banks to cut head counts by 5 percent to 10 percent (NY Post)

European economic data:

  • Germany GDP nsa for Q2 (y/y) 2.8% lower than expectedConsensus 3.2% Previous 5.0% 
  • Germany GDP s.a. for Q2 (q/q) 0.1% lower than expectedConsensus 0.5% Previous 1.3%  
  • Germany GDP wda for Q2 (y/y) 2.7% lower than expected Consensus 3.1% Previous 4.7% 
  • Sweden PES Unemployment Rate for July 4.2% in lineConsensus 4.2% Previous 4.1%
  • UK DCLG UK House Prices for June (y/y) -2.0%Previous -2.2%      
  • UK CPI for July 0.0% m/m 4.4% y/y slightly higher than expectedConsensus -0.1% m/m 4.3% y/y Previous -0.1% m/m 4.2% y/y
  • UK Core CPI for July 3.1%Consensus 3.0% Previous 2.8%   
  • UK Retail Price Index for July 234.7Consensus 234.7 Previous 235.2
  • UK RPI for July -0.2% m/m 5.0% y/yConsensus -0.2% m/m 5.0% y/y Previous 0.0% m/m 5.0% y/y
  • UK RPI Ex Mort Int. Payments for July (y/y) 5.0%Consensus 5.1% Previous 5.0%  

Global headlines from Egan-Jones

  • Asian stocks gain on takeovers, valuations; Euro trades near 3-week high.
  • China’s economy slowing, should have 'soft landing,' Conference Board says.
  • ECB spent record $32B buying bonds to prop up eurozone heavyweights Italy, Spain.
  • Fed says banks eased lending standards in Q2 amid competition.
  • Manufacturing activity in the New York region deteriorated for the third straight month in August.
  • German economy almost stalled in Q2 as GDP rose 0.1%.
  • Agilent Technologies' Q3 net rises 61% to $330M; revs up 22.5% to $1.69B.
  • Air Lease to buy 19 Boeing jets for $2.5 billion.
  • Buffett's Berkshire Hathaway reported it took a new stake in Dollar General.
  • Cargill will acquire Dutch animal-nutrition business Provimi Group for $2.14B.
  • Carlyle in talks to acquire contract drug developer Pharmaceutical Product Development Inc.
  • Cliffs Natural Resources announces 4M share repurchase authorization.
  • Estée Lauder offered a cautious outlook for its upcoming fiscal year; cites economic turmoil.
  • Google to buy Motorola Mobility for $12.5B in bid for more patent protection in mobile market.
  • Huawei posted H1 revenue growth of 11%; confident it can reach annual sales of $31.13B.
  • Icahn reports new stakes in Vector Group, El Paso. Einhorn's Greenlight increases MSFT stake.
  • KAR Auction Services announces agreement to acquire OPENLANE for $210M in cash.
  • Lowe’s cuts outlook, highlights economic pressures.
  • MGM Resorts to destroy hotel project in Las Vegas, cites construction-engineering issues.
  • Myriad Genetics announces new $200M share repurchase program.
  • National Oilwell bags $1.5B order to supply equipment for seven offshore rigs in Brazil.
  • Nokia jumps as Google-Motorola deal may move handset makers to Microsoft
  • Petrobras Q2 profits up 32% to $5.2B; revs up 14.6% to $38.8B.
  • Soros fund cut stakes in Citi, Wells Fargo; Paulson cuts BofA., Citi stakes, ups CapOne.
  • Transocean agreed to acquire Norwegian rig operator Aker Drilling for $1.43B.
  • United Rentals to acquire Ontario Laser in Canada; terms not disclosed.
  • Urban Outfitters Inc. Q2 net down 21%; posts EPS of $0.35 vs. consensus forecast of $0.32.
  • Valspar reports EPS in-line, posts Q3 EPS of $0.80. Revs rose 22.5% to $1.07B.
  • Westpac’s quarterly cash earnings slip as demand for lending fell, shares lower

Economic Calendar: Housing Starts, Export-Import Prices, July Industrial Prodn, Capacity Utilization, Retail Sales, Mich Sentiment, Business Inventories to be released today.
Earnings Calendar: ADI, BOBE, DELL, DKS, HD, MEDH, SKS, TJX, WMT.


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Tue, 08/16/2011 - 07:50 | 1564680 anynonmous
anynonmous's picture


"Even when the media does remember Ron Paul, it’s only to reassure themselves that there’s no need to remember Ron Paul."

Tue, 08/16/2011 - 08:00 | 1564705's picture

thanks for the link....great clip..and oh so true....Mainstream Agenda?!?!?! Nooooooo......

Tue, 08/16/2011 - 08:34 | 1564776 Careless Whisper
Careless Whisper's picture

it's really not "the media" per se, it's the global interests that control the media.  they are def running scared of r p.

Tue, 08/16/2011 - 07:46 | 1564681's picture

all inflate up......everyone is drunk on cheap gas, loose consumer credit and low low interest rates.....never mind if almost nobody can qualify for a home loan....

Tue, 08/16/2011 - 07:55 | 1564697 Randy Kruger
Randy Kruger's picture

Buffett is a buffoon and a crony capitalist talking up his own book.  The man really has no shame cavorting with Obama over the past few days with his "tax billionaires" monkey crap.



Tue, 08/16/2011 - 08:10 | 1564725 Bohemian Clubber
Bohemian Clubber's picture

UK UK UK !!! now that's some very sane inflation levels you have there

Tue, 08/16/2011 - 08:12 | 1564729 overmedicatedun...
overmedicatedundersexed's picture

ron paul,  is real change and hope..too bad the press will attack him as a loon until it sticks. EE let him alone as long as his poll numbers were low, now the full on smear will begin.

Tue, 08/16/2011 - 08:38 | 1564788 Careless Whisper
Careless Whisper's picture

it. won't. work.  their attacks will only make his message stronger.

Fri, 09/16/2011 - 01:45 | 1676228 jasmine
jasmine's picture

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