Frontrunning: August 19

• Inflation May Embolden Foes of Fed Stimulus (Bloomberg)
• July inflation spike won’t stop QE3 (Reuters)
• Clamour for amendments to Italian austerity (FT)
• Biden seeks to reassure China on U.S. debt (Reuters)... fails
• Japan Forex Chief Meets BOJ Officials to Talk Yen (WSJ)
• BofA’s Moynihan Says to Expect 3,500 Job Cuts (Bloomberg)
• France Eases Ban on Short Selling Before Index Futures Expire (Bloomberg)
• Noda Pledges to Do His ’Utmost’ to Alleviate Strong Yen Risk (Bloomberg)
• Krugman Says Italy, Spain Can ‘Probably’ Survive Euro Zone’s Fiscal Crisis (Bloomberg).... i.e., game over for Italy and Spain
• Fed says it is treating U.S., European banks the same (Reuters)
• Obama Must Get Bold, Tell Republicans ‘It’s On’ (Bloomberg)

Europen economic update:

• Germany Producer Prices for July 0.7% mom 5.8% yoy - higher than expected. Consensus 0.1% mom 5.3% yoy. Previous 0.1% mom 5.6% yoy
• UK Public Finances (PSNCR) for July -5.6B higher - than expected.Consensus -8.0B. Previous 20.4B (Revised from 21.0B)
• UK PSNB ex Interventions for July 0.0B lower - than expected.Consensus 2.4B. Previous 14.3B (Revised from 14.0B)
• UK Public Sector Net Borrowing for July -2.0B - lower than expected.Consensus 0.2B. Previous 12.4B (Revised from 12.0B)

Comments

[flyr1710]

obama tells republicans 'it's on'  where, on the golf course or at the 19th hole?

[Cdad]

Bank of America Corp. (BAC) Chief Executive Officer Brian T. Moynihan told his managers at the biggest U.S. lender to expect 3,500 job cuts this quarter.

Hooray!  Let the healing commence.

[Sudden Debt]

It's just Feeding the Dragon as they say.

[Moneyswirth]

Reuters story on the BAC cuts:

Executives at the bank are still discussing the possible range of cuts, but one person familiar with the situation said at least 10,000 jobs are likely to be eliminated as part of a wider review, the Wall Street Journal said in a report.

Sill Reuters headline writers.  

[Sudden Debt]

It was a touch decission.

OR THEY HAD TO FIRE 10 EXECUTIVES

OR THEY HAD TO FIRE 10,000 "EMPLOYEES"

and if they fired 10 executives, it would be dirupt their friday evening bowling team competition they've set up so the "EMPLOYEES" had to take one "FOR THE TEAM"

[Urban Roman]

In other news, your circulatory humors are out of balance.

We must apply leaches to restore that balance..

[TapeReader]

Here’s a long-term thought about locking in delivery of crude oil way out into the future and using these prices to create a retail gasoline futures contract so that the average Joe can fill up his car with $3.50 gas for the next 5 years….

http://algofutures.com/blog/why-arent-retail-gasoline-futures-being-offered-by-the-seven-sisters-or-better-yet-by-a-retail-gas-company-that-wants-to-eat-the-7-sisters-lunch/

Hope that you find this as interesting as I do.

C

[disabledvet]

When The Krug Man starts wearing a black beret and face paint then i'll know "we're good to go." Until then i'm more on the side of being...."unmoved."

[Careless Whisper]

The careless Whisper Morning Report

Rick Perry Gay Rumors Go Unanswered

http://www.youtube.com/watch?v=B6MU0u34FQQ

GoldmanSachs Getting Out Of Prison Biz

http://www.nypost.com/p/news/business/prison_phone_profit_lFs1FFO4W7hcG8...

Maxime Waters: Obama Creating Angry Black Men

http://www.latimes.com/news/nationworld/nation/la-na-maxine-waters-20110...

Governor Cancels Reality Show About How Good Florida Prisons Are: Governor Trying To Privatize Them

http://www.palmbeachpost.com/news/state/gov-scott-shuts-down-shooting-of...

Bank Of America: 10,000 Layoffs

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/08/18/national/a22...

England Or North Korea?: Protestors Go To Prison

http://www.guardian.co.uk/uk/2011/aug/18/full-picture-of-riot-sentences

[sudzee]

Biden current trip to China to beg forgivness and "we are good for the money". Next up will be a trip to see Chavez to beg for his gold to be deposited in NY " cause you know we are good people".

[joak]

The Teleprompter cannot withdraw anymore :

http://www.youtube.com/watch?v=czLjm8QqRSc

[zorba THE GREEK]

Hold on to your personal property and at all times keep hands and feet inside of car, the ride is about to begin

[Moneyswirth]

Headline on Bloomberg:  "Futures pare losses"

SPY futures down 16.50

Ahahahahahaha