Frontrunning: August 23

Tyler Durden's picture
  • Bernanke to aid recovery with gradual boost in dosage (Reuters)
  • China factory output cools in August: HSBC (Reuters)
  • German court to rule on Sept 7 on euro, Greek bailouts (Reuters)
  • European Banks Must Pay Up to Borrow $100B (Bloomberg)
  • A ‘no-growth’ boom will follow 2012 global crash (Market Watch)
  • Merkel and Sarkozy Relationship Betrays Europe Crisis (Bloomberg)
  • White House to Scale Back Regulations on Businesses (WSJ)
  • Japan's Maehara Enters Race for Prime Minister (WSJ)
  • 'Arab Spring' Gives Way to an Uncertain Autumn (WSJ)
  • Regime Digs In Against Rebels (WSJ)
  • Euphemism 101: Soft Data Spur Trims to Growth Forecasts (WSJ)

Global highlights from Egan-Jones

  • Asian stocks climb as Copper, Gold advance on speculation of Fed stimulus.
  • China overtakes U.S. as largest market for PC's.
  • China says Libyan oil projects benefit both sides and hopes for return to stability.
  • Gold futures traded over $1,900 in Asia on Tuesday, continuing its record-breaking run.
  • HSBC's China "flash" PMI strengthened to a two-month high of 49.8 in August.
  • Irene strengthens to category 2 storm, threatening northeast US coast.
  • Mortgage delinquency rate rises to 8.44%; Foreclosure starts fall to lowest since 2007: MBA.
  • Oil rises above $86 in Asia as Libyan rebels battle Gadhafi supporters in Tripoli.
  • US economic activity rose in July, according to the Federal Reserve Bank of Chicago.
  • Alpha Natural Resources Inc. said it approved the repurchase of up to $600M in stock.
  • Buffett-backed BYD slumps in Hong Kong trading after 99% plunge in profit.
  • Cerberus backs out of Innkeepers purchase as buyouts show signs of stress.
  • Delta Air Lines plans to order 100 Boeing Co. 737 single-aisle jets, deal est. at $8.58B.
  • Focus Media beats by $0.07, posts Q2 EPS of $0.44. Revs rose 13.1% to $179M.
  • Ford and Toyota said they will partner to develop a new gas-electric hybrids.
  • Foster’s to return $520M to shareholders to thwart SABMiller offer.
  • Goldman says Blankfein hired lawyer in relation to US inquiry.
  • International Paper, PE firm Atlas Holdings to combine their consumer-packaging operations.
  • Lockheed Martin acquire QTC Holdings; terms of the agreement were not disclosed.
  • Lowe's to buy back up to $5B of its shares.
  • Maxim Integrated to buy back up to $750M in shares.
  • Newmont Mining plans new underground exploration program at its Waihi site in New Zealand.
  • Regulators gave Exxon permission to restart a 20-mile segment of Silvertip pipeline in Montana.
  • Sanofi-Aventis in talks to buy a majority stake in India's Universal Medicare Pvt. Ltd.
  • Travelzoo to buy back up to 500,000 shares.
  • UBS AG plans to cut about 3,500 jobs to help reduce annual costs by $2.5B.

Economic Calendar: New Home Sales to be release today.


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hugovanderbubble's picture

France is not AAA and UK neither too, dont hold UK and French Bonds cos downgrade is going to be effective soon

Rothschild bank will act as stabilizer agent...OH SNB Thanks for showing us the light...


Switzerland making Socgen going to the hell.


Rothschild vs Rockefeller war has just started

digitlman's picture

If Bernanke's "aid" involves him quitting, then I am all for it!

Captain Benny's picture

Tyler, the link for "White House to Scale Back Regulations on Businesses (WSJ)" is incorrect.  It should be: for the paywall

Popo's picture

Bernanke's "boost in dosage" is an indication of the kind of Fed speak we can expect to see.

This is jawboning.   They're promising to do "something" ... "as necessary"... "where possible".

As if the entire world didn't just witness 100% of QE2 coming unwound in a matter of months.

There's no possible way for a "smaller drip" of stimulus to have *ANY* effect whatsoever given that the supposedly knock-out punch of QE2 did absolutely nothing.



the not so mighty maximiza's picture

I disagree; just a miner sub conscious thought of more stimuli will give the market a woody. Without it a soft-on for life

Cultural Capital's picture

stationary state, bitchez 

Randy Kruger's picture

Front page Bloomberg news:


Apparently Bberg editorial staff thinks that a $15 drop in spot is now top news.  And I thought they only paid attention to iJunk and patent trolls.

Catullus's picture

Holy shit. It almost plunged 1%.  Stick save.



Careless Whisper's picture



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Catullus's picture

Is Reuters already writing damage control for Friday?