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Frontrunning: December 2

Tyler Durden's picture

  • Merkel Says Joint Euro Bonds Unthinkable as EU Faces Marathon (Bloomberg)
  • Draghi hints at eurozone aid plan (FT)
  • Europe prepares oil imports embargo on Iran (FT)
  • RIMM cuits guidance.... again (Marketwire)
  • Sarkozy Says Euro Zone Risks a Breakup Without Further Fiscal Convergence (Bloomberg)
  • King warns of ‘spiral’ into systemic crisis (FT)
  • JPMorgan Follows UBS Cutting Carbon Jobs (Bloomberg)
  • Merkel fights for euro she says is stronger than D-mark (Reuters)
  • Hilsenrath: Fed Officials Don’t See Central Bank Cutting Discount Rate (WSJ)
  • Agreements Lift Threat of Immediate US Rail Strike (CNBC)
  • Mukherjee: No Room for Fiscal Stimulus (WSJ)

European Economic Highlights

  • Hungary Trade balance 6.47T. Previous 6.50T.
  • Spain Unemployment (net, 000’s) 59.5 m/m. Previous 134.2 m/m.
  • Switzerland Retail Sales -0.2% y/y – lower than expected. Consensus 0.0% y/y. Previous -1.4% y/y.
  • Norway Unemployment Rate 2.4%. Consensus 2.4%. Previous 2.4%.
  • UK PMI Construction 52.3 – higher than expected. Consensus 52.0. Previous 53.9.
  • EuroZone PPI 0.1% m/m 5.5% y/y – lower than expected.. Consensus 0.2% m/m 5.6% y/y. Previous 0.3% m/m 5.8% y/y.

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Fri, 12/02/2011 - 08:22 | 1937789 Ethics Gradient
Ethics Gradient's picture

If Iran can't export oil to Europe, what will happen to Greece?

Fri, 12/02/2011 - 09:09 | 1937878 i-dog
i-dog's picture

Maybe it's leaving Europe?

Fri, 12/02/2011 - 10:12 | 1938157 Muddy1
Muddy1's picture

they'll use olive oil

Seriously, now we know more about why Lybia was invaded by NATO, they were securing a fuel supply in anticipation of sanctions against Iran 

Fri, 12/02/2011 - 08:27 | 1937794 HelluvaEngineer
HelluvaEngineer's picture

So...which of these is the reason why ES is up 16.5 pts?

Fri, 12/02/2011 - 08:38 | 1937805 TooBearish
TooBearish's picture

Central planning works! The right Asset prices are up, exhange rates steady and bonds solidly controlled....EURO technocrats fist pumping that they slayed it this week BITCHEZ....

Fri, 12/02/2011 - 08:42 | 1937813 pufferfish
pufferfish's picture

Biggest rises in 3 years. Amazing what free money can do.

Fri, 12/02/2011 - 08:49 | 1937830 youngman
youngman's picture

What is the deal with the Spainsh unemployment...dropped in half???  Is that a monthly claims number??

Fri, 12/02/2011 - 09:10 | 1937872 i-dog
i-dog's picture

  "JPMorgan Follows UBS Cutting Carbon Jobs"

What's Al "I invented the Internet and Global Warming" Gore going to do for a nickel now? Invent electricity?

Fri, 12/02/2011 - 09:08 | 1937874 Savvy
Savvy's picture
  • Europe prepares oil imports embargo on Iran (FT)

    Well well. Seems the IGS in PIIGS (biggest buyers of Iranian crude) have dropped their opposition to an embargo.

    I wonder if that massive CB bailout had much to do with that?

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