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Frontrunning: December 8

Tyler Durden's picture

  • Germany insists on new treaty for Europe (FT)
  • Banks Prep for Life After Euro (WSJ)
  • Bank Values in Europe Fail to Lure Buyers (Bloomberg)
  • Banks' Ratings Reliance Nears End (WSJ)
  • BOE’s King Waits to See Europe Crisis Response (Bloomberg)
  • Accelerating U.S. Economy Eases Pressure for Further Fed Asset Purchases (Bloomberg)
  • Government acts on payday loan worries (FT)
  • Hong Kong May Loosen Property Curbs: Tsang (Bloomberg)
  • Japan’s Gold Exports Most Since 1985 as Individuals Sell Jewelry, Bars (Bloomberg)
  • Detroit on Review by Moody’s Will Pay $211 Million to Cut Swaps (Bloomberg)

European economic update

  • Bank of France Bus. Sentiment 95. Previous 96.
  • Turkey Industrial Production (nsa) 7.3% y/y – higher than expected. Consensus 5.0% y/y. Previous 12.0% y/y.
  • Turkey Industrial Production (wda) 7.3% y/y. Previous 6.0% y/y.
  • Netherlands CPI -0.1% m/m 2.6% y/y – higher than expected. Consensus -0.2% m/m 2.6% y/y. Previous 0.0% m/m 2.6% y/y.
  • Netherlands CPI - EU Harmonized -0.2% m/m 2.7% y/y. Previous 0.0% m/m 2.8% y/y.
  • Ireland CPI 0.0% m/m 2.9% y/y. Previous 0.3% m/m 2.8% y/y.
  • Ireland CPI - EU Harmonized 0.0% m/m 1.7% y/y. Previous 0.3% m/m 1.5% y/y.
  • Greece CPI - EU Harmonized 2.8% y/y – in line with expectations. Consensus 2.8% y/y. Previous 2.9% y/y.
  • Greece Consumer Price Index 2.9% y/y. Previous 3.0% y/y.
  • Greece Industrial Production -12.3% y/y. Previous -1.7% y/y.
  • Greece Unemployment Rate for September 17.5%. Previous 18.4%.
  • Czech Republic Current Account -1729.3M.  Previous -2047.0M. Revised -2407.7M.
  • Czech Republic Unemployment Rate 8.0% - in line with expectations. Consensus 8.0%.  Previous 7.9%.
  • Romania Industrial Output 0.0% m/m 4.8% y/y. Previous -0.6% m/m. 5.8% y/y.
  • Russia Gold & Forex Reserve 514.1B. Previous 510.2B.

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Thu, 12/08/2011 - 08:35 | 1957830 freethinker4now
freethinker4now's picture

bad bad abd good bad bad good bad bad and bad again



Thu, 12/08/2011 - 09:27 | 1957948 Mercury
Mercury's picture

For those still surprised/angry/confused as to why government subsidies tend to end up in the accounts of those who are able to quantify risk and think more than five minutes into the future:

California’s electricity market “deregulation” (subsequently and shamelessly exploited by Enron et al) would have provided a good, third example.

Thu, 12/08/2011 - 12:27 | 1958865 Bananamerican
Bananamerican's picture

well, i read it...

"Don't blame the John, blame the whore" seems to be the jist

("Don't blame wall street, blame Washington")

Fri, 12/09/2011 - 09:38 | 1962500 Mercury
Mercury's picture

Whores don't subsidize bad ideas.  To the extent that your analogy applies here, Wall St. is the whore (satisfying demand and doing what whores do), the government is the pimp and the public are the Johns who have traded a short term "fix" for empty pockets and a nasty disease.

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