Frontrunning: July 29

Tyler Durden's picture
  • Amid Debt Battle, More Americans Say Economy Getting Worse (Gallup)
  • Treasury Faces Pressure to Detail Backup Plan (WSJ)
  • Debt-Increase Dispute Tests Boehner’s Power (Bloomberg)
  • U.S. Economic Growth Probably Slowed (Bloomberg)
  • IMF Board Holds Informal Board Meeting On EU's Greek Financing Deal (WSJ)
  • Why are we in this debt fix? It’s the elderly, stupid (WaPo)
  • France Seeks Rapid Adoption of Greek Bail-Out (FT)
  • China Regulator Said to Tell Banks Provisions for Bad Loans Are Inadequate (Bloomberg)
  • How Democrats Missed Their One Chance To Put Rating Agencies in Their Place (New Republic)
  • Perth’s Tumbling Home Prices Outpace Australia, APM Says (Bloomberg)
  • Japan Bank Earnings Diverge (WSJ)
  • Making Change: The Simplest Practical Gold Standard System (Forbes)

European economic update:

  • Euro-Zone CPI Estimate (YoY) for July 2.5% - lower than expected.Consensus 2.7%. Previous 2.7%
  • France Producer Prices for June -0.1% m/m 6.1% y/y – in line with expectations.Consensus -0.1% m/m 5.9% y/y. Previous -0.5% m/m 6.2% y/y
  • France Consumer Spending for June 1.2% m/m 1.8% y/y.Previous -0.3% m/m -1.5% y/y (revised from -0.8% m/m -1.8% y/y)
  • Italy PPI for June 0.1% m/m 4.7% y/y – higher than expected.Cosensus -0.1 m/m 4.6% y/y. Previous -0.2% m/m 4.8% y/y
  • Italy CPI (NIC incl. tobacco) for July 0.3% m/m 2.7% y/y – higher than expected.Consensus 0.2% m/m 2.6 y/y. Previous 0.1% m/m 2.7% y/y
  • Italy CPI - EU Harmonized for July -1.7% m/m 2.1% y/y – lower than expected.Consensus -1.0% m/m 2.9% y/y. Previous 0.1% m/m 3.0% y/y
  • Norway Unemployment Rate for July 2.8% - as expected.Previous 2.5%
  • Sweden GDP s.a. for Q2 1.0% - higher than expected.Consensus 0.6%. Previous 0.8%
  • Sweden GDP w.d.a. for Q2 5.3% - higher than expected.Consensus 5.0%. Previous 6.4%
  • Sweden Wages - Non-Manual Workers for May 1.7%.Previous 1.8%
  • UK GfK Consumer Confidence Survey for July -30 – lower than expected.Consensus -26. Previous -25
  • UK Net Consumer Credit for June 0.4B – higher than expected.Consensus 0.3B. Previous 0.3B (revised from 0.2B)
  • UK Net Lending Sec. on Dwellings for June -0.1B – lower than expected.Consensus 1.0B. Previous 1.0B (revised from 1.1B)
  • UK Mortgage Approvals for June 48.4k – higher than expected.Consensus 46.0k. Previous 46.4k (revised from 45.9k)
  • UK M4 Money Supply for June -0.5% m/m -0.7% y/y.Previous 0.1% -0.3% y/y
  • UK M4 Ex OFCs 3M Annualised for June 0.8%.Previous 1.6% (revised from 1.0%)