Frontrunning: November 11

• ECB as Last-Resort Lender Will End Crisis: Silva (Bloomberg) just don't tell the ECB that
• Crude Futures Head for Longest Run of Weekly Gains in New York Since 2009 (Bloomberg) - QE X coming
• China central bank to legalise part of private loans (Reuters)
• Bini Smaghi’s Resignation From ECB Opens Board Seat for France (Bloomberg)
• Goldman Sachs in China: Best Investment Ever? (WSJ)
• Europe Rebuked Over Crisis by Asia-Pacific Nations Seeing Expansion Weaken (Bloomberg)
• China ‘Big Four’ Banks Lent CNY240 Bln Loans In Oct (MNI)
• Progress Amid the US Deficit-Cut Noise (Reuters)
• Market volatility limits EFSF firepower (FT)
• US May Rival China in Job Competitiveness Soon (CNBC)

European economic highlights:

• Sweden PES Unemployment Rate for October 4.5% - in line with expectations. Consensus 4.50%. Previous 4.50%.
• UK PPI Input n.s.a. for October -0.8% m/m 14.1% y/y – lower than expected. Consensus -0.3% m/m 14.5% y/y. Previous 1.7% m/m 17.5% y/y.
• UK PPI Output n.s.a. for October 0.0% m/m 5.7% y/y – lower than expected. Consensus 0.1% m/m 5.9% y/y. Previous 0.3% m/m 6.3% y/y.
• UK PPI Output Core n.s.a. for October -0.1% m/m 3.4% y/y– lower than expected. Consensus 0.1% m/m 3.6% y/y. Previous 0.3% m/m 3.8% y/y.

Comments

[paarsons]

Fuck the markets!

Becky Quick is back.

Let's all masturbate.

http://fucklloydblankfein.blogspot.com

[Bobbyrib]

"US May Rival China in Job Competitiveness Soon"

Those bullshitters really know how to pump the market.

Yes, I believe the amount of people in the US working will increase drastically /sarcasm (notice I didn't say the unemployment rate would decrease).

One..more..pump.

[oleander garch]

Interesting factoid about China's 'big four' monthly domestic lending.  It would be neat to know what our big six did in terms of domestic lending in the last month.  

[Kina]

Nov. 11 (Bloomberg) -- The European Central Bank can stop the spread of the continent’s financial crisis with “foreseeable, unlimited” purchases of Italian and other government bonds, Portuguese President Anibal Cavaco Silva said.

Unlimited printing will solve the problem. No wonder Portugal is up shit creek.

[machineh]

Portuguese president Silva helped design the Maastricht limits (3% GDP max. deficits; 60% GDP max. debt).

Having blown through both limits, now he cries for 'unlimited' ECB funding to stave off 'speculators.'

What a craven, hypocritical euro-dipshit! Let's toast this whining loser ...

[Trying to Understand]

http://www.runforwwp.com/ - Happy Vetetans Day - Great News here, We Care.  Please share if you're so inclined, and support too.

[youngman]

Thanks to all that served..and Happy Veterans Day...

[kaiserhoff]

Why is the arrest of Jon Corzine not on this list?

[spanish inquisition]

OT - Word has it that the Penn State scandal may be a distant relative to the original Franklin Scandal.

http://theintelhub.com/2011/11/10/ex-penn-state-pedophile-coach-jerry-sandusky-may-have-sold-young-boys-to-rich-donors/

[Odin]

"US May Rival China in Job Competitiveness Soon" (CNBC)

...Thanks for the good laugh this morning CNBC!

[DoctoRx]

Sorry to disagree w the snark about the run of rising oil prices signifying QE to the X coming. Actually, off of a limited data set, QE 1 and QE 1.5 (which was the real beginning of QE 2, tho the Fed was not "transparent" back in August 2010 yet), and even the formal announcement of QE 2, all came when oil was well-behaved, as was gold.  We all know the endgame, but so does everyone else (almost).  I think it was Shakespeare (Edgar in King Lear) who sort of said that timing is everything. I think the Fed prefers to juice gold and oil when they've been weaker, longer.  So what do I know, but I'm holding out for another commodities dip ere QE next leaves port.

[DoctoRx]

Sorry to disagree w the snark about the run of rising oil prices signifying QE to the X coming. Actually, off of a limited data set, QE 1 and QE 1.5 (which was the real beginning of QE 2, tho the Fed was not "transparent" back in August 2010 yet), and even the formal announcement of QE 2, all came when oil was well-behaved, as was gold.  We all know the endgame, but so does everyone else (almost).  I think it was Shakespeare (Edgar in King Lear) who sort of said that timing is everything. I think the Fed prefers to juice gold and oil when they've been weaker, longer.  So what do I know, but I'm holding out for another commodities dip ere QE next leaves port.