Frontrunning: November 30

Tyler Durden's picture
  • China Cuts Reserve Requirement for Banks as Europe Crisis Threatens Growth (Bloomberg)
  • Don’t Count on China Easing Curbs: PBOC Adviser (Bloomberg)
  • Germany Told to Act to Save Europe (FT)
  • Fed Policy Makers Sharpen Differences Over Bond-Purchase Policy (Bloomberg)
  • European Nations Pressure Own Banks for Loans (WSJ)
  • Govt tries to soothe companies' concerns (China Daily)
  • S&P Rates China Banks Higher Than U.S. Rivals (Bloomberg)
  • Republicans Make Demands on Payroll Tax Cuts (FT)
  • Eurogroup Set to Fix EFSF Leveraging Rules, Deal With Greek Aid (Reuters)
  • Euro Ministers Bid for Bigger IMF Role as Fund Boost Falls Short (Bloomberg)
  • UK Faces Bigger Financial Black Hole (FT)
  • Chancellor To Confirm Strategy is Missing Target (FT

European economic highlights: 

  • Finland Trade Balance for Sept 2M. Previous 90M.
  • Germany Retail Sales 0.7% m/m -0.4% y/y – higher than expected. Consensus 0.1% m/m 2.0% y/y. Previous 0.4% m/m 0.3% y/y.
  • France Producer Prices 0.5% m/m 6.5% y/y – higher than expected. Consensus 0.2% m/m 5.4% y/y. Previous 0.2% m/m 6.1% y/y.
  • Denmark GDP -0.8% q/q -0.2% y/y – lower than expected. Consensus -0.4% q/q 0.0% y/y. Previous 1.0% q/q 1.8% y/y. Revised 1.2% m/m 1.9% y/y.
  • Switzerland Current Account SEK 76.1B. Previous SEK 61.8B.
  • Germany Unemployment Rate 6.9% - lower than expected. Consensus 7.0%. Previous 7.0%.
  • Italy Unemployment Rate 8.5% - higher than expected. Consensus 8.3%. Previous 8.3%.
  • Norway Retail Sales 0.7% m/m 1.2% y/y – higher than expected. Consensus 0.3% m/m 2.5% y/y. Previous -0.4% m/m 3.0% y/y.
  • Poland GDP 4.2% y/y – higher than expected. Consensus 4.0% y/y. Previous 4.3% y/y.
  • Belgium Unemployment Rate 6.6%. Previous 6.7%.
  • Eurozone CPI Estimate 3.0% - in line with expectations. Consensus 3.0%. Previous 3.0%.
  • Eurozone Unemployment rate 10.3% - higher than expected. Consensus 10.2%. Previous 10.2%.
  • Italy CPI (EU Harmonized) -0.1% m/m 3.7% y/y – higher than expected. Consensus 3.4% m/m 0.0% y/y. Previous 0.9% m/m 3.8% y/y.
  • Switzerland KOF Swiss Leading Indicator 0.35 – lower than expected. Consensus 0.65. Previous 0.80. Revised 0.75.