Frontrunning: October 25

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  • German lawmakers win full say on EFSF (Reuters)
  • Spain Slipping on Deficit Increases Chances of Contagion (Bloomberg)
  • China faces tight power supply this winter (China Daily)
  • Greece, China sign memorandum of cooperation (Kathimerini)
  • Gov. Corbett launches state takeover of Pa. capital, declares fiscal emergency (WaPo)
  • In Cautious Times, Banks Flooded With Cash (NYT)
  • An apocalyptic end to world’s biggest bubble (MarketWatch)
  • China to Waive Stamp Tax on Small Lending Contracts, Gov’t Says (Bloomberg)
  • Banks Clash With Lawmakers on Greek Rescue (Bloomberg)
  • Sinopec, CNPC to Boost October Oil Processing, Oilchem Says (Bloomberg)
  • EU Signals Fund Leverage Needs More Talks (Bloomberg)

European Economic Highlights

  • Germany GfK Consumer Confidence Survey for November 5.3 – higher than expected. Consensus 5.1. Previous 5.2.
  • France Consumer Confidence Indicator for October 82.0 – higher than expected. Consensus 78.0. Previous 80.0.
  • Italy Retail Sales s.a. for August 0.0% m/m – in line with expectations. Consensus 0.0% m/m. Previous -0.1% m/m.
  • Italy Retail Sales for August -0.3% y/y – lower than expected. Consensus -2.3%. Previous -2.4%. Revised -2.3%.
  • Italy Consumer Confidence Ind. s.a. for October 92.9 – lower than expected. Consensus 97.6. Previous 98.5. Revised 94.2.
  • Sweden PPI -0.7% m/m -0.2% y/y - lower than expected. Consensus -0.2% m/m 0.3% y/y. Previous 0.3% m/m 0.9% y/y.
  • Switzerland UBS Consumption Indicator for September 0.84. Previous 0.79.
  • UK BBA Loans for House Purchase for September 33130 – lower than expected. Consensus 36000. Previous 35226. Revised 35069.
  • UK Current Account for Q2 (BP) -2.0B – higher than expected. Consensus -9.0B. Previous -9.4B. Revised -4.1B.