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Frontrunning: October 27

Submitted by Tyler Durden on 10/27/2011 07:18 -0400

EU Sets 50% Greek Write-down, $1.4T in Debt Fight (Bloomberg)
EU pushes banks to find extra €106bn for June (FT)
Italy's Berlusconi Says No Plans For Early Elections (WSJ)
U.S. Supercommittee Flirts With Failure (Bloomberg)
Fed to wrestle with communication policy (FT)
Investors show interest in foreclosure plan (Reuters)
Bank's Posen says QE size about right (Reuters)
Japan's Finance Minister Blames Yen Rise on Speculators (WSJ)
China Nixes Rapid Yuan Rise (WSJ)
Barclays, Mizuho Predict China Policy Easing (Bloomberg)
H.K.’s Tsang Sees Rising Risk in Home Market (Bloomberg)
South Korea Ruling Party Loses Seoul Vote in Warning for Lee (Bloomberg)
Singapore Says Economic Growth to Stall (Bloomberg)

European Highlights:

Eurozone M3 s.a. 3 month avg 2.6% y/y – in line with expectations. Consensus 2.6% y/y. Previous 2.3% y/y.
Eurozone M3 s.a. 3.10% y/y - higher than expected. Consensus 2.80% y/y. Previous 2.80% y/y. Revised 2.70% y/y.
Eurozone Business Climate Indicator -0.18 – higher than expected. Consensus -0.2. Previous -0.06.
Eurozone Consumer Confidence -19.9 – in line with expectations. Consensus -19.9. Previous -19.9.
Eurozone Economic Confidence 94.8 – higher than expected. Consensus 93.8. Previous 95.0.
Eurozone Indust. Confidence -6.6 – higher than expected. Consensus -7.0. Previous -5.9.
Eurozone Services Confidence 0.2 – higher than expected. Consensus -1.0. Previous 0.0.
Germany CPI - Saxony for October 0.2% m/m 2.7% y/y. Previous 0.3% m/m 2.6% y/y.
Germany CPI - Brandenburg for October 0.1% m/m 2.4% y/y. Previous -0.1% m/m 2.3% y/y.
Germany CPI - Hesse for October 0.0% m/m 2.4% y/y. Previous 0.3% m/m 2.3% y/y.
Germany CPI - Bavaria for October 0.3% m/m 2.7% y/y. Previous 0.0% m/m 2.5% y/y.
Germany CPI - Baden Wuerttemberg for October 0.3% m/m 2.8% y/y. Previous 0.0% m/m 2.5% y/y.
Sweden Household Lending for September 5.7% y/y – lower than expected. Consensus 5.9%. Previous 6.2%.
Sweden Riksbank Interest Rate 2.00%. Consensus 2.00%. Previous 2.00%.
UK CBI Reported Sales for October -11.0 – higher than expected. Consensus -16.0. Previous -15.0.

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Thu, 10/27/2011 - 07:22 | 1816487 westboundnup

Futures 200+. Good time to get defensive.

Thu, 10/27/2011 - 07:55 | 1816555 CPL

Best offense and defense in this situation is to hold what you have, wait for that 1.4 trillion to be injected directly into the european markets.

If you aren't playing, don't even go near the markets. It's not worth the stroke purchased in installments.

This reminds me of the Christmas dead cat bounce in 2008 after the Nov collapse. It's a bear and bull trap. Neither can play effectively.

Thu, 10/27/2011 - 07:27 | 1816498 peekcrackers

another hail Mary pass by the PTB to get threw the weekend.

Thu, 10/27/2011 - 07:28 | 1816502 Alienated Serf

a truly great day for our proletarian compatriots. more free shit for all, forever.

Thu, 10/27/2011 - 07:30 | 1816507 peekcrackers

2 letter weekend Au Ag

Thu, 10/27/2011 - 07:37 | 1816514 LongSoupLine

Don't forget Pb...

Thu, 10/27/2011 - 07:44 | 1816526 peekcrackers

dont catch VD or you will see the M.D for IV in your PP.

Thu, 10/27/2011 - 07:43 | 1816524 firstdivision

Wow, we've had nearly a 20% rally in one month on a whole lot of nothing. Not one thing has been solved regarding debt spending problems.

Thu, 10/27/2011 - 07:56 | 1816558 CPL

Fun isn't it.

It didn't just solve any debt issues, it added another 1.4 trillion to the problem.

Thu, 10/27/2011 - 07:44 | 1816527 Irish66

Can't wait to see who cries first. Should be telling

Thu, 10/27/2011 - 07:47 | 1816532 overmedicatedun...

govs in SA you cannot have your money!!!

Argentina ordered oil, gas and mining companies such as Xstrata Plc to repatriate all future export revenue as the government struggles to stem accelerating capital flight from South America’s second-biggest economy.

Thu, 10/27/2011 - 07:54 | 1816550 AngryGerman

lol. free markets. wtf.

Thu, 10/27/2011 - 07:52 | 1816544 juwes

Today you buy the dip.

Thu, 10/27/2011 - 07:56 | 1816552 FunkyMonkeyBoy

So, what happened to the old adage, "Buy the rumor, sell the news"...

i think it became:

"When the world is ruled by fascist scum, you just buy. And don't try anything stupid and protect yourself in anyway with 'traditional' items... 'cause we'll f**k you good jack"

Thu, 10/27/2011 - 07:56 | 1816557 AngryGerman

you can only buy nowadays, bc selling is prohibited

Thu, 10/27/2011 - 07:57 | 1816564 MiningJunkie

Just BTFD and remember that raising cash is raising shit. Eurozone and U.S. bankers are trashing the integrity of their respective currencies and they know it. SHORT cash; don't go LONG of cash by selling assets like stocks and commodities. The worst trade EVER in Zimbabwe was selling stuff to buy cash because you wanted to get "defensive".

Never underestimate the replacement power of equities within an inflationary spiral.

Ask an old German how 1921-23 was....

http://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic

Thu, 10/27/2011 - 08:27 | 1816630 msmith

"Risk on" has unfolded as expected. Equity futures are up big with the USD down big. The ES, SPX, DX, AUDUSD, EURUSD, and USDCAD charts all have more room to run for the current moves.

Thu, 10/27/2011 - 08:38 | 1816678 msmith

"Risk on" has unfolded as expected. Equity futures are up big with the USD down big. The ES, SPX, DX, AUDUSD, EURUSD, and USDCAD charts all have more room to run for the current moves. http://bit.ly/rDcoCc

Mon, 07/16/2012 - 14:12 | 1865798 Gigik

Eurozone and U.S. bankers are trashing the integrity of their respective currencies and they know it.

Frontrunning: October 27

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