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Frontrunning: October 5

Submitted by Tyler Durden on 10/05/2011 07:26 -0400

Merkel Says Euro Bonds no Endgame for EU Woes (Bloomberg)
China on Course to Squeeze Property Bubble (China Daily)
Moody’s Sees More European Downgrades (Bloomberg)
Athens Able to Pay Public Sector Wages (FT)
Ireland Still Faces Bailout Challenges (WSJ)
Death of Euro Seen Exaggerated Amid Non-Pimco Political Will (Bloomberg)
Buchanan: With High-Speed Trading, Market Cannot Hold (Bloomberg)
China to Subsidize Sales of Building Materials (China Daily)
Bernanke Signals Pressure from Congress Wouldn’t Halt Additional Easing (Bloomberg)
Japan Needs More China, Korea Assets: Okubo (Bloomberg)

European highlights:

UK Services PMI 52.9 – higher than expected. Consensus 50.5. Previous 51.1.
UK Q2 GDP Revisions +0.1% q/q – lower than expected. Consensus +0.2% q/q. Previous +0.2% q/q.
Eurozone Services PMI 48.8 – lower than expected. Consensus 49.1. Previous 49.1.
Eurozone Composite PMI 49.1 – lower than expected. Consensus 49.2. Previous 49.2.
Eurozone Retail Sales -0.3% m/m -1.0% y/y – lower than expected. Consensus -0.3% m/m -0.7% y/y. Previous 0.2% m/m -0.2% y/y.

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Wed, 10/05/2011 - 07:32 | 1740538 wang (not verified)

Merkel Says Euro Bonds no Endgame for EU Woes

(isn't there a word in German that means both yes and no? )

Wed, 10/05/2011 - 07:37 | 1740562 Mae Kadoodie

Meh.

Wed, 10/05/2011 - 09:50 | 1741069 eaglefalcon

"doch"

Wed, 10/05/2011 - 07:35 | 1740558 PrintButtonMoney

*gold bug thoughts enhance electric conductivity in brain*

nope, still not enough

However It is slightly irritating that the Ben Bernankster (or The Banskter), just told us, via our 'representatives' that he's going to continue to do everything he can to grind our dollar (amidst other things) into the ground.

And Currency war with China.

'European Downgrades' seems so.... care-salesman-ish doesn't it?

I know that was used earlier, but damn...

One world currency inc, IMO...

Clean Blood?

Stem Cells?

mmhm.

*gets rid of as many FRNs as possible*

http://printbuttonmoney.blogspot.com

Wed, 10/05/2011 - 07:43 | 1740577 lapedochild

Being a novice trader, my hunch would have been based on these headlines, that the European markets would be down, mildly to high

Wed, 10/05/2011 - 07:49 | 1740595 RoadKill

Baby perma bull woke up and found Mama bear and Papa bear's faces had been ripped off.

It's ok baby bear. Go cry to your imaginary friend mr Gold Bug.

Prob end the day up 3% on major indicted as algos complete a MASTERFUL bear raid.

Selling a bit into the rally. Will exit longs at high 1,100s. Will keep the puts I sold.

Where is that idiot that paid me $0.75 to buy FAS off him at $4???

Doesn't matter if FAS actually goes to 4 or not. THATS NOT HOW YOU PRICE RISK. I could take the $$ he paid me and buy FAZ and end up with a no risk profit!!!

Wed, 10/05/2011 - 07:58 | 1740614 msmith

The EURUSD, USDCAD, and the TNX are showing more corrective price action likely ahead. http://bit.ly/nhJwYz

Wed, 10/05/2011 - 08:22 | 1740659 msmith

S&P 500 corrective price action should turn back down soon. http://bit.ly/nhJwYz

Wed, 10/12/2011 - 11:59 | 1766024 karmete

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Frontrunning: October 5

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