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Frontrunning: September 2

Submitted by Tyler Durden on 09/02/2011 07:48 -0400

White House sharply cuts U.S. growth forecast (Reuters)
U.S. judge pans rush in BofA $8.5 billion mortgage pact (Reuters)
Italy cobbles together austerity compromise (FT)
Fed asks BofA to list contingency plan: report (Reuters)
Germany backs calls to widen IMF currency basket (FT)
Fresh Scrutiny of BofA (WSJ)
U.K. Warns Scotland on Costs of a Split (WSJ)
U.S. Is Set to Sue a Dozen Big Banks Over Mortgages (NYT)
US Deficit forecast falls below estimates (FT)
Jun Azumi Named Japan Finance Chief (Bloomberg)
In Africa, U.S. Watches China's Rise (WSJ)
California’s Revenue Anticipation Notes Win Highest S&P Rating in 4 Years (Bloomberg)

European economic update:

Euro-Zone PPI 0.5% m/m 6.1% y/y – in line with expectations. Consensus 0.5% m/m 6.1% y/y. Previous 0.0% m/m 5.9% y/y.
UK PMI Construction for August52.6 - lower than expected. Consensus 53.2. Previous 53.5.
Norway Unemployment Rate for August 2.7%-lower than expected.Consensus 2.8%. Previous 2.8%.

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Fri, 09/02/2011 - 07:51 | 1625533 Irish66

CDS SPREADS?

Fri, 09/02/2011 - 07:56 | 1625547 Hunch Trader

"forecast to fall substantially below previous estimates"

So they took a wild ass guess and call it somehow reliable? When all their previous forecasts have been shown to be total bull, just like all other US govt & economy statistics later revised upwards?

Fri, 09/02/2011 - 07:59 | 1625556 Minoan

www.capital.gr/gmessages/showTopic.asp?id=2423343

Ex Argentina's minister of finance Domingo Cavallo,visited Athens to meet Greek minister Venizelos.

Cavallo handled Argentina's bankruptcy in 2001.

Fri, 09/02/2011 - 08:20 | 1625601 Highrev

Not on the "docket" anywhere you look in the English press.

Would it be something positive that no-one wants to see?

http://politica.elpais.com/politica/2011/09/01/actualidad/1314908434_185525.html

Translation: a balanced budget constitutional amendment in Spain . . .

Fri, 09/02/2011 - 08:39 | 1625676 snowball777

Inigo: I hate waiting. I could give you my word as a Spaniard!

Dread Pirate Roberts: No good. I've known too many Spaniards.
Inigo: Is there no way you'll trust me?

Dread Pirate Roberts: Nothing comes to mind.

Fri, 09/02/2011 - 10:38 | 1626413 Highrev

Simplistic thinking based on outdated stereotypes will get you where? What? When? How?

I'm a bear alum too; so I know you can answer that. ;-)

Fri, 09/02/2011 - 08:23 | 1625607 Snidley Whipsnae

"Fed asks BofA to list contingency plan: report"

...and BofA is going for it, throwing out of their own end zone on 4th and 37... What could possibly go worng?

Fri, 09/02/2011 - 08:59 | 1625844 Zedge Hero

This week on the World Revolution News that is geared against the United Banking Cartel is the Chile Protest that is gathering momentum...

http://www.youtube.com/user/zedgehero

Fri, 09/02/2011 - 12:12 | 1626819 unununium

Adding judge William Pauley to my "heroes" list.

Mon, 09/05/2011 - 08:45 | 1633814 shacai

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Frontrunning: September 2

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