Boeing

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Frontrunning: March 10





  • Pressure Is on Mario Draghi to Show ECB Has Tools to Boost Low Inflation (WSJ)
  • Euro dips as ECB sets sights on deeper negative rates (Reuters)
  • Ohio's 'dirty little secret': blue-collar Democrats for Trump (Reuters)
  • Irish Economy Expanded 7.8% in 2015, Fastest Pace Since 2000 (BBG)
  • Too Many Boats for Too Little Cargo Leaves Shippers High and Dry (BBG)
 
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Frontrunning: March 9





  • Angry White Males Propel Donald Trump—and Bernie Sanders (WSJ)
  • Trump Beats Back Attacks and Tightens Hold on Primary Race (BBG)
  • Fed Likely to Stand Pat on Rates, Keep Options Open for April or June (Hilsenrath)
  • Draghi Stimulus Fails in Stock Market as Swings Match 2008 (BBG)
  • Sabine Oil wins pipeline ruling in a blow to pipeline operators (Reuters)
 
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Frontrunning: March 4





  • Rivals rip Trump but promise support if he is the nominee (Reuters)
  • Employment gains seen accelerating in February (Reuters)
  • Brazil's Lula Targeted in Police Raid Into Corruption Scandal (BBG)
  • Economist: For The ECB, It's No Longer About Oil (BBG)
  • China's premier says economy faces greater difficulties in 2016 (Reuters)
  • Copper Stockpiles in China Surge to Record as Metal Flows East (BBG)
 
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The Curious Case Of "Strong" January Durable Goods: It Was All In The Seasonal Adjustment





According to a report by Mitsubishi UFJ's John Hermann, one of the most important, if volatile, series in the overall monthly update, that of commercial aircraft orders made absolutely no sense. As he notes, in January Boeing reported a 70% drop in actual aircraft unit orders (the same in dollar terms), and yet according to the Department of Commerce, the matched series of nondefense aircraft orders soared by 54% in January. How could this be? Simple: seasonal adjustments.

 
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Frontrunning: February 25





  • Europe shrugs off pre-G20 China stocks slump, sterling steadies (Reuters)
  • China Unveils Its Deliverables for G-20 -- And No Plaza Pact (BBG)
  • Foreign Money Could Be Slow to Enter China’s Bond Markets (WSJ)
  • China Urged to Stomach Much Higher Fiscal Deficit (WSJ)
  • Trump's Momentum Has Republicans in Congress Confused and Cowed (BBG)
 
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The Evil Empire Has The World In An Economic "Death Grip"





A decade ago John Perkins exposed the world to the ugly reality of Washington's "Economic Hit Men." Now he is back, exposing the fact that the evil empire has the world in the grip of a "death economy," concluding that "we need a revolution" in order "to bury the death economy and birth the life economy." But, as Paul Craig Roberts adds, don’t look to politicians, neoliberal economists, and presstitutes for any help.

 
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Global Stocks Soar On Stimulus Hopes After Miserable Chinese, Japanese Data; Short Squeeze





"The Chinese market didn’t react as bad as we feared and with the weak export data there is some big hope that he central banks will react quite fast," John Plassard, senior equity-sales trader at Mirabaud Securities LLP in Geneva, told Bloomberg. "It’s a mix of hope of intervention from the Asian central bank, short squeeze and also a relief in some energy and banking sectors, the most shorted sectors." And there are your catalysts for today's surge: hope of more central bank intervention and a global short squeeze.

 
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Boeing Stock Nose-Dives On News Of SEC Probe





Just when you thought The BoJ would save the day with its miraculous intervention in carry trades, this happens:

*BOEING SAID TO FACE SEC PROBE OF DREAMLINER AND 747 ACCOUNTING

And just like that, Boeing's stocks crashes 10% dragging the major US equity markets with it. So, just as a reminder, this is a firm which the US government (via Ex-Im Bank) lends billions of US taxpayer dollars... and now the SEC is accusing them of fraud.

 
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Venezuela Prepares To Liquidate Its Remaining Gold Holdings To Pay Coming Debt Maturities





Venezuela's central bank has begun negotiations with the suddenly troubled Deutsche Bank to carry out gold swaps "to improve the liquidity of its foreign reserves as it faces heavy debt payments this year", payments which it won't be able to fund unless it manages to "liquify" its gold. "One of the sources said the central bank has taken an unspecified amount of gold out of the country so that it can be certified, which is required for gold that is used in such swaps."

 
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Hyperinflating Venezuela Used 36 Boeing 747 Cargo Planes To Deliver Its Worthless Bank Notes





Recently we joked that it is unclear just where Venezuela will find all the paper banknotes it needs for all its new currency.  And, as if on cue, the WSJ answered. As it turns out we were not the only ones wondering how the devastated "socialist paradise" gets its exponentially collapsing paper currency, which in just the past month has lost 17% of its value. The answer: 36 Boeing 747s.

 
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Boeing Stock Tumbles After Drop In Revenue, Cash Flow; Huge Cut To Guidance





But the biggest hit to Boeing was its slashed guidance, which came in far below consensus estimates: Boeing's 2016 Core EPS guidance of between $8.15 and $8.35 was far below the $9.42 expected; Boeing's 2016Revenue of $93-$95 billion was also well below the $97.3 billion expected.

 
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Futures Slide On Apple Disappointment, Oil Slumps Ahead Of Fed Decision





"Nobody is really sure where we go from here, and nobody is brave enough to make the call,” Peter Dixon, Commerzbank AG’s global equities economist in London told Bloomberg. “Corporate earnings season won’t provide much of a support - markets may find a floor if the Fed is extremely dovish tonight. At least investors will have time to think and reassess valuations."

 
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Frontrunning: January 22





  • Stocks, oil soar as Draghi the dove tames global bears (Reuters)
  • Massive snowstorm poised to wallop U.S. East Coast (Reuters)
  • Oil Rises in Biggest Rally Since August Amid Volatility Surge (BBG)
  • Nikkei spikes more than 900 points after rebounds overseas (Japan Times)
  • China's Working-Age Population Sees Biggest-Ever Decline  (WSJ)
  • Oil Is `Trade of the Year' for Citigroup After Iran Export Surge (BBG)
  • U.S. Payment of $1.7 Billion to Iran Raises Questions of Ransom (WSJ)
 
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Global Markets Slide, US Futures Wipe Out Overnight Gains In Volatile Session





European shares tumbled, wiping out gains from a two-day rally, Asian stocks slid and the cost of insuring corporate debt rose as investor concern over global growth prospects resurfaced. U.S. equity-index futures pared gains of as much as 0.9 percent. Government bonds rose, with yields falling to records in Japan and China amid anxiety over the world economy. U.S. crude prices stabilized after dropping below $30 a barrel on Tuesday to touch the lowest since 2003 as Iran moved closer to boosting exports.

 
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