Apple

Tyler Durden's picture

Frontrunning: December 24





  • Global Currency Tensions Rise (WSJ) - in other words, when everyone eases to infinity, nobody eases
  • EU to give Spain, France more time to cut deficit (Reuters) - But not because their economies are not "recovering" fast enough, oh no.
  • As we expected, Grupo Bimbo considering a bid for Hostess' snack cakes and bread brands (NY Post)
  • Time for bus-control: Eleven children killed in latest Chinese bus crash (Reuters)
  • Greece Should Write Off Billions of Overdue Taxes, Report Says (BBG) - not all taxes in perpetuity?
  • India clamps down on gang-rape protests, PM appeals for calm (Reuters)
  • But Meredith Whitney said... Push for Cheaper Credit Hits Wall (WSJ)
  • For Greece, last major austerity package, says eurozone official (Kathimerini)...  "unless there is another one"
  • Americans Miss $200 Billion Abandoning Stocks (BBG) ... and two flash crashes... and $15 trillion in artificial central bank props
  • Goldman Sachs Takes Long View Over Payouts (FT)
  • Cliff Would Strike Low Incomes Hard (WSJ)
  • Afghan policewoman kills US police adviser (AP)
  • For Sale in Japan: Electronics Assets (WSJ)
 
Tyler Durden's picture

2012 Year In Review - Free Markets, Rule of Law, And Other Urban Legends





Presenting Dave Collum's now ubiquitous and all-encompassing annual review of markets and much, much more. From Baptists, Bankers, and Bootleggers to Capitalism, Corporate Debt, Government Corruption, and the Constitution, Dave provides a one-stop-shop summary of everything relevant this year (and how it will affect next year and beyond).

 
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Frontrunning: Mayan Apocalypse Edition





  • This is signal, the rest is noise: Russia's Putin set for stand-off with EU on Syria, energy (Reuters)
  • Boehner's Budget 'Plan B' Collapses (WSJ)
  • Boehner has few options in "fiscal cliff" mess (Reuters)
  • Maya "end of days" fever reaches climax in Mexico (Reuters)
  • Monti Praised by Merkel Favored Less by Taxed Italians (BusinessWeek)
  • China probes Yum Brands' KFC over safety of chicken productsa (Reuters)
  • Looting in Aregentina: 400 Border Guard officials deployed to Bariloche over looting (BAH)
  • Regulatory 'Whale' Hunt Advances - Comptroller Expected to Take Formal Action Regarding JPM's Trading Fiasco (WSJ) - but no punishment
  • U.K. Banks Seen Sacrificing Lending to Meet BOE Demand (Bloomberg)
  • US banks face rise in bad loans cover (FT)
  • Daily Gun Slaughter in U.S. Obscured by Newtown Rampage (BBG)
  • China Restricts Bond Sales by Risker Companies (BBG)
 
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China: "Rebound Is Based On Stimulus, Not Real Strength"





Confirming what we all know, here is Bloomberg's "most improved for 2012" (in our humble opinion) commentator, Michael McDonough, on China: "Fiscal stimulus has bought China’s new leadership time to pass critical reforms to spur domestic consumption and rebalance the economy, though there is little room for error. Central banks from U.S. to Japan, through unprecedented levels of quantitative easing, are influencing global markets more than ever. Concerns have arisen over China’s manufacturing sector losing competitiveness; companies including Apple and General Electric have moved some manufacturing lines back to the U.S." The Bloomberg Brief note continues: "Growth in China, which is currently being supported by government fiscal stimulus targeting infrastructure investment, will probably remain between 7.5 and 8 percent. This will buy time for the new leadership to continue with reforms, including interest-rate liberalization, designed to help stoke final demand in China and properly rebalance the nation’s economy."

 
Tyler Durden's picture

Frontrunning: December 20





  • IMF Demands Partial Default for Cyprus (Spiegel)
  • Boehner's 'Plan B' Gets Pushback (WSJ)
  • Beijing criticises US ‘political checks’ (FT)
  • White House Said to Tell Business Groups Talks Stall (BBG)
  • NYSE tries to get hitched again: IntercontinentalExchange in talks to buy NYSE (Reuters) -> N-Ice coming?
  • Greece faces ‘make or break’ year (FT)
  • Fed rejects idea of consensus forecasts, "maybe forever": Fisher (Reuters)
  • Rajoy Drives Spanish Revolution With Low-Cost Manufacture (BBG)
  • Italian Senate Set for Budget Vote Before Monti Resigns (BBG)
  • BOJ Loosens With Pledge to Review Inflation Objectives (BBG)
  • Bowing To Abe, BOJ To Review Price Goal (WSJ)
 
CrownThomas's picture

What Happens When "Financial Journalists" Give Guidance?





"Microsoft in 2000 was an unsustainable bubble, whereas Apple today looks much more solidly valued" - Felix Salmon 9/17/12

 
AVFMS's picture

19 Dec 2012 – “ Oh Come All Ye Faithful ” (Twisted Sister, 2006)





Would be easy to call this boring, given the state of the market and volumes, but undercover Risk On definitively there. Greek 10s over the moon and far away (up 500 ticks)… Strong EUR. Seems a little easy, but who wants to fight? It’s Yule Time – at least until Friday, then we’ll see what the Mayans really meant.

"Oh Come All Ye Faithful" (Bunds 1,42% +0; Spain 5,25% -4; Stoxx 2658 +0,4%; EUR 1,326 +40)

 
Tyler Durden's picture

Frontrunning: December 19





  • Republicans put squeeze on Obama in "fiscal cliff" talks (Reuters)
  • Inquiry harshly criticizes State Department over Benghazi attack (Reuters)
  • Banks See Biggest Returns Since ’03 as Employees Suffer (BBG)
  • Italy president urges election be held on time (Reuters)
  • Bank of England Says Sterling Hurting Economy (WSJ) - there's an app for that, it's called a Goldman BOE chairman
  • China slowdown hits Indonesian farmers (FT)
  • China dispute hits Japanese exports (FT)
  • Market to get even more monopolized by the HFT king: Getco wins Knight with $2 bln sweetened offer (Reuters)
  • MF Global Cases Focus on 'Letters' (WSJ)
  • UBS fined $1.5 billion in growing Libor scandal (Reuters)
  • Spotlight swings to interdealer brokers (FT)
  • China Widens Access to Capital Markets (WSJ)
  • With Instagram, Facebook Spars With Twitter (WSJ)
 
AVFMS's picture

18 Dec 2012 – “ I Saw Mommy Kissing Santa Claus ” (John Mellencamp, 1987)





Another boring session, worsened by year end inactivity… Good close. Fiscal Cliff haggling on-going with a positive spin this time and Risk riding high.Spain catching up and paring yesterday’s soft patch, as is Italy. ESToxx at the highest since Aug 2011. Credit very squeezed. EUR strong. Merry Mood!

"I Saw Mommy Kissing Santa Claus " (Bunds 1,42% +5; Spain 5,29% -12; Stoxx 2647 +0,7%; EUR 1,322 +50)

 
Tyler Durden's picture

Frontrunning: December 18





  • Obama Concessions Signal Potential Bipartisan Budget Deal (BBG)
  • Cerberus to sell gunmaker after massacre (CNN)
  • With New Offers, Fiscal-Cliff Talks Narrow (WSJ)
  • Judge rejects Apple injunction bid vs. Samsung (Reuters)
  • U.S. policy gridlock holding back economy? Maybe not (Reuters)
  • President fears for Italy’s credibility (FT)
  • Struggles Mount for Greeks as Economy Faces Winter (WSJ)
  • Abe leans on BoJ in post-election meeting (FT)
  • Bank of Japan to mull 2 percent inflation target as Abe turns up heat (Reuters)
  • EU exit is ‘imaginable’, says Cameron (FT)
  • Mortgage Risk Under Fire in Nordics as Bubbles Fought (BBG)
  • Sweden cuts interest rates to 1% (FT)
  • External risks impede China recovery, more easing seen (Reuters)
 
AVFMS's picture

17 Dec 2012 – “Jingle Bell Rock ” (Billy Idol, 2006)





Utterly boring Monday session, worsened by year-end inactivity… Won’t get any better going forward, probably. Fiscal Cliff a cliff-hanger (I know, cheap)… Spain on the heavier side with contingent funding holes still popping up here and there.

"Jingle Bell Rock" (Bunds 1,37% +2; Spain 5,41% +4; Stoxx 2628 unch; EUR 1,317 +30)

 
Tyler Durden's picture

Frontrunning: December 17





  • New Calls for Gun Limits (WSJ)
  • Funerals begin for Newtown victims as schools confront tragedy (Reuters)
  • Introducing The Stock Trader of the Future (WSJ)
  • Feds knocking on 72 Cummings Ave door any minute now? SAC E-Mails Show Steve Cohen Consulted on Key Dell Trade (BBG)
  • China Signals Tolerance of Slower Growth After Meeting (BBG)
  • Huge mandate for Japan's LDP may be less than meets the eye (Reuters)
  • UBS Said to Face $1.6 Billion Libor Penalty This Week (BBG) - shareholders pay, and nobody goest to jail
  • Treasury Plan Would Cut Rates on Some Mortgages in Bonds (BBG)
  • Egypt opposition calls for protests against basic law (Reuters)
  • Euro Crisis Will Linger, Merkel Tells Summit (WSJ)
  • Economic slowdown throughout euro zone a worry for ECB: Liikanen (Reuters)
 
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Samuelson: "Frank Knight Thought Keynes Was The Devil" And Other Insights





In the fall of 1996, John Cassidy arranged to interview Paul Samuelson in his office at M.I.T. for an article he was writing on the state of economics. He began by asking Samuelson whether he was still a Keynesian: "I call myself a post-Keynesian," Samuelson replied. "The 1936 Model A Keynesianism is passé..." He recalled attending an event that was held in Cambridge, England, in 1986 to mark the one-hundred-and-fiftieth anniversary of Keynes's birth. "Everybody was there. And they all stood up and said, 'I am still a faithful Keynesian. I am still a true believer.' I was a bit rude. I said, 'You remind me of a bunch of Nazis saying, I’m still a good Nazi.' It’s not a theology: it’s a mode of analysis. I think I am a different Keynesian than I was ten years ago."

 
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