Frontrunning: February 9

  • Two Fed Skeptics of Bond Purchases Say Inflation Underscores Stimulus Risk (Bloomberg)
  • 'Heavy Lifting’ Looms as China Rate Below Inflation (BusinessWeek)
  • Rothschild to take control of the weather next (EarthNews)
  • Underground world hints at China's coming crisis (Telegraph)
  • Wait A Minute--Why Should I Hate Bernie Madoff? (Forbes)
  • Egyptian Unrest Throws Deficit Goals Off Course as Yields Rise (BusinessWeek), all they need is Paulson pitching blank check TARP now
  • SEC to Wean Markets Off Credit Ratings (Reuters)
  • You don't say: Commodity prices could squeeze economy, just as in 2008 (Barrons)
  • And speaking of, did anyone even notice that Moody’s lowered Jordan's debt outlook (BusinessWeek)?
  • Asia Fights Inflation With Stronger Currencies  (WSJ)
  • Tricks but no miracles in recent jobs report (Post)
  • China's "hostile" audit raised Citi hackles: WikiLeaks (Reuters)
  • North-South Korea Military Talks Collapse (FT)
  • Berlin Counters Critics of Fiscal Plan (FT)
  • Cameron's Government Retreats on Bank Bonus-Cut Demands (Bloomberg), well duh, let's not forget who runs the world
  • Britain’s Experiment in Austerity (FT)
  • Reform Blueprint Gives G20 Authority Over IMF (FT)

European economic highlights:

  • Germany Exports SA for December 0.5% m/m - lower than expected.Consensus 1.0%. Previous 0.5%.
  • Germany Imports SA for December –2.3% m/m - lower than expected. Consensus 0.8%. Previous 4.1%.
  • Germany Current Account (EURO) for December 17.6B - higher than expected. Consensus 14.0B. Previous 12.9B.
  • Germany Trade Balance for December 11.9B - lower than expected. Consensus 12.0B. Previous 13.1B.
  • UK Visible Trade Balance GBP/Mn -£9249 - lower than expected. Consensus -£8600. Previous -£8460.
  • UK Trade Balance Non EU GBP/Mn -£5817 - lower than expected. Consensus -£4875. Previous –£4888.
  • UK Total Trade Balance (GBP/Mln) -£4831 - lower than expected. Consensus –£4000. Previous -£3947.



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