Frontrunning: January 13

  • Prices Soar on Crop Woes (WSJ)
  • S&P, Moody’s Warn on US Credit Rating (WSJ)
  • How Oil Affects the Price of Peas in China (FT)
  • The banks' ongoing accounting gimmick: JPMorgan Reserve `Bleeds' Distort Record 2010 Earnings (Bloomberg)
  • Geithner Urges New Start for U.S.-China Relations (NYT)
  • Swiss Franc Slumps After SNB Says Currency Threatens Growth (Bloomberg)
  • U.S. Foreclosure Filings May Jump 20% This Year as Crisis Peaks (Bloomberg)... or not
  • South Korea raised rates unexpectedly from 2.5% to 2.75% (BBC)
  • World Bank Shocker: China To Drive Asian Growth (AP)
  • Brisbane Wakes to Devastation, Death as Flood Peaks (Bloomberg)
  • Portugal Shouldn't Be Forced Into Rescue, Germany's Hoyer Says (Bloomberg)
  • Goldman Should Withdraw Greek Euro Swap Dodge (Bloomberg)
  • EU's New Drive to Contain Euro Debt Fire May Still Fall Short (Bloomberg)
  • Germany Backs Wider Rescue Fund Role (FT)
  • BOE Holds Stimulus as Cameron's Spending Squeeze Looms (Bloomberg)
  • 2010 Home Foreclosures Top 1 Million For First Time (Reuters)
  • Manhattan Apartment Leasing Triples, Rent Concessions Decline (Bloomberg)

European Economic Highlights

  • France CPI - EU Harmonised for December 0.5% m/m 2.0% y/y - higher than expected.Consensus 0.2% m/m 2.0% y/y. Previous 0.1% m/m 1.8% y/y.
  • France Consumer Price Index for December 0.5% m/m 1.8% y/y - higher than expected. Consensus 0.4% m/m 1.7% y/y.
  • Sweden CPI - Headline Rate for December 0.7%m/m 2.3% y/y - lower than expected.Consensus 0.8%m/m 2.4% y/y. Previous 0.3% m/m 1.8% y/y.
  • UK Industrial Production for November 0.4%m/m 3.3% y/y - lower than expected.m/m Consensus 0.5% m/m 3.3% y/y. Previous -0.1% m/m 3.5% y/y.
  • UK Manufacturing Production for November 0.6% m/m 5.6% y/y - higher than expected.Consensus 0.4% m/m 5.3% y/y. Previous 0.6% m/m 5.8% y/y.


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