Frontrunning: October 18

  • Federal Reserve urged to act on economy (FT)
  • Weil: Foreclosure Fiasco’s Trail Leads to Washington (Bloomberg)
  • Few Ready For Currency War (JAD)
  • ECB's Trichet Rejects Weber's Call to End Bond Purchase Program (Bloomberg)
  • Banks Face Mortgage Scrutiny as $49 Billion in Value Vanishes (Bloomberg)
  • Homeowners in Limbo - Mortgage Mess Means Delays for Those Facing Foreclosure (WSJ)
  • BOE Will Expand Stimulus by 100 Billion Pounds, CEBR Predicts (Bloomberg)
  • The Recklessness of Quantitative Easing (Hussman)
  • Why a Foreclosure Moratorium Is a Bad Idea (WSJ)
  • Fast Yuan Rise Will Be Short-Lived (Reuters)
  • Investors Bet Fed Action Will Bring Inflation (FT)
  • Hedge Funds Succumbing to Mutual Funds’ Mediocrity (Bloomberg)
  • Germany Bows to Call for Political Sway Over Euro Sanctions (Bloomberg)
  • Income Inequality: Too Big to Ignore (NYT)
  • U.K. Readies Cuts in Defense Outlays (WSJ)
  • Goldman Pushes Its Image Rehab (WSJ)
  • Benny & the debt - Bernanke could be replaying '70s tune (Post)
  • Tudor seeks shale gas deals (FT)
  • Facebook in Privacy Breach - Top-Ranked Applications Transmit Personal IDs, a Journal Investigation Finds (WSJ)
  • Obama seeks to rekindle enthusiasm of 2008 campaign (Reuters)
  • Data theft overtakes physical losses (FT)
  • Northeast Utilities to buy NSTAR for $9.5 billion (Reuters)
  • Investors eye FX wars and budget cuts (Reuters)
  • Business-Jet Rebound Delayed by Economy, Honeywell Says (Bloomberg)
  • Krugman Misleads On Government Spending, Economic Growth (Weekly Standard)
  • More sound and fury from Krugman - Rare and Foolish (NYT)

Economic data:

  • Japan Nationwide Dept. Sales -5.2% y/y. Previous -3.2% y/y.
  • Japan Tokyo Dept.Store Sales -3.8% y/y. Previous -3.4% y/y.
  • Italy Current Account (mlns euro) for August 5044M. Previous 535M.
  • UK Rightmove House Prices 3.1% m/m 2.9% y/y. Previous -1.1% m/m 2.6% y/y.


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