Frontrunning: September 22

  • FTMFW: Europe Debt Crisis Is Over, Declares Spanish Leader (WSJ)... he also murmured that the ECB bailouts will continue until zombification penetration rates improve
  • Hilarious: We should clone the robo-trader rather than revile him (HFT)
  • Liberal Democrat Conference: 'Oil price could double in return to 1970s style shocks' (Telegraph)
  • Ally Financial legal issue with foreclosures may affect other mortgage companies (WaPo)
  • Moves to Weaken Yen Not Over, Says Kan (FT)
  • Sakakibara Says Yen to Hit Record Despite BOJ Sales (Bloomberg)
  • China Shouldn't Fear Floating Exchange Rate, Official Says (WSJ)
  • Recovery Evident Mainly to Statisticians (Barrons)
  • China Won't Let Yuan Rise Soon in Poll Signaling No. 1 Economy (Bloomberg)
  • BOE Signals Moving Closer to More Stimulus as Growth Slows (Bloomberg)
  • Basel III Rules Mustn't Be `Chipped Away,' BOE's Bailey Says (Bloomberg)
  • Obama Loses U.S. Investor in Global Poll With Approval Abroad (Bloomberg)
  • Fed's Concern Over Inflation Broadens Rationale for More Easing (Bloomberg)
  • The Long View of China’s Currency (NYT)

Economic Highlights:

  • Euro-Zone Industrial New Orders SA for July -2.4% m/m 11.2% y/y - lower than expected. Consensus -1.4% m/m 16.2% y/y. Previous 2.4% m/m 22.7% y/y.
  • Norway Unemployment rate (AKU) for July 3.3% - lower than expected. Consensus 3.5%. Previous 3.5%.
  • Norway Deposit Rates for September. Consensus 2.0%.Previous 2.0%.
  • UK Bank of England MPC 8-1 Vote to Maintain Rates for September
  • Australia Westpac Leading Index 0.4% m/m. Previous -0.1% m/m.
  • Japan Coincident Index CI for July 103.Previous 101.8.
  • Japan Leading Index CI for July 100.Previous 98.2.
  • Japan Machine Tool Orders for August 170% y/y.Previous 170% y/y.
  • Japan All Industry Activity Index 1.0% - in line with expectations. Consensus 1.0%. Previous 0.2%.
  • Japan Supermarket Sales -1.1% y/y. Previous -1.2% y/y.
  • Japan Convenience Store Sales 1.0% y/y. Previous 0.5% y/y.


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