Monday is Memorial Day in the USA, markets are closed. Today’s schedule is light, and there will be no ZGR, but if I have time I will post key economic releases.
|02:00||EUR||German GDP (YoY)||-1.4%||-1.4%|
|02:00||EUR||German GDP (QoQ)||0.1%||0.1%|
|02:00||EUR||GfK German Consumer Climate||6.2||6.2|
|02:45||EUR||French Business Survey||89||88|
|03:00||EUR||Spanish PPI (YoY)||0.9%||0.5%|
|04:00||EUR||German Business Expectations||101.6||101.6|
|04:00||EUR||German Current Assessment||107.2||107.2|
|04:00||EUR||German Ifo Business Climate Index||104.5||104.4|
|04:00||EUR||Italian Consumer Confidence||86.8||86.3|
|04:30||GBP||BBA Mortgage Approvals||32.7K||31.2K|
|07:30||INR||Indian FX Reserves, USD||293.69B|
|08:30||USD||Core Durable Goods Orders (MoM)||0.5%||-2.9%|
|08:30||USD||Durable Goods Orders (MoM)||1.5%||-6.9%|
|09:00||MXN||Mexican Unemployment Rate||4.7%||4.5%|
|09:30||BRL||Brazilian Bank lending (MoM)||1.80%|
|10:30||USD||ECRI Weekly Annualized (WoW)||7.00%|
-Dueling $1 Tln dollar student loan bills in Congress. Republicans in house want ARM tied to 10 year UST rate plus adder. Democrats want Bernanke to print the money and hand it to the Dept of Education at near the Discount window rate.
-EC PMI Manufacturing 47.8 vs. 47.0 (Exp.) 46.7 (Prev.)
-German May PMI Manufacturing 49.0 vs. 48.5 (Exp.) 48.1 (Prev.)
-CHINA MAY HSBC FLASH MANUFACTURING PMI: 49.6 V 50.4E
-Nikkei 225 Falls 7.3 % as BOJ forced to Intervene in JGB market to stop rout
Lew actually got it back in the green for a bit. A long day waiting around for a ‘fail’ by the PPT although there was a brief moment this morning where markets looked like they might correct in a natural manner. These people are not gods. Today’s market is more reflective of Obama’s political trouble and his support from the Windsors-Rothschilds empire and protecting their agent in the White House , as the intervention was so obvious and heavy handed this morning by the PPT, aka the ESF.
For sure the London people want the markets propped up for Smirkel, but they would be better served by ‘allowing’ markets to correct here, then rallying into her election. Of course the wheels are coming off the wagon again in Europe , China has so many problems it is hard to list them all- central planning never works-, and the USE sure appears to be DOA wrt to jobs and ‘real’ growth despite Bernanke throwing the kitchen sink at the banks and Congress and their ‘green jobs’ and forever war and terrorism jobs. The QE ‘insanity’ broke in Europe today, but the nutters are still running the tape in the USA. Europe has gotten nothing for the ECBs’ $2.5 Trillion balance sheet, and the USA got nothing but a lot of fat happy bankers all to glad to increase the risk to garner more money for themselves. If you watched the Blankfein interviews on BBN-TV today you know what I am talking about.
No one said Shorting was ever easy work anymore than trying to hang onto your gold. Unfortunately Dimon being ensconced in power by this tiny London shareholders group despite behavior that at the least was a breech of fiduciary responsibility to depositors , shareholders and the tax payers that hold the bag for his vile behavior of rigging markets, well that does not bode well for markets. It is London’s market and you’re in it, and it is all one big fraud upon the American people. They will prop the markets up I suspect until they cant anymore, the same thing with gold, it will be kept down until they can’t anymore. The lack of revenue growth and EPS growth this quarter has been breath taking. The markets won’t ignore that forever.
HP got multiple upgrades last night and the stock was the star today and is up near 14 %.
Three senior executives at SAC Capital , including the firm’s president and chief compliance officer, received subpoenas as part of the government’s insider-trading investigation, according to people familiar with the matter.The executives are considered part of the inner circle for SAC founder Steven A. Cohen, who also received a subpoena in recent weeks.
Goldman Sachs Group Inc. shareholders re-elected all twelve directors at the annual meeting in Salt Lake City, Utah today (GS has an office there). Shareholders also approved the firm’s executive compensation plan with 86% of the vote and the stock incentive plan with 68% of the vote. All the resolutions of reform by shareholders opposed by the firm were defeated.
The extraordinary evil Republican house passed a bill to tie the $1 tln student loand rates to UST 10 year rates like an ARM mortgage, sure to ruin many people. Obama has threaten to veto it. The Democrats have a bill that actually forces the FED to print the money for the student loans, and limits interest rates to the discount window rate plus some small adder. If ever the Republican party wanted to alienate itself from the middle and working classes it surely did today. Elizabeth Warren is sponsor of the bill that forces Bernanke to hand cash out to someone beside the NYC ,London and European banksters and the govts thereof. The Dept of Education would manage the $1 Tln Bernanke would be forced to print and collect the 3/4 pct rate plus the adder under Warren’s bill which has fairly broad support in the Senate on the Democrat side of the aisle. I can’t believe what an utter bankers whore Boehner is. Of course these bills get no publicity by the Media least the student slaves of the bankers rally to force the FED to be a servant of the people rather than the evil servant of the English empire and its Zionist bankers.
Have a great weekend.
Americas’ Economic Release Summary
(US) Initial Jobless Claims: 340K v 345Ke; Continuing Claims: 2.912M v 3.000Me
(US) May Preliminary Markit US PMI Manufacturing: v 51.4e
(US) Mar House Price Index M/M: 1.3% v 0.8%e; Q/Q: 2.0% v 1.5% prior
(US) Apr New Home Sales M/M: 454K v 425Ke
(US) Weekly EIA Natural Gas Inventories: +89 bcf v +86 to +91 bcf expected range
(MX) Mexico Q1 GDP (Current $) Y/Y: 3.0% v 4.2%e
(BR) Brazil Apr Unemployment Rate: 5.8% v 5.6%e
Late EU releases
(EU) Euro Zone May Advanced Consumer Confidence: -21.9 v -21.8e
(RU) Russia Gold & Forex Reserve w/e May 17th: $512.4B v $520.4B prior
1:17 p.m. EDT 05/23/13Major Stock Indexes
Hard to believe they are trying to prop the markets up. Lew is such a thug and crook.
- U.S. home prices rose a seasonally adjusted 1.3% in March, and prices grew 6.7% in the first quarter from the same period of 2012, theFederal Housing Finance Agency said Thursday. Compared to the fourth quarter, prices rose 1.9%, the seventh straight quarterly rise. “The housing market has stabilized in many areas and homebuilding activity has strengthened in recent quarters,” said FHFA Principal Economist Andrew Leventis. “That said, labor market weakness and still-elevated foreclosure pipelines remain hindrances to a more robust recovery.” The index tracks purchases of homes whose mortgages were bought or guaranteed by Fannie Mae or Freddie Mac. MW
-May U.S. flash manufacturing PMI falls to 51.9
- Sales of new U.S. homes edged up in April to the second-highest post-recession level, as pent-up demand, low interest rates and tight inventories of older homes lift demand. New home sales reached a seasonally adjusted annual rate of 454,000, up 2.3% from an upwardly revised level of 444,000 in March, the Commerce Department said Thursday. Economists polled by MarketWatch expected an improvement to 430,000 from an initially reported 417,000. April’s gain represents a 29% improvement from the same period of 2012. Median prices jumped 15% year-on-year to $271,600, a record level. At the end of April, there were 155,000 new homes for sale, the Commerce Department estimates, representing 4 months of supply at current sales rates.
-USA Initial jobless claims dropped by 23,000 to a seasonally adjusted 340,000 in the week ended May 18, the Labor Dept reported today.
-For the quarter ended April 28, Hormel reported a profit of $125.5 million, or 46 cents a share, down from $127.9 million, or 48 cents a share, a year earlier. Sales grew 6.9% to $2.15 billion as volume was up 4%.Analysts polled by Thomson Reuters most recently forecast per-share earnings of 49 cents on revenue of $2.19 billion.Gross margin narrowed to 16.4% from 16.7%, as input costs rose 7.3%. Also selling, general and administrative costs were up 16%.At the refrigerated-foods business, its largest contributor to revenue, sales fell 2% and operating profit grew 3.2%.Jennie-O Turkey Store sales declined 1.6% while operating profit was down 26% amid higher grain costs and weaker commodity turkey prices.Grocery-products sales, which include Skippy, rose 49% and profit grew 10%.Shares of the company, which backed its full-year outlook, closed Wednesday at $42.40 and were inactive premarket. The stock is up 36% so far this year. MW
European markets, overbought and rigged higher by the ESM/ECB/GS/HSBC were classically pumped and dumped. The correction has begun. London and Frankfurt did the dirty work, China and the USA will get the blame. Bernanke is a complete London puppet. The typical set of horrid PMI numbers and retail sales numbers out of Italy we have seen as of late in the EU. Commodity shares were hit as copper took a beating on the China data.
ECB’s Praet said ECB could expand range of tools used if needed to fight deflation. FED Bullard said EU recession dragging on.
Spain PM Rajoy said 1% inflation rate was a good thing for the Spain economy; not getting pressure from Germany about rescuing additional banks; Reiterated that Spain does not need more aid to rescue its banks.
London blames ‘small investors’ for the Japan Crash to deflect attention away from bloody hands there as Bernanke followed his script. I was watching the trading. Futures lead cash market down. And big futures. Was that ‘small’ investors or just the boys in London at HSBC/GS taking profits ahead of the PMIs they knew in advance and using the FED as an excuse. Small investors were merely stopped out or in Japan small investors use margin and they got calls or were liquidated by their brokers. Europeans actually think we believe their bs. Leave it to London to lie to cover up their handiwork. The Roubini pump and dump. His hedge fund is out of London.
Unlike the rout of two years ago, which was led by institutional investors fearing a nuclear meltdown, brokers said that Thursday’s dash for the exits was led by retail – or smaller – investors.Over the past few weeks, individual investors’ share of trading had risen steadily, to a record 35% cent last week. Brokers say their share was almost certainly higher over the past few days, judging by huge volumes in popular stocks such as Fast Retailing, owner of Uniqlo, and Mitsubishi Motors.While retail investors were taking the opportunity to bag some profits, brokers report that many institutions remained on the sidelines, trimming positions rather than dumping them altogether. FT
British regulators fined JPMorgan Chase £3.1 million ($4.7 million) on Thursday for failings in its wealth management division.Two of Britain’s largest banks, Royal Bank of Scotland and the Lloyds Banking Group, outlined plans to increase their capital reserves.Dealbook
EU Economic Release Summary
(EU) Euro Zone May Advanced PMI Manufacturing: 47.8 v 47.0e; PMI Services: 47.5 v 47.2e; PMI Composite: 47.7 v 47.2e
(EU) ECB: €406.0M borrowed in overnight loan facility vs. €206M prior; €84.5B parked in deposit facility vs. €81.8B prior
(DE) Germany May Advanced PMI Manufacturing: 49.0 v 48.5e; PMI Services: 49.8 v 50.0e
(DE) Germany Mar Real Construction Orders nsa -9.2% y/y; YTD: -4.8% y/y
(FR) France May Preliminary PMI Manufacturing: 45.5 v 44.7e (9-month high); PMI Services: 44.3 v 44.5e
(IT) Italy Mar Retail Sales M/M: -0.3% v -0.1%e; Y/Y: -3.0% v -4.8% prior
(DK) Denmark Apr Retail Sales M/M: -0.4 v -0.7% prior; Y/Y: -1.5% v -4.4% prior
(UK) Q1 Preliminary GDP Q/Q: 0.3% v 0.3%e; Y/Y: 0.6% v 0.6%e
(UK) Q1 Preliminary Private Consumption: 0.1% v 0.3%e; Government Spending: 0.0% v 0.2%e; Gross Fixed Capital Formation: -0.5% v +0.3%e; Exports: -0.8% v -1.0%e; Imports: -0.5% v -0.9%e
(UK) Q1 Preliminary Total Business Investment Q/Q: -0.4% v -0.8% prior; Y/Y: 0.7% v 0.8% prior
(UK) Mar Index of Services M/M: 0.2% v 0.1%e; 3M/3M: 0.6% v 0.6%e
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50||2788.14||-54.44||-1.92|
|Stoxx Europe 600||304.27||-6.32||-2.03|
|Euro Stoxx 50||2771.61||-63.40||-2.24|
|Austria: ATX Index||2439.39||-55.48||-2.22|
|Denmark: OMX Copenhagen 20||544.78||-9.07||-1.64|
|Estonia: OMX Tallinn||803.79||-9.68||-1.19|
|Finland: OMX Helsinki||6301.74||-185.23||-2.86|
|France: CAC 40||3960.18||-90.93||-2.24|
|Greece: Athex Composite Share Price||1053.99||-26.66||-2.47|
|Greece: DJ Greece TSM||769.54||-24.57||-3.09|
|Greece: FTSE/ATHEX 20||357.18||-10.62||-2.89|
|Iceland: OMX Iceland All-Share||756.95||-3.48||-0.46|
|Ireland: ISEQ Overall||4020.30||-48.42||-1.19|
|Italy: FTSE MIB||17126.55||-418.91||-2.39|
|Latvia: OMX Riga||409.14||-1.68||-0.41|
|Lithuania: OMX Vilnius||391.74||-1.88||-0.48|
|Norway: OSE All-Share||529.38||-7.93||-1.48|
|Portugal: PSI 20||5937.15||-104.67||-1.73|
|Russia: DJ Russia Titans||6317.66||-151.16||-2.34|
|Spain: IBEX 35||8318.10||-144.30||-1.71|
|Sweden: OMX Stockholm||382.07||-10.24||-2.61|
|Switzerland: Swiss Market||8169.95||-237.66||-2.83|
|UK: FTSE 100||6710.14||-130.13||-1.90|
|UK: FTSE 250||14482.47||-341.67||-2.30|
|UK: FTSE AIM All-Share||723.35||-9.74||-1.33|
-FED’s Bullard : U.S. Should Continue With Current QE Programme, And Adjust Rate Of Purchases Based On Incoming Data.; Sees Limits To Neg. Deposit Rates; Believes Possible Effects To Be Minor(TV)
-627 EU Credit Markets
Eurogroup chief Dijsselbloem reiterated view that Greece to receive more debt relief if targets met; bank recap possible if conditions met through ESM. Barroso commented that Cyprus remained firmly anchored in EMU. Cyprus Pres Anastadsiades: Cyprus to keep delivering on commitments.
ECB Nowotony: Sees certain bond market normalization , calming down of spreads; can’t rule out inflation once economy recovers (yeah, he sees it as ECB/ESM are directing it). Must expect negative GDP in 2013.
Money Maven IMF’s Christian Lagarde under investigation for prior abuses of office in Paris France. Arrives for questioning over involvement with Bernard Tapie in embezzlement. Typical French elite Crony (rothschilds) capitalism.
Germany CDU official Kauder reiterated ECB should not print money.Rainer Brüderle leader of FDP says German influence on the ECB Council should be increased
Bank of Finland Deputy Gov Hakkarainen: Negative effects of low interest rates are significant. Iceland to delay consideration of joining EU until the country holds a referendum.
Ireland’s Kenny: Expects an exit from troika programme by the end of 2013.
Moody’s comments on Hungary’s banking sector that retail NPL to rise further due to economy and currency. Moody’s noted that non-performing loans at 18% at end-March (re was credit negative for the country.
DT-AEP: A sharp rise in the US dollar could weigh on emerging market debt; noted the US dollar rose sharply and Latin American debt was sold off when former Fed chair Volcker tightened policy during the early 1980s.
German 10y 1.37-0.02, 1.25%
Italy 10y 3.95+0.08, -1.96%
Spain 10y 4.24+0.07, -1.69%
U.K. 10y 1.88-0.031, .80%
(ES) Spain Debt Agency (Tesoro) to sell combined €3.0-4.0B in 2016, 2018 and 2026 Bono Bonds
Sells € in 3.3% April 2016 Bono; Avg Yield % v 2.247% prior; Bid-to-cover: TBD v 2.34x prior; Max Yield % v 2.268% prior ; Tail: bps v 2.1bps
Sells € in Jan 4.5% 2018 Bono Bond; Avg Yield % v 2.789% prior; Bid-to-cover: TBD v 2.24x prior; Maximum Yield % v 2.807% prior; Tail: bps v 1.8bps prior
Sells € in 5.9% Jul 2026 Bono; Avg Yield % v 4.336% prior; Bid-to-cover:TBD v 1.62x prior; Max Yield: % v 4.354% prior; Tail: bps v 1.8bps prior
(SE) Sweden sold SEK1.0B vs. SEK1.0B indicated in 0.5% I/L 2017 Bonds; Yield: -0.0472% v +0.0910% prior
(HU) Hungary Debt Agency (AKK) sold HUF45.0B vs. HUF45B indicated in 12-Month Bills; Avg Yield: 4.00% v 3.96% prior; Bid-to-cover: 1.54x v 1.80x prior
-Asia Closing Prices
Japan Econmin Amari commented that the Govt was carefully watching stock market movements and added that weak China PMI data was the trigger for profit taking in Nikkei. Govt to work on growth strategy and fiscal consolidation. Suga commented that Govt was closely watching movements in financial markets; that BOJ was responding appropriately to longer-term yields and did not think recent market moves could hamper Abenomics, and no change in govt economic policy. Japan Deputy Finmin Yamaguchi commented that Govt was watching stock market closely. Govt is committed to compiling fiscal discipline framework.
China Ministry of Finance (MOF): China to study new policies to support Small and Medium Enterprises (SME) development China National Development and Reform Commission (NDRC): China will not adjust fuel prices for current cycle.
(SG) Singapore Apr Industrial Production M/M: 2.5% v 0.5%e; Y/Y: 4.7% v 1.6%e
(SG) Singapore Apr CPI M/M: -1.5% v -0.1%e; Y/Y: 1.5% v 3.0%e
(JP) Bank of Japan (BOJ) May Monthly Economic Report: Raises economic assessment (5th straight month)
(TH) Thailand Apr Customs Trade Balance: -$2.9B v -$3.0Be; Customs Exports Y/Y: 10.5% v 5.3%e; Customs Imports Y/Y: 8.9% v 5.3%e
(TW) Taiwan Apr Industrial Production Y/Y: -0.9% v -0.5%e; Commercial Sales Y/Y: 1.0% v 1.3%e
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1414.18||-47.81||-3.27|
|Australia: All Ordinaries*||5040.80||-101.30||-1.97|
|China: DJ CBN China 600*||21736.07||-273.43||-1.24|
|China: DJ Shanghai*||294.74||-3.84||-1.29|
|China: Shanghai Composite*||2275.67||-26.74||-1.16|
|China: Shenzhen Composite*||1014.47||-6.93||-0.68|
|China: Shanghai 50*||1823.74||-34.46||-1.85|
|Hong Kong: Hang Seng*||22669.68||-591.40||-2.54|
|India: BSE Sensex*||19690.38||-371.86||-1.85|
|India: S&P CNX Nifty*||5967.05||-127.45||-2.09|
|Indonesia: JSX Index*||5121.40||-86.60||-1.66|
|Indonesia: JSX BISNIS 27*||429.23||-7.83||-1.79|
|Indonesia: JSX Islamic*||694.79||-13.31||-1.88|
|Indonesia: JSX LQ-45*||864.87||-15.30||-1.74|
|Japan: DJ Japan TSM*||740.04||-54.24||-6.83|
|Japan: Nikkei 225*||14564.30||-1062.96||-6.80|
|Japan: TOPIX Index*||1188.34||-87.69||-6.87|
|Malaysia: DJ Malaysia TSM*||3377.95||-29.26||-0.86|
|Malaysia: FTSE Bursa Malaysia KLCI*||1773.06||-10.82||-0.61|
|New Zealand: NZX 50*||4588.59||-21.59||-0.47|
|S. Korea: KOSPI*||1969.19||-24.64||-1.24|
|S. Korea: KOSPI 50*||1677.30||-21.74||-1.28|
|S. Korea: KOSPI 100*||1943.34||-26.34||-1.34|
|S. Korea: KOSPI 200 Composite*||256.66||-3.53||-1.36|
|Singapore: FTSE Straits Times*||3393.17||-61.20||-1.77|
-401 Italian Retail Sales SA (MoM)(Mar.) -0.30% vs. -0.10% (Exp.) -0.20% (Prev.)
Italian Retail Sales (YoY)(Mar.) -3.00% vs. -4.80% (Prev.)
-0400 EC PMI Manufacturing 47.8 vs. 47.0 (Exp.) 46.7 (Prev.)
EC PMI Services 47.5 vs. 47.2 (Exp.) 47.0 (Prev.)
EC PMI Composite 47.7 vs. 47.2.0 (Exp.) 46.9 (Prev.)
-Eurozone decisions on direct bank recap and debt relief for Greece imminent, says Dijsellbloem- EK
-Syrian violence spreading to Lebanon. Mortar bombs, RPGs and machine guns were used in clashes. At least 5 killed, 50 wounded last night
.-DIHK: Expects the German economy to expand 0.3% from 0.7% in 2013, export growth to slow down to 2%; Predicts German econ. growth above 1% next year.
-Take that Regling and Frankel
-0330 German PMI Manufacturing 49.0 vs. 48.5 (Exp.) 48.1 (Prev.)
German PMI Services 49.8 vs. 50.0 (Exp.) 49.6 (Prev.)
Sharp reductions in German manufacturing prices: data showed fastest fall in input and output prices since Jul ’09 and Jan ’10-Markit
-Panic in Europe ahead of Germany Flash PMI
Stoxx 600305-6, – 1.80%
CAC 403,974-77, -1.90%
FTSE MIB17,117-430, -2.45%
IBEX 358,284-178, -2.11%
FTSE 1006,736-105, -1.54%
-The Shanghai Composite Index lost 1.16 % to end at 2,275.67 while the Shenzhen Component Index was down 1.48 % to end at 9,265.68.
-An ECB rat emerges!!
ECB’s Noyer: Additional Measures Are Currently Being Considered To Reduce Fragmentation In The EMU
-The Nikkei Stock Average which had jumped 2% earlier on Thursday, ended the day 7.3% lower in a spectacular turnaround and finished at 14,483.98. The drop is the Nikkei’s worst single-day loss since March 15, 2011. The benchmark’s closing level was nearly 1,460 points from the day’s peak.
-France May Flash Mfg PMI 45.5 vs forecast of 44.7; Services PMI 44.3 vs forecast of 44.5
-0305 Europe Opens
I covered some of the shorts I put on yesterday in the DAX , but it is PMI night in Europe. It could get worse.
Stoxx Europe 600 index opens down 1.2% at 306.81
Germany’s DAX 30 index 1.9% lower at 8,360.55
France’s CAC 40 index opens 2.1% lower at 3,964.29
U.K.’s FTSE 100 index opens 1.7% lower at 6,726.04
Asian markets are broadly and sharply lower on the FED and China’s May PMI.
FED Chairman Bernanke struck a less dovish tone during his Q/A session than during his Congressional testimony. Bernanke noted some tapering of the QE could begin over the next few meetings if labor market improvement supports such retreat. Later in the day, FOMC meeting minutes from the May 1st meeting also underscored a growing rift within the FED – some committee members hinted they would be open to a reduction in bond purchases at June meeting if there was evidence of strong and sustained growth, and one member called for an immediate decrease in the rate of QE3 asset purchase program.The USD hit multi-month highs against the AUD, NZD, and CAD commodity currencies as well as fresh highs against JPY above ¥103.70 after the meeting.
HSBC flash manufacturing PMI for China the month of May inflicted major damage on the wildly bullish sentiment, unexpectedly registering its first contraction in 7 months to 49.6 ,while the new export order component fell to an 8-month low of 49.5. Adding to the woes China is evaluating the effectiveness of the property tightening measures and will decide in due time whether to adjust the tightening policy the state-run China Securities Journal reported Thursday on its front page. The real estate tax, currently being implemented in Shanghai and Chongqing, could be implemented in a few other cities this year, the paper added. Subsequently July crude dropped below $94/brl, July copper fell 2% below $3.31, and AUD/USD extended its losses to an 11 month low. A company advisor to Chinese telecommunications equipment giant Huawei denied accusations that the company has received government subsidies or dumped products in EU countries.”Huawei’s products may have a price advantage, but it was gained via technological innovation, rather than through subsidies or dumping,” company advisor Tian Tao was quoted as saying in Thursday’s 21st Century Economic Report. Huawei’s rejection of EU charges came after the EU proposed opening an anti-dumping and anti-subsidy investigation into mobile telecommunications equipment from China last week.
The BOJ moved to contain volatility in the JGB market, announcing a Y2T fund supplying operation after the 10-year yield moved to a multi-month high level above the 1%, this hammered the Y/D back to the 101 handle where I added to my short Yen position. Japan Chief Cabinet Sec Suga said BOJ will respond as needed to long-term bond rates; natural for long-term rates to raise temporarily as shares prices gain; he expected the economy to gradually recover.
In South Korea KDI(top economic NGO in Korea) Cuts 2013 GDP to 2.6% from 3.0% in Nov; Sees 2013 inflation at 1.8% . South Korea Fin Min Hyun said the global economy is yet to be in full speed recovery; monetary policy increasingly requires international cooperation; impact of Yen drop is much stronger than KRW drop.
Down under Former Reserve Bank of Australia (RBA) board member McKibbin said more rate cuts by the RBA would be a mistake; appetite for A$ assets is waning – financial press . Australia’s Opposition Resources Minister MacFarlane: If victorious in the September elections, opposition would end the mining tax (MRRT) by Jul 2014 Australia Treasurer Swan said domestic economy is going through transition; high AUD is challenging for economy, not only the auto industry are impacted by high AUD. Earlier Ford motor company announced due to labor costs it would not longer manufacture vehicles in Australia. TM said it would continue operations, for now.
(CN) CHINA MAY HSBC FLASH MANUFACTURING PMI: 49.6 V 50.4E (first contraction in 7 months)
(JP) Japan investors sold net Y804.4B in Foreign Bonds last week (first sale in 4 weeks) vs bought net Y186.6B prior week; Foreign Investors bought net Y716B in Japan stocks last week vs bought net Y878.8B in prior week
(SG) SINGAPORE Q1 FINAL GDP Q/Q: +1.8% V -1.2%E; Y/Y: +0.2% V -0.6%E
(KR) SOUTH KOREA APR DISCOUNT STORE SALES Y/Y: -9.8% V -4.4% PRIOR; DEPT STORE SALES Y/Y: -1.9% V 7.5% PRIOR
(AU) AUSTRALIA MAY CONSUMER INFLATION EXPECTATION: 2.3% V 2.2% PRIOR
SLV: iShares Silver Trust ETF daily holdings fall to 10,023 tons from 10,198 tons (lowest since 9,895 tons in Dec, 2012)
GLD: SPDR Gold Trust ETF daily holdings fall by 3.0 tons to 1,020.1 ton (lowest since 1,008.8 tons in Feb of 2009)
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1409.92||-52.07||-3.56|
|Australia: All Ordinaries*||5040.80||-101.30||-1.97|
|China: DJ CBN China 600||21733.01||-276.49||-1.26|
|China: DJ Shanghai||294.75||-3.83||-1.28|
|China: Shanghai Composite||2284.49||-17.91||-0.78|
|China: Shenzhen Composite||1017.81||-3.59||-0.35|
|China: Shanghai 50||1833.63||-24.57||-1.32|
|Hong Kong: Hang Seng||22687.98||-573.10||-2.46|
|India: BSE Sensex||19742.59||-319.65||-1.59|
|India: S&P CNX Nifty||5985.35||-109.15||-1.79|
|Indonesia: JSX Index||5159.66||-48.33||-0.93|
|Indonesia: JSX BISNIS 27||432.80||-4.26||-0.97|
|Indonesia: JSX Islamic||700.66||-7.44||-1.05|
|Indonesia: JSX LQ-45||870.87||-9.31||-1.06|
|Japan: DJ Japan TSM*||739.97||-54.31||-6.84|
|Japan: Nikkei 225*||14564.30||-1062.96||-6.80|
|Japan: TOPIX Index*||1188.34||-87.69||-6.87|
|Malaysia: DJ Malaysia TSM||3374.10||-33.11||-0.97|
|Malaysia: FTSE Bursa Malaysia KLCI||1779.62||-4.26||-0.24|
|New Zealand: NZX 50*||4588.59||-21.59||-0.47|
|S. Korea: KOSPI*||1969.19||-24.64||-1.24|
|S. Korea: KOSPI 50*||1677.30||-21.74||-1.28|
|S. Korea: KOSPI 100*||1943.34||-26.34||-1.34|
|S. Korea: KOSPI 200 Composite*||256.66||-3.53||-1.36|
|Singapore: FTSE Straits Times||3387.08||-67.29||-1.95|
|US Cotton No.2||83.83||+0.39||+0.46%|
|US Coffee C||128.80||-3.92||-2.96%|
Japan 10yr 0.83-0.07, 7.28%
-After Hours, Early Asia Reports
TM: Australia unit exec: To maintain local operations; Environment in Australia is very difficult – financial press
Kawasaki Heavy: To shift some of its production of motorcycles from Thailand back to Japan due to weaker JPY and improved export margins – Nikkei News
Mitsubishi Motors To use capital base and reserves to cover its ¥925B parent-only losses for FY12/13; May resume dividend payouts in FY13/14 – Nikkei News
Fuji Heavy : Subaru may reach medium-term target for US vehicle sales two years ahead of schedue due to high demand of its SUV model – Nikkei News
Containership operations of Japan’s top 3 shippers to turn a profit for the first time in 3 years – Nikkei News
Lenovo Reports FY12/13 Net $635.1M v $475.4M y/y, Rev $33.9B v $29.6B y/y
Samsung Electronics : Sales of Galaxy S4 smartphones have topped 10M units 20 days faster than for the S3 device
F: To close its Broadmeadows vehicle facility and Geelong engine plant in Australia in 2016; End local car production; To cut 1200 jobs
HPQ: Reports Q2 $0.87 v $0.81e, R$27.6B v $28.0Be; +13.9% afterhours
Most all of H-P’s businesses saw sales declines in the recent quarter. The exception was the printing business, where sales of printer supplies rose 2% to $4.1 billion.For the total business, H-P reported a fiscal second-quarter profit of $1.08 billion, or 55 cents a share, compared with a profit of $1.59 billion, or 80 cents a share, for the year-earlier period.Revenue fell to $27.58 billion from $30.69 billion. Adjusted profit was 87 cents a share.Analysts polled by FactSet on average were expecting the Palo Alto, Calif.-based company to report an adjusted profit of 81 cents a share, on revenue of $28.02 billion. For the current quarter, H-P said it expects adjusted profit in the range of 84 cents to 87 cents a share. For the full year, the company expects adjusted earnings of $3.50 to $3.60 a share.Analysts were expecting a fiscal third-quarter profit of 83 cents a share. For the full year, they were expecting H-P to report a profit of $3.44 a share.H-P cut its total costs and expenses for the quarter by 9% to $25.6 billion. However, Whitman pointed to uncertainty in the global economy, saying, “The economy in Europe continues to be a challenge. China appears to be slowing down as well.”
TRP: US House of Reps passes the Keystone pipeline project by a vote of 241-175
LTD: Reports Q1 $0.48 v $0.46e, R$2.27B v $2.25Be
Islam Takes to the Streets in the UK and Seeks Justice for War Criminal In a most Gruesome Manner
-IDF iCommander Major General said Wednesday that S-300 advanced missile defense system will soon land in the hands of the Syrian army.Speaking at a convention in Herzliya, Eshel added “there is a clear understanding that such capabilities will produce confidence and aggressive behavior.”
Holder/Clapper Subpoenaed over Clandestine and Capricious ‘No -fly’ List
Attorney General Eric Holder and Director of National Intelligence James Clapper have been subpoenaed to give depositions this week in a lawsuit over the “no-fly list,” which bars individuals identified by the U.S. government from flying to, from or within the country.
The Justice Department is asking a federal judge to quash the subpoenas, which are related to the officials’ claim of state secrets privilege in the case.
The lawsuit is being brought by Rahinah Ibrahim, a Malaysian woman and former Stanford student who sued in 2006 for allegedly being placed on the “no-fly list” which led to her being barred from a flight home and briefly detained at the San Francisco a year earlier.
In March, Holder and Clapper filed personally signed declarations in the case invoking the state secrets privilege over classified information Ibrahim sought about whether she was the subject of investigation and about a terror database. The officials claimed disclosing the information could threaten ongoing investigations.
In a letter filed Friday with U.S. District Judge William Alsup in San Francisco, the Justice Department said Ibrahim’s lawyers indicated they were subpoenaing Holder and Clapper to test their knowledge of the information over which they claimed the privilege, but Justice said neither has such personal knowledge and their only involvement was to assert the state secrets claim.
Justice argued that Ibrahim must show “exceptional circumstances” to depose high-ranking officials such as the AG and DNI, and the request does not reach that burden.
In a response to the government filed on Tuesday (posted here), Ibrahim’s lawyers accused the government of trying to “have its cake and eat it too” by claiming personal knowledge for the purpose of the state secrets privilege, then denying it for the depositions.
“Either these officials have the personal knowledge they claim in their declarations and made the determinations required by the law, or they do not and did not. Plaintiff, who has borne the burden of years of litigation, must know which one so she can test the privilege assertion,” Ibrahim’s attorney writes.
Attorneys want to question the officials regarding their privilege claim about which documents they reviewed, whom they spoke to, steps they took, the source of information the relied upon and “their factual knowledge, if any, supporting any assertion that Ms. Ibrahim is a threat to the United States,” they said.
U.S. District Court Judge William Alsup has already issued a partial defeat to Holder and Clapper in the state secrets claim, rejecting it in respect to some of the documents in question.
The depositions were scheduled to take place this Friday, but Ibrahim’s lawyers said they would agree to dates that accommodate Holder and Clapper’s schedule.
14 Ye are the light of the world. A city that is set on an hill cannot be hid.
15 Neither do men light a candle, and put it under a bushel, but on a candlestick; and it giveth light unto all that are in the house.
16 Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven.
|01:00||JPY||BoJ Monthly Report|
|01:00||SGD||Singaporean Industrial Production (YoY)||4.7%||1.1%||-3.8%|
|03:00||EUR||French Manufacturing PMI||44.8||44.4|
|03:00||EUR||French Services PMI||44.5||44.3|
|03:30||EUR||German Manufacturing PMI||48.5||48.1|
|03:30||EUR||German Services PMI||50.0||49.6|
|04:00||EUR||Italian Retail Sales (MoM)||0.3%||-0.2%|
|04:30||GBP||Business Investment (QoQ)||1.7%||-0.8%|
|04:30||GBP||Index of Services||0.7%||0.1%|
|04:40||EUR||Spanish 3-Year Bonos Auction||2.268%|
|04:40||EUR||Spanish 5-Year Bonos Auction||2.807%|
|06:05||USD||FOMC Member Bullard Speaks|
|08:00||BRL||Brazilian Unemployment Rate||5.6%||5.7%|
|08:30||USD||Continuing Jobless Claims||3,000K||3,009K|
|08:30||USD||Initial Jobless Claims||345K||360K|
|09:00||ZAR||South African Interest Rate Decision||5.00%||5.00%|
|09:00||USD||House Price Index (MoM)||0.9%||0.7%|
|09:45||USD||Bloomberg Consumer Confidence||-30.2|
|10:00||USD||New Home Sales||425K||417K|
|10:30||USD||Natural Gas Storage||91B||99B|
|11:00||USD||KC Fed Manufacturing||-5.00||-5.00|
|15:30||EUR||ECB President Draghi Speaks|
|22:55||JPY||BoJ Governor Kuroda Speaks|
-Eurozone decisions on direct bank recap and debt relief for Greece imminent, says Dijsellbloem- EK
-IMF chief Christine Lagarde questioned in Paris over alleged abuse of office during time as finance minister http://bbc.in/187gNH8
-Europe Pushes to Shed Stigma of a Tax Haven http://nyti.ms/14TFxht
-Copper peaks to six-week high on supply concerns due to Grasberg suspension: $7,525/ton
-Gold rises on Bernanke Testimony then smashed , equity markets rally, then tank on FOMC
-Bernanke must read Earnings report- Pedal to the Metal!
-FED heads ratched down rhetoric on QE Taper ahead of Bernanke testimony
-Spanish banks caught rolling bad loans, and in fraud
-Portugal using Social Security funds to Mask Debt
-GS/JPM/HSBC Gut Dodd-Frank Swap Regulation
-Senate Panel Approves illegal Immigration bill granting 10s of million illegal free citizenship (actually it costs the USA taxpayers around $45k per family).
-China wants more crack downs on private (shadow) banking system and gray/black currency markets. Bernanke Inflation export to China is causing major panic in the govt due to property price rises as China is too slow to let Yuan appreciate.
-BOJ Holds, updates economic assesment
-IRS Official who heads up tax exempt division decides to Plead the 5 th Amendment in testimony before Congress today
USA markets were flat at the opening, then up on Bernanke’s dog and pony show to Congress, then sold off on the FOMC minutes as the FOMC was seen as uncertain and divided, then the PPT pushed it back up into the close. Gold was bashed from its 1400 rise largely by Nomura on BOJ/MOF greenlights. The Japanese indeed all the Asian nations have virtual full employment, trade surpluses , positive equity in homes, massive savings, so for the Japanese to pump the dollar and tout the USE today as in better healthy , especially in light of Lowes, Target, and small business Staples supplier earnings reports was particularly cruel. The USA needs balanced trade and use tariffs to do it. The Japanese are literally getting away with murder(suicides are way up) and using QE to make Toyota number 1, keep factories in Japan with this QE and the BOJ has pretty much lied as they don’t want 2 % inflation as all their complaints of JGBs today showed. Japan’s debt is so large a 4 % 10 year would kill it. American blood is going to pay for that new Toyota mega factory in Japan and it should be located in the USA where they sell their cars to, specifically CA or Nevada.
I don’t think there is much need to recap what Bernanke said as he resorted the FED game of saying the QE taper is only a few months off in the Q/A market to manage gold/ commodity prices. As former FED vice Chair Alan Blinder said, the last job of the FED is to tell the public the truth. The FED should be depolticized by nationalizing all the regional heads, having them approved by Congress, the lower house, in regional voting, then implementing Taylor’s rule and required to keep and publish M3 and limit it to the real GDP growth and allowing gold, silver and copper money to trade along side the FED paper. Jack Lew trying to shut down Iranian gold imports shows you how important gold is to the LBMA and London.
It is hard to describe how bad the Target and Staples reports are in light of a real 5% inflation rate. Certainly if the FED and congress are not reading those they are out of touch. Still plenty of complaints to Bernanke from Democrats and Republicans alike on how weak the USE is and how ineffective his policies are. Of course by design, they are designed to increase the power of the banks over the real economy. Bart Chilton as much admitted the FED was not going to reign in bank prop trading and JPM/GS/HSBC, etc had gutted the Swaps legislation so they could manipulate it to bankrupt their marks like JPM bankrupted LEH and AIG.
In Europe I felt particularly good selling more DAX short on the close. Rajoy was forced to drop his pretenses today as El Mundo revealed Spain’s dirty dark secrets. The crisis is back on. Even with the ESM we may start the correction tomorrow in the DAX unless the ESM further buys down the Spanish 10 year. And that game is only causing an inflationary recession in Spain as its youth leave for Latin American or to work for the Germans.
Clearly they did not reach a comprehensive tax agreement in Europe, although Juncker probably has enough Mossad dirt to force the Swiss to yield to the Zio-Nazi’s will as he indicated today.
Right now Europe , short of energy is pursuing multiple strategies to kill the USE. The first is copying the Irish model of low corporate tax rates to attract USA factories like Intel and other business. The next strategy the Europeans have is to provide the tax havens for the USA firms to dodge taxes in and the legal incentives to do so, from the Caymans to Dublin to Vienna to Cyprus (as until as of late). After that knowing they are energy short and can’t compete in technology or energy or even mfg with the USA and as England is running out of energy Europe is trying to impose Carbon taxes so they can use alternative energy and compete with Clean Coal and LNG and the Europeans have their boy Obama killing LNG and Coal in the USA, and exporting to Japan cheap LNG for buying UST and England is next up in the Cheap USA Lng conga line. Finally Europe is resorting to direct sabotage of USA industries like Boeing and requiring American taxpayer funded research be given to England and Europe and jobs located there as the new GOOG mega-research center in the UK shows. The English are literally technologically illiterate and this will serve to rehone English technology by direct transfer from the USA.
Europe is conspiring with Communist China to kill the American people, enslave its own, and rip the USA off before a non-EU stooge gets in power. All under the direction of the Windsor-Rothschilds ‘privy council’ and their Jewish and Anglo representatives on the Continent. I suppose all we can do is pray, boycott European and Chinese goods and buy local and bank at a non profit. It is up to we Americans to pull together, the Europeans are here to stab us in the back like they did with WW1 and WW2 and the Iraq war we are fighting or China and Europe’s oil and the Crown Opium trade and all the minerals German factories need in Afghanistan. The average European is a complete idiot. Ony a few million watch the UK show American Idol, Eurovision is watched by just about every EU household. As the German satanic mockery of Pentacost shows us, Europe is a dark and satanic place. Please pray for your kin there. Thanks.
MARKETS – AT A GLANCE
Here comes the PPT right on schedule. Always take short profits 1 hr before the close.
-Lying, IRS Jewess with Legal Impunity ?
The arrogance of the elite Jews is really something else since 911.
House Oversight and Government Reform Committee Chairman Darrell Issa said embattled IRS official Lois Lerner waived her Fifth Amendment rights and will be hauled back to appear before his panel again.The California Republican said Lerner’s Fifth Amendment right to avoid self-incrimination was voided when she gave an opening statement this morning denying any wrongdoing and professing pride in her government service.When I asked her her questions from the very beginning, I did so so she could assert her rights prior to any statement,” Issa told POLITICO. “She chose not to do so — so she waived.”Lerner triggered the IRS scandal on May 10 when she acknowledged that the agency wrongly targeted conservative groups applying for a tax exemption. Her lawyer told the House committee earlier this week that she would exercise her Fifth Amendment.She appeared before Issa’s committee this morning under the order of a subpoena and surprised many by reading a strong statement to the panel.“I have not done anything wrong,” she said. “I have not broken any laws. I have not violated any IRS rules or regulations, and I have not provided false information to this or any other committee.”Issa dismissed her from the committee room once it became clear she wouldn’t answer questions.
-Iran is making significant progress in expanding its nuclear programme, including in opening up a potential second route to developing the bomb, a new UN atomic agency report showed Wednesday.The International Atomic Energy Agency’s latest quarterly update said that Tehran has accelerated the installation of advanced uranium enrichment equipment at its central Natanz plant.It also outlined further progress at a reactor under construction at Arak, also in central Iran, which Western countries fear could provide Iran with plutonium if the fuel is reprocessed.One Western diplomat told AFP the report “will only increase the concerns about Iran.” AFP
-Pesticide sales are doubling. Why? Genetically-modified crops are losing resistance to bugs. WSJ
-USA Session Economic Release
Mexico’s March retail sales are very indicative of how weak the USE is. The majority of the savings of illegals gets sent back to Mexico for their families and even their social security checks that many collect through fraud go there if the person has an off the books job or a different social security number.
(US) Apr Existing Home Sales: 4.97 v 4.99Me
(US) DOE Crude: -340K v -1Me; Gasoline: +3.02M v -Me; Distillate: -1.05M v +1Me; Utilization: 87.3% v 88.2%
(BR) Brazil May IBGE CPI IPCA-15 M/M: 0.5% v 0.5%e; Y/Y: 6.5% v 6.5% prior
BR) Brazil Apr Current Account: -$7.2Be; Foreign Direct Investment (FDI): $5.0Be
(CA) Canada Mar Retail Sales M/M: 0.0% v 0.1%e; Retail Sales Less Autos M/M: -0.2% v +0.1%
(MX) Mexico Mar Retail Sales: -2.4% v +0.3%e
Late EU releases
(BE) Belgium May Consumer Confidence: -19 v -20 prior
(IE) Ireland Apr PPI M/M: 0.3% v 0.9% prior; Y/Y: 1.9% v 1.1% prior
(PT) Portugal Mar Current Account: +€270M v -€273.7M prior
(UK) May CBI Industrial Trends Total Orders: -20 v -17e; Selling Prices: 4 v 5e
(UK) MBA Mortgage Applications w/e May 17th: -9.8% v -7.3% prior
-As the ZGR mentioned, I wanted to jettison my long ahead of the FOMC minutes and reestablish my short. I did it as soon as the market started to tank in the Q/A when Bernanke took away what he Gave with one sentence. I suspect Nomura , the GS of Japan. knew this so I increased my Y short. Nomura is the GS of Japan. I suppose you have to have lived and worked in Japan to understand if they say 108 Y/D they are not kidding and they are the market execution arm for the BOJ/MOF. A tough day for me, as I had to keep my eyes on the screen my ears tuned to the FED and the Euroclowns and change my programs on the fly and get this blog out. The FED knows its minutes are read like the Jew Nero read the feces and entrails of horses. So keeping market off balance and money flowing into UST and propping the dollar up is Job number 1 after doing what London says. I will say this about this naive hispanic Congress woman Sanchez from CA, she went after Bernanke’s head ,a liberal democrat, in that all the housing was ending up in the Asian hands, hedge fund hands and her constituents had no jobs to buy houses with. Bernanke is a complete whore, he gets his directions from London and his entire job is to sacrifice the American people for the Anglo-Zionist banking order out of London. Bernanke gave her a look like ‘what a dope that is what Washington DC, London and NY are all about the money all flows to London’ and while she is new to Congress the Senate and Democrats were the force behind these labor gutting free trade agreements.
MARKETS – AT A GLANCE
-A number of Federal Reserve officials were willing to slow down the pace of the purchases as early as the June meeting if the data continued to improve, according to the minutes of the April 30-May 1 policy meeting released late today. Officials disagreed about what evidence would be needed to start tapering and the likelihood of that outcome.FED officials agreed that the labor market had improved since the FED launched its latest QE program last September. “Many” said that they wanted to see continued progress, more confidence in the outlook or diminished risks before agreeing to taper purchases, the summary of the meeting showed.In its statement, the FED changed the language to show that policy makers were prepared to increase or reduce the pace of its purchases. a “couple” of FED officials said the FED might have to ease more if inflation fell further.One Fed official wanted to stop the bond purchases immediately, while another wanted to increase the size of the program.
-Luxembourg’s Juncker: EU Will Demand Equivalent, Not Identical Rules From Switzerland
-*SPANISH BANKS NEED MORE CAPITAL – RAJOY
After his/banks accounting gambits were exposed by El Mundo
-Hollande wants a European economic governance council to meet once a month. Germany has pushed for an EU finmin
-Nomura in on Gold Bashing
With Bernanke’s testimony is (more or less) out of the way, Nomura thinks that as the event risk is largely behind us, it’s time to enter into fresh long USD/JPY position in cash.Nomura bought $10 million USD/JPY at 103, placing a protective stop at 100.50, targeting a ‘relatively quick move’ to 108.Nomura outlines 2 main reasons behind this call:First, Nomura thinks the strong rally in the Nikkei is increasingly supportive for USDJPY, due to hedging activity.”Two important FX flows generated by the recent Japanese equity rally are potentially important. The first is the FX hedging by foreign equity investors. The second is retail investment in foreign currency denominated Japanese equity toshins. Both forces are likely to weaken JPY further in the next 2-3 month,” Nomura clarifies.Second, Nomura thinks structural USD strength is likely in coming months.”With regard to the dollar: we are now structurally more bullish on USD, given that US growth looks structurally more robust, including on a relative basis. Linked to this, some of other major central banks, such as ECB, RBA, and BOJ, have been easing further recently,” Nomura adds.
they clearly don’t read US earning reports, or they are in the cabal big time and naked short gold.
-Merkel/Von Rompuy both denied EU corporate Tax harmonization was discussed.
-Syrian President Assad must hand over full executive powers to a proposed transitional government – French Foreign Minister Fabius
-FED Shill at WSJ
Federal Reserve Chairman Ben Bernanke made clear Wednesday in testimony to the Joint Economic Committee that the exit from the Fed’s $85 billion-a-month bond buying program will be much different than past Fed exits.
When the Fed ended a buying program in 2011, it shut it off all at once. When it shut off another bond buying program in 2009 and 2010, it did it in predetermined, predictable and “tapered” steps. When the Fed raised short-term interest rates from 2003 to 2006, it raised them in gradual and very predictable steps.
This time, when the Fed shuts off bond buying, it won’t be abrupt and it won’t be predictable. The term “tapering” — which implies a predictable gradual process — probably doesn’t describe the plan very well any more, and you’re unlikely to hear Fed officials describing it like that. Instead, the Fed will take a step and then see what happens. Officials also want to avoid the market blowup that happened in 1994, when it took one step and the market assumed that meant a succession of additional steps.
“A step to reduce the flow of purchases would not be an automatic, mechanistic process to end the program,” Mr. Bernanke said. In other words, if the Fed takes a step to reduce the program and the economy falters, it could sit still for a while or even dial purchases back up.
The Fed effectively wants the markets to experience the same uncertainty it experiences about policy and the economy when officials walk into a meeting, and it wants to condition the market to avoid jumping to conclusions about what it will do next. As officials keep saying, it will depend on the economy.
And on the key question of when it will start, Mr. Bernanke said the first step could be “in the next few meetings,” but that too will depend on how the economy performs.
11:45 a.m. EDT 05/22/13Major Stock Indexes
-Merkel: No ‘conditionality’. Ending banking secrecy set up as a wide-reaching one, extending to third-party countries.
-HVR: we have not discussed harmoniZation of corporate tax, not our issue for today, need unanimity for this
-Merkel: Today’s agreement on ending banking secrecy is a “giant leap forward” – banking secrecy blocked effective measures for too long.
Barroso: global energy landscape changing quickly and not in Europe’s favour, but we should not be resigned to that
principle of the automatic exchange of information at the EU level, frankly I would like this to be more precise, but progress made
-Merkel: It’s good that we tackled energy today, as there is so much difference in a market that is so important to Europe.
-Von Rompuy: crack down by end of June on Tax evaders ex states still in negotiation with.
Strategic energy intiative: energy efficiency. true single eu energy markets, diversify energy sources, investment via climate change taxes
shale gas could become part of the energy mix for some member states, up to each country to decide its own energy mix
-Live EU Press Conference
Stocks are stabilizingafter the skid following Bernanke’s comments on possible tapering in “next few meetings
-Bernanke: Asset prices are not inconsistent with fundamentals
-EU Summit Summary
EU leaders have stepped up their fight against tax evasionby multinationals and individuals, urging lawmakers to speed up efforts to close loopholes and improve cooperation between tax authorities. Meeting in Brussels Wednesday, the 27 leaders of the world's largesttrading bloc, threw their weight behind a plan by the European Commission tokill off by 2015 the most common methods used by multinational corporations to avoid taxes, through a coordinated revision of double taxation treaties thatwould insert clauses to prevent double non-taxation and double deductions. They also backed a call for the introduction of a general anti-abuse clausein all taxation treaties that would make it harder for corporations to avoidtaxes and said that work should continue on strengthening the Code of Conduct onbusiness taxation. The tax strategies of computer and internet companies, such as Apple,Google, Microsoft and Amazon, whose low tax bills recently have attractedcriticism, would be scrutinised specifically at another EU Summit in October, they vowed. The leaders also took aim at a widespread VAT fraud scheme, known as carrousel or missing trader fraud, in which criminals exploit the fact thatexporters can reclaim from governments the VAT on goods exported within the EU, to cheat governments of billions every year. About 12% of the total value of VATreceipts goes missing each year, according to Commission estimates. European governments should be able to adopt a reverse-charge mechanism, bythe end of June, they said. By the end of this year, EU lawmakers should start considering a revisionof taxation rules between parent companies and their subsidiaries and also adopt tougher anti-money laundering rules. In the fight against money laundering, clarity about the beneficialownership of companies, trusts and foundations is important, and internationalcooperation, including with the OECD, is central, the leaders stressed. "When there is a deficit to be reabsorbed . . . better to go and look forthose who conceal themselves, than to ask those who do pay taxes to pay more,"French President Francois Hollande said ahead of the meeting. "It's a principleat the same time of fairness and of good management. Those that don't pay taxes need to pay." Last week, EU finance ministers agreed to pursue negotiations withSwitzerland and other European tax havens, but failed to approve a broader scopeof information exchange among themselves because of objections by Luxembourg andAustria. Five EU countries, Germany, France, the UK, Italy and Spain, however, areworking on a comprehensive agreement on automatic information exchange between themselves. At the summit, EU leaders also discussed, energy policy, the first of aseries of big-picture issues to promote growth and employment. High energy costs have emerged as a major competitive disadvantage for theEU. While the continent has few significant resources of its own, rivals,particularly the US, have been benefiting from falling prices thanks to the exploitation of unconventional reserves such as shale gas. Gas prices forindustry in the EU are roughly four-times greater than in the US, EU officials estimate. To tackle this competitive disadvantage, European leaders stressed the needto intensify efforts at energy efficiency and to ensure that new infrastructure and rules are in place to allow gas and electricity to be freely traded across the EU by 2015. A "well-functioning" carbon market and consistent climate policy, which should encourage investment in renewable energy technologies, will remain a key element of Europe's energy strategy. The EU aims to produce as much as 20% of its energy needs from renewable sources by 2020 and is working on a strategy framework for 2030. Last week, EU finance ministers agreed to pursue negotiations withSwitzerland and other European tax havens, but failed to approve a broader scope of information exchange among themselves because of objections by Luxembourg and Austria. Europe should aim to agree on those rules by year end,they said.
-BERNANKE: dont see signs of inflation, low historically
Yeah that is why the Cartel slammed gold and silver, right Ben, the FED would not be trying to steer all that money you printed to the Banks, Bonds and Equity and short commodities, ex the long oil rig of London.
-Bizarro Murderers in USA
FBI says Tsarnaev’s friend Todashev was confessing to triple murder when he attacked FBI agent with knife. NBC News
-Bernanke: ‘Glass-Steagall” is not the solution (to bank risk)
-Gold/Silver rose as FED’s mope and rope a dope exposed, then Cartel slammed it back to the carpet
10:57 a.m. EDT 05/22/13Major Stock Indexes
-Bernanke: Fed will start tightening when unemployment falls to 6.5%
-953 EU Summit due to end soon, with obligatory press conference etc.
-Bernanke: ”We are supporting Japan’s policies” . No currency war (liar).
-Bernanke: Concerns About Interest-Rate Risk Has Increased ‘A Bit’.
-Bernanke: Monetary policy aimed at domestic economy, not impacting relative exchange rates are acceptable
-B6/B12/Folic Acid Prevent Onset of Alzheimers
A cheap regimen of vitamins in use for decades is seen by scientists as a way to delay the start of Alzheimer’s disease and dementia, a goal that prescription drugs have failed to achieve.Drugmakers including Bristol-Myers Squibb Co., Pfizer Inc. (PFE) and Eli Lilly & Co. (LLY) have spent billions of dollars on ineffective therapies in a so-far fruitless effort to come up with a treatment for dementia and Alzheimer’s.Now, in the latest of a steady drumbeat of research that suggests diet, exercise and socializing remain patients’ best hope, a study published today in the Proceedings of the National Academy of Sciences shows that vitamins B6 and B12 combined with folic acid slowed atrophy of gray matter in brain areas affected by Alzheimer’s disease.“You don’t have any other options for these patients, so why not try giving them this cocktail of B vitamins?” says Johan Lokk, a professor and head physician in the geriatric department atKarolinska University Hospital Huddinge in Sweden, who wasn’t involved in the study.Alzheimer’s disease and dementia mostly affect older people. As people live longer, the number afflicted by the conditions is growing. Delaying dementia with an inexpensive vitamin regimen may help stem the surge in cases, which the World Health Organization predicted would more than triple from 36 million worldwide in 2010 to 115 million in 2050, as well as the cost, estimated at $604 billion in 2010 by Alzheimer’s Disease International. BBN
-Stocks Rise on Bernanke Testimony-Bernanke more or less admits FED will just have to let assets just roll off balance sheet as they mature. Promises gentle raise in rates (yeah sure, look at the BOJ and panic they are in).
We more or less got the dump from Dudley in the premarkets that all the taper talk was rhetoric to alleviate stress on the LBMA/CME wrt to gold and that the FED would continue to ease. I covered some of my shorts at the opening in the DIA/SPY and went long. Looking to reestablish shorts before release of last Months FOMC meeting minutes. Earnings were dreadful this morning with declining sales after .5 Tln in QE Y/Y and 1 tln in deficts Y/Y. Bernanke and the Feds in DC/Congress are not getting much ‘traction’ from their war /police/bankster criminal state. FYI, the WSJ confirmed it was London who kept Dimon in place this morning. Looks like Rothschilds had the minimum number of shares to keep the British-Israel thug Dimon in place.
10:21 a.m. EDT 05/22/13Major Stock Indexes
-955 Link to Bernanke Testimony
Ha, ha, Brady is ripping Bernankes head off. Wants FED to exit now and implement Taylors rule
Chairman Bernanke’s testimony is out, and he is not eager to tighten policy anytime soon.
Chairman Ben S. Bernanke
The Economic Outlook
Before the Joint Economic Committee, U.S. Congress, Washington, D.C.
May 22, 2013
Chairman Brady, Vice Chair Klobuchar, and other members of the Committee, I appreciate this opportunity to discuss the economic outlook and economic policy.
Current Economic Conditions
Economic growth has continued at a moderate pace so far this year. Real gross domestic product (GDP) is estimated to have risen at an annual rate of 2-1/2 percent in the first quarter after increasing 1-3/4 percent during 2012. Economic growth in the first quarter was supported by continued expansion in demand by U.S. households and businesses, which more than offset the drag from declines in government spending, especially defense spending.
Conditions in the job market have shown some improvement recently. The unemployment rate, at 7.5 percent in April, has declined more than 1/2 percentage point since last summer. Moreover, gains in total nonfarm payroll employment have averaged more than 200,000 jobs per month over the past six months, compared with average monthly gains of less than 140,000 during the prior six months. In all, payroll employment has now expanded by about 6 million jobs since its low point, and the unemployment rate has fallen 2-1/2 percentage points since its peak.
Despite this improvement, the job market remains weak overall: The unemployment rate is still well above its longer-run normal level, rates of long-term unemployment are historically high, and the labor force participation rate has continued to move down. Moreover, nearly 8 million people are working part time even though they would prefer full-time work. High rates of unemployment and underemployment are extraordinarily costly: Not only do they impose hardships on the affected individuals and their families, they also damage the productive potential of the economy as a whole by eroding workers’ skills and–particularly relevant during this commencement season–by preventing many young people from gaining workplace skills and experience in the first place. The loss of output and earnings associated with high unemployment also reduces government revenues and increases spending on income-support programs, thereby leading to larger budget deficits and higher levels of public debt than would otherwise occur.
Consumer price inflation has been low. The price index for personal consumption expenditures rose only 1 percent over the 12 months ending in March, down from about 2-1/4 percent during the previous 12 months. This slow rate of inflation partly reflects recent declines in consumer energy prices, but price inflation for other consumer goods and services has also been subdued. Nevertheless, measures of longer-term inflation expectations have remained stable and continue to run in the narrow ranges seen over the past several years. Over the next few years, inflation appears likely to run at or below the 2 percent rate that the Federal Open Market Committee (FOMC) judges to be most consistent with the Federal Reserve’s statutory mandate to foster maximum employment and stable prices.
Over the nearly four years since the recovery began, the economy has been held back by a number of headwinds. Some of these headwinds have begun to dissipate recently, in part because of the Federal Reserve’s highly accommodative monetary policy. Notably, the housing market has strengthened over the past year, supported by low mortgage rates and improved sentiment on the part of potential buyers. Increased housing activity is fostering job creation in construction and related industries, such as real estate brokerage and home furnishings, while higher home prices are bolstering household finances, which helps support the growth of private consumption.
Severe fiscal and financial strains in Europe, by weighing on U.S. exports and financial markets, have also restrained U.S. economic growth over the past couple of years. However, since last summer, financial conditions in the euro area have improved somewhat, which should help mitigate the economic slowdown there while also reducing the headwinds faced by the U.S. economy. Also, credit conditions in the United States have eased for some types of loans, as bank capital and asset quality have strengthened.
Fiscal policy, at all levels of government, has been and continues to be an important determinant of the pace of economic growth. Federal fiscal policy, taking into account both discretionary actions and so-called automatic stabilizers, was, on net, quite expansionary during the recession and early in the recovery. However, a substantial part of this impetus was offset by spending cuts and tax increases by state and local governments, most of which are subject to balanced-budget requirements, and by subsequent fiscal tightening at the federal level. Notably, over the past four years, state and local governments have cut civilian government employment by roughly 700,000 jobs, and total government employment has fallen by more than 800,000 jobs over the same period. For comparison, over the four years following the trough of the 2001 recession, total government employment rose by more than 500,000 jobs.
Most recently, the strengthening economy has improved the budgetary outlooks of most state and local governments, leading them to reduce their pace of fiscal tightening. At the same time, though, fiscal policy at the federal level has become significantly more restrictive. In particular, the expiration of the payroll tax cut, the enactment of tax increases, the effects of the budget caps on discretionary spending, the onset of the sequestration, and the declines in defense spending for overseas military operations are expected, collectively, to exert a substantial drag on the economy this year. The Congressional Budget Office (CBO) estimates that the deficit reduction policies in current law will slow the pace of real GDP growth by about 1-1/2 percentage points during 2013, relative to what it would have been otherwise.1 In present circumstances, with short-term interest rates already close to zero, monetary policy does not have the capacity to fully offset an economic headwind of this magnitude.
Although near-term fiscal restraint has increased, much less has been done to address the federal government’s longer-term fiscal imbalances. Indeed, the CBO projects that, under current policies, the federal deficit and debt as a percentage of GDP will begin rising again in the latter part of this decade and move sharply upward thereafter, in large part reflecting the aging of our society and projected increases in health-care costs, along with mounting debt service payments. To promote economic growth and stability in the longer term, it will be essential for fiscal policymakers to put the federal budget on a sustainable long-run path. Importantly, the objectives of effectively addressing longer-term fiscal imbalances and of minimizing the near-term fiscal headwinds facing the economic recovery are not incompatible. To achieve both goals simultaneously, the Congress and the Administration could consider replacing some of the near-term fiscal restraint now in law with policies that reduce the federal deficit more gradually in the near term but more substantially in the longer run.
With unemployment well above normal levels and inflation subdued, fostering our congressionally mandated objectives of maximum employment and price stability requires a highly accommodative monetary policy. Normally, the Committee would provide policy accommodation by reducing its target for the federal funds rate, thus putting downward pressure on interest rates generally. However, the federal funds rate and other short-term money market rates have been close to zero since late 2008, so the Committee has had to use other policy tools.
The first of these alternative tools is “forward guidance” about the FOMC’s likely future target for the federal funds rate. Since December, the Committee’s postmeeting statement has indicated that its current target range for the federal funds rate, 0 to 1/4 percent, will be appropriate “at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored.” This guidance underscores the Committee’s intention to maintain highly accommodative monetary policy as long as needed to support continued progress toward maximum employment and price stability.
The second policy tool now in use is large-scale purchases of longer-term Treasury securities and agency mortgage-backed securities (MBS). These purchases put downward pressure on longer-term interest rates, including mortgage rates. For some months, the FOMC has been buying longer-term Treasury securities at a pace of $45 billion per month and agency MBS at a pace of $40 billion per month. The Committee has said that it will continue its securities purchases until the outlook for the labor market has improved substantially in a context of price stability. The Committee also has stated that in determining the size, pace, and composition of its asset purchases, it will take appropriate account of the likely efficacy and costs of such purchases as well as the extent of progress toward its economic objectives.
At its most recent meeting, the Committee made clear that it is prepared to increase or reduce the pace of its asset purchases to ensure that the stance of monetary policy remains appropriate as the outlook for the labor market or inflation changes. Accordingly, in considering whether a recalibration of the pace of its purchases is warranted, the Committee will continue to assess the degree of progress made toward its objectives in light of incoming information. The Committee also reiterated, consistent with its forward guidance regarding the federal funds rate, that it expects a highly accommodative stance of monetary policy to remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens.
In the current economic environment, monetary policy is providing significant benefits. Low real interest rates have helped support spending on durable goods, such as automobiles, and also contributed significantly to the recovery in housing sales, construction, and prices. Higher prices of houses and other assets, in turn, have increased household wealth and consumer confidence, spurring consumer spending and contributing to gains in production and employment. Importantly, accommodative monetary policy has also helped to offset incipient deflationary pressures and kept inflation from falling even further below the Committee’s 2 percent longer-run objective.
That said, the Committee is aware that a long period of low interest rates has costs and risks. For example, even as low interest rates have helped create jobs and supported the prices of homes and other assets, savers who rely on interest income from savings accounts or government bonds are receiving very low returns. Another cost, one that we take very seriously, is the possibility that very low interest rates, if maintained too long, could undermine financial stability. For example, investors or portfolio managers dissatisfied with low returns may “reach for yield” by taking on more credit risk, duration risk, or leverage. The Federal Reserve is working to address financial stability concerns through increased monitoring, a more systemic approach to supervising financial firms, and the ongoing implementation of reforms to make the financial system more resilient.
Recognizing the drawbacks of persistently low rates, the FOMC actively seeks economic conditions consistent with sustainably higher interest rates. Unfortunately, withdrawing policy accommodation at this juncture would be highly unlikely to produce such conditions. A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further. Such outcomes tend to be associated with extended periods of lower, not higher, interest rates, as well as poor returns on other assets. Moreover, renewed economic weakness would pose its own risks to financial stability.
Because only a healthy economy can deliver sustainably high real rates of return to savers and investors, the best way to achieve higher returns in the medium term and beyond is for the Federal Reserve–consistent with its congressional mandate–to provide policy accommodation as needed to foster maximum employment and price stability. Of course, we will do so with due regard for the efficacy and costs of our policy actions and in a way that is responsive to the evolution of the economic outlook.
1. See Congressional Budget Office (2013), The Budget and Economic Outlook: Fiscal Years 2013 to 2023 (Washington: CBO, February). Return to text
-Rescuers began winding down the search for survivors and victims of a mile-wide tornado that plowed across an Oklahoma City suburb, killing 24 people, as authorities put their first estimate of damaged or destroyed homes at 2,800.Rescuers began winding down the search for survivors and victims of a mile-wide tornado that plowed across an Oklahoma City suburb, killing 24 people, as authorities put their first estimate of damaged or destroyed homes at 2,800.President Barack Obama yesterday called the storm “one of the most destructive tornadoes in history.” He declared a major disaster in Oklahoma, making government funding available to people affected by the storm in five counties. So far about a thousand people have applied for assistance, the head of Federal Emergency Management Agency, Craig Fugate, said today onMSNBC’s “Morning Joe,” and a White House aide said about 400 FEMA personnel were in Oklahoma. Homeland Security Secretary Janet Napolitano is to travel to the area today.State medical examiner Eric Pfeifer confirmed that 24 people had been killed in the storm. The names weren’t immediately released. The death toll dropped yesterday from initial reports from his office that had pegged fatalities as high as 91. BBN
-After four years of development, Microsoft unveiled the Xbox One entertainment console and touted it as an all-in-one solution for playing games, watching TV and doing everything in between. Microsoft wants the Xbox One to be central to your living room and packed the new Xbox with such features as the ability to change TV channels through voice commands.Although the device won’t go on sale until later this year, at a price that hasn’t been disclosed yet. San Jose Mercury News
-Kerry Enables Arab Terrorists, Aims at Iran
U.S. Secretary of State John Kerry met Wednesday with officials in Oman to discuss their plans to buy a $2.1 billion air defense system from American manufacturer Raytheon.
-Execution of Boston Patsies continues by USA spooks
- Whatever remains of the so-called Volcker rule, which would restrict proprietary trading at banks holding federally insured deposits. Even though the rule is supposed to be implemented by next year, Chilton said it remains the province of the Federal Reserve and he has heard nothing about it for months. “It’s MIA,” he said. “I don’t think anyone cares about it anymore — other than me.” BBN
Market rigging as usual at Barclays/HSBC/UBS/JPM/MS/JPM
-I guess were all supposed to fall in awe that sextexting Anthony Weiner, the disgraced Zionist fanatic, is going to run for the Mayor of ubercorrupt NYC against another disgraced Zionist Fanatic and ease dropper Michael Bloomberg.
-Markets ahead of USA opening
-Europe 30 minutes ahead of USA Opening
EU regulators confirm they will cap bonuses of bankers making more than EU500K. Ollie Rehn said monetary policy likely to stay accommodative; must do whatever it take to fight unemployment.
German Fin Min Schaeuble reiterated the view that Euro crisis was still there, but EU had made progress. He also reiterated that Germany leaving the Euro would be a ‘catastrophe’ and Germany was still seeking an EU Treaty change. Low ECB rates werea justifiable policy, but rates must not stay low for a long period. Lastly he saw no sign of a real estate bubble in Germany.(more on that later)
EU trouble maker UK PM Cameron said UK Govt EU policy was not going to change in anyway. Euro Zone desperately needed change; Britain better off in a reformed EU.The International Monetary Fund has softened its assessment of the British government’s economic policies, saying in a report Wednesday that it did well to ease its pace of austerity cuts, but stressing more was needed to support the recovery.
In banking prison. Cyprus Central bank Governor Demetriades said lifting capital controls abruptly could cause problems.
Riksbank named two new deputy governors: Martin Floden and Cecilia Skings.
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50||2824.26||-9.13||-0.32|
|Stoxx Europe 600||308.92||-1.07||-0.35|
|Euro Stoxx 50||2815.48||-6.17||-0.22|
|Austria: ATX Index||2489.97||-31.15||-1.24|
|Denmark: OMX Copenhagen 20||552.99||1.04||0.19|
|Estonia: OMX Tallinn||813.47||-0.59||-0.07|
|Finland: OMX Helsinki||6459.75||-18.42||-0.28|
|France: CAC 40||4024.73||-11.45||-0.28|
|Greece: Athex Composite Share Price||1065.35||-25.54||-2.34|
|Greece: DJ Greece TSM||786.94||-17.02||-2.12|
|Greece: FTSE/ATHEX 20||361.75||-10.99||-2.95|
|Iceland: OMX Iceland All-Share||758.24||5.51||0.73|
|Ireland: ISEQ Overall||4057.83||-2.34||-0.06|
|Italy: FTSE MIB||17459.39||31.92||0.18|
|Latvia: OMX Riga||410.82||-1.11||-0.27|
|Lithuania: OMX Vilnius||393.62||-1.59||-0.40|
|Norway: OSE All-Share||536.12||-0.08||-0.01|
|Portugal: PSI 20||6035.80||-14.62||-0.24|
|Russia: DJ Russia Titans||6443.40||123.05||1.95|
|Spain: IBEX 35||8415.60||-48.90||-0.58|
|Sweden: OMX Stockholm||390.78||0.23||0.06|
|Switzerland: Swiss Market||8348.73||30.31||0.36|
|UK: FTSE 100||6813.10||9.23||0.14|
|UK: FTSE 250||14771.16||-34.29||-0.23|
|UK: FTSE AIM All-Share||730.54||1.73||0.24|
-Asia Close (late BOJ press meeting)
BOJ Gov Kuroda post rate decision Press Conference noted that volatility in JGB remained high and would keep close watch. Yields were not expected to jump a lot nor expecting big impact from recent JGB yield rise. Rising US interest rates could affect JGB yields to some extent in globalized Market as US Economy was on solid recovery track, while Japan’s economy yet to fully recover. He stressed that BOJ would respond to JGB market moves with flexibility in pace and frequency of debt purchases and market operations. He noted that the impact of weak Yen had some time lag on exports and its domestic economy had NOT achieved strong and sustainable growth.Japan Chief Cabinet Sec Suga said Abe govt wants BOJ to continue to steadily strive to reach inflation target as soon as possible
China Vice Fin Min Zhu Guangyao said China could see a massive outflow of capital if the FED winds down its quantitative easing program. China PBOC Research head Ji Zhihong commented that China strengthened its price tool uses and reiterated that interest rate liberalization was ongoing. Transforming China economic growth model from overly replying on investment and credit expansion would take time.
Indonesia Central Bank (BI) forecasted 2013 GDP growth at lower end of 6.2-6.6% range. It noted that inflation might reach 7.2-7.7% by end of 2013 on fuel price increase or seen at 5.5% without fuel price increase. 2013 Exports might hit $194-195B vs. $191B y/y
(MA) Malaysia Apr CPI Y/Y: 1.7% v 1.7%e
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1467.54||-1.45||-0.10|
|Australia: All Ordinaries*||5142.10||-14.10||-0.27|
|China: DJ CBN China 600*||22009.50||-10.99||-0.05|
|China: DJ Shanghai*||298.58||0.00||0.00|
|China: Shanghai Composite*||2302.40||-2.71||-0.12|
|China: Shenzhen Composite*||1021.40||-9.34||-0.91|
|China: Shanghai 50*||1858.20||7.11||0.38|
|Hong Kong: Hang Seng*||23261.08||-105.29||-0.45|
|India: BSE Sensex*||20062.24||-49.37||-0.25|
|India: S&P CNX Nifty*||6094.50||-19.60||-0.32|
|Indonesia: JSX Index*||5208.00||19.24||0.37|
|Indonesia: JSX BISNIS 27*||437.06||0.33||0.08|
|Indonesia: JSX Islamic*||708.10||4.78||0.68|
|Indonesia: JSX LQ-45*||880.18||1.19||0.14|
|Japan: DJ Japan TSM*||794.28||3.10||0.39|
|Japan: Nikkei 225*||15627.26||246.24||1.60|
|Japan: TOPIX Index*||1276.03||5.64||0.44|
|Malaysia: DJ Malaysia TSM*||3407.27||-13.62||-0.40|
|Malaysia: FTSE Bursa Malaysia KLCI*||1783.88||-3.50||-0.20|
|New Zealand: NZX 50*||4610.18||19.34||0.42|
|S. Korea: KOSPI*||1993.83||12.74||0.64|
|S. Korea: KOSPI 50*||1699.04||15.46||0.92|
|S. Korea: KOSPI 100*||1969.68||15.53||0.79|
|S. Korea: KOSPI 200 Composite*||260.19||2.01||0.78|
|Singapore: FTSE Straits Times*||3454.37||10.47||0.30|
-902 EU Credit Markets
The size of Portugal’s debt is being masked by purchases by the Stabilization Fund of Social Security (FEFSS) at the direction of the govt- Economico
Bank of Spain investigation finds that Spanish banks are hiding part of their customer’s real nonperforming loans by refinancing them repeatedly – El Mundo
According to a Morgan Stanley clients poll, 80% of respondents believe the ECB will cut rates again – DT, AEP
Russia abandoned the sale of $1.1 billion of ruble bonds, the first cancellation of an auction since October, after yields surged on concern policy makers will refuse to lower interest rates to bolster growth.The Finance Ministry planned to offer 33.6 billion rubles ($1.1 billion) of December 2019 OFZ bonds in today’s auction at a yield range of 6.33 percent to 6.38 percent. The yield jumped five basis points, or 0.05 percentage point, to 6.47 percent by 4 p.m. in Moscow, the highest in almost two weeks, after rising six basis points yesterday.
U.S. 10y 1.93-0.00, 0.12%
German 10y 1.38-0.03, 2.20%
Italy 10yr 3.88-0.02, 0.45%
Spain 10yr 4.19-0.00, 0.05%
U.K. 10yr 1.88-0.031.64%
Weak Auction in Germany despite slight rise in Yields. ESM does not feel the need to goose its own at least until after the auctions when it can manipulate the futures markets more easily.
(EU) ECB allotted $0.0M in 8-Day USD Liquidity Tenderat fixed 0.60% vs. $0.0M prior
(EU) ECB allotted $1.3B in 3-month USD Liquidity Tender at fixed 0.61% vs. $27M prior
(DE) Germany sells €4.124B. in new 1.5% 2023 Bund; Avg Yield: 1.41% v 1.28% prior; Bid-to-cover: 1.6x v 1.6x prior
(SE) Sweden sold SEK10B in 3-month Bills; Yield: 0.8677% v 0.8835% prior
-The Bank of England’s Monetary Policy Committee earlier this month voted unanimously to keep interest rates unchanged at a record low 0.5%, while three out of the nine members voted in favor of increasing the bank’s asset purchases, according to minutes of the meeting published Wednesday. Governor Mervyn King, Paul Fisher and David Miles preferred to increase the size of the asset-purchase program by 25 billion pounds ($38 billion) to a total of £400 billion. The votes were unchanged from the policy-setting meeting in April.
-Home-improvement retailer Lowe’s Companies Inc. on Wednesday reported a 2.5% increase in first-quarter net earnings to $540 million, or 49 cents a share, from $527 million, or 43 cents a share, in the year-ago period. Sales slipped 0.5% to $13.1 billion from $13.2 billion, while comparable sales fell 0.7%. Analysts surveyed by FactSet expected earnings of 51 cents a share on revenue of $13.47 billion. For the full fiscal year Lowe’s expects an about 4% rise in total sales and earnings per share of approximately $2.05. “Cooler than normal temperatures and greater precipitation resulted in a delayed spring selling season which impacted our results in exterior categories,” said Robert A. Niblock, chairman and chief executive. “While overall performance in the month of March was particularly soft, April improved significantly and we have maintained that positive momentum through the first few weeks of May,” he added. MW
-For the quarter ended April 30, Toll Brothers reported a profit of $24.7 million, or 14 cents a share, versus a profit of $16.9 million, or 10 cents a share, a year earlier. The most-recent quarter included a pre-tax gain of $13.2 million in other income associated with a settlement of derivative litigation, while the year-ago quarter included $2 million of inventory writedowns and a $1.6 million recovery of prior joint venture impairments.Revenue jumped 38% to $516 million.Analysts polled by Thomson Reuters expected earnings of seven cents a share on $512 million in revenue.Homebuilding revenue from the North was down 6.1%. In all other regions homebuilding revenue rose. It was up 42% in the Mid-Atlantic region, 65% in the South and 68% in the West.Gross margin excluding interest and writedowns widened a hair to 23.3% from 23.2% a year earlier. Input costs rose 37%.Toll Brothers, one of the nation’s largest home builders, delivered 894 units, a 33% increase from a year earlier. The average price of net signed contracts was $678,000, versus $624,000 in the prior-year period.Net signed contracts jumped 36% to 1,753 units and 57% in dollars to $1.19 billion, Toll’s highest for any quarter in seven years. The average price of homes delivered was $577,000 versus $557,000 a year earlier.The cancellation rate, defined as cancellations divided by signed contracts, was 3.4% versus 2.4% a year earlier.Toll’s backlog rose 69% to of $2.53 billion. MW
High End Homes, for the 1 %.
-Staples Inc.’s fiscal first-quarter earnings fell 9.2% as the office-supplies retailer’s North American and European same-store sales continued to weaken.The largest office-supply chain in the U.S. has seen its profit challenged by an increasingly digitized office and greater competition from mass merchants and online sellers. Staples unveiled plans last year to reduce its North American retail square footage 15% by the end of fiscal 2015. The company has also been cutting its headcount in Europe, the center of its international division’s weak performance.For the quarter ended May 4, Staples reported a profit of $169.9 million, or 26 cents a share, down from $187.1 million, or 27 cents a share, a year earlier. Last year’s earnings from continuing operations were 28 cents a share. Sales dropped 3.5% to $5.81 billion.Analysts polled by Thomson Reuters had most recently forecast per-share earnings of 27 cents on revenue of $5.91 billion.Gross margin edged down to 26% from 26.6%.North American retail sales fell 3.5% to $2.77 billion and same-store sales were down 2%. Analysts were looking for a 1.5% same-store sales decline.North American commercial sales climbed 1.7% to $2.04 billion.International sales decreased 13%, or 11% on a local currency basis. Europe same-store sales fell 3%, compared with Wall Street’s projected 6% decline. MW
-Target Corp. reported its first-quarter profit fell 29% to $498 million, or 77 cents a share, from $697 million, or $1.04 a share, a year earlier. Adjusted earnings per share were $1.05 in the first quarter, down 5% from $1.11. Revenue fell to $16.71 billion, from $16.87 billion a year earlier, the retail company said Wednesday. Analysts had expected earnings of 95 cents a share on revenue of $16.85 billion, according to FactSet. Target attributed its below-expectations earnings to a drop in apparel and seasonal clothing sales. The company lowered its full-year adjusted earnings per share guidance down to a range of $4.70 to $4.90, from a prior range of $4.85 to $5.05. Shares of Target were down 1.6% in premarket trading.
This is a working class store, not a welfare store. Results are bloody awful.
-Federal Reserve officials need three to four more months before they will be able to know if the economy can shrug off the drag from fiscal policy, said New York Fed President William Dudley on Wednesday. At the moment, there is a tug-of-war underway between the improving economy and budget cuts, Dudley said. “Three or four months from now I think you’re going to have a much better sense of, is the economy healthy enough to overcome the fiscal drag or not,” Dudley said in an interview on Bloomberg Television. Dudley’s comments suggest that the majority of Fed officials is not ready to begin to exit its easy monetary policy stance. Some Fed officials have pressed for the central bank to begin to taper bond purchases at their meeting in June. Dudley is a voting member of the Fed’s policy-setting committee. He is seen as a close ally of Fed Chief Ben Bernanke, who will testify to Congress later today about the economic outlook
-How Pagan German People celebrate Pentecost today
-Rewilding Germany and Depopulating it
After being released into the wild in Germany just last month, a herd of wisents has welcomed its first calf. The first European bison to be born free in Germany in centuries has been named “Quintus,” and appears to be healthy.
-Far-reaching legislation that grants a chance at citizenship to 10s of millions of immigrants living illegally in the United States cleared the Senate Judiciary Committee on a solid bipartisan vote Tuesday night after supporters somberly sidestepped a controversy over the rights of gay spouses.The 13-5 vote cleared the way for an epic showdown on the Senate floor on legislation that is one of President Barack Obama’s top domestic priorities.
Germany wants EU treaty change
Euro crisis is still there but region is less vulnerable now than before; progress has been made
Hopes Europe wont have a “big crisis”
ECB’s low rates a “justifiable policy,” but says they cannot remain low for an extended period
-USA prosecutors weighing using RICO statues in SAC case (extortion from Steve Cohen by the Justus Dept), WSJ.
-Europe Opening Prices
Stoxx Europe 600 index down 0.2% to 309.52
German DAX 30 index down 0.1% to 8,460.33
French CAC 40 index down 0.1% to 4,031.94
FTSE 100 index down 0.1% to 6,795.67
Asian markets are mixed today. The Nikkei finished up 1.6 % at 15627.26 despite a policy hold by the BOJ. The BOJ affirmed its plans to increase monetary base at annual pace of Y60-y70 tln, upgraded its economic assessment for the 5th consecutive meeting and stated the economy has started picking up, and noted some indicators suggest inflation expectations are on the rise, although Japan is still stuck in an deflationary environment. The BOJ policy statement neglected to mention higher yields and the interest rate risk associated with “Abenomics” with respect to the recent sell-off in JGBs, sending 10-year bonds to new highs of near 0.9%, which was probably the real reason for maintaining existing policy prescriptions in absence of measurable inflation anywhere near the target.
The ASX finished down -.33 % after the biggest decline in Australia Westpac consumer confidence in nearly 1.5 years. Analysts suggest the falling confidence is a reflection of the latest Australia government fiscal update, after the Treasury postponed a return to surplus until FY15/16. In probably one of the most bizarre statements I have witnessed in a long time , commodity producer Australia’s Minister for Resources and Energy, Gary Gray, called for lower commodity prices for China to spur growth. He was not sure how that could be accomplished given market fundamentals but he suggested Australians could produce more for less money, into a weak market. I doubt RIO/BHP will go for that. He’s never heard of a supply-demand curve apparently.
The PBOC set the yuan mid point at 6.1904 v 6.1356 prior close (record high setting for yuan). China’s economists have attributed the yuan’s recent appreciation to an inflow of foreign capital disguised as trade settlement and the recent strength of the Yuan was the focus of markets today in Shanghai. Also worrisome to Chinese markets was the Shanghai Daily highlighting the large and highly liquid Shanghai’s shadow banking system (gray and black markets), and China Academy of Social Sciences (CASS) Researcher Zhang Min saying China should ban illegal capital inflows, and should tighten capital account regulation effectively choking off the gray /black Yuan market and shadow banking system behind much of China’s economic growth. The Shanghai composite is down. -.35 %. Speaking of the banking system and credit flows, China May new loans could be CNY900B v CNY793B in April indicating there is plenty of credit expansion per China Daily. Bernanke’s QE4 is starting to rip through China. China Academy of Social Sciences (CASS) Researcher Li Enping said the government must enforce curbs on the property market or risk losing control of prices; prices are rising before demand is outstripping supply (indicative of the enormous damage the FEDs QE4 is causing China as they are too slow to let their Yuan appreciate.).
(JP) BANK OF JAPAN (BOJ) REITERATES POLICY STANCE: TO INCREASE MONETARY BASE AT ANNUAL PACE OF ¥60-70T (decision unanimous); UPGRADES ECONOMIC ASSESSMENT FOR 5TH CONSECUTIVE MEETINGEconomic Releases
(JP) JAPAN APR MERCHANDISE TRADE BALANCE: -¥879.9B V -¥621BE; ADJUSTED: -¥764.4B V -¥603BE(smallest deficit in 3 months)
(AU) AUSTRALIA APR DEWR INTERNET SKILLED VACANCIES M/M: -1.3% V +0.1% PRIOR
(AU) AUSTRALIA MAY WESTPAC CONSUMER CONFIDENCE INDEX: -7.0% (biggest decline in 17 months) V -5.1% PRIOR; INDEX: 97.6 V 104.9 PRIOR
(TW) TAIWAN APR UNEMPLOYMENT RATE: 4.2% V 4.2%E
(KR) SOUTH KOREA Q1 EXTERNAL SHORT-TERM DEBT: $122.2B V $126.8B PRIOR
GLD: SPDR Gold Trust ETF daily holdings fall by 8.4 tons to 1,023.1 ton (lowest since 1,008.8 tons in Feb of 2009)
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1470.17||1.18||0.08|
|Australia: All Ordinaries*||5140.00||-16.20||-0.31|
|China: DJ CBN China 600||21946.56||-73.93||-0.34|
|China: DJ Shanghai||297.75||-0.83||-0.28|
|China: Shanghai Composite||2296.98||-8.14||-0.35|
|China: Shenzhen Composite||1019.01||-11.73||-1.14|
|China: Shanghai 50||1851.48||0.40||0.02|
|Hong Kong: Hang Seng||23237.98||-128.39||-0.55|
|India: BSE Sensex||20144.12||32.51||0.16|
|India: S&P CNX Nifty||6118.50||4.40||0.07|
|Indonesia: JSX Index||5206.46||17.70||0.34|
|Indonesia: JSX BISNIS 27||437.73||1.01||0.23|
|Indonesia: JSX Islamic||707.54||4.22||0.60|
|Indonesia: JSX LQ-45||881.45||2.46||0.28|
|Japan: DJ Japan TSM*||794.27||3.09||0.39|
|Japan: Nikkei 225*||15627.26||246.24||1.60|
|Japan: TOPIX Index*||1276.03||5.64||0.44|
|Malaysia: DJ Malaysia TSM||3428.97||8.08||0.24|
|Malaysia: FTSE Bursa Malaysia KLCI||1793.92||6.54||0.37|
|New Zealand: NZX 50*||4610.18||19.34||0.42|
|S. Korea: KOSPI*||1993.83||12.74||0.64|
|S. Korea: KOSPI 50*||1699.04||15.46||0.92|
|S. Korea: KOSPI 100*||1969.68||15.53||0.79|
|S. Korea: KOSPI 200 Composite*||260.19||2.01||0.78|
|Singapore: FTSE Straits Times||3457.09||13.19||0.38|
|US Cotton No.2||83.88||-0.08||-0.10%|
|US Coffee C||132.73||-3.12||-2.30%|
-After Hours, US
Closing USA prices
6:14 p.m. EDT 05/21/13Markets Diary
The Los Angeles Times reported Tuesday afternoon that Lois Lerner, who heads up the Internal Revenue Service’s tax-exempt division, plans to invoke the Fifth Amendment to the U.S. Constitution in a hearing Wednesday before the House Committee on Oversight and Government Affairs.
NY FED President William Dudley, and vice chairman of the FOMC, said late Tuesday that the Fed may adjust the pace of asset purchases up or down depending on the economic outlook and that he was unsure which way the next change will be.
St. Louis FED President James Bullard said late Tuesday that the central bank should continue with its present bond-buying program and adjust the rate of purchases in view of incoming data on growth and inflation. He said the program is the best policy option and has been effective.
NORTH AMERICA APRIL SEMI BOOK/BILL RATIO: 1.08 V 1.11 PRIOR (4th consecutive month above parity)
API PETROLEUM INVENTORIES CRUDE: +530K V 0E (4th consecutive build); GASOLINE: +3M V 0E; DISTILLATE: +460K V -0.5ME; UTILIZATION: 86.8% V 87.6% W/W
SKS: NY Post reports that Saks has hired Goldman as advisor to explore strategic alternatives including possible sale; +19.4% afterhours
NTAP: Reports Q4 $0.69 v $0.68e, R$1.72B v $1.75Be; initiates $0.15 dividend; +3.6% afterhours
INTU: Reports Q3 $2.97 (adj) v $2.95e, R$2.18B v $2.19Be; +0.3% afterhours
Matt 5:6 Blessed are those who hunger and thirst for righteousness, for they will be satisfied.
|00:00||JPY||Interest Rate Decision||0.10%||0.10%||0.10%|
|Tentative||JPY||BoJ Press Conference|
|04:00||ZAR||South African CPI (MoM)||0.20%||1.20%|
|04:30||GBP||MPC Meeting Minutes|
|04:30||GBP||Public Sector Net Borrowing||7.0B||16.8B|
|04:30||GBP||Retail Sales (YoY)||2.0%||-0.5%|
|04:30||GBP||Retail Sales (MoM)||0.0%||-0.7%|
|05:30||EUR||German 10-Year Bund Auction||1.280%|
|06:00||CHF||SNB Chairman Thomas Jordan speaks|
|06:00||GBP||CBI Industrial Trends Orders||-19||-25|
|07:00||USD||MBA Mortgage Applications (WoW)||-7.3%|
|08:30||CAD||Core Retail Sales (MoM)||0.2%||0.7%|
|08:30||CAD||Retail Sales (MoM)||0.2%||0.8%|
|09:00||MXN||Mexican Retail Sales (YoY)||-0.3%||-2.6%|
|10:00||USD||Existing Home Sales||4.99M||4.92M|
|10:00||USD||Fed Chairman Bernanke Testifies|
|10:00||USD||Treasury Secretary Lew Speaks|
|10:30||USD||Crude Oil Inventories||-0.778M||-0.624M|
|11:30||BRL||Brazilian Foreign Exchange Flows||0.86B|
|14:00||USD||FOMC Meeting Minutes|
|20:00||SGD||Singaporean GDP (YoY)||-0.5%||-0.6%|
|21:00||AUD||MI Inflation Expectations||2.2%|
|21:45||CNY||Chinese HSBC Manufacturing PMI||50.50||50.40|
-Swaps Vote Is Another Big Win for the Big Banks
-Weak yen a help for Japan, but headache elsewhere
-Senate Panel moves illegal immigrant bill to Senate Floor
-BOJ says Economy picking up
-Bernanke Testimony to be watched for policy cues
-Tim Cook Demands Tax Cut
Tim Cook warns Congress he would refuse to repatriate $100bn unless 35% rate is cut
-Insight: No more easy pickings in Russia’s banking market http://reut.rs/ZcrMvN
-Iran bars candidates for presidential election http://reut.rs/ZcsFVc
-Apple CEO makes no apology for company’s tax strategy http://reut.rs/1a3Uvm7
The Bank of Japan held its policy unchanged at the end of its two-day meeting Wednesday, while saying that the economy was improving. “Japan’s economy has started picking up. Exports have stopped decreasing as overseas economies have been moving out of the deceleration phase that had continued since last year and are gradually heading toward a pick-up,” the central bank said in its statement. It also said that although the core consumer price index remained stuck in deflation, “some indicators suggest a rise in inflation expectations.” The decision to hold asset-buying levels steady marked the second straight meeting of no new action after the central bank unveiled aggressive new easing measures on April 4. The Japanese yen showed little reaction to the policy decision, with the dollar rising briefly before easing back to 102.43 yen, where it had traded earlier in the day. Likewise, stocks held their gains, with the Nikkei Stock Average up 1.2%. MW
How about that, a MSM commentator calls the foul Roubini out for what he is. You don’t see that every day, do you?
Caution this was so vulgar and profane, I could not watch more than the first minute. Probably an MTV video. I’ve never heard of this foul woman. Jewish destruction is truly something else to behold. You won’t find this on Alex Jones or Jeff Rense or the Sludge Report or World Net Daily or Bill Mahr! Repent Jews. The Jewish mind is so vulgar. Read their vaunted literary gods like Roth and Portnoy’s Complaint or I can give you a list of 100 other vulgar Jewish authors that have no match among the non-Jews except perhaps among the English, where this same moral dementia exists.
One of the three modern English Crown gods, Darwin, Keynes , Bertrand Russell to go with the Jews modern gods of Einstein (also like darwin a complete creation and fraud of the Enlish crown), Marx (Crown created) , and Freud(also promoted by the English crown). Keynes was also ‘lucky’ like Darwin at investing.
The English are constantly incensed that the vast majority of Americans reject Darwin’s teachings. Even the great Jewish Physicist Edward Teller , father of the Nuclear Bomb, mocked Darwin and said ‘how man got here is still the greatest scientific mystery of all’.
Darwinian evolution is practically speaking probabilistically impossible given the advances in cosmology and what we know about the physics of energy flow in biological systems, which of course were not known during Darwin’s time.
Now the Anglo-Zionist establishment elite invent a new evolution, called ‘neo-darwinism’ to try and preserve this frauds incompetence and to try and force evolution to fit within what physics says it can do. So far no luck and no working model that is mathematically consistent with the age of the earth, only 4.5 billion years. Truly the English Crown is head of the global mafia.
Most of England when you drill down deep enough is rotten to the core its being, as are most of the English. Sure of course there are a handful of decent English but in general there is no political dissent in England outside of a few Irish and Scots and Welsh.
One look in this guys eyes, before I scrolled down and I thought, ‘satanist’. The English are the most foul and extraordinary of people. These are the people of the antichrist and English society in the super majority know they are satanists and their Crown is satanic and head of the NWO. Don’t kid yourself American Anglophiles. An antichrist King with 92 % approval rating for an antichrist people. Notice how ‘careful’ Prince Charles pal’s rag is to include the thank satan sign. This Daily Mail is owned by high level Anglomasons and good friends of Prince Charles. It is basically a global spy operation for the Crown and ‘controller’ of the crowns stable of celebrities. Egads you English are a foul, foul people. Stay in England!!
-London/English seem to have asserted control over JPM/Dimon vote or frauded vote, victory for hyper-evil bankster Jamie Dimon and Anglo-Zionist BOD in shareholder vote
-Dutch Housing Bubble continues to deflate, Dire Consequences ahead for EU banks. Talking heads in Europe chat up ESM/ECB market rigging.
-APPL accused of legally avoiding $1 million/hr in taxes by Senate Criminals who enabled it.
-OK Tornadoes gives clear sign of Amplification by Digital Phase Array Weapons system
-Germany’s Chancellor Merkel said to be considering certain treaty changes aimed at giving more powers to Brussels
-Greek Suicides Hit 50 Year high like in the USA
-China hints of joining QE Race to the bottom
-Huge tornado touches down near Oklahoma City, more forecast, Devastation and Destructiony, killing at least 91 people, including 20 children
-MOF reverse position says More Y/D speculation okay
-Gold Prices Reverse Late Monday in USA trading session
- Racist, UST Sec Jacob Lew Moves to Cut of Gold Flow to Iran Working Classes
-Markets Ramped as the Zionist Destroyer is Kept in Place by Anglo-Zionists of England, despite Calpers!!
Everything is rigged against the American people by the hate filled evil English govt. He’s key to the gold rig. He goes, Masters probably would have been fired and had to return to England.
Bumped my short for tomorrow and sold the long I bought at the opening at 15400. Typical English day, bank stocks most up, gold stocks most down.
1:25 p.m. EDT 05/21/13Major Stock Indexes
Americans were greeted by three extraordinarily evil and ugly spectacles this morning, all traceable more or less to hellish England. The first was the devastating series of tornadoes in OK, more or less amplified by Digital Phase Array Weapon systems the Bush family sent to Australia and England, although the USA military may have been involved as well and we can’t rule out at this point direct USA military amplification and steering of the tornadoes, as England’s house- boy Obama is in deep political trouble; the English crown asserting its will upon the American people, and apparently per the NYT , keeping hyper-evil London banking Thugs Dimon/Masters in place at JPM; the evil Associate of Prince Charles and Baron Rothschilds , and most intelligent Americans think completely insane Sen John McCain, trying to blame APPL for taking advantageof tax avoidance laws he put in place at the Crown’s instruction. Likely this Senate Spectacle is being used to ‘harmonize’ global tax rates and give control to the IMF/World Bank crowd-crown owned firms CSCO, RDS, XOM, GE, GOOG surely belong in the same hot seat as non-Crown owned firm APPL.
Although the Home Depot results were a bright spot this morning, structural weakness manifested itself in same store sales declines at Best Buy, Dicks Sporting Goods and ‘recession’ proof Autozone. If people are postponing car repairs the USE is in dire straits.
GS appeared to initiate a pump and dump of the sheep ahead of Bernanke dog and pony show tomorrow before Congress, So I bumped my shorts. GS knows, they own him.
USA equity markets remained listless today ahead of the BOJ/FED tomorrow.
The dollar remained near a 3 year high and gold was attack even as the Japan MOF /Abe stooge Japanese Econ Min Amari said he is now looking for markets to deliver a “balanced yen for a third flip flop in 2 days. Gold was reflexively hit by black boxes of the hedge funds at 1400. TM wants 100 Y/D and any weaker Y/D will cause them problems competing as commodity prices will get too high in Japan. TM agreed to build a new factory in Japan yesterday after finally getting their way.
Sprint raised its buyout offer for Clearwire by 14%, to $3.40/shr from $2.97 prior. A vote on the previous offer had been scheduled for today, but Clearwire said it is postponing it until Thursday, May 30.
Zionist owned Carnival Corp shares down more than 6% after the firm slashed its FY13 outlook due to lower net yield expectations. BBN-TV has ’fetish’ for this stock, I wonder why given their near criminal treatment of the naive/corrupt gentiles who give their business to this firm. They were ‘giving’ cruises away based on horror show prior cruises.
The only think that might pull the global economies bacon on the fire is the first hint in 2 years the China’s PBOC might slash rates. That is a big deal.
The Bundesbank was lying today and saying Germany could sled along the EU was mere election year patter for Angela Rothschilds ,and the Germans are hoping goosed stock market via the ESM will stop all those Greeks from killing themselves and muddying up the EU headlines. Clear buy downs in Italy’s and Spain’s debt by the ESM/ECB are highly inflationary and Hungary and Holland and Spain’s banks are melting down fast.
Europe is a foul and dark place full of Jewish operators and English operators working for the Crown govt of Europe to completely enslave it. Merkel wants more power to the unelected LGBTS in Brussels per the FT. That is left out of the German language press. Every year the European press looks more and more like the boot-licking sycophants in the USA press. Even the free wheeling English press is being reigned in, although I suspect the ZGR has something to do with that. The English can’t boast as openly about running the globe in their press anymore and from the constant hacking away at my little non promoted website, I would say we are very high up on the Crowns list of silencing. Dissident voices are not allowed by the Anglo-Zionist terrorists at the Crown. I certainly covet readers prayers given the daily cursing and IT harassment from the British-Israel Druid Cult that rules England. It is a miracle we are still broadcasting and not DOA.
Items to watch in the near future are
FED Bullard speaks on Monetary Policy in Frankfurt as FED world tour continues
Bank of Canada (BoC) Gov. Carney speech in Montreal
Fed’s Dudley speaks in NY
Bank of Japan Interest Rate Decision (no set time)
Econ Releases Americas
(US) Redbook Retail Sales w/e May 17th: +2.4% y/y, May MTD: +0.5% m/m; May MTD: +2.6% y/y
(US) ICSC/GS weekly chain store sales w/e May 17th w/w: +0.2%; y/y: +3.1%
(BR) Brazil Apr Tax Collections (BRL): 98.7B v 95.0Be
Late EU Releases
(EU) OECD Q1 GDP Q/Q: 0.4% v 0.0% prior
(EU) ECB weekly Forex Reserves: €223.3B v €222.9B prior
(RU) Russia Apr Producer Prices M/M: -1.2% v +0.4%e; Y/Y: 1.6% v 3.0%e
(PL) Poland Apr Sold Industrial Output M/M: -2.3% v -1.7%e; Y/Y: 1.7% v 3.0%e
(PL) Poland Apr Producer Prices M/M: -0.6% v -0.2%e; Y/Y: -2.0% v -1.5%e
-Reason for Ok Tornadoes ?
Neo-Conservative NGO and media outlet WND conducted an independent poll overseen by research firm Wenzel Strategies asking Americans if they think President Obama should be impeached for the various scandals currently in the news – the specific targeting by the IRS of conservative groups and Obama enemies, the illegal wiretapping for personal gain of AP news journalists, and the cover-up of the events leading up to the death of four Americans in Benghazi ahead of the election last year.A stunning 50% of Americans surveyed said yes. What’s more, a full 25% of democrats polled by the firm agreed. The poll has a margin of error of 4.36
-More structural weakness in USE
Dick’s Sporting Goods Inc.’s DKS +0.48% fiscal first-quarter earnings rose 13% as the retailer’s net sales improved, though same-store sales slipped.The leading U.S. sporting-goods retailer has consistently posted top- and bottom-line growth for more than three years. Dick’s, which also owns and operates golf retailer Golf Galaxy LLC, bought the rights to the Top-Flite brand from Callaway Golf Co. (ELY) last year in an effort to become more competitive in the golf market.”In the first quarter, we generated earnings in line with our original guidance, but were not pleased with our sales results, which came in below our expectations,” Chief Executive Edward W. Stack said Tuesday.He said the company plans to drive sales and preserve margins in the near term by working with vendors, particularly in golf, to provide “value offerings,” while also executing its store-remodeling program and tightly managing clearance inventory.For the quarter ended May 4, Dick’s reported a profit of $64.8 million, or 52 cents a share, up from $57.2 million, or 45 cents a share, a year earlier. Excluding an impaired-asset recovery related to JJB Sports, earnings were 48 cents a share. In March, it projected downbeat earnings of 47 cents to 49 cents a share.Net sales were up 4.1% at $1.33 billion, below analysts’ estimates of $1.36 billion.Gross margin edged up to 30.9% from 30.8%.Consolidated same-store sales shrank 3.8%, compared with the company’s prediction of a 1% to 2% drop. Same-store sales for Dick’s Sporting Goods decreased 3.2% and Golf Galaxy sales decreased 12%
-A paper due to be presented Tuesday by a Federal Reserve official calls for a major market structure change by having trades executed every half-second, instead of the current nonstop steam of trades that exists with today’s high-speed markets.According to a Wall Street Journal story , a paper due to be presented Tuesday by theFederal Reserve Bank of Chicago, is expected to raise the ire of high-frequency traders who contend that speed and the ability to post and cancel a quote are all frictions that provide needed liquidity to the markets. Exchanges are also expected to raise concerns because they profit from super-fast traders. Read about Anadarko flash crashThe report’s author, John McPartland, argues that the proposal would help make securities and derivatives markets more fair to mutual funds and retail investors. WSJ
-Canada’s Anglo-Crown Criminals govt
Canadian Prime Minister Stephen Harper’s chief of staff has resigned amid an expenses scandal buffeting the government.Nigel Wright announced his resignation on Sunday after it was revealed on May 14 that he had secretly given a check of 90,000 Canadian dollars (about $87,000) to conservative Senator Mike Duffy, who resigned from the conservative caucus on May 16. The managing director of a major Canadian private equity firm, Wright issued a statement saying he had decided to quit “in light of the controversy surrounding my handling of matters involving Senator Duffy.
Never trust anyone named nigel and especially don’t bend over at the athletic club if they try and hop in the communal shower with you!!
-Stupid DT journalist nailed by Pfishing attack by Syria’s cyber army. Too funny. Nice hack job, probably done with Russia’s help. Ha, ha. Great. First the FT, then the DT, then GOOG.
-If you watched that tornado video I posted last night and have seen a lot of ‘natural’ tornadoes form, you could not help but notice the amplification of the tornado as they simply don’t become super-sized so quickly. More evidence of weather engineering. Obummer is in trouble now he gets to play the hero for only 100 dead.What a deal Obummer. Christians should pray against Obama’s evil. Hyper Evil England/OZ now have this capability as Bush sent them USA designed systems. In Fukushima it was Israel on the ground sabotaging and Australia for the Crown in the ‘air’ so to speak. Tornadoes , earthquakes, hurricanes no problems for these digital phase array radar/energetics systems.
-NATO commanders denounced in Spain for committing war crimes
President of the Rene Cassin Committee, Spanish attorney Alberto Revuelta, issued a statement saying that the military commanders from the United States, Britain, Italy and Spain committed war crimes after they bombed the town of Shigal in Afghanistan’s Kunar Province on April 6 and killed at least 10 children and a woman.
The bombardments carried out by US-led forces in the war-ravaged country “could be characterized as war crimes, defined in the Rome Statute of the International Criminal Court as serious violation of the Geneva Conventions of August 1949,” the statement said.
-Prince Charles has ‘fail’ in anti-American pro Islam Agenda 21 education in Texas
In the future, he said he would like to see school districts partner on curriculum development. He and other lawmakers said they got complaints from parents about CSCOPE, including a lesson on the Boston Tea Party that invited students to include the perspective of Britons who might have considered it an “act of terrorism,” and other allegations that CSCOPE promotes Islam over Christianity.
Foul England. Foul English people, with 92 % support the Crown’s evil including its constant attacks upon the USA and global drug trade and forever wars.
-Bundesbank Talks Angela Rothschilds book ,and strangely Regling gooses the DAX
Germany’s central bank expects the country’s economy to improve “markedly” in the second quarter — a development that could boost the wider eurozone as it struggles to get out of recession.The Bundesbank said Tuesday that Europe’s largest economy should expand more robustly after a weak first three months of the year. Germany grew only 0.1 percent in the first quarter in part because cold weather delayed the construction season.In its monthly report, it said that construction activity will catch up. It also cited “reason to hope” that companies will start investing in machinery and equipment to meet increased demand for goods — a key stage in any recovery. Industrial orders unexpectedly rose in March by 2.2 percent, instead of declining as analysts had expected.So far, the report said, corporations continue to hold back on new investment, primarily because of weak demand for products — even though conditions for financing new investment are “exceptionally favorable.” The European Central Bank cut its key interest rate to a record low of 0.5 percent on May 2 and bank lending rates remain low.The Bundesbank warned, however, that troubles with too much government debt in other euro countries — Germany’s major trading partners — means “risks remain high.” While interest rates are low in Germany, they are higher in countries such as Spain and Italy, where banks are making loans harder to get and charging customers more because their own finances are strained.Stronger German growth could help the eurozone climb out of its recession. The economy of the 17-country currency union shrank 0.2 percent in the first three months of the year. Growth is suffering as governments cut spending and raise taxes to try to reduce debt. The ECB expects a gradual recovery in the second half of the year.Official German second-quarter growth figures are due in mid-August, a little over a month before elections in which Chancellor Angela Merkel will seek a third term as chancellor. AP
-I refuse to follow the APPL /Congress tax charade and feigned outrage. Congress including McCain the super evil liar of the British Crown and pal of Jacob Rothschilds and Prince Charles put those loop holes in. This is why Congress has had 15-20 % approval since Clinton got in and started the ‘gifting’ of multinationals as his grandpa, David Rockefellers instructions.
Sen. Rand Paul nails Rothschilds/Prince Charles evil b-tch John McCain.
He says the committee should’ve brought in a giant mirror so members could see who wrote the country’s “awful tax code.”
-Data from Greece national statistics agency shows the number of suicides in crisis-hit Greece has hit a 50-year record. Just like in the USA like we covered yesterday. Thanks Anglo-Zionist that run Europe and USA!!
-SAC Capital Advisors is bracing for another round of withdrawal requests as fears grow that insider trading investigations could further damage Steven A. Cohen and his firm. Dealbook
-Jamie Dimon appears set to hold onto his title of chairman after JPMorgan Chase’s shareholders defeated a proposal to split the two top jobs, according to people who have seen the preliminary tallies. Dealbook
-GS Pumps and Dumps Sheep ahead of correction
“We are raising our S&P 500 dividend estimates and index return forecasts for 2013 through 2015. We expect S&P 500 index will rise by 5% from the current level to 1,750 by year-end 2013, advance by 9% to 1,900 in 2014, and climb by 10% to 2100 in 2015.”
(what utter ‘lord of the flies’ excrement)
-Home Depot Tuesday reported an 18.5% rise in first-quarter earnings to $1.2 billion, or 83 cents a share, from $1 billion, or 68 cents a share, in the same quarter last year. Net sales rose 7.4% to $19.1 billion from $17.8 billion, with a seasonal timing change adding about $574 million to sales in this year’s first quarter. Adjusted for the timing benefit, comparable-store sales gained 4.3%. Analysts surveyed by FactSet expected earnings of 76 cents a share on revenue of $18.53 billion. Home Depot raised its 2013 earnings guidance and now expects EPS to be up approximately 17% to $3.52 for the year. “In the first quarter, we saw less favorable weather compared to last year, but we continue to see benefit from a recovering housing market that drove a stronger-than-expected start to the year for our business,” said Frank Blake, chairman and chief executive, in the earnings release.
-Best Buy Co. Inc. said it swung to a loss of $81 million, or 24 cents a share, in its fiscal 2014 first quarter from a year-ago profit of $158 million, or 46 cents a share. Per-share earnings from continuing operations fell to 29 cents a share from 49 cents a share. Those earnings excluded European operations as Best Buy agreed to sell its 50% stake in Best Buy Europe on April 30. Revenue fell to $9.38 billion, from $10.37 billion a year earlier, the retailer said Tuesday. Analysts had expected earnings of 24 cents a share on revenue of $10.67 billion, according to FactSet.
-For the quarter ended May 4, AutoZone reported a profit of $265.6 million, or $7.27 a share, versus $248.6 million, or $6.28 a share, a year earlier. Revenue grew 4.5% to $2.21 billion. Same-store sales dropped 0.1%.Analysts polled by Thomson Reuters had most recently forecast per-share earnings of $7.21 on revenue of $2.21 billion.Gross margin edged up to 51.8% from 51.6%.Total auto-parts sales increased 2.9% to $2.13 billion, while domestic commercial sales were up 9.7% to $356.3 million.
People can’t even afford car repairs.
-EU Credit Markets
We had another buy down by the ESM ahead of the Spanish auction and ramp at the opening.
Incredulously the UK wants to float 50-60 year long bonds. Hey when the BOE is buying and David Cameron is in trouble wrt to the EU, they will do anything to goose their markets keep the housing bubble aloft.
DMO minutes from quarterly consultations noted that it planned 11 Gilt auctions in Q3, and at least 1 syndicate bond in quarter. GEMMS had mixed views on 1/2 syndicated deals in Q2 and suggested focus on longer dated linkers. Some GEMMS called for 50 to 60 year sale through bank syndicate in July. GEMMS recommended index linked syndicate deal for 50-60 year Gilts for Sept but most GEMMS favored July sale of 30-40 year Gilts through syndicate. Investors wanted long-dated bonds through bank syndicates in Q3. New super long launch could wait until Sept.
Hungary Central Bank Financial Stability Report noted that its banking sector faced mild capital shortage in stress test. Hungary’s banks had ample liquidity but their capital position had deteriorated. New lending unlikely to recover in the next 2 years, lending to SME’s seen recovering in late 2014. Loan to deposit ration to drop to 100% by end of 2014 from 110% currently. Non-performing loans (NPL) might rise above 24% by end of 2014 vs. 19.1% at end 2012. Household loan portfolio deterioration may turn around by the end of 2013.
Portugal’s Social Security Fund might increase government debt purchases. Under a plan being discussed, the fund could hold up to 90% of its portfolio in Portugal’s government debt. Currently at least 50% of the portfolio must be in Portuguese debt.
Former Italy PM Monti: banking and fiscal crisis in euro zone is largely over; Italy is not faced with another election in 6 months (another big lie).
Sweden Fin Min Borg commented that bank rules to be tightened gradually over 5-10 years and Sweden should consider raising capital rules above 12%.
ECB’s Liikanen: Speculation of a Euro break-up have died out; ECB measures have helped narrow bond spreads (admits to the rig).
Draft EU law to protect insured bank depositors under €100k; larger depositors could suffer losses after equity and bond holders hit.
U.S. 10yr 1.98+0.00,0.09%
German 10y 1.40+0.02,1.36%
Italy 10yr 3.88+0.02, 0.39%
Spain 10yr 4.17-0.03,0.77%
U.K. 10yr 1.91-0.010.47%
(EU) ECB allotted €1034B in 7-Day Main Refinancing Tender at fixed 0.50% vs. €103.5B prior
(ES) Spain Debt Agency (Tesoro) sold total €3.51B vs. €2.5-3.5B indicated range in 3 Month and 9 Month Bills
Sold €892M in 3-month Bills; Avg Yield: % v 0.120% prior; Bid-to-cover: tbd v 3.76x prior; Max Yield: % v 0.150% prior; Tail: 2.1bps v 3.0bps prior
Sold €2.62B in 9-month Bills; Avg Yield: % v 0.787% prior; Bid-to-cover: tbd x v 2.37x prior; Max Yield: % v 0.825% prior; Tail: 2.1bps v 3.8bps prior
(CH) Switzerland sold CHF924.1M in 6-Month Bills; Yield: -0.119% v -0.119% prior
(HU) Hungary Debt Agency (AKK) sold HUF50B vs. HUF50B indicated in 3-Month Bills; Avg Yield: 4.21% v 4.24% prior; Bid-to-cover: 2.24x v 1.71x prior
(NL) Netherlands Debt Agency (DSTA) sold total €2.73 vs. €2.0-4.0B indicated range in 3-month and 6-month Bills
Sold €1.65B vs. €2.0B indicated in 3-month bills; Yield: -0.036% v -0.039% prior; Bid-to-cover: 3.02x v 3.48x prior
Sold €1.08B vs. €2.0B indicated in 6-month Bills; Avg Yield: -0.015% v -0.018% prior; Bid-to-cover: 3.47x v 2.98x prior
-Markets Pre Opening
EU’s Barroso express concern about EU’s immediate growth prospects
German officials commented ahead of Wed EU Leader Summit that was seeking a joint Euro proposal with France. He added that German Chancellor Merkel and France President Hollande might discuss the Euro at the summit and the German-French euro area talks were intensive. Germany wanted to increase scope and intensity of tax-sharing data and a single EU energy market was one of its goals. EU Treaty change was not on Summit agenda.
France Fin Min Moscovici was said to be seeking to raise sanctions against tax evasion which could include prison terms and impose 60% tax level on evaders (the cruel Jew).
Dutch housing bubble continues to burst, with dire consequences for Dutch banks just ahead.
(EU) ECB: €190M borrowed in overnight loan facility vs. €122M prior; €85.0B parked in deposit facility vs. €83.0B prior
(DE) Germany Apr Producer Prices M/M: -0.2% v -0.1%e; Y/Y: 0.1% v 0.2%e
(FI) Finland Apr Unemployment Rate: 8.8% v 8.8%e
(CH) Swiss Apr M3 Money Supply M3 Y/Y: 10.2% v 9.9% prior
(NL) Netherlands Apr House Price Index M/M: -1.4%% v +0.1% prior; Y/Y: -7.6% v -7.0% prior
(SE) Sweden Apr Unemployment Rate: 8.7% v 8.7%e; Unemployment Rate Seasonally Adj: 8.4% v 8.3%e
(SE) Sweden Q1 Total Number of Employees: 1.2% v 1.1% prior
(UK) Apr Gross Mortgage Lending at £12.1B v £11.6B prior
(UK) Apr PPI Input M/M: -2.3% v -1.3%e; Y/Y: -0.1% v +0.3%e
(UK) Apr PPI Output M/M: -0.1% v +0.2%e; Y/Y: 1.1% v 1.4%e
(UK) Apr PPI Output Core M/M: 0.1% v 0.3%e; Y/Y: 0.8% v 0.9%e
(UK) Apr CPI M/M: 0.2% v 0.4%e; Y/Y: 2.4% v 2.6%e; CPI Core Y/Y: 2.0% v 2.3%e
(UK) Apr RPI M/M: 0.3% v 0.5%e; Y/Y: 2.9% v 3.1%e; RPI Ex-Mortgage Interest Payment (RPIX): 2.9% v 3.0%e; Retail Price Index: 249.5 v 249.9e
(UK) Mar ONS House Price Y/Y: 2.7% v 2.0%e
The Shanghai Composite Index rose 0.22 pct to end at 2,305.1 while the Shenzhen Component Index closed 1.04 pct higher at 9,403.54.
Late Econ releases
(HK) Hong Kong Apr CPI Composite Index Y/Y: 4.0% v 3.7%e
(JP) Japan Mar All Industry Activity Index M/M: -0.3% v -0.4%e
(JP) Japan Apr Supermarket Sales Y/Y: -1.9% v +1.7% prior
Former PBoC Advisor Li Daokui: China’s economy to enter consolidation phase as property market and export sector are no longer growth engines. China cannot be passive as advanced nations ease aggressively.
South Korea Finance Ministry Dir General Choi commented that rapid Yen depreciation was a concern for South Korea and that KRW currency volatility could trigger smoothing operations. Govt was monitoring money inflows to bond market as inflows might be adding to FX volatility. Awaiting good timing on USD-denominated bond sale; North Korea risks affect timing of dollar bond sale.
China may impose ultra-luxury vehicle tax – Chinese press.
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1470.07||-1.88||-0.13|
|Australia: All Ordinaries*||5156.20||-29.20||-0.56|
|China: DJ CBN China 600*||22020.55||86.83||0.40|
|China: DJ Shanghai*||298.58||0.79||0.27|
|China: Shanghai Composite*||2305.11||5.13||0.22|
|China: Shenzhen Composite*||1030.74||13.83||1.36|
|China: Shanghai 50*||1851.08||-10.17||-0.55|
|Hong Kong: Hang Seng||23410.79||-82.24||-0.35|
|India: BSE Sensex||20170.09||-53.89||-0.27|
|India: S&P CNX Nifty||6134.30||-22.60||-0.37|
|Indonesia: JSX Index||5177.31||-37.66||-0.72|
|Indonesia: JSX BISNIS 27||435.82||-2.39||-0.55|
|Indonesia: JSX Islamic||701.79||-7.67||-1.08|
|Indonesia: JSX LQ-45||877.33||-6.81||-0.77|
|Japan: DJ Japan TSM*||791.26||0.28||0.04|
|Japan: Nikkei 225*||15381.02||20.21||0.13|
|Japan: TOPIX Index*||1270.39||0.88||0.07|
|Malaysia: DJ Malaysia TSM||3420.58||20.61||0.61|
|Malaysia: FTSE Bursa Malaysia KLCI||1786.83||9.68||0.54|
|New Zealand: NZX 50*||4590.84||-7.82||-0.17|
|S. Korea: KOSPI*||1981.09||-1.34||-0.07|
|S. Korea: KOSPI 50*||1683.58||-5.14||-0.30|
|S. Korea: KOSPI 100*||1954.15||-5.13||-0.26|
|S. Korea: KOSPI 200 Composite*||258.18||-0.42||-0.16|
|Singapore: FTSE Straits Times||3438.47||-15.76||-0.46|
-One of the Ok Tornadoes
-Bolivia passes a law which could allow President Evo Morales to be elected for a third time, despite claims that it is unconstitutional.
-Berlin is drawing up plans for treaty changes to streamline decision-making in the eurozone, while stopping short of any wholesale renegotiation that would allow the UK to repatriate powers from Brussels.Although Angela Merkel, German chancellor, has expressed her desire to keep the UK inside the EU, the move being discussed in Berlin would thwart a plan by David Cameron, UK prime minister, to piggyback on eurozone reforms to renegotiate the British relationship with Brussels.Mr Cameron had hoped to exploit renewed interest in Berlin for wholesale EU treaty changes as a way to renegotiate the UK’s membership terms. But Berlin’s strategy for a new, narrowly focused treaty could force the UK premier into a repeat of the dilemma he faced in December 2011, when Mr Cameron rejected the fiscal compact treaty but most other EU countries went along without him.Senior German officials acknowledged that they were isolated on treaty change, which is fraught with political landmines in several countries – particularly France, which would probably require a national referendum if major changes were made to EU law.The timing of treaty changes remains a matter of debate but it could come as early as next year, after elections to the European parliament in May. The way ahead is due to be discussed at a summit next month. FT
-0300 Europe Opens
Stoxx Europe 600 index opens down 0.1% at 309.44
Germany’s DAX 30 index 0.1% lower at 8,448.91
France’s CAC 40 index opens 0.3% lower at 4,012.40
U.K.’s FTSE 100 index opens 0.1% lower at 6,751.02
U.S. 10yr 1.97+0.00, -0.09%
German 10y 1.38-0.00. 0.09%
Italy 10y 3.87+0.01, -0.13%
Spain 10yr 4.20-0.00, 0.06%
-CEO : Tesla Motors may repay U.S. loan by Wednesday
- Goldman Sachs: UK exit from EU would be ‘loss/loss scenario’
-EU’s Barroso says EU’s immediate growth prospects has him “concerned”
Barroso speak at EP Plenary Session
Asian markets are flat to down as the FOMC and BOJ decisions loom Wednesday. Traders and funds around the globe are looking for clues from the FED chief that the recent press speculation suggesting a taper of QE could be coming as early as this year, and any hints of less accommodation could potentially spark a bout of profit-taking across the risk assets.
Japan’s Nikkei finished up 0.1% at 15,381.02. Japan Economic Minister Amari backtracked from yesterday’s suggestion that the excessively strong JPY currency (yen) has corrected quite a bit, noting he cannot say when the correction ends or at what level it should be deemed as complete. The Y/D surged to 102.7 before retreating to 102.5. In Japan Bankrupt TEPCO shares surged on speculation the govt would approve the start of its reactors.
RBA released the minutes from its May policy meeting when it surprised expectations for a hold with a 25bp cut. In the minutes, RBA noted some scope for easing should be used, even though inflation was likely to remain consistent with target over the next two years, pointing to high AUD, below-trend 2013 GDP, subdued credit growth, and weak labor market. Some of the analysts indicated the RBA statement was more neutral than expected, giving little indication it was prepared to ease further in the short term, and that the May move had more to do with the persistence of the Aussie dollar strength.
(AU) AUSTRALIA RBA POLICY MINUTES FOR MAY MEETING: Decided some easing scope should be used at the May meeting
(AU) AUSTRALIA MAR CONFERENCE BOARD LEADING INDEX: 0.1% V 0.3% PRIOR (3rd consecutive increase)
(NZ) NEW ZEALAND Q2 RBNZ 2-YEAR INFLATION EXPECTATION: 2.1% V 2.2% PRIOR (multi-year low)
(NZ) NEW ZEALAND APR CREDIT CARD SPENDING M/M: +0.4% V -0.3% PRIOR; Y/Y: 4.0% V 3.7% PRIOR
(NZ) NEW ZEALAND APR NET MIGRATION: 1.6K V 1.3K PRIOR
SLV: iShares Silver Trust ETF daily holdings fall to 10,198 tons from 10,252 tons (lowest since 10,163 on Jan 15th)
GLD: SPDR Gold Trust ETF daily holdings fall by 6.9 tons to 1,031.5 ton (lowest since 1,029.0 in Mar of 2009)
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1471.01||-0.94||-0.06|
|Australia: All Ordinaries*||5156.20||-29.20||-0.56|
|China: DJ CBN China 600||21954.48||20.76||0.09|
|China: DJ Shanghai||297.65||-0.14||-0.05|
|China: Shanghai Composite||2298.28||-1.71||-0.07|
|China: Shenzhen Composite||1025.81||8.89||0.87|
|China: Shanghai 50||1843.84||-17.41||-0.94|
|Hong Kong: Hang Seng||23389.03||-104.00||-0.44|
|India: BSE Sensex||20157.02||-66.96||-0.33|
|India: S&P CNX Nifty||6128.70||-28.20||-0.46|
|Indonesia: JSX Index||5185.83||-29.15||-0.56|
|Indonesia: JSX BISNIS 27||436.60||-1.61||-0.37|
|Indonesia: JSX Islamic||705.02||-4.44||-0.63|
|Indonesia: JSX LQ-45||879.13||-5.00||-0.57|
|Japan: DJ Japan TSM*||791.41||0.43||0.05|
|Japan: Nikkei 225*||15381.02||20.21||0.13|
|Japan: TOPIX Index*||1270.39||0.88||0.07|
|Malaysia: DJ Malaysia TSM||3417.97||18.00||0.53|
|Malaysia: FTSE Bursa Malaysia KLCI||1784.14||6.99||0.39|
|New Zealand: NZX 50*||4590.84||-7.82||-0.17|
|S. Korea: KOSPI*||1981.09||-1.34||-0.07|
|S. Korea: KOSPI 50*||1683.58||-5.14||-0.30|
|S. Korea: KOSPI 100*||1954.15||-5.13||-0.26|
|S. Korea: KOSPI 200 Composite*||258.18||-0.42||-0.16|
|Singapore: FTSE Straits Times||3438.84||-15.39||-0.45|
|US Cotton No.2||85.22||-0.59||-0.69%|
|US Coffee C||135.85||-1.15||-0.84%|
Japan 10yr 0.88+0.02. 2.62%
-After Hours, USA Close
Chinese President Xi Jinping will meet US President Barack Obama on June 7 and 8 at the Annenberg Estate in Rancho Mirage, California, their first official meeting since Xi assumed leadership in March.The two previously met in February last year when Xi visited the US as China’s vice-president at the invitation of US Vice-President Joe Biden.Foreign Ministry spokesman Qin Gang said in Beijing on Tuesday that the two leaders will hold in depth talks on a wide range of bilateral, regional and global issues. “(We) believe it is of great significance in pushing forward the long-term healthy and stable development of China-US relations, promoting peace, stability and prosperity in the region and the world,” Qin said.
Chinese hackers who allegedly broke into Google Inc. databases accessed valuable information about U.S. knowledge of Chinese espionage activities, the Washington Post reported late Monday. The cyber-intrusions, which Google reported in 2010, included information on U.S. court orders to conduct surveillance of Gmail accounts, the report said. This, in turn, likely tipped off China as to which of its operatives had drawn the suspicion of U.S. authorities. The report cited an unnamed senior Microsoft Corp official as saying Microsoft — which owns Outlook and Hotmail email platforms — suffered a similar attack also likely aimed at seeing which accounts had been tagged for U.S. surveillance
Large tornadoes swept through towns just south of Oklahoma City, killing at least 51 people — including 20 children — and laying waste to numerous buildings, including more than one elementary school.
Fox Correspondents Mike Rosen and William LaJeunesse and producer Mike Levine were targets of subpoenas for email records and other surveillance, and the DOJ never notified them.
(US) FED Evans (dove, FOMC voter): Fed could continue buying bonds at the current rate through the fall or it could abruptly end the buying program if the labor market improvement looks to continue.
CCL: Lowers FY13 guidance to $1.45-1.65 v $1.99e, Rev -3% to -2% y/y, implies $14.9-15.1B v $15.9Be (guided $1.80-2.10, Rev “in line with prior” on Mar 15th); Affirms Q2; -4.1% afterhours
7:07 p.m. EDT 05/20/13Markets Diary
Greedy UST pigs in Gold Crush on Iran and Golden Panic-The Cruel Jew, Jacob Lew
The U.S. is trying to stop the gold rush to Iran in a bid to undermine the Islamic Republic’s plummeting currency, but critics say the move is more likely to hurt ordinary citizens than the rogue regime’s leadership.
A top Treasury Department official told lawmakers that, starting July 1, the U.S. plans to crack down on all transfers of gold to the Iranian government or its citizens. The move appears aimed largely at banks and gold brokers in Turkey and the United Arab Emirates. Companies operating from within those nations have shipped large amounts of gold to Iran as Tehran attempts to stabilize its currency, the rial, amid increasing international economic isolation.
“We have been very clear with the governments of Turkey and the UAE and elsewhere, as well as the private sector that is involved in the gold trade, that as of July 1 all must stop, not just the trade to the government,” Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen told members of the Senate Foreign Affairs Committee last week.
The rial has lost two-thirds of its value against the dollar since late 2011, largely as a result of U.S.-led sanctions targeting the banking system and oil exports. The sanctions are in response to Iran’s ongoing nuclear weapons program. The U.S. can impose sanctions on foreign companies that violate the Iran policy, as long as those companies also seek to do business with parties in the U.S. To date, the Obama administration has not penalized any companies in Turkey or the UAE for trading in gold with Iran.
“There’s a tremendous demand for gold among private Iranian citizens, which in some respects is an indication of the success of our sanctions,” Cohen said. “They are dumping their rials to buy gold as a way to try to preserve their wealth. That is, I think, an indication that they recognize that the value of their currency is declining.”
Some economists questioned whether the gold squeeze can be effective against the Islamic regime.
“It is not clear to me that banning the sale of gold to private Iranian citizens is going to increase pressure on the Iranian government,” Milken Institute economist Komal Sri-Kumar told FoxNews.com. “While banning the sale of essential goods and service has a depressive effect on an economy, banning gold sales simply removes one safety valve that the residents would have had.
“It means, then, that the rial cannot be used by residents to purchase gold. They have to use the currency to buy domestic real estate, goods and services to hedge against inflation. In turn, this would probably hurt residents more than it would the rulers,” he added.
In February, the Central Bank of Iran claimed that the country holds 907 tons of gold — roughly worth $17.5 billion — in reserves. Officials for the agency added in reports that the nation had purchased gold in recent years at an average of $600 per ounce. While gold reached a price of three times that during its recent run, it has fallen below $1,400 per ounce.
The new effort is the latest in sanctions imposed by the U.S. and Europe against Iran. In 2011, a sanctions law was signed by President Obama that led a full embargo on crude oil and gas products which cost the Iranian government of billions of dollars in revenue.
But many agree that the most likely to suffer from the embargo will be ordinary citizens and not the regime.
“Our position is that economic sanctions should target the government and not the entire people,” Hadi Ghaemi, executive director of the International Campaign for Human Rights in Iran, told FoxNews.com. “Crippling sanctions will hurt average Iranians, strengthen the regime, and play into their hands by blaming misery of the people and all of the government’s shortcomings on the West.
“We wish to see targeted sanctions against the regime and its officials, not the entire people of Iran,” he added.”We already have serious shortages in medical, food and industrial sectors of Iran with Iranian people paying a heavy price, while the regime’s cronies getting richer due to the economic environment created through black market, smuggling and inflation.”
Pentagon Pigs, and that is being rude to the pig
Pentagon officials have submitted a new request for another $79.4 billion for “overseas contingency operations,” essentially to pay for the 2014 fighting of the Afghan War. The request is above and beyond the $526 billion the Pentagon is already seeking for 2014, which was supposed to include the war’s costs.
Requests for supplemental war funds are nothing new for the Pentagon, but the latest request comes in the context of a growing budget crisis in Afghanistan, with the 2013 “contingency funds” already burned through as costs continue to soar.
The Pentagon’s estimates for their costs have been much too low, as the “success” that is always supposed to be just around the corner in Afghanistan never pans out, and officials conceded in recent comments that the costs of the war may continue to rise “substantially” going forward.
Officials are bragging that the 2014 request is somewhat less than the 2013 version, but the reality is that with surge troops being withdrawn, the savings were supposed to be significant. Instead, the war continues as an all-consuming sinkhole for tax money, with no end in sight and the Pentagon’s best estimates inevitably falling far short.
9 Know ye not that the unrighteous shall not inherit the kingdom of God? Be not deceived: neither fornicators, nor idolaters, nor adulterers, nor effeminate, nor abusers of themselves with mankind,
10 Nor thieves, nor covetous, nor drunkards, nor revilers, nor extortioners, shall inherit the kingdom of God.
|00:30||JPY||All Industries Activity Index (MoM)||-0.3%||-0.3%||0.6%|
|02:00||EUR||German PPI (YoY)||0.1%||0.2%||0.4%|
|02:00||EUR||German PPI (MoM)||-0.2%||-0.1%||-0.2%|
|04:30||HKD||Hong Kong CPI (YoY)||3.60%||3.60%|
|04:30||GBP||Core CPI (YoY)||2.3%||2.4%|
|04:30||GBP||House Price Index (YoY)||2.3%||1.9%|
|04:30||GBP||PPI Input (YoY)||0.8%||0.4%|
|04:30||GBP||PPI Input (MoM)||-1.1%||-0.1%|
|04:30||GBP||PPI Output (YoY)||1.5%||2.0%|
|04:30||GBP||PPI Output (MoM)||0.2%||0.3%|
|09:00||EUR||French 12-Month BTF Auction||0.033%|
|09:00||EUR||French 3-Month BTF Auction||0.005%|
|09:00||EUR||French 6-Month BTF Auction||0.014%|
|10:00||USD||Treasury Secretary Lew Speaks|
|11:30||USD||4-Week Bill Auction||0.010%|
|11:30||USD||FOMC Member Bullard Speaks|
|12:30||CHF||SNB Chairman Thomas Jordan speaks|
|12:45||CAD||BoC Gov Carney Speaks|
|13:00||USD||FOMC Member Dudley Speaks|
|16:30||USD||API Weekly Crude Stock||-0.36M||1.11M|
|16:30||USD||API Weekly Gasoline Stock||0.12M||-0.48M|
|20:30||AUD||Westpac Consumer Sentiment||-5.10%|
-Analysis: Some Republicans see new scandal in Sebelius fundraising
-Israel fires back at Syria after gunshots at its troops http://reut.rs/19YDidR
-Brazil probes rumor that set off panic run on state bank http://reut.rs/Z9hI6O
-Goldman exits China’s ICBC, seven years and billions later http://reut.rs/19YoD2i
-Freeport death toll rises to 21 as Indonesia reviews all mines http://bloom.bg/14LJu7W
-Japan Ready for More Yen Weakness http://on.wsj.com/117d2OQ
-Tepco surges on fourth day on speculation of reactor restart http://bloom.bg/164dX5I
Down with England. Down with the racist, anti-gentile English elites and their sycophant hoard. Down with the crown.
- A good use for your old flouride toothpaste as you don’t brush with fluoride tooth paste and the NWO poison.
Tell a friend.
-Buy Made in the USA
The cats meow, Sloggers, made in the USA and dirt cheap per mile trod. Easy on garden beds and the grass. If only they had a steel toe version. But fine for light digging. Tell a friend.
-How to live longer and feel better
The man who gave us the first functional cure for cancer, Dr. Linus Pauling and liberated the educated masses. Tell a friend.
Says his family is from Greece. You can see why the Rabbis say the Greeks are the sons of Ashkenaz and why the English Royal family , which is very, very Jewish married into the Greek Royal family. I don’t have slits for eyes. You would think he had enough money to get the forehead lift, a better nose job than when he was younger and the eyelids fixed to at least look like a gentile.
There’s an intriguing story behind the Swedish entry in the America’s Cup competition, the team whose boat capsized during a training run on the bay Thursday, killing a sailor.
The Artemis Racing team is being financed by one man alone — Torbjörn Törnqvist, a Swedish oil trader with some powerful Russian connections.
Törnqvist is reportedly worth more than $8 billion. That’s a lot, but it’s not in Oracle rival Larry Ellison’s league — he’s up around $43 billion. And unlike rivals Oracle USA, Emirates Team New Zealand and fashion house Prada’s Luna Rossa of Italy, Törnqvist’s Artemis Racing team doesn’t have a single corporate sponsor.
The Cup challenge is costing him a small fortune.
There’s the $8 million just to design and build the 72-foot racing sailboat. Törnqvist has also paid to move a crew of more than 70 — along with their families — to Alameda. And he’s spending $20,000 a month to rent a hangar at the former Alameda Naval Air Station and thousands for a nearby gym.
His crew even rented a movie theater in town several weeks back for a big community show-and-tell, where they aired video of the team and gave autographs.
Add it all up, Cup officials tell us, and Artemis Racing will probably spend upwards of $60 million before the competition is over.
“Our budget isn’t public,’’ said Jennifer McHugh, spokeswoman for Törnqvist’s team. “But it’s in that price range.’’
And yes, she confirmed, Törnqvist is paying for it himself.
As for how Törnqvist got so rich?
According to published reports, Törnqvist worked at BP before teaming up in 1999 with Russian-born oil trader Gennady Timchenko to form a company called the Gunvor Group. They expanded into oil terminals and coal and got their big break when the Kremlin broke up the oil giant Yukos, allowing Gunvor to get in on a big piece of Russia’s oil export business.
Gunvor is now among the largest crude traders in the world.
Among the treasure trove of documents in the famous WikiLeaks release of government communications was a 2008 cable from the U.S. ambassador in Russia to his bosses in Washington. It linked Russian President Vladimir Putin to Timchenko and passed along rumors that Putin had a stake in Gunvor.
The cable offered no hard facts, however, and Putin has denied playing any part in his longtime friend Timchenko’s business affairs.
Törnqvist himself told Reuters in 2007 that “to involve Mr. Putin and any of his staff in this dialogue is speculation.’’
Törnqvist was in the Bay Area in February to check on his team’s progress and is expected to return for the Cup races starting in July. In the meantime, he’s spending at least some of his time in his home in tax-friendly Switzerland.
Well I hope to see him at the America’s cup. Widely popular with patriots ex the Alex Jones British-Israel gang!!! Go Putin!! Russians settled California with the Spanish they have far more legitimate spiritual claims than the hellish English Crown and the ‘Levi Strauss’ crowd that flooded the states and murdered, indeed nearly wiped out the entire indigenous population in their gold and oil and land grab. In CA russian should be our first language, Spanish our 2nd , french our third and we should ban anyone speaking English and send the Anglosaxons and Jews back to ‘New England’ and break off from the so called hellish Union. Too hell with these vile New Englanders like Jerry Brown and his East Coast Jewess, and Nancy the Jew Pelosi and Boxer and Feinstein and Meg Whitman and Gray Davis if they don’t repent of their destruction of CA, via Fukushima and Chemtrails and financial crimes and pushing Feminism and LGBT ‘values’. CA voted against this. CA has not had a fair election in decades as Jews and Anglosaxon count the votes. Send the evil Jew Mark Yudof of the Univ of CA, the Zionist filth back to Texas, England or Israel, his choice.
-Calpers to force Dimon out
-English have defacto victory in Eurovision, stooge Hollande trying to kill French Language for English. Israel boasts of ‘being one’ with Europeans. Muslims and Turks next!!
-HK unexpectedly Closes Gold/Silver Futures exchange forces cash settlement
-South Korea threatens to intervene in Won
-PBOC Says HK Property bubble
-Hedgies make big short play in gold, Media bashes as does WS as POTUS is melting down like the wicked witch of the west.
-YHOO In $1 bln+ deal to buy Tumblr
-North Korea test fires missiles over Sea of Japan for 2 rd day
-Hezbollah enters Syria Fray on Assad side as war spills into Lebanon.
-Syria on the cusp of deadly S300 missiles. Israel claims s300 missiles and Russian crews in Syria, threatens russian troops through press/propaganda organs.
-Eye on London!
Police investigating allegations of rape and sexual assault against Deputy Speaker Nigel Evans raid his offices in Parliament.
A British father is expected to be formally charged with slitting the throats of his two young children in France. (The ZGR was not kidding you when we said many French lock their children up when the English are out and about).
The Hungarian prime minister has drawn outrage in Germany after drawing parallels with comments made by Angela Merkel about sending “cavalry” to Hungary and the Nazi occupation of his country. Hungary is ignoring EU demanded ‘austerity’ and cracking down on Merkels Jewish banking criminal relatives. She is crazy as a loon like John McCain. Few see it.
Plans to ease a ban on the use of English in French universities will be debated, with unions threatening to strike in protest at a measure some claim will turn French into a “dead language.
-See you in Asia tonight. Due to hacking and constant intrusion attempts I will probably reduce the time the blog is ‘hot’.
11:47 a.m. EDT 05/20/13Major Stock Indexes
Today is Whit Monday in Europe, primarily celebrated still by the Eastern Orthodox but many Europeans take the day off, although it is not a bank Holiday and main markets are open. Little happened in EU markets of note today ex the ESM trying to grind the markets higher on poor econometric data out of Italy and Rhen saying he was happy with Italy’s empty promises to deal with exploding deficits and debt. Eurovision talk substitutes for Whit Monday among the extraordinary evil London traders. Everyone in Europe is an Israeli now and speaks English according to Eurovision. Hollande is literally trying to kill the French Language for English, proving who really runs Europe and France.
|Stoxx Europe 600||309.42||0.70||0.23|
|France: CAC 40||4018.36||17.09||0.43|
|Italy: FTSE MIB||17497.15||-107.46||-0.61|
|Sweden: OMX Stockholm||388.82||-0.63||-0.16|
|UK: FTSE 100||6750.37||27.31||0.41|
USA markets tried to sell off on the Chicago FED Nat Activity Index but the PPT stepped in on a low volume day. I went long the open and sold , and bumped up my SP/DIA shorts. USA equity markets are near flat.
UST Sec Lew said Congress must act soon to protect the credit worthiness of the US – letter to Congress; Treasury’s extraordinary measures will expire after September 2 yet cannot provide exact estimate on how long the measures will last, will not negotiate with Congress over the debt limit; Confirms Treasury will begin its extraordinary measures after reaching the debt limit.
Manufacturers Caterpillar and Emerson released monthly statistics that amplify the poor manufacturing sector numbers seen in recent data reports, including very poor regional FED April manufacturing reports and the March factory orders and durables data. Both firms saw mid single digit declines, in orders for Emerson and dealer sales for Cat.
Yahoo said it would acquire trendy blogging site Tumblr for $1.1B in cash. Tumblr will maintain a degree of independence in managing its 108 million blogs with CEO and founder David Karp at the helm, per Yahoo’s promise “not to screw it up.” There has been plenty of skepticism about the deal, and Yahoo warned Tumblr would not contribute to its bottom line until 2014 at the earliest. This is ‘cash’ not shares, making the deal all the more ludicrous.- Websense agreed to be acquired by Vista Equity Partners for $24.75/shr in cash, in a deal valued at $1B. The company is trying to transition from its roots blocking inappropriate websites in the workplace into a provider of broader online-security services. Vista paid too much. Actavis will acquire Warner Chilcott in all-stock deal valued at approx $8.5B. Warner Chilcott shareholders will receive 0.160 shares of new Actavis for each Warner Chilcott share they own, which equates to a value of $20.08 based on Actavis’ closing share price of $125.50 on May 17th. The acquisition is supposed to make into Actavis the premiere women’s health company, yet they promote the often fatal AMA party line.
Shares of JA Solar are up 30% after the firm lost less than expected in its Q1 and revenue was way above par. The firm’s margins tripled on a y/y basis. The Chinese solar panel manufacturer saw robust growth in shipments to Japan. Other Chinese solar names are m,arching higher as well this morning.
PIMCO El Erian likened Gold to APPL and Facebook stock, and said the price had become divorced from ‘fundamentals’ in the FT in one of the biggest lies of all time, deny the desperation of the City of London to cover naked shorts and try and force gold producers into hedging. Always the FT leads the gold bash with its whores. I guess Arabs can get a seat in the bunker. Print up 1 trillion a year in deficits, run a .5 tln a year trade defict and print up 1 trillion a year and the fundamentals get worse for gold. Probably his article marks the bottom. Hitler would have been proud. FED head Fisher was making the TV rounds preaching his tapering QE claiming he has support, eventhough the WSJ shill was forced to recant that line on Friday, and he is a non voting member.
Calpers voted to unseat the extraordinarily evil and corrupt Jamie Dimon from his high post, virtually sealing his fate and forcing him out as CEO. I presume he will resign or take the largely supervisory Chairman position. Filthy pig Zionist demon.
USA Economic Releases
(US) Apr Chicago Fed Nat Activity Index: -0.53 v -0.23 prior
(CL) Chile Q1 GDP Q/Q: 0.5% v 1.0%e; Y/Y: 4.1% v 4.5%e
(CL) Chile Q1 Current Account: -$1.7B v -$1.8Be
11:16 a.m. EDT 05/20/13Markets Diary
-Europe Economic Releases
(EU) European Parliament plenary session
(EU) ECB: €122M borrowed in overnight loan facility vs. €106M prior; €83.0B parked in deposit facility vs. €96.7B prior
(IT) Italy Mar Industrial Orders M/M: 1.6% v 0.6%e v -2.5% prior; Y/Y: -10.0% v -8.4%e
(IT) Italy Mar Industrial Sales M/M: -0.9 v -1.1% prior; Y/Y: -7.6% v -6.0% prior
(IT) Italy Mar Current Account: +€1.9B v -€1.6B prior
(PT) Portugal Apr Producer Prices M/M: % v 0.1% prior; Y/Y: % v 1.5% prior
(PL) Poland Apr Avg Gross Wages M/M: -0.1% v -0.9%e; Y/Y: 3.0% v 2.2%e
(PL) Poland Apr Employment M/M: -0.2% v -0.1%e; Y/Y: -1.0% v -0.9%e
China may expand property tax trial to several cities during the current year.
China and India issued a joint statement Monday highlighting their commitment to expanding common ground in bilateral cooperation and coordination in various fields.
HK Gold Silver Exchange closes forces cash settelment
The Hong Kong Mercantile Exchange, operator of an electronic platform for trading in gold and silver futures, has given up its licence from the local securities regulator to provide automated trading services.The Securities and Futures Commission said in a statement the Hong Kong-based operator had decided to surrender the licence because it felt trading revenues had not been sufficient to support operating expenses.”With immediate effect no new orders may be placed and all open positions will be financially settled at the settlement price determined by the Hong Kong Mercantile Exchange and its designated clearing house,” the operator said in a statement on its website at the weekend.The HKMEx intends to re-apply for the service with stronger and more effective market maker programs, it added.The HKMEx launched electronic trade in gold futures in May 2011 and in silver futures that July, and had plans to launch contracts for base metals. It was once named by the media as a potential buyer of the London Metal Exchange, which the Hong Kong Exchanges and Clearing purchased last year. Reuters
Per sources the cupboard was bare.
South Korea Fin Min Hyun said South Korea to ease KRW movement if fx volatility intensifies; closely monitoring foreign capital flows but no immediate plans to strengthen foreign capital controls North Korea said to have fired 3 additional short-range projectiles into Eastern Water.North Korea official: Exercising sovereign right to test rockets South Korea Defense Ministry Kim said North Korea has yet to finish developing 300-millimeter-caliber multiple rocket launchers.
Late Releases from Asia
(JP) Japan Mar Final Leading Index CI: 97.9 v 97.6 prelim; Coincident Index CI: 93.8 v 93.3 prelim
(JP) Japan Apr Nationwide Dept Store Sales Y/Y: -0.5% v +3.9% prior; Tokyo Dept. Store Sales Y/Y: 2.1% v 6.4% prior
(JP) Japan Apr Final Machine Tool Orders Y/Y: -23.6% v -24.1% prelim
(JP) Japan Apr Convenience Store Sales Y/Y: -2.6% v -0.4% prior
(TW) Taiwan Apr Export Orders Y/Y: -1.1% v -1.0%e
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1471.74||17.67||1.22|
|Australia: All Ordinaries*||5185.40||25.60||0.50|
|China: DJ CBN China 600*||21933.72||162.00||0.74|
|China: DJ Shanghai*||297.79||2.32||0.79|
|China: Shanghai Composite*||2299.99||17.12||0.75|
|China: Shenzhen Composite*||1016.92||14.37||1.43|
|China: Shanghai 50*||1861.25||17.44||0.95|
|Hong Kong: Hang Seng*||23493.03||410.35||1.78|
|India: BSE Sensex*||20223.98||-62.14||-0.31|
|India: S&P CNX Nifty*||6156.90||-30.40||-0.49|
|Indonesia: JSX Index*||5214.98||69.29||1.35|
|Indonesia: JSX BISNIS 27*||438.21||6.79||1.57|
|Indonesia: JSX Islamic*||709.46||12.88||1.85|
|Indonesia: JSX LQ-45*||884.13||14.11||1.62|
|Japan: DJ Japan TSM*||790.91||10.77||1.38|
|Japan: Nikkei 225*||15360.81||222.69||1.47|
|Japan: TOPIX Index*||1269.51||16.27||1.30|
|Malaysia: DJ Malaysia TSM*||3399.97||29.18||0.87|
|Malaysia: FTSE Bursa Malaysia KLCI*||1777.15||7.99||0.45|
|New Zealand: NZX 50*||4598.65||0.81||0.02|
|S. Korea: KOSPI*||1982.43||-4.38||-0.22|
|S. Korea: KOSPI 50*||1688.72||-0.53||-0.03|
|S. Korea: KOSPI 100*||1959.28||-1.92||-0.10|
|S. Korea: KOSPI 200 Composite*||258.60||-0.39||-0.15|
|Singapore: FTSE Straits Times*||3454.23||4.93||0.14|
-What the USA is all about
-What Europe is all about-Eurovision poster
Nice little Monarch butterfly. Nice touch by the English/MI6.
Yeah, we know Eurotrash, you are one with the Windsors-Rothschilds and their apartheid satanic Zionist state of Isra-hell. You Eurotrash won’t like I hell.
-I shorted the DAX opening. This has gone far past mania land with the ESM bs. Now is the time at least for me to start to pile in and take more risk. This is a nothing bubble compared to some of the bubbles I rode up then down in 2001 in tech. Push it higher Regling you Zionist whore from London and Moore Capital. What a complete Fraud the EU equity and bond markets are.
-The Anglo-Zionist Gulag of Manhatten
Yet the USA, once one of the most free countries on earth, is no longer free. It is rapidly becoming a militarized gulag society – a giant open air prison. The faster Americans lose their freedom, the louder their leaders chant empty, Orwellian freedom slogans. And the loudest and most Orwellian symbol of American unfreedom is the new World Trade Center skyscraper officially named the Freedom Tower, which might more appropriately be called the Unfreedom Tower.Appropriately enough, the new Unfreedom Tower will be surrounded by $40 million dollars worth of “security infrastructure” including bollards, dual-barricades, street barriers and 11-foot-tall security booths. New York Business Journal lamented the situation in its recent headline: “World Trade Center or armed camp?” According to the New York Times, Lower Manhattan will become “a fortresslike environment” featuring “a fortified palisade of guard booths, vehicle barricades and sidewalk barriers.” New York Magazine quoted one of the planners: “You have these checkpoints that make it look more like an armed camp or a gated community.”..
Boycott NYC and NJ and Boston and Washington DC, aka New England or New Israel. Too hell with New England and all the people therein, if they won’t repent of their false flags, greed, fear mongering and Anglo-Zionist madness. I’m tired of the Harvard/Yale/Oxford/Cambridge ‘New Englanders’ destroying this country be it 911, Sandy Hook or the Boston Massacre false flags. Get your butts back on the Mayflower and go home if you’re a crown loyalist or anglophile or zionist scum.
-GS cut John Deere to Sell..
Good luck with that one Blankfein. GS thinks it is god. Pride comes before the fall. Dimon on Tuesday, you’re next freak.
-Hedge-fund managers are making the biggest ever bet against gold as billionaire George Sorossold holdings last quarter and Goldman Sachs Group Inc. predicted more declines after the longest slump in four years.The funds and other large speculators held 74,432 so-called short contracts on May 14, U.S. Commodity Futures Trading Commission data show. That’s the highest since the data begins in June 2006 and compares with 67,374 a week earlier. The net-long position dropped 20 percent to 39,216 futures and options, the lowest since July 2007. Net-bullish wagers across 18 U.S.- traded raw materials rose 1.1 percent to 588,482, led by gains in hogs, corn and cotton.Gold prices that surged sixfold in the past 12 years fell 20 percent in 2013, including an eight-session slump through today in the longest since March 2009. Soros joined funds managed by Northern Trust Corp. and BlackRock Inc. in cutting holdings of exchange-traded products in the first quarter. ETP assets are now at the lowest since July 2011 after some investors lost faith in gold as a store of value amid improving economic growth, low inflation and a rally in equities.“Gold has faced disappointment after disappointment,” said John Stephenson, a senior vice president and fund managerwho helps oversee about C$2.7 billion ($2.65 billion) at First Asset Investment Management Inc. in Toronto. “It’s had a 12-year run, but the whole fear-mongering that the world is going to end is just not working. So, I think that any last vestige of an investment thesis for gold has been stripped.”…
-Prime Minister David Cameron wrote to the Cayman Islands and nine other U.K. territories to request action to tackle company tax evasion as Britain prepares to host the Group of Eight summit next month.“We need to know who really owns and controls each and every company,” according to the letter, released today by Cameron’s Downing Street office. “This goes right to the heart of the ambition of Britain’s G8 to knock down the walls of company secrecy.”Cameron asked the countries to set up central registries that contain information on the owners and controllers of every company, and for this information to be made available to law enforcement and tax collectors. He asked the nations to attend an event on June 15 to indicate progress on tax, trade and transparency.He said that while countries have the right to set low taxes, they’re sustainable only if “what is owed is actually paid — and if the rules to achieve this are set and enforced fairly to create a level playing field right across the world,” he wrote. “There is no point in dealing with tax evasionin one country if the problem is simply displaced to another.”The letter was also sent to Bermuda, the British Virgin Islands, Gibraltar, Anguilla, Montserrat, Turks and Caicos Islands, Jersey, Guernsey and the Isle of Man.Cameron sent his letter as European Union leaders prepare to meet this week also to discuss tax evasion. The leaders of the 27-member bloc, including Cameron, will meet in Brussels May 22 to agree on a plan governing how EU countries share tax data after finance ministers last week failed to reach a decision. BBN
-A flagship British government scheme to boost mortgage lending must not become permanent like in the United States, outgoing Bank Governor Mervyn King said on Saturday.King’s warning follows criticism that the plan will encourage the kind of risky lending that precipitated the 2008 financial crisis.”We do not want what the United States have, which is a government-guaranteed mortgage market, and they are desperately trying to find a way out of that position,” King told Sky news.
-Goldman Sachs CEO Blankfein: Risk of a euro break-up is smaller than a year ago; Political will behind common currency still intact – German press
- ECB’s Weidmann: Improved lending conditions and lower interest rates should not lead to complacency about euro zone crisis – German press
Asian markets were up with a blast, ex Korea where North Korea’s ‘test firing’ missiles into the sea of Japan weighed on sentiment as the South Korea govt called the firing ‘grave’. Japan’s Nikkei finished up 1.5% at 15,360.81.EconMin Amari briefly thwarted the the yen’s decline at the open, suggesting that excessive gains have already been corrected by a large amount and any further weakness could actually become a detriment. Additionally, Amari said it will be up the govt to minimize volatility resulting from an abrupt shift from bonds to stocks. BOJ Gov Kuroda added to that noting it is natural for long-term JGB yields to rise as inflation expectation pick up, but also warned the central bank actions would prevent yields from rising too steeply. After strong preliminary Q1 GDP, Japan Cabinet Office upgraded its economic assessment for the month of May following a pause in April, noting exports are showing signs of recovery and output is gradually recovering. USD/JPY briefly fell o all the way to ¥102 handle before recovering back above Y102.30 later in the day.
China property sector remained white hot, despite government steps to curb housing inflation, including limiting price appreciation in certain cities. April property prices across 70 cities rose 4.9% y/y – the biggest increase since Apr 2011 – while m/m growth was at 1.0%, down from 1.2% in March. Analysts are increasingly concerned that policymakers will be able not be able to control property market gains, just as China Academy of Social Sciences (CASS) warned about risks of property/financial bubble building in Hong Kong. Shanghai is up .8 % and HK is up 1.59 %.
(CN) CHINA APR NEW HOME PRICES M/M: RISES IN 67 OF 70 CITIES VS 68 PRIOR; Y/Y: PRICES RISES IN 68 OF 70 CITIES VS 67 PRIOR
(TH) THAILAND Q1 Q/Q: -2.2% V -1.5%E; Y/Y: 5.3% V 6.0%E
(NZ) NEW ZEALAND APR PERFORMANCE SERVICES INDEX: 56.1 V 55.6 PRIOR
SLV: iShares Silver Trust ETF daily holdings fall to 10,252 tons from 10,321 tons (lowest since Jan 15th) – update as of May 17th
GLD: SPDR Gold Trust ETF daily holdings fall by 3.0 tons to 1,038.4 ton (lowest since 1,038.2 in Mar of 2009) – update as of May 17th
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1469.94||15.87||1.09|
|Australia: All Ordinaries||5188.10||28.30||0.55|
|China: DJ CBN China 600||21971.83||200.11||0.92|
|China: DJ Shanghai||298.16||2.69||0.91|
|China: Shanghai Composite||2302.12||19.25||0.84|
|China: Shenzhen Composite||1014.76||12.22||1.22|
|China: Shanghai 50||1866.44||22.63||1.23|
|Hong Kong: Hang Seng||23450.63||367.95||1.59|
|India: BSE Sensex||20425.77||139.65||0.69|
|India: S&P CNX Nifty||6222.75||35.45||0.57|
|Indonesia: JSX Index||5217.13||71.45||1.39|
|Indonesia: JSX BISNIS 27||439.20||7.78||1.80|
|Indonesia: JSX Islamic||710.95||14.37||2.06|
|Indonesia: JSX LQ-45||885.06||15.03||1.73|
|Japan: DJ Japan TSM*||790.98||10.84||1.39|
|Japan: Nikkei 225||15334.66||196.54||1.30|
|Japan: TOPIX Index||1269.51||16.27||1.30|
|Malaysia: DJ Malaysia TSM||3393.72||22.93||0.68|
|Malaysia: FTSE Bursa Malaysia KLCI||1776.82||7.66||0.43|
|New Zealand: NZX 50*||4598.65||0.81||0.02|
|S. Korea: KOSPI||1985.22||-1.59||-0.08|
|S. Korea: KOSPI 50||1691.33||2.08||0.12|
|S. Korea: KOSPI 100||1962.40||1.20||0.06|
|S. Korea: KOSPI 200 Composite||259.00||0.01||0.00|
|Singapore: FTSE Straits Times||3449.45||0.15||0.00|
|US Cotton No.2||86.53||+0.18||+0.21%|
|US Coffee C||137.00||-3.25||-2.32%|
Japan 10yr 0.85+0.04, -5.39%
-Yahoo’s board approves a cash deal for social site Tumblr, The Wall Street Journal reports. Yahoo could announce the deal as soon as Monday. The deal is valued at just over $1 billion
-Insanely evil Jew, and 911 master planner..
Israeli Prime Minister Benjamin Netanyahu has reiterated threats to launch more attacks against Syria, saying Israel remains prepared to “take action” against Syria for the sake of Israeli security.
Netanyahu warned of the “leakage” of weaponsfrom Syria into neighboring Lebanon as a primary reason for such moves, though officially the Israeli government hasn’t admitted its past attacks and has only vaguely referenced them.
Netanyahu also denied previous reports, attributed to Israeli intelligence agencies, saying his government preferred Syrian President Bashar Assad to the rebels. Netanyahu insisted it was “untrue” but didn’t say if he preferred one side or the other.
That’s unlikely to change, as both Syria’s government and rebels have tried to claim Israel was backing the other, in hopes of gaining popular support by being on the opposite side. The reality is that Israel’s attacks don’t seem to be aimed at anything in particular related to Syria’s civil war, and are simply attacks centered on Israel’s belief that there won’t be retaliation.
-Hezbollah to the rescue
Recent Israeli attacks had Hezbollah leader Hassan Nasrallah promising more aid for the Syrian military, and it seems his militia is making good today, as a joint force ofSyrian soldiers and Lebanese fighters attack the town of Qusair, along the border between the two nations.
The town has been held by Syrian rebels for quite some time, and is now facing Hezbollah shelling as well as advances by Syrian troops, with rebels claiming “at least 32″ people killed, though some factions are as usual claiming far more deaths than others.
Rebels also reported that Hezbollah commander Faid al-Jazzar was slain in the fighting in the town. Jazzar was held in an Israeli jail for 14 years for “membership in an illegal organization.” Rebels also reportedly shelled a Lebanese town on the other side of the border, but no casualties were reported there.
Hezbollah has had a limited but meaningful role in Syria’s civil war, though up until now it had primarily focused on protecting Shi’ites in border villages and religious sites from rebel attack.
The renewed fighting at the border has also started the sectarian clashes in Tripoli all over again, with reports of at least one person killed and four wounded in fighting between the city’s Alawite and Sunni neighborhoods.
King James Version (KJV)
19 Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord.
|04:00||EUR||Italian Industrial New Orders (MoM)||-0.8%||-2.5%|
|04:00||EUR||Italian Industrial Sales (MoM)||-1.00%|
|04:30||HKD||Hong Kong Unemployment Rate||3.50%||3.50%|
|08:30||USD||Chicago Fed National Activity||-0.23|
|09:00||EUR||French 12-Month BTF Auction||0.033%|
|09:00||EUR||French 3-Month BTF Auction||0.005%|
|09:00||EUR||French 6-Month BTF Auction||0.014%|
|11:30||USD||3-Month Bill Auction||0.045%|
|11:30||USD||6-Month Bill Auction||0.080%|
|13:00||USD||Chicago Fed President Evans Speaks|
|18:45||NZD||Visitor Arrivals (MoM)||1.0%|
|20:00||AUD||CB Leading Index (MoM)||0.3%|
|21:30||AUD||Monetary Policy Meeting Minutes|
|23:00||NZD||Credit Card Spending (YoY)||3.6%|
|23:00||NZD||Inflation Expectations (QoQ)||2.2%|
-This Is No Ordinary Scandal
Political abuse of the IRS threatens the basic integrity of our government.
-Japan’s ’3 Arrows’ May Run Into German Wall
-Australian Idiot or Liar heaps praise on F-35, says rivals years behind
-Job market gains could lead Fed to taper QE3 early http://reut.rs/14jEUht
-BOJ may seek ways to calm bond market, policy on hold http://reut.rs/11QcNtf
-Another Anglosaxon-Jewish luciferian couple
Spiderman is a product of the Jewish mind and emblematic of the Talmudic Jew’s desire for ‘super powers’ via genetic engineering over the gentile. How do such physically ugly people make it in Hollywood? Easy, it is all controlled by the Windsors-Rothschilds. Hollywood is a suburb of London these days sadly as well as one of their favorite drug laundries. The visage of the slaver is always reviled and despised. Control of your thoughts, then physical control and subjugation , and ultimately even death by the hands of the Anglosaxons and Jews. It would not surprise me at all given how the Romans used conscripts if the Roman soldiers who nailed Jesus to the cross were not Italians but the forefathers of the people who call themselves ‘English’ to this day.
-Texas Anglosmasonic Police State
Cops killing and tasering kids at school. Texas is like California, virtually every governor has been a hate filled Anglomason. Whereever Anglosaxon govt goes, be it the British Empire in India, China, or Canada or Ireland or Texas schools they create misery and death and cruelty. I suppose the infamous homosexual and war criminal and mass murderer of women and children Lord Kirchner of England who invented the concentration camp in its modern form would be proud. Frankly as a person of European American heritage, I think you nasty Anglosaxons and your Masonic death cult might be more than 1/2 the problem in the USA. A tiny minority the Anglosaxons, their oppression will not go on forever. The ZGR is waking people up. Scorn to the Anglomasons and their allies. Notice the English crown is right on top of this new , ‘Texas’ model of the school as a modern concentration camp Lord Kirchner would be proud of.
The reason Ca and Texas dominated by Anglomason is that both had ‘gold rushes’, in Texas, ‘black gold’ and in CA, ‘black gold and gold-gold’. The crown sent its hellions in both Jewish and Anglosaxon to dominate the politics of those states to make sure the Royal Anglo-Jew clans was at the head of the table, indeed at all the chairs at the rich table of California and Texas.
The problem really is letting women teach boys. Most women are unfit intellectually, morally, spiritually or physically for work outside of the home as the wife and none are suited to teaching your son, even at a young age. Letting women take over the schools has been the death knell for the USA educational and moral system.
American women as an aggregate seem to be fit only for Communist Chinese sex slaves when they come. The Chinacoms better have them tested for STDs and put the Anglosaxons women in camps as most are nuts I have encountered in the USA.
Used to be the principals and vice principals were big strong men, along with the math and science and PE teachers. Not anymore, schools are LGBT now, and filled interestingly enough with mainly Anglosaxon women without real university degrees but fake degrees in ‘education’ .
Jews can fill in when the Anglomason is not available to the NWO at the schools but most often they are involved in ‘real’ public schools, aka Hebrew schools making sure their children are treated with love and taught real subjects.
Look it up all CA has every had has been Anglosaxon governors, and 2 jews. Texas is about the same but I think they had an Irishman or two sneak in early in the state’s History. Nothing but Anglosaxons for the last fifty years that is for sure in Texas.
I find it quite extraordinary that only the ZGR can seem to observe Anglosaxons are only 8 % of the USA and the Anglosaxon with the Royal surname is only 2 % , yet with the Jew, they have the cruelest of whips upon the backs of the American people. If you look at the number of websites ,although they are few that are anti-Zionist or just racist Anti-Jew reactionary sites due Jewish racism, or Mossad directed Anti-Jew operatives, it staggers the ZGR’s mind that I have found no one complaining about the brutality of the Cruel Anglosaxon-WASP in America and their very small numbers brutalizing the Gentiles. Be my guest please help start some more website discussing the English-Jewish-Satanic -nexus.
Alex Jones will sometimes attack the Jews for their criminality, although it’s rare, but he will never go near the deep , deep complicity of the Anglosaxon with world Jewry. Perhaps being an Anglosaxon married to a Jew, the ZGR it hits too close to home. His readers deserve the liberating truth of the ZGR, please help send them here, where I can break the thought control of world Anglo-Zionism over their minds, with your help of course.
Societies with weak homosexual men are easy to rule and enslave. Girls don’t like to fight or men like Brad Pitt who likes to wear his Jewish wife’s skirt in typical Anglo-Zionist cross dressing fashion!!
-Why has the Global press turned on their LGBT /Rainbow POTUS?
Nixon was for sure taken down by the Anglo-Zionists Woodward and Bernstein as he turned on the Big Jew Rockefeller and his cabal and stopped cooperating with the NWO agenda. He also was beginning to think a Jewish Cabal was running the world and made the mistake of telling the royal WASP Billy Graham whom he thought he could trust but who was working for the CIA/David Rockefeller. Likely Bill Graham more than anyone provided the impetus for taking Nixon down. Billy is a 33 degree Free Mason and Nixon was never a member of the Masons , nor were the Nixons English bluebloods like Billy Graham.
Now Obama’s homosexual contingent in Washington DC is turning on the great blow job ..er blow-hard in chief in the White House and we know the hate filled, extraordinary evil Anglomason Chris Matthews is a completely demonically animated jackal that will do anything for fame, money and power and his real Jewish girlfriends…er boyfriends..er friends.
Interesting, every single person listed in the article below is Anglosaxon or a Jew or Crypto Jew with only one possible exception, the man from Poland Zbigniew Brzezinski . The CFR like the Trilateral commission is primarily Anglo-Zionists. Brzezinski has all the features of someone who is half ashkenazi and half polish but for now lets pretend he is just a sold out gentile. In any event Brother Kapner, sort of the world’s leading web expert on the satanic Jews as Christian Jew says Brzezinsk is a member of the tribe. What is extraordinary really is the preponderance of Anglosaxons in the NWO and Anglosaxon with royal surnames, pretty much indicating, fealty is to the big Jew, Baron Jacob Rothschilds and the really Big Anglo-Jew Prince Charles of England.
Bibi Netanyahu and Ehud Barak were Knighted in Secret by the English crown a few years after 911, something the ZGR proved, but unfortunately our database was electronically wasted for revealing that. These people don’t want you to see the deep spiritual and tribal relationship between the Jews and English, and the NWO is in reality just the English or rather British-Israel empire in its new Corporate-Central Bank-Bank and puppet politician form. The ‘one’ connection you must not ‘make’ is that the English Crown is ‘the’ satanic power that rules the globe or is trying to, and for sure you must never be told to pray against that Satanic power in the name of Jesus.
One thing will get you outed, ASAP, is if you stop cooperating with World Jewry and their desire to rule the world form the English Crown which is certifiably Satanic and Kosher like the Spanish Crown and Dutch Crown. All these satanist bow to Queen Elizabeth, from the Satanic Popes, to Baron Rothschilds, to the G7 Leaders to European so called Royals. You might say the English crown is the seed of all evil in the world, the Rothschilds banking/Central bank empire is the root of all evil, and branches of evil are GS/JPM/DB/HSBC/Barclays/RBS/Citi/UBS/BAC, etc. The ‘fruit’ of the tree is the demonic pentagon and USA military industrial complex and SP500, and Global Dow, Wall Street and the City of London.
-Time for Holder to go
The American people have lost faith in U.S. Attorney General Eric H. Holder Jr., and he must be replaced, a top GOP senator said Sunday.“I lost confidence in the attorney general a long time ago over his cover-up of the Fast and Furious investigation,” said Sen. John Cornyn, Texas Republican, referencing Mr. Holder’s role in the infamous gunrunning scheme that went awry and cost the life of a U.S. Border Patrol agent.Calls for Mr. Holder’s ouster have grown louder since it was revealed the Justice Department gathered telephone records for at least 20 Associated Press editors and reporters in an attempt to find the source of a supposed national security leak.Those two scandals, Mr. Cornyn said, make clear that Mr. Holder must be dismissed.“I think it’s past time for him to go and for the president to appoint somebody who the public can have confidence in,” he said.
-Medical Firm Sues IRS
A healthcare provider has sued the Internal Revenue Service and 15 of its agents, charging they wrongfully seized 60 million medical records from 10 million Americans.The name of the provider is not yet known, United Press International said. But Courthouse News Service said the suit claims the agency violated the Fourth Amendment in 2011, when agents executed a search warrant for financial data on one employee – and that led to the seizure of information on 10 million, including state judges.The search warrant did not specify that the IRS could take medical information, UPI said. And information technology officials warned the IRS about the potential to violate medical privacy laws before agents executed the warrant, the complaint said, as reported by UPI.“Despite knowing that these medical records were not within the scope of the warrant, defendants threatened to ‘rip’ the servers containing the medical data out of the building if IT personnel would not voluntarily hand them over,” the complaint states, UPI reported.The suit also says IRS agents seized workers’ phones and telephone data – more violations of the warrant, UPI reported. The complaint alleges the IRS was “invasive and unlawful” and stole access to intimate medical records that included patients’ treatment plans and therapies, UPI said. The suit seeks $25,000 in compensatory damages, per violation. The records’ seizure could impact up to one in 25 Americans, UPI said.
-Satanic Jews Thwart Nationalist Ambitions and Natavist hopes in whatever country they are in
David Cameron has been dragged deeper into the ‘swivel-eyed loon’ row engulfing his party – after it was claimed that he used the insult himself to deride Euro rebels.
Tory Chairman Lord Feldman, a key member of the Prime Minister’s inner circle, was yesterday forced to deny he had used the term against Conservative grassroots supporters, saying the claims were ‘completely untrue’.
Mr Cameron put his reputation on the line by backing his Oxford University pal and tennis partner. But The Mail on Sunday can disclose that the Prime Minister was accused of using the same ‘swivel-eyed’ jibe last year.
-How England functions
Bribes, threats, gags and blackballs.
-ECB to become chief euro bank supervisor
One world govt continues its rampage. Rule by Jewish bankers and their kin and satanic associates.
-Brit Whistler Blower Emerges on GOOG tax evasion
The problem is there is nothing ‘illegal’ about it. Thank the USA Congress for that. The Brit was likely working for MI6 and is getting paid big money for his stolen data base, which is technically a crime.
-The Jewish taxman comes for everything you own ,then piles on debt on top of that..
More than 8,000 French households’ tax bills topped 100 percent of their income last year, thebusiness newspaper Les Echos reported on Saturday, citing Finance Ministry data.The newspaper said that the exceptionally high level of taxation was due to a one-off levy last year on 2011 incomes for households with assets of more than 1.3 million euros ($1.67 million).President Francois Hollande’s Socialist government imposed the tax surcharge last year, shortly after taking office, to offset the impact of a rebate scheme created by its conservative predecessor to cap an individual’s overall taxation at 50 percent of income.The government has been forced to redraft a proposed bill to levy a temporary 75 percent tax on earnings over 1 million euros, which had been one of Hollande’s campaign pledges.The Constitutional Council has judged such a high rate of taxation to be unfair, leaving the government to rehash it to hit companies rather than individuals.Since then, a top administrative court has determined that a marginal tax rate higher than 66.66 percent on a single household risked being considered as confiscatory by the council.Les Echos reported that nearly 12,000 households paid taxes last year worth more than 75 percent of their 2011 revenues due to the exceptional levy. ($1 = 0.7798 euros)
-Syrian soldiers have completed their training on the S300 surface to air missile systems (anti-aircraft) on Russian soil, according to a report on Israel Channel 1. The Syrian soldiers have spent the past two months training on the platform.Russia is expected to deliver the first missiles to Syria within two months.There is concern in Israel that the S300 systems will actually be manned by Russian troops in Syria.
Lights out for the cowardly Jews if Syria gets the S300. They will have to take heavy losses to bomb children again in Syria. Dead cowardly IDF scum hurtling to earth, the time has come. Looks like Putin really told Bibi to shove off.
Russia outs CIA chief in Moscow, Promises s-300 to syria
-Marine who dumped toxins felt cancer was payback
-Bernanke Speech just standard grad fare
-IDF Commando Filmed Crapping on Friend’s Head
Bizarrely enough there is a Jewish religious tradition for this. In the Talmud the stool of a Jew is considered to be sacred. As the ZGR documented many of these Jews that were caught in financial crimes after the 2008 melt down, had toilets literally made out of gold. The Jewish evangelist, Morris Cerrullo has his own private jet airline plane with a golden John on it. You might say the Talmudic Jew is literally a worshiper of crap. Satan is not known as the Lord of the flies for no reason. See Michael Hoffman’s book, Judaism Revealed if you want to study the Jews obsession with their own feces.
-9/11 Widow & Lawyer sanctioned by Corrupt Zionist Judge
Zionist Jews in a panic as their role in 911 become more obvious to all.
Denmark’s “Only Teardrops” by Emmelie de Forest wins Eurovision http://bit.ly/12Dc0IC
Song in ‘English’ wins, big surprise there. These contests are so rigged. Is English the new language of Europe? People speak their own language or the language of their conquerors.
-Too Rich To Pay: UK giants slash tax bills amid tense austerity
-Anglo-Zionist controlled IRS targets Christian groups
-Military Says No Presidential Authorization Needed To Quell “Civil Disturbances”
Rockefeller, Prince Charles, and Rothschilds are going to turn the dogs of hell, aka the Pentagon on the American people it looks like and maybe soon.
-Finally Airforce Whistle Blower comes forward on Toxic USAF Chemtrail sprying.
The USA military is going to rue the day it sold out to the devil and tried to take the country over. Eventually the NWO will murder the traitors in our own military simply as they know traitors cant be trusted to keep secrets. Who else is spraying this toxic brew all over the planet who else has over airbases in well over 100 countries of the world? A pox upon all the USA military leaders and their families who are doing this to all of the world. The USA military is so, so evil and foul. Pure Satanism at the top.
-FT Spy has Lunch with Confederate Jewess, Nancy P. Lousy
Kind of typical FT, BS, as he probably handed herorders from the big London Anglo-Zionists under the table. Rothschilds and Prince Charles checking up on Global warming agenda, and probably other things we are not told about. Plenty of Scots have sold out to the English Crown and the Rothschilds that is for sure. The English claim to have ‘absorbed’ 50 % of the Scots into the Anglo-Jewish bloodline. Annoying haughty English swine. Same patterns repeat, Jew-Jew, Anglo-Jew, Jew-Anglo, Anglo-Anglo. Pelosi is a sephardic Jew with the typical queer Son, daughters married to Jews and she speaks Hebrew with her grand kids.
She’s speaking to fellow Anglo-Zionist lawyers at their graduation from UC Davis which is not far from her weekend country home this weekend. I think the taxpayers pick up her private jet and body guard as she flies back and forth each weekend at our expense like a Queen. These Jews are something else at spending OPM on the Anglo-Zionist empire.
Plastic Surgery Freak to hide her Jew background. These are not photoshops!
-Jew at WSJ interviews Jewess Lagarde /IMF
Nothing new in the interview, FWIW. Typical NWO gabfest between two corrupt Jews. What is really said is ‘edited’ out to make sure know one knows what is going on but Justus Jews. Tight little network thieves have.
-Starbucks TV- Free Porn but no Iran Press TV!!
It is a Jewish world and you’re in it. Boycott this filthy place. Tell a friend. Ask them to tell a friend and tell that friend to tell and friend and start the chain of bringing this Zionist pig Howard Schultz down.
-Enron NG Market Rigger, collects his Billions and goes to work on one world agenda charity
Another Crown servant like Bill Gates. Another strange looking Anglosaxon.
Looks like he is advancing UN Agenda 21. The Crown has demanded the nouveau riche cooperate with them and donate their billions to the NWO cause. It is like the Mafia, once you’re a ‘made’ man you then owe the Mafia for making you your services for life.
-Crazy American Cop
Retired Philadelphia police officer Richard DeCoatsworth, 27, who was seated next to the First Lady during a presidential address in 2009 (left), was charged with rape, sexual assault and terroristic threats for allegedly forcing two 20-year-old women to use drugs and perform sexual acts. DeCoatsworth was hailed as a hero after he was shot in the face (right) during a traffic stop in September 2007 but still managed to chase after his attacker, who was later sentenced to 36 to 72 years in prison.
-Zionist Wall Street Journal Jamming ‘Eurovision’ , Eurotrash down America’s Throat
You tend to win, only if you’re a committed Satanist/LBGT/Zionist or amoral filth. I think the votes are rigged. Europeans literally goes nuts for this. I have never understood it. One world, one King, one religion. Most of the traders on Friday I monitor were talking more about Eurovision than the market , squandering their employers money and time. Trust me it wont be long before the USA and Canada send someone to ‘Eurovision’. Prince Charles will demand it. That cat probably picks the most evil person to be the winner. These low level celebrities , some gentiles , tend to all be satanists and very committed to the NWO.
-North Korea fired three short-range guided missiles into the sea off the eastern coast of the Korean peninsula on Saturday, South Korea’s defense ministry said.
-Another British-Israel Marriage Goes Sour
Why is it Jews only marry Jew or Anglosaxons? If this was England and everyone was more or less Jewish and Anglosaxons it might make sense but the USA has few of these Anglosaxons , especially with Royal surnames like this. The British Press really concentrates on Anglosaxon-Jewish relationships in the USA, indeed if you read the Mail you would think the USA was nothing but Anglosaxons and Jews. Same surname as the Anglosaxon firm, Platts at the center of the London Oil rigging scandal. I wonder if he is any realationship to Lucky Larry Silverstein. Jews are not allowed to Marry Christians and Christians, at least per the Bible are not supposed to marry Jews who have not converted to Christianity.
-More Americans committing suicide under Obummer than the Great Depression
The evil Darth Vader of our times.
-Chris Evert the Crazy slutty Anglomason
The more evil you do, the uglier you become. Granted most WASPs don’t have much to begin with and when that latent Ashkenazi gene comes out after 50, well even the best plastic surgeons have trouble right Mrs whatever your last name is now. Still crazy after all these years. Kind of the WASP equivalent of Goldie Hawn of Hollywood the Jewish slut that looks like hell as well after a hard life of debauchery. How was this ‘thing’ ever considered a great beauty? I always thought she looked like a donkey. I never saw more than 15 minutes of any films starring goldie hawn as her spirit was so profane I had to leave the theater. Chris Evert is actually your basic Church of England married and divorced more times than anyone can remember skank. No man was good enough for her yet she is as ugly as sin. She’s long overdue for being exposed for what she is. Repent.
-Crackhead Rob Ford with his good Queer Pal and #2 Mossad Agent in the USA Rahm Emmanuel
One a dirty filthy traitorous Zionist Jew who works for the Mossad, who wants to turn Chicago into Las Vegas and who is a big queer, the other a big fat Anglomason piece of crack smoking garbage who works for Prince Charles, also wants to turn Toronto into a zionist gambling and prostitution den. This is who runs the USA and Canada. The problem is they represent the Crown’s satanic view point and we are not Crown subjects in the USA, although Canadians are still in theory, and few of us are satanic Anglosaxons and Jews who want to turn our cities into Las Vegas. Even in Canada these fat pig Anglomasons are a small minority. It is time to put both these evil clowns back on the Mayflower and let them row their queer/fat bottoms back to England or Israel, their choice. These two would probably enjoy buggering each other and smoking crack on the row back across the pond while singing “god Save the Queens. ”
-Energy Dept. backs Texas LNG export plan
American women are so fat, lazy and such trashy slobs these days a lot might as well change their names to Windsor or Rothschilds. Can you believe this fat slob of a father and this fat slob of a mother. Thoughtless people go to Ziobucks coffee, and just think you might drink off a table at Starbucks where some Amerotrash fat slob of mom dumped baby poop all over the table for you and the starbucks idiot gave her the same rag he wipes the expresso machine down with to clean it up. What wimp of a father, fat slob. I dont know my generation was different, no one was fat as you could not get a job even as computer scientist or geek if you were and no one this stupid or thoughtless could father a child as they could not hold a job and welfare was non existent. What is wrong with using their car or an outside chair at least. egads. Amerotrash, the time has come for Prince Charles to cull you thoughtless loons I guess. Maybe he can start putting more poison into that lousy coffee Zionist bucks his loyal servant Howard Schultz the Jew serves . Same thing with you moms who think you can whip your tits out in public and breast feed your brat rather than carry a bottle or go some place discrete where we don’t have to watch the over- fed kid barf all over your saggy breast. I’m sick of that as well. This is not the middle east or africa you slobby american women. Shape up or ship out to england where you will fit right in regardless of your last name. Yech!! Well Zionists drink coffee at starbucks and zionists are the scum of of the earth and this proves it. Pity Howard Schultz’s poor slaves with graduate degrees who literally have to put up with crap for minimum wages.
-USA week ahead
Market participants will hear from many Fed policy makers this week with the key event being on Wednesday morning when Mr Bernanke is set to testify before the Joint Economic Committee on the economic outlook, followed by the release of the 1 May FOMC meeting minutes. Press reports concerning the Fed’s strategy for eventually winding down its current bondbuying programme have garnered market attention and discussion at the Fed’s May meeting could clarify current thinking, although we believe the timing of any tapering move remains undecided.
Existing home sales likely edged up 0.2% to a 4.93 million unit annual rate in April. Pending home sales, which typically help indicate upcoming final sales activity, were mixed over the past two months, with a 1.5% increase in March offsetting a 1.1% decline in February. The National Association of Realtors noted in last months release that, while the inventory of previously owned homes for sales increased slightly from last month from a seasonal gain, it remains 16.8% below it’s level last year, and represents only 4.7 months supply at the current sales pace. A housing supply of 6+ months is considered generally indicative of a balanced market between buyers and sellers. As buyers are eager to take advantage of low mortgage rates, the limited inventory may be holding back sales gains. We will continue to monitor the details of the report to see how buyers and sellers respond to the positive trends in the overall housing market.
We forecast a 1.9% gain to a 425K unit rate in new home sales in April. The April NAHB had reported a slight slowdown in sales activity, but that seems to have reversed in the May report, where homebuilders noted that buyers had a sense of urgency to purchase given the low inventories in the previously-owned home sales market. The NAHB survey indicated that expectations remain strong for growth in sales activity in the next six months, in line with our view that the pace of sales will improve moving into the second half of the year. New residential building permits also increased by a substantial 14.3% in April, with the number of homes permitted but not yet started rising 11.8%, suggesting that builders are preparing to increase activity to meet demand in the coming month
Durable goods orders likely rose 1.1% in April, as aircraft orders at Boeing rebounded slightly after last months sharp drop. Boeing received orders for 51 new planes in March, after receiving orders for only 39 planes last month, indicating that the change in transportation orders should add to the top-line orders figure, after subtracting significantly last month. Apart from that, the new orders index in the April ISM manufacturing survey picked up a bit, but remained at a level consistent with only modest expansion, while other regional surveys reported mixed orders activity for April. Our forecast for new durable goods orders excluding transportation is for a modest 0.4% increase.
-Head of Italian team Luna Rossa says he wants lower wind speed caps for the America’s Cup yacht races
This is ludicrous they are sailing in a sheltered bay not through the potato patch into a northwestern swell out of the gulf of alaska like they should to test their skill,and the boat and their resolve to win under adverse conditions. Too much is being made over one englishman whom for all we know may have been loaded and could not swim who died, and who was clearly fat and out of shape. Who cares? . The English are notoriously bad sailors, drunks and swimmers. The only reason to sail a cat, as ugly of a ship as they are, is to sail close hauled to the wind with the windward hull 10 degrees out of the water with as much sail and speed as you can carry without tipping, that is the name of the game. If they are going to cave to these eurotrash wimps, they should go back to traditional mono-hulled ships and sail outside of the Bay. Let this crybaby Italian skipper go home like the Eurotrash he is. This is inside the SF bay for heavens sake. I have never seen a day where it blew so hard you would hesitate to take a cat out on the Bay and keel it right in attempting to win a race if you had to. It is a gas. Of course you cant be a fat slob, have to be good shape and able to swim in addition to being a adventurous person. Cats are very forgiving if you know what you’re doing, unlike this English fellow whose team clearly did not know what they were doing in moderate winds. . The courses are already wimpy enough, for heavens sake. Is this an old timers event for 70 year old sailors or young men? Probably the 70 years would do better than todays generation of eurowimps. Go home eurotrash, this is the ‘America’s cup’. Not the Eurotrash or Englishtrash cup.
-Who is running Germany these days? Fat Dykes and Jews and Cross burners..aka Angela Rothschilds, nee Merkel, nee Kasner
Photograph by Jens Kalaene/EPA
A Barbie doll is burned on a cross during the opening of the Barbie Dreamhouse in Berlin on May 16
Germans have no fear of mocking God, their culture is doomed to be ruled by the antiGod Jews and LGBTs and communists
-How Prince Charles Spies use facerook and sh-tter.
Go Putin. Go Syria. Christian Syrians overwhelming support Assad. Down with the hate filled General Dempsey. Put him on trial for war crimes. Time for a regime change alright Dempsey but Syria is not the one Americans are thinking about pb.
Joint Chiefs of Staff Chairman Gen. Martin Dempsey has angrily condemned Russia for following through on agreed-to arms sales to Syria, insisting the decision to deliveranti-ship missiles to the war-torn nation risked prolonging the civil war.
The US and Israel have been petitioning Russia to back out of its arms contracts with the Assad government, though Russia has refused to do so, and today defended continuing its deliveries, saying the arms they are shippingare purely defensive in nature.
Indeed, it isn’t clear how today’s deliveries of anti-ship missiles would in any way impact rebels, and as with Syria’s acquisition of anti-aircraft missiles seems to be primarily aimed at discouraging foreign invasions.
Which is in no small part exactly why the US and Israel are objecting so loudly, as Israel has been attacking Syria outright in recent weeks, and the US has been talking up its own “military options,” and while none of Russia’s sales are likely to change that, they would make an offensive war against Syria much less convenient than it otherwise would be.
-Lol, those wild, wild WASPs!!
Only 60% of Rob Ford’s actions can be explained by crack cocaine
Same trend as last week. OI is relatively high at 800k+ contracts (options plus futures), hedgies are shorting, bullion banks are reducing exposure and going long. Same pattern in silver. Bullion banks are probably close to a net flat position this week. Still a bit on the short side as of Tuesday. This is not a particularly bullish report and the Bullion banks are doing their job to keep physical gold down. Nothing to get excited about as far as a quick reversal in this report. Could be we will have another month or so of grinding the bottom out as the Bullion banks dupe the hedgies again. And who believes the CFTC anyways? These reports could be completely fraudulent like the FED/ECB balance sheet. Enough ‘dirt’ has emerged that the FED has two sets of books. One CIA/MI6/Mossad run and one for public consumption. CFTC are all demonic Anglosaxon royals and their Satanic Jew banker first cousins and all East coast Wall Street trash..er Washington DC trash. At some point gold will sharply reverse, if only on all the CB agreeing to reflate or someone big bolting from the dollar /euro camp like China or the BOJ buying big in gold and the word leaking out to London or London simply not able to drain the GLD ETF anymore. Heres to all you great English thieves at the LBMA taking a flying leap out of some high tower in London hand in hand with your Jewish cousins you rig the markets with. Go ahead and jump you crooks. Clearly Iran and India and China gold demand are giving the LBMA a heart stopper. Letta the GS stooge is not at the helm of Italy for nothing. Regling probably buys down Italiian and Spanish debt the more gold the BOI and BOS sends to London for ‘safe keeping’, we know he does for Cyprus for sure. In England the bankers are tend to be anglomasonic pederasts and satanists versus the more prominent Jewish stanist banksters of Amerika like Bub Rubin and Tiny Tim and Lew the Jew. Janus had nothing on the NWO gods let me tell you dear readers. Enjoy your sodomy you Anglosaxon LBMA riggers your day is coming soon, you just don’t know it yet. Foul England, hellish England the seed, of all evil in the world.
-Europe the week ahead
EU leaders will meet in Brussels to discuss a wide range of topics with a particular focus on the efficiency of the tax policy in order to tackle tax evasion and fiscal fraud. Intense negotiations will likely take place after European finance ministers failed to find a deal on this matter during the last ECOFIN meeting. France and Germany have called for an exchange of information among member states on all type of income, including savings income, but Luxembourg and Austria have blocked negotiations, arguing that such an agreement should be extended to third countries (Switzerland, Monaco, San Marin, Andorre and Liechtenstein in particular). Another topic on the agenda will be energy, in the context of the EU’s efforts to promote growth, employment and competitiveness.
After a poor start to the current quarter flash Eurozone PMI indices likely rebounded in May (to 47.0 for the PMI manufacturing and to 47.4 for the PMI services), partially supported by the ECB’s decision to cut rates. Despite that expected improvement in May, and if our estimates are correct, at those levels Eurozone PMI indices would remain below their Q1 average, thereby suggesting a higher contraction of activity than in Q1. In order for our scenario for a stabilisation of activity in Q2 to materialise, a more sustained improvement in business confidence would be needed going forward, hopefully triggered by better financial conditions and higher external demand. In Germany, the deterioration in the forward-looking components of the PMI manufacturing last month would suggest a further decline in the index in May. Nevertheless we expect some improvement in business confidence to have occurred in May on the back of better weather conditions, falling commodity prices and a rebound in car registrations. French PMI indices likely continued to recover in May, albeit from low levels and below the Eurozone average, still suggesting a continued contraction of activity. Witnessing the deteriorated outlook in the French industry, the Insee quarterly survey, which measures investment plans from businesses in the manufacturing sector, showed that in April firms expected to reduce investment over the course of the year by 4% versus a stable expectation back in January. All in all, the Eurozone flash composite index is forecast at 47.3 in May, its highest since February.
The German IFO index of business climate is expected to increase marginally to around 104.7 after two months of contraction. We expect both the expectations and current conditions indices to improve in May.
With the growth outlook revised upwards and inflation projections seen as a little weaker in this month’s BoE quarterly inflation report relative to three months ago,the UK MPC minutes may reveal a more optimistic stance. In our opinion it suggests a lower appetite for asset purchases for the time being. The balance of votes likely shifted in favour of the status-quo camp as Governor King probably abandoned his preference for more asset purchases, judging from the upbeat tone of his quarterly press conference.
UK CPI inflation is expected to fall temporarily in April, from 2.8% YoY to 2.5% YoY, while printing a 0.3% MoM increase on the month. Favourable base effects in the energy component of the index (energy prices fell this year and increased significantly over the same period last year) were likely accompanied by a decline in core inflation (from 2.4% YoY to 2.2% YoY). We continue to expect a rebound in inflation in the near-term to a peak at above 3% in June and persistent above-target inflation thereafter.
UK GDP second estimate will likely confirm the 0.3% QoQ increase in GDP in Q113 (0.6% YoY). Of particular interest will be the expenditure breakdown, which we expect to show decent growth in household consumption and a positive contribution from inventories. Some recovery in business investment after an extremely weak Q412 also seems likely. By contrast, given the continued recession in the Eurozone, net trade likely continued to be a drag on growth.
UK retail sales likely rebounded in April after weather negatively affected sales in the non-food sector in the previous month (March was the second coldest month on record). Car registrations rose by a strong 9.4% MoM sadj. in April. Household consumption, which experienced a positive growth over the past year, will likely strengthen in the coming months, supported by rising asset prices and improving credit conditions.
Quote of the day:
“I think the central bank backstop from the ECB and recently from global central banks, notably the Bank of Japan, have helped to remove the tail risks. This time last year, the vast majority of investors I was talking to really thought that there was a genuine risk that the EUR would even last a year. So, a lot of this optimism in the financial markets were on the view that this tail risk has diminished; it’s not really on the idea that Europe would have any kind of strong growth any time soon…I don’t think we are even half the way through this crisis yet. There is a lot that needs to be happen in Europe. We still need to see more fiscal consolidation and the pace is slowing down. We still need to see more structural reforms… A weaker EUR is helpful but it is not enough; it’s not the most important factor. Global demand is much more important than the exchange rate. It doesn’t make that much difference if you have the most competitive currency in the world if there is no global growth.”
Janet Henry, London-based chief European economist at HSBC (Source: Bloomberg TV)
-Full out Gold Bash coordinated between the BOJ/MOF, PBOC, ECB, BOE, FED/UST; FT, WSJ, BBN as London GLD is drained in London to send physical Gold to Asia to meet demand
-China says EU$ main instrument of currency diversification; to expand EU investments
-Japan MOF pumps dollar as only reserve currency, GS raises Y/D to 110 by FY2013
-Tory Mayor Tom Ford of Toronto alledgedly caught smoking Crack cocaine and complaining about minorities
-Putin Dispatches a dozen warships to Syrian Waters to Warn Bibi and Europe and Royal EU Lackey Obama
Unfortunately not a Crown firm and one the Crown wants destroyed. Tim to think about booking profits I suppose, still its been a nice ride from five dollars against the shorts of GS, etc. Asians like it and engineers. The Crown would love to give this firm cheap to MSFT or GOOG.
-Rothchild b-tch Jim Rogers cheering the London Gold smash today. He is a Rhodes scholar and George Soros former partner. What a lying cretin. Jimmy who says he is a bad timer badly wants 1300 dollar gold. The man is an utter whore and no different than Felon George Soros the evil Jew former partner of his that is London’s puppet master of Obama. Rogers just has a better line of bull manure like Rob Ford of Toronto. Once in the illuminati it hard to get out. Rogers is not going to go to heaven unless he repents and stops serving the English crown. Here the recent crown rag photo the DT forced him into the 666 British-Israel illuminati pose. He may not be happy about his cult but is not leaving it anytime soon. Recall what Jesus said about rich men. This was the guy the ZGR nailed promoting naked shorting to the communist Chinese as an effective tool for market management. You can run but not hide from the ZGRs analytical eye Mr. Rogers. Wait until you meet your maker. I really despise this Anglomasonic/Talmudic Jew cult and their many hydra heads like Rogers and Soros. I think you have some spiritual issues to deal with if you see more than a shekels or farthings difference between Jimmy boy and George Soros. He called golds correction, long overdue. It is CB liquidation on the money print and covert manipulation and naked shorting by crown owned firms outrageously against a massive, massive global money print and debt run up in Japan, the USA and Europe. Jimmy he knows what stocks the crown owns and is likely Long the Killer that runs MSFT and short APPL knowing an Anglomason has been told to lay down for GOOG at APPL. Rogers is a history major from Oxbridge just like Gordon Brown the other anglomasonic piece of walking and talking human excrement. This guy is ‘full of crap’ as my help used to say in the oil patch. A tool of satan in the guise of the ‘light.’. He would have made a great ‘preacher’ for the Southern Baptist phonies that would have put John Hagee to shame. Another phony WASP controller from the South like John Chambers of CSCO and Florida boy Rob Ford. Oxford scum!!! Rhodes, aka Rothschilds traitor and Communist Chinese fascist lover!!! How about all those murdered and enslaved Christians in Communist China ‘brother Jimmy?’ Total hypocrite and one smooth and slick oxford, anglomasonic liar.
Great Tape paint at the End of the day by Lew the Jew on BBN-TV. I sold the close short. Great coordinated pumps by Lord Valdemort and Kercholakota and some strange futures buying into the close. I expect GS runs the European tape the ECB and JPM runs it for the FED all out of lawless London.
MARKETS – AT A GLANCE
-Bring on Prince Charles Clown, bring on the Clown…
“It’s up to you and all the people across the country to tell the people in Washington, focus on getting stuff done.”—President Obama
-20 Things you should know about Tory/Crown Haper Loyalist Toronto Mayor Tom Ford. ROFL
The mighty WASP..er Whale.
America is a great, great place if you’re a Royalist WASP!! Ask the Baron and Prince Charles. He should call Marion Berry of Washington DC to find out what to do the other Magik Negro butler that preceded Obummer who got hooked on the Crown/MI6/Mossad/CIA/Spanish Crown crack cocaine!!
-Lord Valdemort /WSJ pump looks to be over for the day. Adieu!
I did my usual market trade today of buying the opening at the market and selling the pop on the end of the day tape mark up, then rolling the profit into more DIA/SPY/DAX shorts. I was expecting the LEI to outperform today. Sadly over the years these stats have been changed to be more reflective of the financial economy rather than the real economy, and financial metrics rather than real econometric metrics pushed the LEIs up. Just because the stock market is up on low volume and PPT/ESM manipulation does not mean the real economy is doing well. Even the WSJ was forced to pen an article saying ‘so what if earnings and revenue stink, buy stocks they are going up’. Unfortunately for them there are few people left to buy. The DAX and USA indices are massively overbought. I don’t know when the correction will occur, but it will. USA markets grinded higher today and we saw the usual pattern this week of gold stocks most down, bank stocks most up and the UDX most up.
So if QE was going to be tapered only gold should go down and stocks up? Gold Vol says the gold paper market could go down a bit more. It is always easy to slam gold on thin Friday when a lot of Asia was celebrating Buddha’s birthday and sleeping off hangovers.
Today we had hedge fund black boxes and small specs shorting gold per my futures broker and some covering by the bullion banks, which is a good sign. Sadly the CFTC reports are largely worthless as they are reflective of positions as of Tuesday although perhaps this week we might glean some inclination of the markets direction and you have to have an honest futures broker to find out what the GS/HSBC/JPM scum were up to today. Small Specs virtually always pile in on the wrong side at tops and bottoms. The Central banks and Treasury departments of the major global economies starting Japan, continuing on to China, to the ECB and onto the FED and all the usual media suspects at BBN/WSJ/FT were out bashing gold in an all out effort to disgorge John Paulson and other market participants so inclined.
In lieu of gold the CB offer a big fake out rally in the major indices of the DAX/Dow/SP/Nas. Japan in particular last night said they would go down with the dollar ship. The Chinese more or less said the $EU was the new dollar for their FX reserves but refused to mention gold and talked up containing inflation in their press even as their money supply and credit are expanding like crazy through their shadow banking system as the dollar peg and Bernanke’s QE hits their shores. The ECB averred they were watching inflation indicators closely (gold) and ‘inflation expectations’ were well anchored, essentially the same comments from the FED head and Shill at the WSJ this week. Inflation expectations well anchored is code for coordinated gold smashes. One of the main disinformation hit jobs by the media is that if GLD physical gold is going down hedge funds must be selling and chasing the dollar and equity. In reality the LBMA boys are asset stripping the GLD ETF and taking delivery in London and sending that gold to Asia for a decent arbitrage profit and to cover up their massive fractional reserve physical system and naked gold shorts. GLD is not to be trusted, it is a London slush fund for gold market manipulation and little else.The Anglo elite of Boston manage it for the Crown’s purposes and for an ‘American’ ETF its gold is in London not NYC. Janet Yellen the next FED chair (per the WSJ) husband designed the particulars of the various Gold ETFs on the markets the big banks use. Should you trust a elite CB Jew designed product like GLD? GLD is a trading vehicle and little more. I’m certainly glad the mad Canadian who used to dispute that has left of leaving me his inane comments. If you ‘trust’ GLD you will be disappointed to find out that its gold is probably not there.
In particular last night the MOF refused to confirm the 105 target on the Y/D and said they would be okay with 100- 110 so that had to be greenlighted by Lew/London. Coincidentally right before that Government Sachs lifted its Y/D target at year end to 110. This allowed the Cartel lead by the BOJ/MOF to really slam gold and pump the USDX over 84 today. We had the FED balance sheet go over the .5 tln mark y/y in their latest weekly report, so this is the FEDs big move to show it can steer money into bonds and equity and keep commodities down through its proxies at the big megabanks that Fitch pumped last night.
Fundamentals are screaming for gold to go higher in the $EU, Y and $ terms. Other than John Paulson gold has no public friends right now. Fortunately physical demand is screaming in India and China from the masses. I picked up some physical silver today and could not get a price close to the paper price at all, but at least I got some at $25+.
The FED is trying to destroy gold and gold may ultimately destroy them and sooner than they think. You can only lie so long as Hitler found out before the sheeple turn on you. Even Obama’s most loyal press whores are turning on him after his deny and lie speech yesterday. I’m sure the political pressure he is under and that he is universally loved by London and Europe is also a big factor in the FED/BOJ /ECB trying to keep him in power by running the markets and smashing gold. After watching him capitulate to this evil Jew that runs Turkey and pushing the USA into another war while Putin sends a dozen warships to Syria, shows you the Europeans that is the Rothschilds Jews and aligned royal families have never had an anti-American stooge like him in history in place, not even the Queens Cousins the Bush family were as a bad. The German elites would love it if the USA disappeared as they would have little competition. Turkey is more or less a defacto EU state like Israel. Syria is not but might be shortly due to its oil.
Hard to say, what the Europeans really think about Americans and what happens to us. Other than the French and my own kin in Austria/Italy, I never sense anything but envy and hatred from most Europeans for us , of course much of that was due to the CIA’s meddling in Europe for the English crown. I talked to an American who moved back from England recently and he said everyone wanted to fight him because he was an American and thought we were to blame for the world’s problems and they still blame us for not dying on demand in WW2 that England started 100 % on its own. I always go out of my way to be very generous and kind to Europeans even the English when I meet them. I think this EU Airbus and Boeing fight (which is not owned by the Crown heads of Europe and their bankers) is a good metaphor for the struggle between Europe and the USA for economic dominance. Still you can only get so far with sabotage and lazy cowardly workforce afraid to innovate and take risk. Barroso and the gang can talk about the EU youth taking risks but most are content to live at home with mom and dad and wait for the next govt hiring spree. Strictly speaking as a manager, Europeans never struck me as the type of employees I would hire for start up or even to work at my restaurant and their math/science and engineering education outside of France and Switzerland is extremely subpar. Which is why Silicon Valley is in California and not Paris or Berlin. Europeans will have to give up their love of big govt to compete, or destroy the USA which is sure what the Anglo-Zionist managers of Europe seem up to. Truly Obama is the ‘European’ although I prefer to think of him as Prince Charles Butler. Certainly I encourage all true Christian Europeans to immigrate to the USA to help us make a last stand against the antichrists in Communist China, England and Europe. If you’re a secular humanist, NWO stay in Europe with your Antichrist royals and GS bankers and the antichrist English people.
Despite all the supply in oil we saw hit the markets this week, oil bounced right back today, and despite all this London rigging blowing up. I guess London/BP/RDS/Glencore want to show us they all have a royal charter. Typically gold and oil trade inversely with the dollar and in lock step with each other. I suppose Syria heating up put the bid under oil today.
Here is the anglomasonic filth destroying North America along with the Zionist Jew and Jewish supremacist. A high school football coach as well. Anglosaxon in Canada are more prevalent than in the USA at about 20 % of the population but dominate the political positions outside of Quebec.
3:17 p.m. EDT 05/17/13Major Stock Indexes
-The Federal Reserve should only act to prevent asset price bubbles if the benefit from doing so is greater than the cost in terms of employment and prices, Minneapolis Fed President Narayana Kocherlakota said Friday. His comments come as greater attention is being paid to the impact of loose monetary policy on the build-up of risky assets. “Currently, the gains from tightening related to improving financial stability are both speculative and slight. In contrast, the losses from tightening-in terms of pushing employment and prices even further below the Federal Reserve’s goals-are both tangible and significant,” he said. Kocherlakota isn’t a voting Federal Open Market Committee member this year. MW
-Bernanke speaks Sat, and trots out to Capitol Hill next week to chat up his Anglo-Zionist lackeys in Congress. The WSJ shill changed his tune after facilitating the gold sell off and Lord Valdemort now says the FED is not going to taper now. It is called ‘whipsawing’ and no one is better at it than the CBs and their press shills. I don’t even like mentioning this foul pig’s name from the WSJ. He is one evil and cocky and ‘fey’ SOB. I’m pretty sure Valdemort and Harry Potter are dueling Queers. Kercherlakota was the last FED head to speak today. So my work is done and I will whip out a quick summary and bid you and adieu.
-Anglo Supremacist Liar of the Day
“I think that what happened here is that foolish mistakes were made by people trying to be more efficient in their workload”
Former IRS commissioner, who has impunity from George Soros apparently to lie to the American public and congress today. Anglos like you to think they are 80 % of the USA, but are only 8 % and along with their first cousin the Jew, fill almost all positions in Govt that are directed by London. Certainly this country is full of Benedict Arnolds.
House Ways and Means Chairman Dave Camp (R., Mich.), saying the revelations so far were “just the tip of the iceberg,” asked who started targeting conservative groups, who knew about the practice, why it went on for so long and why the IRS wasn’t forthcoming when lawmakers asked whether conservatives were being targeted.”Despite a two-year-long investigation by this committee, the IRS never told the American people or their representatives about this simple truth,” Mr. Camp said. “In fact, we were repeatedly told no such targeting was happening. That isn’t being misleading, that is lying.”The stakes are high. The Justice Department has opened a criminal investigation that among other things is looking at whether any false statements were made to Congress. House Speaker John Boehner (R., Ohio) has said that someone should go to prison. WSJ
(US) May Preliminary University of Michigan Confidence: 83.7 v 77.9e
(US) Apr Leading Indicators: 0.6% v +0.2%e
(CA) Canada Mar Wholesale Sales M/M: 0.3% v 0.4%e
(CA) Canada Apr Consumer Price Index M/M: -0.2% v 0.0%e; Y/Y: 0.4% v 0.6%e; Consumer Price Index: 122.7 v 122.9 prior
(CA) Canada Apr CPI Core M/M: 0.1% v 0.2%e; Y/Y: 1.1% v 1.2%e
(MX) Mexico Mar Global Economic Indicator: -1.8% v -0.7%e
(MX) Mexico Q1 GDP Q/Q: 0.5% v 0.3%e; Y/Y: 0.8% v 1.1%e
Late Releases from Europe
(RU) Russia Q1 Advance GDP Y/Y: 1.6% v 1.3%e
(IC) Iceland Apr Unemployment Rate: 4.9% v 5.3% prior
Late Release from Asia
(IN) India Forex Reserves w/e May 10th: $293.7B v $294.3B prior
-JPM Pump and Dump: J.P. Morgan strategists have lifted their year-end target on the S&P 500 to 1,715 from 1,580 based on a better bull market than they expected.
-Oil Price-Fixing Probe Widens as Neste Helps EU Inquiry
-I bumped my DAX short. Massively overbought market on no volume. ECB& ESM pumping. If the stock markets are ‘good’ the economy and earnings must be good. Wrong it just liquidity designed to increase bank power and earnings,. I covered my last DAX short in full at the bottom of the last sell off, and did not start to rebuilt it in a significant way until 8000. Might start thinking of scaling out of the DAX short at 8600 but for now I’m looking to add more. EU markets are even more rigged than the USA markets now. We are on the cusp of another bank melt down in Europe. Holland, France, Spain, you can’ t tell which one will go next. Certainly the LTRO payback has slowed to a crawl. The EU boys, the Windsors-Rothschilds want Merkel back in and the dollar stabilized through her election and the Euro lower. Lots of Jewish rats scurrying around Europe today trying to fix things there. Bob Rubin, mr. gold fixer in London, a really big Jew /NWO rat. Roubini small Jew rat in Italy trying to hold that together.
MARKETS – AT A GLANCE
-U.S. car makers lost market share in Europe in April, in a month where the overall European car market improved for the first time since September 2011, according to data from the European Automobile Manufacturers’ Association on Friday. General Motors Co. GM +0.25% saw its market share drop to 7.7% in April from 8.2% last year, with the biggest decline seen in the Chevrolet brand. Ford Motor Co. F -0.20% slipped to sitting on 7.3% of Europe’s car market, down from 7.5% a year earlier. The 27-nation European Union market of new passenger cars grew by 1.7% in April. MW
-USDX above 84 on big EU/BOJ/FED/BOE/ECB intervention and gold bash
-Satan’s own personal whore is in London today
-ECB’s Mersch: Possibility Of Deposit Rate Cut Is There, Whether We Use It Is “Different Pair Of Shoes” (q/a in London);ECB Has Promised Nothing On ABS.
ABS Revival Needs Kick-Start From Other Players
-Steven Miller, forced out as acting Internal Revenue Service commissioner, will be questioned today by U.S. lawmakers on what he knew about scrutiny of small-government groups and why Congress wasn’t told.Miller is set to appear before the House Ways and Means Committee at 9 a.m. in Washington. Lawmakers on the panel, particularly Republicans, say they’ve been misled by Miller over the past year. They will demand an accounting of what the IRS did and why senior managers failed to act.
Next time SHTF at your work, on your job – just TRY to save your butt by saying, “I’m outraged and will get to the bottom of this!”
-And BBN pumps Crown owned MSFT
Bill Gates is once again the world’s richest person.The 57-year-old co-founder of Redmond, Washington-basedMicrosoft Corp. (MSFT) recaptured the title from Mexican investor Carlos Slim yesterday, according to the Bloomberg Billionaires Index, as the software maker hit a five-year high. It is the first time Gates has held the mantle since 2007. His fortune is valued at $72.7 billion, up 16 percent year-to-date. BBN
Leaves out trillionaires of London and Europe intentionally.
-BBN does London Hit Job
Apple Inc., (AAPL) the world’s most valuable technology company, has lost its edge among investors, according to the latest Bloomberg Global Poll.Hedge funds sold large stakes of the iPhone maker’s stock in the first quarter, Apple shares are down 40 percent from last year’s high and the company paid higher interest rates for a recent bond sale than Microsoft — in a PC trumps Mac moment.Now, 71 percent of poll respondents say the Cupertino, California, company has lost its cachet as an industry innovator, which includes 28 percent who say it is permanent and 43 percent who say it may be a temporary hiccup. There are still true believers; 23 percent said Apple remains the best in the business. Six percent were unsure
We all know how ‘credible’ BBN journos are.
-Could not happen to a nicer bunch of guys…no it was not me as I was fending off hacks all night long!!
Various FT blogs and social media accounts have been compromised by hackers and we are working to resolve the issue as quickly as possible.
-John Brennan meets Netanyahu and other senior Israeli figures amid concerns over Syrian weapons (and probably Putin warships) in surprise visit. Haaretz
European bourses are trading some what mixed with a bias to the green, as traders continue to debate when the Fed will reduce the scale of its quantitative easing program after FED Williams’ gold hit job speech, and as chatter of more ECB easing emerges from London and as the ECB talking heads flooded the airwaves and press like the FED heads yesterday. Switzerland’s is underperforming amid weakness in shares of Zurich Financial and Roche. European banks are mostly higher despite a weak report from Dutch Lender ABN Amro on home loans as the housing bubble has burst in Holland, led by UK banking shares, shares of BBVA have lagged, as Spain’s bad loan ratio rose again in March. Resource related companies are trading mixed, in line with what has been seen with commodity prices with gold and silver miners lagging. The European auto sector has been supported by data which showed that EU27 new car registrations rose in April for the first time since late 2011 so far today. Reuters said the auto uptick would be short lived.
ECB’s Coeure stated that the central bank must act within its mandate and reiterated it was exploring options to strengthen SME lending, He noted that financial conditions in Eurozone were generally improved and that arguments that ECB was not well placed to support employment were overstated. Monetary indicators (gold?)key to ensuring price stability and ECB to accompany recovery if reforms continued in EU.Banks Need to be healthy when Interest Rates Rise: Now Not the Time to Raise Rates. ECB’s Asmussen: parts of Europe in decades-long adjustment process;monetary policy to remain accomodative as long as needed. Says long phase of low rates carries risks.German economy robust, reason to expect 2Q Better than 1Q in g
ermany (note Goldman Sachs cuts Germany 2013 GDP Forecast to 0.1% from 0.4% today). ECB’s Yves Mersch:The euro area has been facing insufficiencies on several fronts, all at the same time. Let me be blunt: it has had governance shortcomings, stretched states, fragile banks, shrinking economies, sinking confidence in institutions and doubts about its integrity. Each of these difficulties has exacerbated the others; it has been a vicious circle. The crisis did not originate in the euro area (liar), nor is it limited to it. But inside the euro area it has inflicted severe losses and pain, particularly on the younger generation.In most of the stressed euro area countries this still requires tough choices across the generations and over time: e.g. education versus pension entitlements, infrastructure versus healthcare, research and development versus defence, and so on.Strengthening of tax administrations and treasury systems, expenditure control, privatisation will also be crucial. Reducing the costs of bureaucracy will matter more than ever across the euro area.There are varying needs for true innovation clusters à-la-Silicon Valley, as well as investments in scientific and technical education, research and development, encouragement of “angel investments”, and grassroots and sustainable banking.Labour markets need to become inclusive and fair in every country, while encouraging labour mobility, in particular in a monetary union. Greater competitiveness and sustainable growth of the whole euro area will then follow.
“Euroland is in a
depression. Govts are not taking steps to fix what is broken. Econ decline will only deepen,run for a very long time” HFE (London hedge fund adviser)
Fitch Milan Rates Megabanks
Fitch Ratings has concluded its periodic review of 12 Global Trading and Universal Banks (GTUBs). In the review, the Long-term Issuer Default Ratings (IDRs) of all GTUBs were affirmed, as were all Viability Ratings (VRs), with the exception of Bank of America Corporation’s, whose VR was upgraded to ‘a-’ from ‘bbb+’.Since Fitch’s last review of the peer group in October 2012, HSBC Holdings’ VR was downgraded by one notch to ‘aa-’ in December 2012 and UBS AG’s VR was upgraded by one notch to ‘a’ in April 2013….
Fitch believes that there is a clear political intention to ultimately reduce the implicit state support for systemically important banks in Europe and the US, as demonstrated by a series of policy and regulatory initiatives aimed at curbing systemic risk posed by the banking industry. This might result in Fitch factoring less support into banks’ IDRs in the medium term and hence revising SRFs downwards, although the timing and degree of any change would depend on developments with respect to specific jurisdictions. Until now, senior creditors in major global banks have been supported in full, but resolution legislation is developing quickly and the implementation of creditor “bail-in” is starting to make it look more feasible for taxpayers and creditors to share the burden of supporting large, complex banks.
Bank of America Corporation: Long-term IDR affirmed at ‘A’/Stable; VR upgraded to ‘a-’ from ‘bbb+’; SRF affirmed at ‘A’
Barclays Bank plc: Long-term IDR affirmed at ‘A’/Stable; VR affirmed at ‘a’; SRF affirmed at ‘A’
BNP Paribas: Long-term IDR affirmed at ‘A+’/Stable; VR affirmed at ‘a+’; SRF affirmed at ‘A+’
Citigroup: Long-term IDR affirmed at ‘A’/Stable; VR affirmed at ‘a-’; SRF affirmed at ‘A’
Credit Suisse AG: Long-term IDR affirmed at ‘A’/Stable; VR affirmed at ‘a’; SRF affirmed at ‘A’
Deutsche Bank AG: Long-term IDR affirmed at ‘A+’/Stable; VR affirmed at ‘a’; SRF affirmed at ‘A+’
Goldman Sachs: Long-term IDR affirmed at ‘A’/Stable; VR affirmed at ‘a’; SRF affirmed at ‘A’
HSBC Holdings plc: Long-term IDR affirmed at ‘AA-’/Stable; VR affirmed at ‘aa-’; SRF affirmed at ‘No Floor’ (HSBC Bank plc’s, the group’s UK bank, SRF was affirmed at ‘A’)
JPMorgan Chase & Co.: Long-term IDR affirmed at ‘A+’/Stable; VR affirmed at ‘a+’; SRF affirmed at ‘A’
Morgan Stanley: Long-term IDR affirmed at ‘A’/Stable; VR affirmed at ‘a-’; SRF affirmed at ‘A’
Societe Generale: Long-term IDR affirmed at ‘A+’/Negative; VR affirmed at ‘a-’; SRF affirmed at ‘A+’
UBS AG: Long-term IDR affirmed at ‘A’/Stable; VR affirmed at ‘a’; SRF affirmed at ‘A’
The European Union and the Swiss Confederation have signed an agreement that will strengthen co-operation between their respective competition authorities, the European Commission and the Swiss Competition Commission. This is the fifth such agreement signed by the EU after agreements concluded with the United States, Canada, Japan and Korea.
Hollande: Europe does not need Britain (press)
Italy and Spain
PM Letta: Government Has “Suspended” Summer Property Tax; New Real Estate Taxation System By End August.;1 billion Euros for jobs.
A deepening recession could find Italy’s mid-sized banks short of billions of euros.
BOE’s Weale commented that failure to damp CPI shock risked entrenching expectations. The MPC concluded market rate expectations consistent with economic outlook and that economy prospects looked better than they have in a while. Strong March data was a springboard for Q2 growth. He saw possible stagnation being replaced by moderate growth. Considerable amount of work underway on forward guidance with the yield curve showing no rate rise until 2016
Number 10 Downing street said the Cameron lead govt was in no danger of breaking up when it clearly is as Cameron is ripping the Tory party to shred with his flip flops and support of homosexual marriage and effectively blocking an EU referendum his own party intends to shove down his throat one way or another.
Denmark Shelves Euro Goal Indefinitely as Crisis Scars Too Deep-BBN
Samaras: Greece is ‘anchored in’ the EZ
Hungary Refuses to Carry Out Austerity Measures. Hungary Public Debt 82.2%/GDP End-March Vs 79.2% End-2012
(RU) Russia Narrow Money Supply w/e May 13th (RUB): 7.71T v 7.74T prior
(EU) EU27 Apr New Car Registrations: +1.7% v -10.2% prior; first increase in 18 months
(ES) Spain Mar Bank bad loan ratio 10.47% v 10.39% prior
(EU) Euro Zone Mar Construction Output M/M: -1.7% v -0.3% prior; Y/Y: -7.9% v +1.7% prior
(ES) Spain Mar Trade Balance: +€0.6B v -€1.2B prior; first ever monthly trade surplus on record
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50||2818.08||3.29||0.12|
|Stoxx Europe 600||308.30||0.33||0.11|
|Euro Stoxx 50||2812.09||5.39||0.19|
|Austria: ATX Index||2486.92||2.15||0.09|
|Denmark: OMX Copenhagen 20||551.29||-1.05||-0.19|
|Estonia: OMX Tallinn||813.08||-4.71||-0.58|
|Finland: OMX Helsinki||6430.95||-4.22||-0.07|
|France: CAC 40||3992.91||13.84||0.35|
|Greece: Athex Composite Share Price||1127.67||-6.61||-0.58|
|Greece: DJ Greece TSM||880.09||24.65||2.88|
|Greece: FTSE/ATHEX 20||398.45||3.37||0.85|
|Iceland: OMX Iceland All-Share||754.53||6.51||0.87|
|Ireland: ISEQ Overall||3998.75||1.45||0.04|
|Italy: FTSE MIB||17597.95||53.94||0.31|
|Latvia: OMX Riga||412.46||-1.71||-0.41|
|Lithuania: OMX Vilnius||395.28||-0.94||-0.24|
|Norway: OSE All-Share*||531.17||0.29||0.05|
|Portugal: PSI 20||6089.91||26.46||0.44|
|Russia: DJ Russia Titans||6230.32||85.25||1.39|
|Spain: IBEX 35||8553.60||11.30||0.13|
|Sweden: OMX Stockholm||388.54||1.64||0.42|
|Switzerland: Swiss Market||8239.20||-16.95||-0.21|
|UK: FTSE 100||6709.48||21.68||0.32|
|UK: FTSE 250||14636.94||70.40||0.48|
|UK: FTSE AIM All-Share||727.10||1.88||0.26|
|US Cotton No.2||86.03||+0.01||+0.01%|
|US Coffee C||140.72||+0.47||+0.34%|
China Vice Commerce Minister Jiang: EU is the main instrument for diversifying China FX reserves; Chinese investments in EU will help its recovery; China will expand investments in port of Piraeus, Greece.
The president of the Japan Atomic Energy Agency, the operator of the Monju prototype fast breeder reactor, resigned Friday over the state-run agency’s failure to properly inspect the reactor, science and technology minister Hakubun Shimomura said.
An adviser to Japanese Prime Minister Shinzo Abe held talks Thursday with North Korea’s No. 2 leader Kim Yong Nam in Pyongyang, the North’s official Korean Central News Agency reported.
Japan MOF’s Furusawa commented that the MOF had no comment on specific currency levels and the MOF did not draw the line at 100 or 110 in the USD/JPY pair. It was observing FX rates that were determined by market forces. The official added that long-term JGB yields to stabilize; MOF, BOJ and JGB players kept in close contact. FX currency rates were not set by monetary policy alone and that the USD status as key unit unlikely to change; Euro, Yuan assets not for diversifying reserves. The MOF reiterated that ending deflation to help global growth.
Japan PM Abe: Japan has gained global understanding of Abenomics and added that Govt aimed to triple infrastructure exports to Y30T by 2020; wants to boost CAPEX by 10% in three years to Y70T.
BOJ will discuss the related risks and potential effect on its 2% inflation target at its two-day policy meeting next week.
Japan risks exporting deflation if yen continues to weaken – DT, AEP
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1458.68||1.10||0.08|
|Australia: All Ordinaries*||5159.80||15.60||0.30|
|China: DJ CBN China 600*||21771.72||320.75||1.50|
|China: DJ Shanghai*||295.47||4.00||1.37|
|China: Shanghai Composite*||2282.87||31.06||1.38|
|China: Shenzhen Composite*||1002.54||16.27||1.65|
|China: Shanghai 50*||1843.81||22.36||1.23|
|Hong Kong: Hang Seng*||23082.68||38.44||0.17|
|India: BSE Sensex*||20274.89||27.56||0.14|
|India: S&P CNX Nifty*||6187.30||17.40||0.28|
|Indonesia: JSX Index*||5145.68||67.00||1.32|
|Indonesia: JSX BISNIS 27*||431.42||3.37||0.79|
|Indonesia: JSX Islamic*||696.58||15.09||2.21|
|Indonesia: JSX LQ-45*||870.03||13.96||1.63|
|Japan: DJ Japan TSM*||780.26||5.88||0.76|
|Japan: Nikkei 225*||15138.12||100.88||0.67|
|Japan: TOPIX Index*||1253.24||8.01||0.64|
|Malaysia: DJ Malaysia TSM*||3370.83||12.00||0.36|
|Malaysia: FTSE Bursa Malaysia KLCI*||1769.16||2.44||0.14|
|New Zealand: NZX 50*||4597.84||-38.19||-0.82|
|S. Korea: KOSPI*||1986.81||15.55||0.79|
|S. Korea: KOSPI 50*||1689.25||16.66||1.00|
|S. Korea: KOSPI 100*||1961.20||18.69||0.96|
|S. Korea: KOSPI 200 Composite*||258.99||2.39||0.93|
|Singapore: FTSE Straits Times*||3449.30||-2.98||-0.09|
-Finance Minister Pierre Moscovici said on Friday he believed the French economy could begin to grow again in the second half of 2013, after data this week showed the country slipping into a shallow recession in the first quarter.”I think it will return during the course of the second half of 2013,” Moscovici told RTL radio.
-Anglosaxons the world over. Toronto Mayor Ford, crack whore..too funny
-How do I know it is Friday? none of the English traders are at their desk and 50 % of the Europeans are MIA 30 minutes before the opening. Eurotrash!! Europe, the life of the slug, a good life if you can get others to pay for it and die for it. Ask the Turks who want the USA to Bomb Syria back into the stone age for them.
-Anti-bailout Syriza has 28% support of likely voters in Public Issue poll, Samaras’s New Democracy party at 27.5%
-Rothschilds apparatchik meeting with Letta the Jew?
I am today in Rome for meetings. With a new government in place & ongoing recession it is critical to implement policies to restart growth
-Georgia Tech says it will offer a computer science master’s degree online for less than $7,000 (great school, i never met or hired a bad engineer from georgia tech).
-Dutch lender (and gold rigger) ABN Amro Bank NV Friday reported a drop in first quarter net profit amid rising impairments on bad loans in its home market, and said it will remain cautious for the rest of the year in view of the weak economic climate in the Netherlands.Net profit attributable to shareholders was EUR414 million ($533 million), down from EUR503 million in the same period a year earlier.Excluding large items, net profit was under pressure year-on-year as non-interest income was lower and loan impairments further increased, driven by continued weak economic conditions in the Netherlands.The cost/income ratio was 68%, up from 57% in Q1 2012 and down from 79% in Q4 2012, caused by the decline in other non-interest income and higher pension expenses.The core Tier 1 ratio was 11.6% due to an increase in risk-weighted assets, which was predominantly the result of transfers of portfolios and is expected to be temporary.The drop in net profit was partly offset by a large loan impairment release related to the sale of another part of the Greek government-guaranteed exposures.Chief Executive Gerrit Zalm said in a statement that the first quarter can be qualified as a difficult quarter as the Dutch economy had not recovered and both the number of bankruptcies and unemployment levels continued to rise. “As unemployment is still on the rise and no economic growth in the Netherlands is expected for 2013, we remain cautious for the remainder of the year.”
Asian markets are broadly higher in the final trading day of the week, with liquidity thinned by Buddha Birthday celebrations in Hong Kong and South Korea. A more tempered tone stemmed from the US trading session, where disappointing weekly jobless claims, housing starts, and Philly FED prompted a short covering rally in the US treasuries that sent the 10-year yield down about 10bps to 1.86%. Late in the day, sentiment turned more bearish after SF FED’s Williams said the FOMC could start tapering QE3 as early as this summer if improvement in the labor market can be sustained. Asian sold off on the USA markets close but rallied as decent economic data rolled in and as positive statements were made by the govts of Japan and China.
The Nikkei Average finished up 0.7% at 15,138.12. The Shanghai composite is up .63 %.
PM Abe planing targeting advanced technologies in next growth phase, robotics, self driving autos, etc.
Japan Fin Min Aso said Japan CAPEX to increase from now due to higher budget spending.
Japan announced 93 % of its college graduates found jobs, contrast that with 50 % in the USA and Europe. Japan is to have two rocket launch sites after a seven-year space launch hiatus as it reopens Uchinoura Space Center this summer to launch satellites under 50kg.-The governments of Japan and India plan to strengthen their cooperation to boost investment in India (NN, relocating factories out of radioactive Japan on the sly).
Mitsubishi, Mitsui and Nippon Yusen KK reach agreement with Sempra for 33% interest in a LNG gas project in Louisiana.
China Ministry of Commerce (MOFCOM) deputy director Zhao Ping: Consumer goods sales expected to rise about 13% in 2013; slowdown related to less private spending.China Statistics Bureau: China urban non-private companies annual wages rose +9% y/y.
China Vice Commerce Minister Jiang: EU is the main instrument for diversifying China FX reserves
China has decided to eliminate the need for central government approval for a wide range of investments in a move to boost economic growth.Local governments can now give approval for some investment projects, the State Council, or cabinet, said in a statement posted on the central government website. The new rule covers investments in infrastructure such as civilian airports, urban transit and natural gas projects, as well as investments in chemicals, steel, telecommunications, logistics, shipping and Formula 1 racing.
According to Wood Mackenzie, Australia new mining investment in FY13-15 seen at A$220B, +27% vs FY10-12 period
Asia Economic Releases
(JP) JAPAN Q1 HOUSING LOANS Y/Y: 3.2% V 3.1% PRIOR
(JP) JAPAN MAR MACHINE ORDERS M/M: 14.2% V 3.5%E (16-month high); Y/Y: +2.4% V -4.9%E; Order volume at the highest level since Oct 2008
(CN) CHINA APR CONFERENCE BOARD LEADING ECONOMIC INDEX: +1.5% V -0.6%
(CN) World Gold Council (WGC): China gold demand in Q1 rose 20% y/y to 294.3 tons
(SG) SINGAPORE APR ELECTRONIC EXPORTS: -9.0% v -6.7%E; NON-OIL DOMESTIC EXPORTS M/M: 1.1% v 3.5%E; Y/Y: -1.0% v -1.9%E
(NZ) NEW ZEALAND PRODUCER PRICES INPUTS: 0.8% v 0.2%E (7-quarter high); OUTPUTS: 0.8% v 0.0%E (7-quarter high)
(NZ) NEW ZEALAND APR ANZ JOB ADS M/M: 0.8% V 0.4% PRIOR
(NZ) NEW ZEALAND MAY ANZ CONSUMER CONFIDENCE INDEX: +3.8% V +3.8% PRIOR; 123.7 V 119.2 PRIOR
SLV: iShares Silver Trust ETF daily holdings fall to 10,321 tons from 10,392 tons (lowest since Apr 24th)
GLD: SPDR Gold Trust ETF daily holdings fall by 5.7 tons to 1,041.4 ton (lowest since 1,038.2 in Mar of 2009)
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1458.41||0.83||0.06|
|Australia: All Ordinaries||5161.80||17.60||0.34|
|China: DJ CBN China 600||21661.37||210.40||0.98|
|China: DJ Shanghai||293.98||2.51||0.86|
|China: Shanghai Composite||2265.93||14.12||0.63|
|China: Shenzhen Composite||998.86||12.59||1.28|
|China: Shanghai 50||1824.49||3.04||0.17|
|Hong Kong: Hang Seng*||23082.68||38.44||0.17|
|India: BSE Sensex||20229.17||-18.16||-0.09|
|India: S&P CNX Nifty||6162.75||-7.15||-0.12|
|Indonesia: JSX Index||5102.59||23.91||0.47|
|Indonesia: JSX BISNIS 27||429.87||1.82||0.43|
|Indonesia: JSX Islamic||686.08||4.60||0.68|
|Indonesia: JSX LQ-45||860.52||4.45||0.52|
|Japan: DJ Japan TSM||780.91||6.53||0.84|
|Japan: Nikkei 225||15126.83||89.59||0.60|
|Japan: TOPIX Index||1253.99||8.76||0.70|
|Malaysia: DJ Malaysia TSM||3365.17||6.34||0.19|
|Malaysia: FTSE Bursa Malaysia KLCI||1768.47||1.75||0.10|
|New Zealand: NZX 50*||4597.84||-38.19||-0.82|
|S. Korea: KOSPI*||1986.81||15.55||0.79|
|S. Korea: KOSPI 50*||1689.25||16.66||1.00|
|S. Korea: KOSPI 100*||1961.20||18.69||0.96|
|S. Korea: KOSPI 200 Composite*||258.99||2.39||0.93|
|Singapore: FTSE Straits Times||3451.46||-0.82||-0.02|
|US Cotton No.2||85.58||-0.56||-0.65%|
|US Coffee C||140.25||-0.30||-0.21%|
President Barack Obama on Thursday dismissed calls for a special counsel to probe the Internal Revenue Service’s targeting of conservative groups, saying congressional and Justice Department investigations will be sufficient.
FED Balance sheet 3,354,269+ 29,654 w/w + 503,285 y/y (mlns)
SINA: Reports Q1 +$0.02 v -$0.03e, R$121.3M (non-gaap) v $118Me; +2.7%
NTAP: Said to have hired Goldman Sachs to advise on strategic alternatives
DELL: Reports Q1 $0.21 v $0.34e, R$14.1B v $13.5Be; -0.2% afterhours
Dell earned 21 cents a share excluding items for the quarter ended May 3. That’s down 51% from the year-earlier period and well below the 35 cents predicted by analysts polled by Thomson Reuters.Sales fell 2% to $14.1 billion, better than the $13.5 billion analysts targeted.Executives gave no guidance for the current quarter, ending in July, because of the company’s pending go-private deal. Analysts expect Dell to earn 38 cents a share, down 24%, on sales of $13.9 billion, down 4%.
AMAT: Reports Q2 $0.16 v $0.13e, R$1.97B v $1.92Be; -0.7% afterhours
Applied generated orders of $2.27 billion, up 7 percent from the prior quarter, with Silicon Systems Group orders up 14 percent from the first quarter and Display orders up 41 percent sequentially. Net sales were $1.97 billion, up 25 percent sequentially.Applied reported non-GAAP adjusted operating income of $285 million and non-GAAP adjusted net income of $199 million or 16 cents per diluted share. The company recorded a GAAP operating loss of $68 million and a GAAP net loss of $129 million or 11 cents per diluted share. The GAAP net loss included $278 million in goodwill and intangible asset impairment charges associated with the Energy and Environmental Solutions (EES) segment, which were primarily the result of the further deterioration in solar equipment market conditions, along with $10 million in charges related to previously announced restructuring plans. The company continues to aggressively reduce spending in the EES segment
BRCD: Reports Q2 $0.17 v $0.15e, R$538M v $552Me; -2.4% afterhours
Net income rose 20 percent, to $47 million, or 10 cents per share, in the February-April quarter, from $39.3 million, or 8 cents per share the year before. Excluding one-time items, profit came to 17 cents per share, which beat analysts’ estimate of 15 cents per share, according to FactSet.Weaker demand for storage products led to lower revenue from Brocade customers, who are manufacturers in the storage networking sector. Demand was better for other kinds of networking products. Overall revenue fell less than 1 percent, to $538.8 million. Analysts expected sales to grow, to $549.5 million.Investors have worried about weaker technology spending by corporations and government agencies after other companies that make computer networking gear posted disappointing financial results last month. But Cisco Systems Inc., the industry leader, said on Wednesday that it was seeing “good signs” in the U.S. and overseas.
JWN: Reports Q1 $0.73 v $0.76e, R$2.66B v $2.81Be; -3.3% afterhours
ADSK: Reports Q1 $0.42 v $0.45e, R$570.4M v $586Me; -6.2% afterhours
NDC: Authorizes 4 billion more in share buy backs -war is great for shareholders!!
Russia has sent a dozen or more warships to patrol waters near its naval base in Syria, a buildup U.S. and European officials interpret as an aggressive stance meant partly to warn against intervention in Syria. WSJ
Turkish Jew Erdogan demands Obama attack Syria
In multi-hour talks today with Turkish Prime Minister Recep Tayyip Erdogan, President Obama reiterated that the US “reserves the right” to attack Syria militarily despite a previous deal with Russia to pursue a negotiated settlement to the nation’s ongoing civil war.
At the same time Obama insisted that the US would notattack Syria unilaterally, but would only do so as part of a broader alliance of attacking nations, saying the US had “no magic formula for dealing with an extraordinary violent and difficult situation like Syria’s.”
Erdogan is keen to get President Obama to talk up military action on Syria because he blamed the Assad government for bombings in the border town of Reyhanli over the weekend. Protesters in southern Turkey have blamed Erdogan’s government, however, and his policy of backing Syria’s rebels.
While in this context it is unclear how serious the threats to Syria are, and how much is simply diplomatic grandstanding. The two leaders capped off their meeting by reiterating their demand that President Assad immediately resign.
The demand reflects similar statements from Syria’s rebels, who have rejected the US-Russia peace talks initiative and insist instead that Assad unconditionally stand down in favor of a rebel government. The US is struggling to clarify exactly how it can back the talks while endorsing the position of rebels not to participate, but does not appear to be considering any serious policy change in response.
Though the “evidence,” such as it is, of chemical weapons use in Syria appears to be based on little more than rebel allegations and the occasional photograph, President Obama sought to return the scandal to headlines today by affirming that the US has “seen” the existing evidence.
The US had dismissed all of the evidence until late April, when Israel officially announced it believed Syria’s government used chemical weapons and the administration dutifully went along with it. The primary difference was that Israel claimed five uses, while the US says maximum two.
Then last week Turkish Prime Minister Recep Tayyip Erdogan, who Obama met today, claimed “at least 200” incidents of chemical weapons use, and claimed Turkey had absolute proof of all of them. Obama admitted he had already seen the proof, but reiterated that “more specific information” is needed.
The UN’s conclusion so far is that only one incident ever happened, and that was the rebels, not the Syrian government, using chemical weapons. The US dismissed this out of hand, though it insisted that it believes the incident happened, and that the attack, which killed Syrian soldiers, was probably done by the Syrian military.
In the end the bizarre and contradictory positions the Obama Administration has taken on chemical weapons continue to mount, centered seemingly on the assumption that the US must at least sort of endorse its allies’ assessments, if only for politeness’ sake. At the same time, the administration seems reluctant to allow those “conclusions,” based on little to know real data, to drive policy, and so they must continue to seek better evidence, while carefully avoiding doing something unseemly like pointing out that the existing “proof” is nothing of the sort.
Take my yoke upon you, and learn of me; for I am meek and lowly in heart: and ye shall find rest unto your souls.
|07:30||INR||Indian Bank Loan Growth||14.50%|
|07:30||INR||Indian FX Reserves, USD||294.31B|
|08:30||CAD||Core CPI (MoM)||0.2%||0.2%|
|08:30||CAD||Wholesale Sales (MoM)||0.4%||0.0%|
|09:00||MXN||Mexican Economic Activity (YoY)||-0.55%||0.39%|
|09:00||MXN||Mexican GDP (YoY)||1.25%||3.20%|
|09:55||USD||Michigan Consumer Sentiment||78.0||76.4|
|09:55||USD||Michigan Inflation Expectations||3.1%|
|10:00||USD||CB Leading Index (MoM)||0.2%||-0.1%|
|10:30||USD||ECRI Weekly Annualized (WoW)||7.30%|
|21:30||CNY||China House Prices (MoM)||3.60%|
-Airbus A350’s Paint Job Points to Paris-Show Blow for Boeing
-ECB eyes supervisor role to squeeze weak banks http://reut.rs/Z0lWh3
-IRS official who oversaw unit targeting Tea Party now heads ObamaCare office