-FED Delivers on 45 billion in UST QE and 40 Billion in MBS QE month on 12-12-12
-German Parliament Decides to Release Greece’s next Tranche
-USA Fiscal Cliff Divide Large..As Pols Squawk
-Obama Killing Small Business (sentiment) by Design in USA
-Costco Reports 9.5 pc y/y inflation for goods and food they sell
- Greece 10-year gov’t yield at lowest level since April 2011 following completion of buy-back
-India planning gold grab, central bank gold loan program from Temple gold
-Unilever CEO Polman Says Europe Faces 10-Year Economic Slump
-Rothschilds Grime Gang Commands Lord Cameron to do battle with Brussels over City of London Piracy ‘Rights’.
-Another CIA/Shadow controlled ‘Mall Shooting’ in Oregon kills 2 plus Gunman as Obama administration ratchets up Bob Costas hysteria with domestic terrorism using MK Ultra
-British Columbia to float Yuan denominated bonds
-Merkel Threatens Berlusconi to not Target Berlin
-BOE Carney floats Dropping Inflation Targets , and Drastic Measures
-FED Admits to MIT (Jewish) Banker Gang and Secret Meetings in Basel Switzerland with no transcripts…WSJ. Global Rule by ‘International’ bankers, aka Jewish Bankers in plain view in WSJ
-FED Expected to add 45 Billion in New QE3 per month as Twist Draws to a close and maintain MBS purchases. FOMC Decision Day
-USAF Launches Secret Rocket /Shuttle of its own, 3rd X37B launch, Navy tests UCAS X47B on carrier
-U.S. recognizes Syrian opposition coalition
-HSBC Voted Number 1 bank by Mexican Drug Runners
-North Korea Successfully Launches Long Range Rocket, USA Military Refuses to Engage with HAARP or Anti-ICBM systems , Japan runs to USA for help.
-Boehner Sends Obama New Proposal After Market Closes on Tuesday
The ZGR was hacked shortly before the FMOC announcement. We are back on line at last. We saw the FED surprise even the most optimistic forecasters in its easing today and tied the easing duration the employment . Nevertheless the tape was manhandled by big banks who were able to front run the news and sold it, simply to rob anyone who speculated the economy was in deep trouble and the FED would ease and ease big. Gold was knocked for about 10 dollars ahead of the announcement and tried to rally to be overcome by the FEDs cartel. After all the media spent many days preparing the mind control message that QE was not inflation. Don’t worry the Chinese, and other major UST holders knows what a haircut looks like and that QE is the definition inflation. Today’s market reaction was Orwellian and even mighty PIMCO who got the right ‘tip’ at last from consultant Greespan was mystified by the tape today. One excuse after the next was offered by the media except the correct one, market manipulation, by the muscle guys, you know the Drug Laundry of HSBC, the CDS crime factory of JPM and GS, and the Libor riggers at DB, UBS, etc. 12-12-12 date is (2)6-2(6)- 2(6) so I guess the FED could not resist showing the globe it and its pals at the ESM/ECB and BOE were in charge of the tape and even put up an article about the International aka Jewish bankers, who meet in Switzerland to rig everything in secret in Basel Switzerland for the well read.
MARKETS – AT A GLANCE
Release Date: December 12, 2012
For immediate release
Information received since the Federal Open Market Committee met in October suggests that economic activity and employment have continued to expand at a moderate pace in recent months, apart from weather-related disruptions. Although the unemployment rate has declined somewhat since the summer, it remains elevated. Household spending has continued to advance, and the housing sector has shown further signs of improvement, but growth in business fixed investment has slowed. Inflation has been running somewhat below the Committee’s longer-run objective, apart from temporary variations that largely reflect fluctuations in energy prices. Longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee remains concerned that, without sufficient policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions. Furthermore, strains in global financial markets continue to pose significant downside risks to the economic outlook. The Committee also anticipates that inflation over the medium term likely will run at or below its 2 percent objective.
To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee will continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee also will purchase longer-term Treasury securities after its program to extend the average maturity of its holdings of Treasury securities is completed at the end of the year, initially at a pace of $45 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and, in January, will resume rolling over maturing Treasury securities at auction. Taken together, these actions should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.
The Committee will closely monitor incoming information on economic and financial developments in coming months. If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until such improvement is achieved in a context of price stability. In determining the size, pace, and composition of its asset purchases, the Committee will, as always, take appropriate account of the likely efficacy and costs of such purchases.
To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. In particular, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate 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. The Committee views these thresholds as consistent with its earlier date-based guidance. In determining how long to maintain a highly accommodative stance of monetary policy, the Committee will also consider other information, including additional measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Jerome H. Powell; Sarah Bloom Raskin; Jeremy C. Stein; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. Voting against the action was Jeffrey M. Lacker, who opposed the asset purchase program and the characterization of the conditions under which an exceptionally low range for the federal funds rate will be appropriate.
The EU Ecofin meeting was starting at the end of the EU day. I posted some choice and delusional comments as they trickled in. France and Germany sort of have a deal on the banking regulator. Of course David Cameron has been told to scuttle it, unless London is left unbridled to pirate Europe and the world. No word from the newsfakers or the EU how they plan on dealing with the criminals from the City of London and their plants in Europe. France under the Jew Hollande is hot to trot to start a war in oil and mineral rich Mali a virtually unexplored frontier. Of course the Jews in France want the USA to fight it for them and pay for it. The EU industrial production number was crushing and made fools of ALL the economists predicting a quick recovery and light recession. One thoughtful or hate illed Englishman on BBN-TV said it was time for the EU to follow the USA model and blow up all its Auto factories and ship the jobs to Asia.
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50||2601.33||2.69||0.10|
|Stoxx Europe 600||280.64||0.15||0.05|
|Euro Stoxx 50||2630.34||6.31||0.24|
|Austria: ATX Index*||2357.55||9.35||0.40|
|Denmark: OMX Copenhagen 20*||500.84||-1.64||-0.33|
|Estonia: OMX Tallinn*||701.40||12.15||1.76|
|Finland: OMX Helsinki*||5838.57||-13.77||-0.24|
|France: CAC 40*||3646.66||0.51||0.01|
|Greece: Athens General*||873.25||1.22||0.14|
|Greece: DJ Greece TSM*||678.33||0.65||0.10|
|Greece: FTSE/ATHEX 20*||304.25||0.49||0.16|
|Iceland: OMX Iceland All-Share*||648.13||2.97||0.46|
|Ireland: ISEQ Overall *||3332.52||-23.28||-0.69|
|Italy: FTSE MIB||15764.98||179.37||1.15|
|Latvia: OMX Riga*||386.57||2.24||0.58|
|Lithuania: OMX Vilnius*||351.37||1.55||0.44|
|Norway: OSE All-Share*||492.37||2.63||0.54|
|Portugal: PSI 20||5561.47||49.64||0.90|
|Russia: DJ Russia Titans*||6201.10||35.65||0.58|
|Spain: IBEX 35*||7986.80||65.90||0.83|
|Sweden: OMX Stockholm*||342.86||-1.22||-0.35|
|Switzerland: Swiss Market*||6959.39||-14.30||-0.21|
|UK: FTSE 100*||5945.85||20.88||0.35|
|UK: FTSE 250*||12224.31||33.73||0.28|
|UK: FTSE AIM All-Share*||688.51||0.71||0.10|
German 10y 1.34+0.02, – 1.59%
Italy 10y 4.59-0.08, 1.62%
Spain 10y 5.38-0.08, 1.42%
U.K. 10y 1.83+0.03, -1.68%
-MARKETS – AT A GLANCE
11:49 a.m. EST 12/12/12Major Stock Indexes
-German CO2 market riggers on the run..
Deutsche Bank AG (DBK) co-Chief Executive Officer Juergen Fitschen and Stefan Krause, the firm’s chief financial officer, are subjects of a tax probe involving the sale of carbon-emission certificates that led to five arrests and police raids on the lender’s Frankfurt offices. Fitschen and Krause’s approval of value-added tax statements for 2009 is being reviewed by prosecutors, Deutsche Bank said today in an e-mailed statement. Any errors in the document were corrected in a timely manner, the bank said. Prosecutors say the correction was too late, the lender said.The bank’s headquarters were searched and prosecutors are investigating 25 employees, Guenter Wittig, a spokesman for the Frankfurt General Prosecutor, said in a statement. Five workers were arrested over obstruction of justice and money laundering allegations, he said. He didn’t identify any suspects.“There’s suspicion the bank employees withheld evidence from the authorities and failed to report potential money laundering,” Wittig said, in reference to the obstruction of justice portion of the case. The bank was previously raided in 2010 as part of the case.Global investment banks are the subject of probes from Japanto Canada as regulators intensify their scrutiny of the industry. At Deutsche Bank, the CO2 probe adds to subpoenas and litigation stretching from alleged rigging of interbank lending rates to claims the bank misrepresented products tied to U.S. mortgages.
-Italy’s Beppe Grillo to CNBC: PM Mario Monti is a mere “bankruptcy curator” who “needs to disappear.”
too funny and too true.
-Robber Barons work to make sure 15 pc tax rate for Hedge Funds stays in Place with secret White House meeting.
The Obama administration is continuing its outreach to Wall Street executives in pressing for a resolution of the U.S. budget dispute, with a meeting planned today between Valerie Jarrett and hedge fund managers, according to an administration official. Jarrett, a senior adviser to President Barack Obama, will meet with financial services executives, including Daniel Och, chief executive of Och-Ziff Capital Management, according to the official, who requested anonymity when discussing private meetings.Others scheduled to attend, the official said, include Stefan M. Selig, executive vice chairman of global corporate and investment banking at Bank of America/Merrill Lynch; Jonathan D. Gray, global head of real estate at Blackstone Group Management LLC; and Jes Staley, chairman of JPMorgan Chase & Co.’s corporate and investment bank. Today’s Wall Street session with Jarrett, reported earlier by the New York Times, follows her meeting on Dec. 3 with Marc Lasry, managing partner and founder of Avenue Capital Group LLC, and Gary D. Cohn, president of Goldman Sachs Group Inc. Two days later, Obama also addressed the Business Roundtable, an association of chief executive officers, and repeated his argument that more tax revenue needs to come from the top 2 percent of earners while rates for middle-income Americans stay the same.
-Sweden Fin Min: Don’t See Sweden Joining Banking Union.
-Saudi oil minister confirms Opec Secretary General Badri to stay for further year – Reuters
The Sauds holding production level sets up the global for a big price spike in Q2-Q3. Demoniacs. Cartels are illegal in the USA, and the USA should bust up the OPEC price fixing gang, ex we know, to no one is the price of oil more important than to the English Crown and its bankers. The higher the better for the English Crown. They love it.
-FED Conference call Link for today
Watch live today at 2:15 p.m. ET, press conference with Chairman Bernanke:
-Now here is a realist, and why Russia should run Europe..not England or Germany..
“Don’t cheer so soon, you might not like what I am going to say next.”
Russian Pres Putin addressing the Federal assembly
-Another EU nutter…
French FinMin Moscovici says he thinks banking supervisor deal can be reached tonight and no additional meetings needed next week.(Ecofin meeting today)
-PIMCO Confident on QE3
Gross: Feds Twist ends – more check writing begins – 500 billion a year – money for nothin – no cost to govt.
-Berkshire Hathaway buys back $1.2 billion of Class A stock
-BBN TV is really listenable today with so many Jews like Stephanie Rude on the Jewish holiday vacation schedule. The only reasons for Jews to employ Gentiles is as Shabbas goys and to do their work when they don’t want to show up for work.
-James Harding quits as editor of the Times. John Witherow will move from Sunday Times to replace him., BBC
-Greece’s success in debt buyback qualifies it for delayed aid payments: Germany Deputy FM Kampeter in letter to his parliament obtained by BBN
-Schauble on banking union: “We are only to do the stupid work of deciding legislation.”
-Bundesbank Weidmann: Lowering Interest Rates to Safeguard State Solvency Leads to Inflation.
-Eu nutjob quote of the day. ..Spanish Economy Minister Luis de Guindos: Very important to convey the message that we do have a plan.
|-MARKETS – AT A GLANCE|
-1057 I’m putting a tight stop under APPL if the FED disappoints and will probably program a short DIA trade and cover order just ahead of the FOMC as I don’t see them meeting the expectation of 45 billion in new UST purchases plus continuing the 40 billion in MBS purchases. I hope I’m wrong, but don’t think they are ready to hit the print button yet. Nice that Europe and Asia will be closed during the FOMC giving us some choice chances for positioning for the overnight trade.
-As markets tread water ahead of the FOMC and Bernankes Press Conference. I wanted to mention the Indian gold grab story from Bloomberg. India has a problem. It’s currency is toilet paper due to the amount of money printing the central bank does and with the debt and deficits run up by the Pols. Ad India has not allowed much mining, thus they don’t have any gold, which means they run a big trade deficit to import it, which makes their currency weaker which raises inflation, which increases the demand for gold, which decreases the value of their currency. So the brilliant solution the Gold Merchants want is a 3 years supply of gold to be ‘lent’ to them so India won’t have to import anymore gold then run a sort of fractional gold reserve system. Eventually Indian physical demand will be supplanted by Chinese demand and the need to back currency with gold. But the collapse of the Indian Rupee this year has prevented the traditional run up in gold. India is getting close to confiscation of gold and/or banning the import thereof, although it will just be smuggled in.
-1016 Time for some vitamins, and v8 and another cup of coffee. brb.
-Newslink update completed. If I see one more article today on how Bernanke has inflation under control, especially after Costco 9.5 pc inflation report, I’m going to need a long , long vacation. The media are whores and news- fakers and quite few other expletives like Benedict Arnold.
-MARKETS – AT A GLANCE, Post Pols Speaking
-1002 Boehner speaking- Republicans willing to raise taxes, Obama not willing to cut taxes. Nothing new
-955 USA Broad Market
|DJ Transportation Average||5194.59||4.64||0.09|
|DJ Utility Average||455.18||1.11||0.24|
|DJ Composite Average||4449.56||9.29||0.21|
|DJ Total Stock Market||14856.20||37.23||0.25|
|DJ Broad Stock Market||3532.72||8.87||0.25|
|DJ Large-Cap Growth TSM||3469.35||6.12||0.18|
|DJ Large-Cap Value TSM||3049.64||10.61||0.35|
|DJ Mid-Cap Growth TSM||5398.86||14.65||0.27|
|DJ Mid-Cap Value TSM||4836.99||9.12||0.19|
|DJ Small-Cap Growth TSM||4720.23||9.14||0.19|
|DJ Small-Cap Value TSM||6137.36||3.76||0.06|
|DJ Micro-Cap TSM||7499.17||1.56||0.02|
|DJ Select REIT||207.91||-1.04||-0.50|
|DJ U.S. Select Dividend||414.58||0.56||0.14|
|S&P 400 Mid-Cap||1014.52||1.58||0.16|
|S&P 600 Small-Cap||468.24||0.10||0.02|
|S&P 1500 SuperComp||330.57||0.86||0.26|
|NYSE Health Care||8058.74||14.68||0.18|
|NYSE Arca Biotech||1564.46||-1.18||-0.08|
|NYSE Arca Pharmaceutical||377.69||0.02||0.01|
|NYSE Arca Tech 100||1294.17||1.25||0.10|
|NYSE Arca Internet||326.04||0.48||0.15|
|NYSE Arca Sec. Broker/Dealer||88.12||0.52||0.59|
|NYSE MKT Composite||2404.38||12.37||0.52|
|Morgan Stanley High Tech||685.13||-0.98||-0.14|
|PHLX Housing Sector||162.59||0.12||0.07|
|PHLX Oil Service||223.15||1.31||0.59|
-Why California is going broke
Mohammad Safi, a graduate of a medical school in Afghanistan, began working as a psychiatrist at a California mental hospital in 2006, making $90,682 in his first six months. Last year, he took home $822,302, all of it paid by taxpayers.Safi benefited from what amounted to a bidding war after a federal court forced the state to improve inmate care. The prisons raised pay to lure psychiatrists, the mental health department followed suit to keep employees, and costs soared. Last year, 16 California psychiatrists, including Safi, made more than $400,000, while only one did in the other 11 most populous states.
-0948 -Reid, ‘we are going over the Cliff, unless (Republicans) agree to tax rate increases’.
-938 BBN-TV reports, that Boehner says Obama is not being reasonable in his closed door meeting with Republican party. Boehner to speak to news media at 1000.
-Notice how Bloomberg/CNBC can never strip the inflation figure out of the Costco report and report the 9.5 % cost increases. Probably lose your job as a news faker if you mentioned that.
-Europe News of the Day
Euro zone factory output continued its steep fall in autumn this year, underscoring the feeble domestic demand that risks prolonging the bloc’s recession. Industrial production in the 17 countries sharing the euro fell 1.4 percent in October after falling sharply percent in September, the EU’s statistics office Eurostat said on Wednesday.
As the ZGR has stated, it is getting worse not better in Europe
- Analysts at Sterne Agee said Wednesday they expect shares of the computer maker to remain volatile until the end of the year. Analysts cited, “non-fundamental factors including profit taking as AAPL has been an outstanding performer in 2012 where many are opting to lock in gains and fears of higher ‘fiscal cliff’ tax rates next year.” Analysts said checks with suppliers signal a possible upside surprise in Apple’s iPhone profitability. However, iPad “could come in light” due to supply constraints on the iPad mini and lower builds for the fourth generation iPad, “likely due to some cannibalization from iPad mini.” Shares of Apple rose 1.2% in premarket trades.
-Government/Bank Revolving Criminal Door
Barclays PLC Wednesday said Hector Sants, the former chief executive of the U.K.’s Financial Services Authority, will join the bank next year in a new role as head of compliance, as the bank seeks to repair its reputation after a series of regulatory penalties for inadequate systems and employee misbehavior. Barclays said Mr. Sants, who left the financial regulator at the end of June, will join the bank’s executive committee and report to Chief Executive Antony Jenkins. Mr. Sants starts Jan. 21.
-0925 Futures are moving up
- Apple Inc.AAPL +2.18% is working with component suppliers in Asia on several designs for TV sets, potentially indicating the company is set to expand its home-entertainment offerings, The Wall Street Journal reported Wednesday, citing people familiar with the situation. The report cited officials at some of Apple’s suppliers, who said the company has been testing designs for a large-screen, high-resolution TV. People familiar with the efforts said Apple has been testing various TV prototypes for a number of years, the newspaper reported, noting that the company generally tests and develops products internally before working with outside supplier.
-Costco Wholesale Corp.’s COST -0.65% fiscal first-quarter earnings surged 30% as the wholesale club recorded strong revenue growth. For the quarter ended Nov. 25, the company reported a profit of $416 million, or 95 cents a share, versus a year-ago profit of $320 million, or 73 cents a share. The year-ago period included a net seven cent per-share charge due to the settlement of an income tax audit of Costco’s 50% owned Mexico joint venture as well as contributions made to support a ballot initiative in Washington state.Total revenue jumped 9.6% to $23.72 billion. Analysts polled by Thomson Reuters expected earnings of 93 cents a share on $23.67 billion in revenue.Revenue from membership fees rose 14% to $511 million. Last November, Costco raised membership fees by 10% in the U.S. and Canada, the first increase in five years.Operating margin widened to 2.7% from 2.5%, even as merchandise costs increased 9.5%.Total same-store sales were up 6% for the period, excluding currency fluctuations and inflation in gasoline price. Same-store sales increased 6% in the U.S. and 7% internationally.Last month, Costco unveiled a special per-share dividend of $7, a move that will cost the company an estimated $3 billion
-Prices paid for goods imported into the U.S. fell 0.9% in November, mainly because of lower energy costs, the Commerce Department said Wednesay. Economists surveyed by MarketWatch forecast a 0.5% decline. For October, the import-price index was revised down to an increase of 0.3% from an initial reading of 0.5%. Excluding fuel, import prices fell by 0.2% last month. Fuel costs sank 3.0% in November. The price of U.S.-made goods exported to other nations, meanwhile, fell 0.7% last month.
-Seagate Technology Inc. STX +0.42% fell 3.6% to $28 a share in premarket trades on Wednesday after J.P. Morgan cut its rating on the company to underweight from neutral and reduced its price target to $20 a share from $25. Analyst Mark Moskowitz said macroeconomic and secular factors “stand to pressure the company’s revenue and gross margin profiles.” While shares could move up in the next 30-45 days on speculation of a leveraged buyout, “our call is on the fundamentals,” he said in a note to clients.
- ECB’s Praet: Interest rates only have a small amount of maneuvering room, ECB strongly evaluating economic signals – financial press; Notes the ECB is technically prepared for a negative deposit rate but full impacts must be evaluated, must be careful with negative rates
- Update on Greece’s debt buyback: Offers above €31B, Debt buyback to bring down debt levels to 126.6%/GDP (below the 124% target); Average price of the buyback came in at €0.335
- Italy Democratic Party chief Bersani: Would be best for PM Monti not to run in upcoming elections; Italy will remain in European Union no matter what; Italy needs austerity now.
- Portugal contingency plan if the govt fails to meet 2013 deficit target includes state employee payroll cuts as well as efficiency improvements- Jornal de Negocios
- For the first 9-months, Spain’s regions said to owe suppliers around €13B – Spanish Press
- US House Speaker Boehner does not find the reduced $1.4T White House offer as acceptable – financial press; The counter offer did not substantially change earlier $800B increase in tax revenue.
- House Speaker Boehner aide: GOP made a counter-proposal today to a new offer proposed by the White House on the fiscal cliff on Monday – financial press
- US President Obama is optimistic on fiscal deal; adds that time is running short – financial press
- US President Obama, House Speaker Boehner held phone conversation regarding fiscal cliff Tuesday evening – financial press
- Senate Majority Leader Reid (D-NV): Will be hard to reach a deal by Christmas
|US Cotton No.2||74.86||-0.04||-0.06%|
|US Coffee C||148.95||-0.07||-0.05%|
- Greece Debt Agency (PDMA) confirmed bond buy back price at avg 33.8 cents on the euro. It would accept €1.29B in EFSF financing if offered
- IMF’s Selassie reiterated view of strong progress being made in Portugal’s reforms. Further drag on growth from fiscal adjustment is one of the risks. One third of the adjustment to still be one
- ESM head Regling said Spain’s yields were sustainable, reiterates did not believe the country would need more funds
- OPEC expected to maintain current oil production quotas at meeting today and will not discuss individual country quotas. Debate over new Sec Gen will be a harsh one with Libya’s Abdullah al-Badri likely to be asked to stay in the post for another six months
- Czech Central Bank Vice Gov Tomsik: Negative interest rates are possible but not the optimal solution
- IEA Monthly Oil Market Report slightly increased its global oil demand forecast by 100K bpd for 2012 and 2013. It now forecasted 2013 oil demand growth at 865K bpd but noted demand growth to remain sluggish. It saw 2013 global oil demand at 90.5M bpd and raised 2013 Non-Opec supply forecast by 70K bpd to 54.2M bpd. It maintained 2013 avg OPEC stocks at 29.9M bpd. It stated that 5 of world’s top 10 oil consumers were now Non-OECD countries
- OPEC oil ministers comments ahead of meeting
UAE Oil Min: OPEC production is at levels the market needs; global economy is struggling and need to watch developments closely; Sec Gen must be unanimously elected. Iran Oil Min: Oil production cut would be better for the market as market is over supplied; not expecting any deal on individual country quotas. Libya Oil Min: Oil processes are comfortable for both suppliers and consumers; production now back to normal in Libya. Iraq Oil Min: Will not cut its own production. Ecuador Oil Min: Current oil prices are comfortable for consumers and producer
- 910 Major European Credit Markets
Italy Debt Agency (Tesoro) sold €6.5B vs. €6.5B indicated in 12-month Bills ; Avg Yield 1.456% (lowest since March) v 1.762% prior; Bid-to-cover: 1.94x v 1.76x prior
German 10y, 1.33+0.01, – 0.83%
Italy 10y 4.62-0.05, 0.98%
Spain 10y 5.37-0.09, 1.61%
U.K. 10y 1.82+0.02, -1.12%
- Europe Economic Releases
(DE) Germany Nov Final Consumer Price Index M/M: -0.1% v -0.1%e; Y/Y: 1.9% v 1.9%e
(DE) Germany Nov Final CPI EU Harmonized M/M: -0.2% v -0.1%e; Y/Y: 1.9% v 2.0%e
(FR) France Oct Current Account: -€2.8B v -€3.4B prior
(FR) France Nov Consumer Price Index M/M: -0.2% v 0.0%e; Y/Y: 1.4% v 1.6%e; CPI Ex Tobacco Index: 124.61 v 124.77e
(FR) France Nov CPI EU Harmonized M/M: -0.2% v 0.0%e; Y/Y: 1.6% v 1.8%e
(ES) Spain Oct House transactions Y/Y: 12.8% 0.9% prior
(ZA) South Africa Nov CPI (all items) M/M: 0.0% v 0.2%e v; Y/Y: 5.6% v 5.6%e
(EU) ECB: €507M borrowed in overnight loan facility vs. €569M prior; €236.7B parked in deposit facility vs. €229.0B prior
(NL) Netherlands Oct Trade Balance: €3.6B v €3.6B prior
(IC) Iceland Central Bank (Sedlabanki) left its 7-day Lending Rate at 6.00%
(UK) Nov Jobless Claims Change: -3.0K v +7.0Ke; Claimant Count Rate: 4.8% v 4.8%e; Employment Change 3M/3M: +40K v +45Ke
(UK) Oct Average Weekly Earnings 3M/Y: % v 1.9%e; Weekly Earnings ex-Bonus 3M/Y: % v 1.9%e
(UK) Oct ILO Unemployment Rate: % v 7.8%e
(EU) Euro Zone Oct Industrial Production M/M: -1.4% v 0.0%e; Y/Y: -3.6% v -2.4%e
(CH) Swiss Dec Credit Suisse ZEW Expectations Survey: -15.5 v -27.9 prior
(PT) Portugal Nov Consumer Price Index M/M: -0.3%% v -0.1%e; Y/Y: 1.9% v 2.2%e
(PT) Portugal Nov CPI EU Harmonized M/M: -0.4% v -0.2%e; Y/Y: 1.9% v 2.1%e
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50||2604.49||5.85||0.23|
|Stoxx Europe 600||280.97||0.48||0.17|
|Euro Stoxx 50||2631.45||7.42||0.28|
|Austria: ATX Index||2356.59||8.39||0.36|
|Denmark: OMX Copenhagen 20||500.93||-1.55||-0.31|
|Estonia: OMX Tallinn||701.40||12.15||1.76|
|Finland: OMX Helsinki||5856.32||3.98||0.07|
|France: CAC 40||3647.19||1.04||0.03|
|Greece: Athens General||874.86||2.83||0.32|
|Greece: DJ Greece TSM||680.49||2.81||0.41|
|Greece: FTSE/ATHEX 20||305.14||1.38||0.45|
|Iceland: OMX Iceland All-Share||647.20||2.04||0.32|
|Ireland: ISEQ Overall||3343.24||-12.56||-0.37|
|Italy: FTSE MIB||15751.44||165.83||1.06|
|Latvia: OMX Riga||386.57||2.24||0.58|
|Lithuania: OMX Vilnius||351.37||1.55||0.44|
|Norway: OSE All-Share||492.97||3.23||0.66|
|Portugal: PSI 20||5548.96||37.13||0.67|
|Russia: DJ Russia Titans||6217.45||52.00||0.84|
|Spain: IBEX 35||7974.20||53.30||0.67|
|Sweden: OMX Stockholm||342.91||-1.17||-0.34|
|Switzerland: Swiss Market||6982.89||9.20||0.13|
|UK: FTSE 100||5940.83||15.86||0.27|
|UK: FTSE 250||12215.02||24.44||0.20|
|UK: FTSE AIM All-Share||687.69||-0.11||-0.02|
-USA set to open flat to up
|Futures Index||Value||% Change||Open||High||Low||Time|
|DJIA INDEX FUTURE Dec12||13,291.00||+0.10%||13,274.00||13,303.00||13,266.00||08:46:19|
|S&P 500 FUTURE Dec12||1,433.20||+0.12%||1,430.80||1,435.40||1,429.30||08:46:17|
|NASDAQ 100 FUTURE Dec12||2,692.75||+0.26%||2,687.50||2,694.00||2,684.00||08:41:03|
-330 Broad EU Market
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50||2598.36||-0.28||-0.01|
|Stoxx Europe 600||280.50||0.01||0.00|
|Euro Stoxx 50||2626.33||2.30||0.09|
|Austria: ATX Index||2348.20||16.55||0.71|
|Denmark: OMX Copenhagen 20||500.90||-1.58||-0.31|
|Estonia: OMX Tallinn||694.21||4.96||0.72|
|Finland: OMX Helsinki||5851.27||-1.07||-0.02|
|France: CAC 40||3643.92||-2.23||-0.06|
|Greece: Athens General*||872.03||19.40||2.28|
|Greece: DJ Greece TSM||677.79||16.22||2.45|
|Greece: FTSE/ATHEX 20*||303.76||6.88||2.32|
|Iceland: OMX Iceland All-Share*||645.16||-1.77||-0.27|
|Ireland: ISEQ Overall||3352.74||-3.06||-0.09|
|Italy: FTSE MIB||15663.09||77.48||0.50|
|Latvia: OMX Riga||387.69||3.35||0.87|
|Lithuania: OMX Vilnius||350.34||0.52||0.15|
|Norway: OSE All-Share||489.69||-0.05||-0.01|
|Portugal: PSI 20*||5511.83||75.65||1.39|
|Russia: DJ Russia Titans||6206.97||41.52||0.67|
|Spain: IBEX 35||7945.40||24.50||0.31|
|Sweden: OMX Stockholm||343.26||-0.82||-0.24|
|Switzerland: Swiss Market||6970.27||-3.42||-0.05|
|UK: FTSE 100||5923.09||-1.88||-0.03|
|UK: FTSE 250||12200.27||9.69||0.08|
|UK: FTSE AIM All-Share||688.72||0.92||0.13|
-India planning gold grab..
India, the world’s largest bullion buyer, should mobilize idle gold lying with its citizens to curb imports and lower a record current-account deficit, according to the All India Gems & Jewellery Trade Federation.Households and temples carry about 25,000 metric tons and a successful plan to gather at least 10 percent of the gold reserves for lending to jewelers will ensure supplies for three years, Bachhraj Bamalwa, chairman of the federation, which represents about 300,000 jewelers, said in a phone interview. The plan should be run by the central bank, which can help India halt imports for three years, he said.India is grappling with the highest ever current-account deficit, the broadest measure of trade, mainly because of its gold and crude oil imports, weakening the rupee to a record against theU.S. dollar. The central bank is mulling a gold investment plan to curb the deficit, Deputy Governor Subir Gokarn said last month. Imports climbed to a record 969 tons last year, according to the World Gold Council.“The only way India can reduce its dependence on imports is to tap the gold lying with individuals and temples,” Kishore Narne, head of commodity and currency at Motilal Oswal Commodity Broker Pvt., said in a phone interview. “By doing this, the country can reduce influx of gold at these high prices. Appetite for gold is never going to diminish.”
-ESM PPT Market rigger emerges from shadows.. ESM head Regling: Spain 10-year bond yields at ~5% are “sustainable” and entered a “virtuous circle,” has “never lost market access”.
first time I have every heard of an inflationary depression and economic contraction spiral as ‘virtuous circle’.
-Details of USA trading day ahead..
MBA Purchase Applications 7:00 AM ET
Import and Export Prices 8:30 AM ET
EIA Petroleum Status Report 10:30 AM ET
10-Yr Note Auction 11:30 AM ET
FOMC Meeting Announcement 12:30 PM ET
FOMC Forecasts 2:00 PM ET
Treasury Budget 2:00 PM ET
Chairman Press Conference 2:15 PM ET
-300 EU opens flat
French CAC 40 index flat at 3,647.02
German DAX 30 index opens flat at 7,596.0
FTSE 100 index opens slightly higher at 5,930.28
Stoxx Europe 600 index opens flat at 280.59
German 10y 1.34+0.02, – 1.59%
Italy 10yr 4.68+0.01, – 0.30%
Spain 10yr 5.46+0.00. -0.04%
-Most members of the Organization of Petroleum Exporting Countries are signaling they’ll keep production policy unchanged at a meeting in Vienna today as the group struggles to agree on a new secretary-general.While OPEC’s own forecasts show that it’s pumping more than consumers need, Saudi Arabia,Iraq, Iran, the United Arab Emirates, Angola, Ecuador and Libya have indicated that supply and demand are approximately in balance, suggesting that the group will stick to its official output target of 30 million barrels a day. Brent crude is heading for its highest-ever annual price, averaging $111.78 a barrel so far this year in London.
-PSA Peugeot Citroen (UG), Europe’s second-largest carmaker, will eliminate an additional 1,500 jobs by 2014, deepening its workforce reduction as auto sales in the region plunge to a 17-year low.The cuts, which come on top of 8,000 announced in July, will be made by not replacing people who leave, Jonathan Goodman, a spokesman for the Paris-based company, said in a telephone interview.
-The Senate Banking Committee is scheduled Dec. 18 to take a look at dark pools, off-exchange trading venues where the identity of the buyer or seller are not publicly disclosed. Sen. Jack Reed, Democrat of Rhode Island, has scheduled a hearing titled “Computerized Trading Venues: What Should the Rules of the Road Be?” Lawrence Leibowitz, chief operating officer at NYSE Euronext, Dan Mathisson, chief of U.S. equity trading at Credit Suisse Securities LLC, Eric Noll, an executive vice president at NASDAQ OMX and Robert Gasser, CEO at ITG, are scheduled to testify.
Notice only banksters are allowed a voice. No ‘sheeple or public institutions allowed to testify.
-Microsoft Corp. (MSFT) Chairman Bill Gates’ Cascade Investment firm acquired three million additional shares of Deere & Co. (DE), raising his leading stake in the farm equipment manufacturer to 7%, according to a regulatory filing Tuesday
-Japan’s Nikkei ends 0.6% higher at 9,581.46
-Greece completed its bond buyback program on Tuesday, accepting tenders for 31.8 billion euros’ worth of government paper and clearing the way for the disbursement of the country’s next, long-awaited bailout tranche.The extended deadline for bondholders to take part expired at 2 p.m. Greek time, by when the target had been met, largely due to an added contribution from local banks. However, several unresolved issues remain.Greece is borrowing 10 billion euros to execute the buyback, with the aim of reducing its public debt by 21.1 billion euros. The average offer to buy back the bonds 33.8 percent of the principal amount, which means that Greece needs to spend 11.2 billion euros in total. It is not clear where the extra 1.2 billion euros will come from.Greece’s lenders had estimated that the country’s debt would be reduced by 11 percent but in fact the difference will be less than 10, so eurozone finance ministers discussed during a teleconference on Tuesday night how to reduce it from 126.6 percent of GDP to 124 percent, which the International Monetary Fund had set as a benchmark in order to continue participating in the Greek program.The issue will be discussed further at Thursday’s Eurogroup meeting in Brussels.There was no official statement as Athens is expected to make an official announcement about the scheme on Wednesday morning, but a European official told Bloomberg that eurozone finance ministers concluded there were no insurmountable obstacles to the next loan installment, which is worth 34.4 billion euros.
-The Lords EU sub-committee has called for the Prime Minister to use Wednesday’s European Summit to secure protection for the City and prevent the UK being isolated.In a report published on Wednesday, Lord Harrison, chairman of the committee, said: “While the UK will not participate in banking union, we fear that the Government’s confidence that the City of London’s pre-eminence may be retained could prove misplaced. A eurozone banking union could place the single market for financial services under severe strain, with worrying implications for the UK. “The Government must do all in their power to ensure London remains on top.”
-The Pentagon has approved a deal to supply 6,900 precision bomb kits to replenish Israel’s weapons stockpiles, diminished by the recent war against Hamas in Gaza. The contract is valued at $647 million.“The United States is committed to the security of Israel, and it is vital to U.S. national interests to assist Israel to develop and maintain a strong and ready self-defense capability,” the Pentagon said in a statement. The deal is expected to sail through formal approval by legislators.The Boeing-made Joint Direct Attack Munitions are complex electronic guidance devices fitted onto missiles to make them vastly more accurate. Precision air-strikes were the main tactic employed by Israel during the 8-day attack on Gaza last month.10,000 explosive charges are also part of the contract. Of these, 3,450 are one ton bombs, 1725 bombs weighing 250 kilograms with the rest being BLU-109 and GBU-39 bunker busters.The Gaza bombardment, which Israel says it started in response to more than 2,000 Palestinian rockets launched this year, has been costly for both sides.Palestinian authorities said that the cost of 120 buildings destroyed and 8,000 damaged buildings amounted to $1.2 billion. Meanwhile, military operation Pillar of Defense cost Israel around $760 million. Officials estimate the conflict also indirectly cost the country $1.8 billion in lost tourist revenues.
-Futures point to a flat opening in Europe and the USA
|Futures Index||Value||% Change||Open||High||Low||Time|
|DJIA INDEX FUTURE Dec12||13,277.00||-0.01%||13,274.00||13,282.00||13,266.00||02:03:39|
|S&P 500 FUTURE Dec12||1,430.80||-0.05%||1,430.80||1,431.70||1,429.30||02:06:21|
|NASDAQ 100 FUTURE Dec12||2,686.50||+0.03%||2,687.50||2,688.00||2,684.25||02:06:21|
|EURO STOXX 50 Dec12||2,628.00||+0.19%||2,628.00||2,628.00||2,626.00||02:04:05|
|FTSE 100 IDX FUT Dec12||5,930.50||+0.03%||5,931.00||5,938.50||5,928.50||02:02:19|
|DAX INDEX FUTURE Dec12||7,596.50||+0.05%||7,596.50||7,597.50||7,591.00||02:04:0|
-Canada’s British Columbia embarked on a one-week roadshow on Monday to promote offshore renminbi bond issuances in Hong Kong and Singapore.The event is meant to gauge investor interest in bonds issued in China’s currency. At a minimum, the province plans to have 500 million yuan ($80.17 million) worth of bonds issued in the offshore renminbi market. The offering will take place in January at the earliest, said Jim Hopkins, assistant deputy minister at the British Columbia Ministry of Finance.
The USA should have grabbed Canada before the English Crown leased it to their Jewish Cousins that run Hong Kong and that now sit in the Communist Politburo under Xi.
-US Navy conducts X-47B (UCAS) taxi trials on carrier. China Daily.
-Members of the Muslim Brotherhood are resorting to vigilante justice in Egypt’s power struggle. During clashes with opponents of President Mohammed Morsi last Wednesday night, the Islamists took prisoners and tortured them with beatings. Eyewitness reports suggest that the police tolerated the attacks.
-Delta buys 49pc stake in Virgin. English Press
-Carney broaches dumping inflation target. Next BoE governor hints at radical measures if needed. FT
-White ethnic Britons in minority in London . Census points to cosmopolitan capital diverging from country. Christianity in major decline in UK. DT/FT.
-Three men arrested in UK Libor inquiry. Former UBS employee among those held by police. FT
- BHP: To sell stake in Browse LNG for approx $1.63B in cash – financial press
- RIO: Rio Tinto and Anglo American sell their combined stake of 74.5% in South Africa’s copper producer Palabora Mining to Chinese investors for A$446M – The Australian
- BLD.AU: To raise prices for concrete by $14/cm and premium aggregates by $5/ton – AFR
- MAH.AU: Looking to raise A$80.7M; Guides FY13 Net profit nil-A$25M; mining Rev A$1.2B; FY14 Rev A$1.4B
- TM: Pres Toyoda: Autos are still a growth industry; Global production is growing 4% annually – Nikkei News
- Canon CAJ: Planning to cut ¥70-80B in costs in FY13; About 20% cost reduction at ¥60B expected in FY12, down from ¥100B prior target – Nikkei News
- Mitsubishi Motors.JP : Withdrawing from Europe operations will add ¥15B to profit
- Panasonic PC: Will sell the Sanyo electric digital camera business to Advantage Partners LLP in March – Japan press
- Obayashi.JP: Develops new soil remediation technique requiring 30% less time and funding than current methods – Nikkei News
- GLD: SPDR Gold Trust ETF daily holdings fall by 1.9 tons to 1,351.4 tons (first decline since Nov 14th)
- (US) API PETROLEUM INVENTORIES CRUDE: +4.27M V -1.5ME (largest build since late Aug); GASOLINE: +2.76M V +2.5ME; DISTILLATE: +2.24M V +1.5ME; UTILIZATION: 90.5% V 89.6% W/W
- USD/JPY: Rises to session highs above ¥82.60 after reports of a rocket launch
-China state researcher forecasts 2013 Foreign Direct Investment (FDI) to rise 3% . China to highlight urbanization at upcoming central economic meeting; Economic policy to remain unchanged. China Railway Ministry reports fixed asset investment in railway construction to Nov +3.1% y/y – China Daily
- According to NEA, China power consumption in November rose about 9% y/y to 420B KWH – China Daily
- Singapore Central Bank survey of economists: Sees Singapore 2012 GDP to grow by 1.5%, 2013 by 2.7% – financial press
- IMF releases report on Hong Kong: Sharp rise in house prices raises risk of abrupt correction
- Japan LDP-expected to win 300+ seats in the Lower House – Mainichi News
-125 Asia Economic Release Summary
(JP) JAPAN OCT TERTIARY INDUSTRY INDEX M/M: -0.1% V -0.4%E (first decline in 3 months)
(JP) Japan Oct Conference Board Leading Economic Index m/m: 92.7 v 93.2 prior
(JP) JAPAN NOV DOMESTIC CGPI M/M: 0.0% V 0.0%E; Y/Y: -0.9% V -0.9%E (smallest decline in 6 months)
(JP) JAPAN OCT MACHINE ORDERS M/M: 2.6% V 3.0%E; Y/Y: +1.2% V 5.0%E
(AU) AUSTRALIA OCT RBA CREDIT CARD BALANCES: A$49.0B V A$49.1B PRIOR; RBA CREDIT CARD PURCHASES: A$22.5B V A$19.5B PRIOR
(AU) AUSTRALIA DEC WESTPAC CONSUMER CONFIDENCE INDEX: 100.0 V 104.3 PRIOR; M/M: -4.1% V +5.2% PRIOR (first decline in 4 months)
(IN) INDIA OCT INDUSTRIAL PRODUCTION Y/Y: +8.2% V +5.1%E
(IN) INDIA NOV CPI Y/Y: 9.9% V 9.8% PRIOR
(KR) SOUTH KOREA NOV UNEMPLOYMENT RATE: 3.0% V 3.1%E
(KR) SOUTH KOREA OCT L MONEY SUPPLY Y/Y: 0.1% V 0.3% PRIOR; M2 Y/Y: 0.2% V 0.1% PRIOR
(KR) SOUTH KOREA NOV BANK LENDING TO HOUSEHOLDS (KRW): 461.6T V 460.5T PRIOR (2nd consecutive rise)
- 110 Asian equities were mixed once again Wednesday despite news that North Korea launched a long-range rocket, a move that is in clear violation of sanctions by the West. The South Korean Defense Ministry and the Japanese government confirmed the launch and the Japanese government failed to intercept and destroy the rocket as they said they would. In Asian trading Wednesday, Japan’s Nikkei 225 jumped 0.66 % despite some less than expected economic news (machinery orders rose 2.6% in October that missed economists’ estimates calling for an increase of 3%, but it was enough to stem two months of declines). Despite news of the North Korean rocket launch, South Korea’s Kospi added 0.44 %. Hong Kong’s Hang Seng rose 0.62 %. On the mainland the Shanghai Composite slumped 0.13% and the Shenzhen Composite dropped -.9 %. The Topix will rally 14 percent in the next six months as automakers lead gains amid a stronger global economy, said Kathy Matsui, the chief Japan strategist at Goldman Sachs Group Inc, a notoriously bad forecaster.
Asian equities in general were biased higher as traders bet the Federal Reserve will announce new bond-buying measures at the conclusion of its last monetary policy meeting of 2012 later today. With essentially no room to pare interest rates and the end of Operation Twist looming later this month, the Fed may be forced to appease the market by unveiling additional easing measures and the global press set the expectation for up to 45 billion a month in new UST purchases to replace operation TWIST. Bill Gross of PIMCO tipped front running the UST five years as the trade to make. (You sell the news obviously if it happens. )
Mitsubishi Motors Corp. jumped 8.9 percent after the Nikkei newspaper reported the Japanese car maker’s withdrawal from European production will boost its profit. Guoco Group (53) Ltd. surged 29 percent in Hong Kong after a group led by Malaysian billionaire Quek Leng Chan offered HK$8.25 billion ($1.1 billion) to take the company private.
Then there is the of the fiscal cliff noise and market chaff- News broke during Tuesday’s U.S. session that President Obama and House Speaker John Boehner had exchanged proposals to avert the fiscal cliff, and the WSJ lead with a misleading story that talks were make progress and were substantive. That news sent U.S. equities soaring during USA trading, but the gains were pared noticeably later in the session after Senate Majority Leader Harry Reid deemed solving the fiscal cliff “difficult” and after House Majority Speaker Boeher called the Obama counter proposals ‘not serious’ from the House floor and implied Obama was refusing to considering offsetting budget cuts to match the tax raises.
In Australia, the benchmark S&P/ASX200 gained 0.4% to trade up to a new 2012 high before declining to a gain of only .17 pc. In New Zealand, the the NZSE 50 fell .77 % to join the Mainland China Stocks in the laggard category in Asian trading.
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1289.10||6.25||0.49|
|Australia: All Ordinaries*||4591.80||10.50||0.23|
|China: DJ CBN China 600||18636.51||-21.69||-0.12|
|China: DJ Shanghai||255.39||-0.21||-0.08|
|China: Shanghai Composite||2068.18||-6.53||-0.31|
|China: Shenzhen Composite||785.87||-7.47||-0.94|
|China: Shanghai 50||1643.83||-1.18||-0.07|
|Hong Kong: Hang Seng||22458.37||134.43||0.60|
|India: BSE Sensex||19374.11||-13.03||-0.07|
|India: S&P CNX Nifty||5892.35||-6.45||-0.11|
|Indonesia: JSX Index||4326.73||8.81||0.20|
|Indonesia: JSX BISNIS 27||366.13||4.18||1.15|
|Indonesia: JSX Islamic||595.40||-0.06||-0.01|
|Indonesia: JSX LQ-45||739.49||2.94||0.40|
|Japan: DJ Japan TSM*||493.30||3.12||0.64|
|Japan: Nikkei Average||9580.98||55.66||0.58|
|Japan: TOPIX Index||791.29||5.22||0.66|
|Malaysia: DJ Malaysia TSM||3046.47||6.17||0.20|
|Malaysia: FTSE Bursa Malaysia KLCI||1646.90||5.33||0.32|
|New Zealand: NZX 50*||3995.26||-30.92||-0.77|
|S. Korea: KOSPI||1973.40||8.78||0.45|
|S. Korea: KOSPI 50||1719.51||6.96||0.41|
|S. Korea: KOSPI 100||1983.58||9.51||0.48|
|S. Korea: KOSPI 200 Composite||261.41||1.29||0.50|
|Singapore: FTSE Straits Times||3137.89||19.56||0.63|
|US Cotton No.2||74.83||+0.06||+0.07%|
|US Coffee C||149.03||+2.25||+1.53%|
Japan 10yr 0.71-0.00, 0.53
U.S. 10yr 1.65-0.01, 0.55%
An Iron fist is holding down Italian CDS spreads
-DD: Guides FY12 “in the high range of $3.25-3.30 v $3.30e”; Approves $1B share buyback program (approx 2.5% of market cap); +2.4% afterhours
- WMB: Agrees to Invest up to $2.4B in Access Midstream Partners GP and LP; Affirms Guidance for 20% Annual Dividend Growth; -3.5% afterhours
- CMI: Announces New $1B Stock Repurchase Program (5% of market cap); +0.7% afterhours
- Ban Ki-moon “deplores” North Korea missile launch
Ban, Psy, Little Kim, the Koreans have been in the news a lot and all scum. From Goldman Sachs 666 signaling Ban to 666 Signaling ‘kill the americans’ Psy to Crazy 666 signaling Kim. Those Koreans love Mr. 666 is all I will say.
-Zionist UC President Yudof Takes Bible out of UC Symbol
Fire the Zionists and Anglomason and Communist and One worlders if you want any Alumni money and bring back the original seal/symbol.
-Rice purchases by China, the largest producer, may soar fourfold this year after a government policy to support farm incomes drove up domestic prices, the United Nations said.Shipments may reach 2.3 million metric tons to 2.4 million tons, said Concepcion Calpe, a senior economist at the UN’s Food & Agriculture Organization. That compares a prediction of 2 million tons last month and 600,000 tons in 2011, according to the FAO. While there’s no shortage in China, processors increased imports to profit from the difference between domestic and overseas rates, said Bai Peipei, an analyst at Beijing Shennong Kexin Agribusiness Consulting Co.Rising imports by China may bolster prices even as world inventories tracked by the FAO swell to a record, boosted by the biggest global crop ever. While rice, the staple for half the world, has risen 4 percent in Chicago this year, it is 17 percent below a three-year high in September 2011. Most purchases by China, which typically imports from Thailand, were of Vietnamese origin this year.“The year 2012 marks a radical departure from China’s normal pattern of purchases,” Calpe wrote in an e-mail to Hiroyuki Konuma, the FAO assistant secretary general and regional representative for Asia and Pacific. “Nobody knows the actual volume of rice held in stocks by China,” according to the e-mail, which was forwarded to Bloomberg yesterday.
-As its last program of Treasury purchases, known as Operation Twist, draws to a close, (FED) officials look set to replace it with a fresh $45 billion per month in buying. Unlike those in Twist, which were funded by sales and redemptions of short-term debt, the new Treasury purchases will further expand the Fed’s $2.8 trillion balance sheet.Economists also expect the central bank to continue buying $40 billion per month in mortgage-backed securities as announced in September, keeping the monthly pace of total asset purchases at $85 billion — a figure the Fed highlighted in its last policy statement.
This is the party line for tomorrow. I expect the FED to disappoint markets. And to position accordingly ahead of the FED. I can cover quickly if the FED follows through. Either way look for gold to be attacked by the Cartel tomorrow.
-Michigan enacted a ban on mandatory union membership on Tuesday, dealing a stunning blow to organized labor in the state that is home to U.S. automakers and the symbol of industrial labor in the United States.As more than 12,000 unionized workers and supporters protested at the Capitol in Lansing, the Republican-led state House of Representatives gave final approval to a pair of “right-to-work” bills covering public- and private-sector unions.Republican Governor Rick Snyder signed the bills into law as soon as they reached his desk, completing in a few days a campaign to make Michigan the 24th U.S. state to prohibit unions from requiring employees to join and contribute dues.
-FED Head Evans Hoping for a School Teacher Job for his Daughter..
Where do you think the economy is headed in 2013?
We’re expecting that GDP [gross domestic product] growth nationally will be on the order of 2.5 to 3 percent. That assumes that nothing bad happens in Washington regarding the fiscal cliff or in Europe in terms of how they negotiate their financial difficulties. The year after, we’re expecting that growth will pick up to about 3.5 to 4 percent. As for unemployment, by the end of 2013, we expect it to be about 7.5 to 7.75 percent.
What about the Chicago economy, specifically?
If the national economy improves, Chicago will improve. We have a large business service sector that services companies across the country, and a large transportation sector including O’Hare and rail and freight. The fundamentals are really quite good.
Yet unemployment here is still higher than the national average [see chart below]. You have children, ages 20 and 25. What do you tell them about their job prospects?
Work hard! Study hard! [Laughs.] My daughter studied to be a teacher. She graduated two years ago from Keene State College in New Hampshire and didn’t find a job out there, so she moved home. We were very happy that, after about nine months, she moved from unemployment to underemployment. She’s not a teacher, but she’s an aide at an elementary school….
-If someone you know was damaged by drugs, consider consulting a lawyer and suing HSBC. Thank you.
-The USA Pentagon was apparently ordered by the Obama administration to not shoot down the North Korean ICBM, despite having 3 separate system which would virtually assure a missile kill. Without a few ‘mad men’ and ‘fear’ the USA military budget wane. This is akin to the USA military standing down on 911 for promotions. Don’t be fooled.
-Global Calendar. A big day today dominated by the FED and Euro Zone Industrial Production.
|Wednesday, December 12|
|All Day||Holiday||Mexico – Virgin of Guadalupe|
|00:30||INR||Indian Industrial Production (YoY)||4.5%||-0.4%|
|00:30||INR||Indian Manufacturing Output (MoM)||-1.50%|
|02:00||EUR||German CPI (MoM)||-0.1%||-0.1%|
|02:00||EUR||German CPI (YoY)||1.9%||1.9%|
|02:45||EUR||French CPI (MoM)||0.0%||0.1%|
|02:45||EUR||French Current Account||-3.30B|
|03:00||ZAR||South African CPI (MoM)||0.20%||0.60%|
|04:30||INR||Indian M3 Money Supply||13.20%|
|04:30||GBP||Average Earnings Index +Bonus||1.9%||1.8%|
|04:30||GBP||Claimant Count Change||7.0K||10.1K|
|05:00||EUR||Industrial Production (MoM)||0.2%||-2.5%|
|05:10||EUR||Italian 12-Month BOT Auction||1.762%|
|05:10||EUR||Italian 3-Month BOT Auction||0.765%|
|07:00||USD||MBA Mortgage Applications (WoW)||4.5%|
|08:30||USD||Import Price Index (MoM)||-0.5%||0.5%|
|09:00||MXN||Mexican Industrial Production (YoY)||3.6%||2.4%|
|09:30||BRL||Brazilian Foreign Exchange Flows||4.88B|
|10:30||USD||Crude Oil Inventories||-2.343M||-2.357M|
|12:30||USD||Interest Rate Decision||0.25%||0.25%|
|13:00||USD||10-Year Note Auction||1.675%|
|14:00||USD||Federal Budget Balance||-150.0B||-120.0B|
|14:15||USD||Fed Chairman Bernanke Speaks|
|16:30||NZD||Business NZ PMI||50.5|
|18:30||AUD||Westpac Consumer Sentiment||5.20%|
|19:00||AUD||MI Inflation Expectations||2.2%|
|19:30||AUD||New Motor Vehicle Sales (MoM)||-2.8%|
|20:00||KRW||South Korean Interest Rate Decision||2.75%||2.75%|
|21:45||JPY||5-Year JGB Auction||0.189%|
-Welcome back for our romp through the global capital markets.
34 Then said Mary unto the angel, How shall this be, seeing I know not a man?
35 And the angel answered and said unto her, The Holy Ghost shall come upon thee, and the power of the Highest shall overshadow thee: therefore also that holy thing which shall be born of thee shall be called the Son of God.
36 And, behold, thy cousin Elisabeth, she hath also conceived a son in her old age: and this is the sixth month with her, who was called barren.
37 For with God nothing shall be impossible.
38 And Mary said, Behold the handmaid of the Lord; be it unto me according to thy word. And the angel departed from her.
39 And Mary arose in those days, and went into the hill country with haste, into a city of Juda;
40 And entered into the house of Zacharias, and saluted Elisabeth.
41 And it came to pass, that, when Elisabeth heard the salutation of Mary, the babe leaped in her womb; and Elisabeth was filled with the Holy Ghost:
42 And she spake out with a loud voice, and said, Blessed art thou among women, and blessed is the fruit of thy womb
-India Output Rebounds as Higher Prices Curb Rate-Cut Case
-Greece Meets Goal in Debt Buyback Sought to Unlock Aid
-With Germany onside, EU nears banking union deal
-Google Chairman Says Android Winning Mobile War With Apple
-Most European Stocks Advance Before Fed Policy
-Spanish Repossessed Property Prices Tumble 65% in Credit Crunch
Down comes the new German Reich in bankruptcy…
-Rhetoric, blame game intensify on Capitol Hill as ‘fiscal cliff’ deadline approaches
-’Obamacare,’ fiscal cliff leads to small business optimism plunge
-Euro zone factory output falls again, recovery far off
-Gold CEOs Told to Fix Slump as Investors Prove Restless
-India Must Tap Household, Temple Gold to Reduce Imports
-Bernanke Critics Can’t Fight Bonds Showing No Inflation
Bond market is manipulated by FED and UST dealer/Cabal. Spreads are artificial.
-Unilever CEO Polman Says Europe Faces 10-Year Economic Slump
-OPEC Uniting to Keep Quota as Oil Heads for Best Year
-Uncertainty in Greece as buyback programme misses target
-David Cameron urged to ‘go into battle’ to save City
-Abe Anxious to Carry Water Bucket for USA in Nuclear North Korea age..
-No room for over optimism on Economy- China
-Mark Carney, Carnival Inflation barker of the Rothschilds Emerges from Dark Shadows..with his fist of worthless fiat..
Mark Carney, the next governor of the Bank of England, has suggested he will act much more aggressively to revive the UK economy when he takes charge next summer, including dumping the BoE’s much-vaunted inflation target if growth fails to pick up.
In a clear break with the views of the BoE’s current senior management, Mr Carney, now governor of the Bank of Canada, said on Tuesday that central banks should consider more radical measures – such as commitments to keep rates on hold for an extended period of time and numerical targets for unemployment – when rates are near zero.
If those measures fail to have the desired effect, Mr Carney said central banks should consider scrapping their inflation targets – a cornerstone of economic policy around the world in recent decades, including in the UK.
“If yet further stimulus were required, the policy framework itself would likely have to be changed,” Mr Carney said in Toronto in his first speech since being named successor to Sir Mervyn King last month. He cautioned that the benefits of any regime change “would have to be weighed carefully against the effectiveness of other unconventional monetary policy measures under the proven, flexible inflation targeting regime”…
-Berlin Refuses to Relent as Summit Approaches-Banking Union
-Berlusconi warned not to target Germany
-Secret Talks Behind Central Banksters Moves-WSJ
I don’t think the link is they all went to MIT is the key, but that they are all Jews!!
-IPOs more secretive under new USA law
-Berlusconi move could undermine Monti agenda in Italy
-JPMorgan Pressed by SEC on Prop Trading Before Whale Loss
-Ancient Chinese Cures Seen Helping Drug Maker Pipelines
Patented, counterfeit products designed to eventually outlaw the original herbs. Monopoly medicine played with the Fed’s Monopoly FDA.
-Google says No Mas to Competing with Alibaba
-Fed set to expand its monetary stimulus
-U.S. military’s secret mini-shuttle lifts off from Florida
-Meyer Touted as Wunderkind for New Mail Version @Yahoo.com
I don’t understand this at all. This is the least of her problems. She should be moving into Media as fast as possible and accelerating Yahoo on Mobile and more real time content. Hire a dumb blonde from Stanford and you get a dumb blonde from Stanford. Still compared to the prior cast of Anglo-Zionist stooges she looks brilliant. I will know if it any good after trying it. SW is not Yahoo’s ‘forte’ say like Sun turned out rock solid and brilliant software as well as HW. Yahoo is a bit like aol, you’re not sure what they good at, at all. It’s a lousy product that could be made infinitely better. A dumb blonde is a dumb blonde no matter what the press says. A mini-me of Meg Whitman. But no Fiorina (Carly Sneed) at least.
-Goldman Says Due Diligence ‘Not Our Job’ in Dragon Sale
-Mazda Leads Diesel Comeback as Dirty-Clunker Stigma Fades
-Hong Kong at Risk of Property Price Correction, IMF Says
-The ten worst ways your children are being poisoned right now
-Walmart CEO, Duke, says Fiscal Cliff hurting his Corporate Welfare Check
-FED Head Charles Evans- What to expect in 2013
-HSBC’s Mexican branches said to be favorites of drug traffickers
-North Korea defies warnings, launches long-range rocket