ZGR 1/9/2013

HEADLINERS

-Morgan Stanley  to Cut 1600 Jobs

-Jack Jew..er Lew to be named UST secretary per White House Sources (Axelrod)  BBN( ending John Corzine’s dreams). Orthodox Jew, Talmudist.

-London Boasts of Big German Weather Score in Markets (UK manipulating German weather?)

-BOJ May Ease Again

-Germans wages set for biggest rise in one decade

-Ernst and Young, Europe in Lost Decade

-Anglo-Zionist Press Continues Attacks against B787 Despite two possible sabotage acts. 3 rd problem reported with brakes overnight.

-Germany ‘sick man’ , getting the Spanish Flu!!??

COMMENTARY

-Europe Close

 

Bonds

German 10y 1.47-0.02, 1.55%
Italy 10y 4.23-0.02, 0.37%
Spain 10y 5.11+0.04, 0.83%
U.K. 10y 2.02-0.01, 0.36%

 

-MARKETS – AT A GLANCE

12:15 p.m. EST 01/09/13Major Stock Indexes Last Change % Chg DJIA 13403.71 74.86 0.56 Nasdaq 3107.38 15.57 0.50 S&P 500 1462.54 5.39 0.37 DJ Total Stock Market 15247.41 62.69 0.41 Russell 2000 879.00 4.30 0.49 Global Dow 2049.35 9.91 0.49 Japan: Nikkei Average* 10578.57 70.51 0.67 Stoxx Europe 600 288.22 1.97 0.69 UK: FTSE 100* 6098.65 45.02 0.74     12:15 p.m. EST 01/09/13Treasurys Price Chg Yield % 2-Year Note -0/32 0.260 10-Year Note 2/32 1.864 * at close 12:05 p.m. EST 01/09/13Futures Last Change Settle Crude Oil 92.95 -0.20 93.15 Gold 1655.4 -6.8 1662.2 E-mini Dow 13347 80 13267 E-mini S&P 500 1457.25 5.00 1452.25 12:15 p.m. EST 01/09/13Currencies Last (mid) Prior Day † Japanese Yen (USD/JPY) 87.96 87.04 Euro (EUR/USD) 1.3071 1.3081 † Late New York trading.

 

- Apple likely to price cheaper iPhone model in $149-$199 range: analysts

I was a dip buyer of APPL to get back in the swing of things, and short seller of more of the DAX into the EU close. Blodgett was taking the hatchet to APPL stock this morning. The same guy that pumped Worldcom as it went bankrupt and who was banned for life as a financial analyst. I’m surprised still his Anglosaxon evil twin Mary Meeker is back in fashion.

-Chancellor Merkel is unable to rely on her own majority, that is a bad news for Cyprus and for the euro –  Der Spiegel

-Ireland Enda Kenny :  ”disastrous” for UK to leave EU. No treaty change likely; rejects idea of “treaty for individual country”. Von Rompuy/Kenny Press Conference

-Officials says 30 to 50 people hurt in NYC ferry crash, including 1 critical with head injuries. http://wsj.com

There are no people as lawsuit happy as NY and as greedy so as it was a private ferry they likely will be fired. If you know a lot about computer control of ships, you know they don’t even need pilots these days the ships controllers are so sophisticated. Even Alex Jones noticed this on his trip to the big Crapple, aka Zion West how greedy everyone was and how expensive it was. Private Ferry firm. This Bay Area pilot who ran an empty oil tanker into the golden gate bridge had 3 prior accidents. In the oil industry if you were a tug operator, you were put on probation for sure and likely fired after your first accident, and for sure fired on your 2nd accident. You cant afford drunks and incompetent on tugs. I fired plenty of people after their first accident investigation. I never let anyone get away with more than 2 accidents without firing them.

-China remained the world’s largest energy producer for a fifth year in 2012, China’s energy authority said Wednesday. Xinhua News Agency

And world’s largest ‘real’ economy. USA GDP is a lot of ‘derivative’ noise, like UK economy.

-As long as we are talking about Sabotage, I’ve never seen a fail on an arctic tug like we just saw. We are talking at least 25 billion barrels of oil. The Oil cartel like the Gold cartel is based out of London. England and its evil bride Israel are at work to destroy the US economy(USE) as well as the people who won’t submit to the antichrist Windsor-Rothschilds family.

Shell mishaps prompt U.S. review of arctic oil drilling

|http://bloom.bg/WN3zET

-Herbalife is up 56% in the last 10 sessions – CNBC

Zionist short seller attack backfires on them.

-Herman Van Rompuy : Irish presidency motto “Stability, Jobs & Growth” precisely captures what we are all working for.

-Japanese Rally to Boeing after 3rd failure is as many days.

It took a long time for the wires to put out a story, after intercepting some communication from AFPs’ man in Japan last night. A Coincidences can be random, sequential temporal , uncorrelated coincidences are seldom ‘random’. Let us not forget it was an IsraelI firm in charge of computer security at Fukushima and Israeli firms in charge of security at Boston Logan on 911 who greased the patsies through who supposedly took down the WTC. If we analyze the put activity on the stock, I will bet we will find out this was not anymore random than the put activity on AA before 911.

http://www.nbcnews.com/business/boeing-787-suffers-third-mishap-many-days-1B7906402

 

-PIMCO ‏@PIMCO

Gross: Corporate bond spreads so thin that they must be using a corset – or the Fed. Don’t buy them.

-Wal-Mart reverses position — will participate in White House meeting on guns tomorrow, @bloombergnews

-Morgan Stanley will slash 1,600 jobs in one of its most profitable businesses in the latest example of a Wall Street investment bank axing bankers to reduce expenses. FT

-AIG refuses to back off from suing USA Taxpayers after mounting criticism.

CEO Citizen of Israel and USA and lives abroad most of the time in Europe

 

-President Barack Obama plans to name White House Chief of Staff Jack Lew tomorrow as his choice for Treasury secretary, replacing Timothy F. Geithner, a person familiar with the process said. Reported by BBN

-USA Stocks on the Move

USA stocks moved up at the opening on now Economic data releases and on the backs of Alcoa and MA activity and speculation. Crude-oil futures tacked on 0.4% to around $93.60 a barrel, while gold futures slipped to around $1,660 an ounce. The dollar rose against both the euro and the yen. Treasurys rose, pushing the yield on the benchmark 10-year note down to 1.86%.

, Clearwire CLWR +7.71% surged after the wireless broadband company received an unsolicited buyout bid from Dish NetworkDISH +2.42% that would value the company at about $4.85 billion, topping an earlier offer from Sprint Nextel S -1.01% .

Apollo Group APOL -10.41% led the S&P 500 decliners after the for-profit educationcompany reported quarterly profits and revenue that topped analyst estimates, but provided a full-year revenue outlook that was below current forecasts.

Apple AAPL -0.49% lost ground after The Wall Street Journal reported the technology giant was working on a less-expensive version of the iPhone amid increased competition.

Crosstex Energy XTXI +1.66% slid after the natural-gas company said it was offering 7.5 million common units for sale to the public.

Seagate Technology STX +4.41% advanced after the hard-disk-drive company raised its outlook for fiscal second-quarter revenue.

Global Payments climbed after the credit-card processor posted stronger revenue in its North American and international markets, outpacing higher operating costs.

WD-40 zipped higher after the maintenance and cleaning-products company saw stronger sales in both the Americas and Europe, to top earnings expectations

WSJ/BBN/Reuters

-There are no plans for French car maker PSA Peugeot Citroen to merge with General Motors’ GM  European Opel brand or to reduce its controlling stake in French automotive supplier Faurecia SA , a senior executive of the car maker said Wednesday.According to spokesman Frederic Saint-Geours, who heads the Peugeot and Citroen brands, a merger with Opel “isn’t on the agenda.” MW

- Bank of America Corp. BAC -1.04% was downgraded on Wednesday to neutral from outperform byCredit Suisse, which cited the stock’s valuation as a reason for the move. “Current valuation appears to be ahead of the company’s near to intermediate-term performance and appears to be discounting significantly faster improvements in efficiency than we would be expecting,” Credit Suisse analysts wrote in a note to clients.

-1049

U.S. STOCKS | See all U.S. Stocks Data 10:49 a.m. EST 01/09/13Major Indexes Last Change % Chg DJIA 13396.67 67.82 0.51 DJ Transportation Average 5540.55 48.26 0.88 DJ Utility Average 456.95 -1.51 -0.33 DJ Total Stock Market 15237.41 52.69 0.35 Nasdaq 3105.27 13.46 0.44 Nasdaq 100 2729.46 10.74 0.40 S&P 500 1461.91 4.76 0.33 S&P 100 663.77 2.63 0.40 S&P 400 Mid-Cap 1055.29 4.88 0.46 S&P 600 Small-Cap 491.33 2.35 0.48 NYSE Composite 8635.52 31.14 0.36 Russell 2000 879.17 4.47 0.51 NYSE MKT Composite 2396.80 -2.55 -0.11 KBW Bank 53.38 0.12 0.23 PHLX Gold/Silver 159.20 -1.35 -0.84 PHLX Housing Sector 182.70 2.57 1.43 PHLX Oil Service 228.51 -0.33 -0.14 PHLX Semiconductor 395.21 3.85 0.98 CBOE Volatility 13.44 -0.18 -1.32 10:49 a.m. EST 01/09/13Markets Diary Issues NYSE Nasdaq NYSE MKT Advancing 1,953 1,497 205 Declining 958 800 142 Unchanged 115 101 34 Total 3,026 2,398 381 Issues at New 52 Week High 206 99 9 New 52 Week Low 3 2 1 Share Volume Total 975,945,502 529,086,888 20,622,621 Advancing 508,920,263 381,017,318 13,006,684 Declining 453,270,625 142,698,166 6,026,748 Unchanged 13,754,614 5,371,404 1,589,189   Stock Indexes(Click through for full charting) 10:32 am EST 01/09/13Most Active Stocks (Roll over for charts and headlines) NYSE | Nasdaq | Arca | Composite Issue Volume Price Chg % Chg BankAm (BAC) 52,874,792 11.96 -0.02 -0.13 SprintNextel (S) 28,868,336 5.87 -0.10 -1.68 Nokia (NOK) 21,514,071 3.96 -0.09 -2.22 Alcoa (AA) 16,571,322 9.13 0.03 0.27 ArcelorMitl (MT) 14,459,163 17.16 -0.37 -2.11 10:47 am EST 01/09/13Gainers (Roll over for charts and headlines) NYSE | Nasdaq | Arca | Composite Issue Price Chg % Chg Volume SemiMfgInt ADS (SMI) 3.04 0.33 12.18 107,437 DaqoNewEnergyADS (DQ) 9.19 0.99 12.07 53,255 IFM Inv ADS (CTC) 2.40 0.20 8.91 11,580 TelItalia ADS (TI) 9.75 0.65 7.14 63,268 TelItalia ADS A (TIA) 8.43 0.54 6.84 15,598 10:47 am EST 01/09/13Decliners (Roll over for charts and headlines) NYSE | Nasdaq | Arca | Composite Issue Price Chg % Chg Volume MistrasGp (MG) 21.04 -2.68 -11.30 302,003 DeVry (DV) 23.53 -1.71 -6.77 805,108 DouglasDyn (PLOW) 13.19 -0.95 -6.75 41,794 CGG ADS (CGV) 28.17 -1.84 -6.13 9,406 US PhysTh (USPH) 26.16 -1.54 -5.56 67,150 Industry Groups 1/9/2013 10:47:36 AM Leading Groups DJ US Consumer Electronic 2.64% DJ US Electronic Equipmen 1.84% DJ US Tires Index 1.74% DJ US Aerospace Index 1.69% DJ US Gambling Index 1.55% Lagging Groups DJ US Coal Index -1.96% DJ US Transportation Serv -1.47% DJ US Gold Mining Index -1.42% Dow Jones U.S. Renewable -1.18% Dow Jones U.S. Alternativ -1.18%

INTERNATIONAL MARKETS | See all International Data 10:48 a.m. EST 01/09/13Major World Indexes Last Change % Chg Global Dow 2047.72 8.28 0.41 DJ Global Total Stock Market 2726.08 10.48 0.39 DJ Global exUS TSM 2152.20 8.16 0.38 Asia Dow 2953.09 9.16 0.31 DJ Asia-Pacific TSM 1336.26 4.46 0.33  Japan: Nikkei Average* 10578.57 70.51 0.67  Hong Kong: Hang Seng* 23218.47 107.28 0.46 Europe Dow 1702.25 9.40 0.56 Stoxx Europe 600 288.39 2.14 0.75  Germany: DAX 7729.71 33.88 0.44  UK: FTSE 100 6105.69 52.06 0.86 DJ Americas TSM 3809.70 13.94 0.37  Brazil: Bovespa 61694.64 566.80 0.93  Canada: S&P/TSX 12511.23 6.42 0.05

-MARKETS – AT A GLANCE

10:47 a.m. EST 01/09/13Major Stock Indexes Last Change % Chg DJIA 13399.52 70.67 0.53 Nasdaq 3106.80 14.99 0.48 S&P 500 1462.45 5.30 0.36 DJ Total Stock Market 15245.45 60.73 0.40 Russell 2000 879.30 4.60 0.53 Global Dow 2048.52 9.08 0.45 Japan: Nikkei Average* 10578.57 70.51 0.67 Stoxx Europe 600 288.37 2.12 0.74 UK: FTSE 100 6106.19 52.56 0.87   10:46 a.m. EST 01/09/13Treasurys Price Chg Yield % 2-Year Note -0/32 0.260 10-Year Note 1/32 1.867 * at close 10:37 a.m. EST 01/09/13Futures Last Change Settle Crude Oil 93.11 -0.04 93.15 Gold 1656.6 -5.6 1662.2 E-mini Dow 13341 74 13267 E-mini S&P 500 1457.75 5.50 1452.25 10:47 a.m. EST 01/09/13Currencies Last (mid) Prior Day † Japanese Yen (USD/JPY) 87.78 87.04 Euro (EUR/USD) 1.3044 1.3081 † Late New York trading.

 

-EU’s Rehn: reiterates view that risk of EMU breakup has been averted but officials must not become complacent.

- Finland Fin Min Urpilainen: Country to be active in European crisis management; to maintain its strict stance and defend taxpayer interests.

- France Fin Min Moscovci: Approx 30% of China’s FX Reserves are in Euro (implies over €1.0T). He added that China was shifting its economy to increase domestic consumption.

- Norway Trade Min Giske: NOK currency at historic strong level and strength was worrisome; increases the necessity of keeping a prudent fiscal policy

- Fitch  commented on Ireland: Progress continued to be made and its recent debt sale added to momentum but market confidence remained fragile. He saw sizeable risks remaining for Ireland with no expectations of bank agreement to reduce debt soon. It remained uncertain whether the country would exit the bailout on time.

- Poland PM aide Bielecki commented that Polish interest rate cuts would not stop in coming weeks and it was hard to see Polish CPI pressures in 2013.

- German BGA Federation stated that 2013 Real Wholesales Sales could rise by 0.5% and saw Germany’s GDP growth below 1%. It stressed that Germany needed to improve competiveness.

- Germany’s DIW Institute forecasted Germany 2013 GDP at 0.9% and 2014 GDP growth at over 2.0%

- Brazil Treasury head Augustin: Brazil debt burden will keep falling even if primary budget surplus goal is not achieved in full

- UAE Oil Min expressed confidence that energy markets would remain stable. He noted that his country to be a net importer of gas within a few years. UAE to reach 3M bpd capacity during 2013 (Note: In late 2011, capacity was estimated at 2.7M bpd). Current production capacity is 2.8M bpd; produced 2.6M bpd in Dec

- Japan Econ Min Amari noted that its Fin Min Aso noted that monetary policy alone was not enough to revive Japanese economy. PM Abe asked BOJ to adopt 2% inflation target and that reviving economy was top priority. Abe called for fiscal reform plan compatible with economic revitalization
- IEA Head commented that Oil price may act as brake on world economy and saw a major reorientation of oil flows towards Asia. He added that US energy revolution would have a global impact. EU, China, India to be over 80% oil import dependent by 2035. Global shift was underpinned by huge energy investments

- World Economic Forum (WEF) believes that the euro zone will continue to present risks for the global economy in 2013 – London Telegraph

- Senior France Official: Rumors of a sovereign downgrade of France are false . French Press

- Bank of Spain to reform supervisory model. Will include semi-annual reviews of institutions under surveillance. Cinco Dias

-  As a percentage of GDP, the SNB’s asset purchases are larger than those of the Fed – US financial press; Notes the SNB’s currency purchases make it vulnerable to changes in exchange rates, but the central bank is not allowed to hedge fx risk; Suggests if the euro declined by 10% it could have a significant impact on the central bank’s capital level. WSJ

-BOJ said to be evaluating conducting additional monetary policy easing in January through asset purchases – financial press; May set 2% inflation target and double the price goals.

-EU Session, Economic Release Summary

(FI) Finland Oct GDP Indicator: -0.7% v -1.6% prior
(TH) Thailand Central Bank Interest left its Benchmark Interest Rate unchanged at 2.75%
(HU) Hungary Nov Preliminary Trade Balance: €703.8M v €782.5Me
(CZ) Czech Dec CPI M/M: 0.1% v 0.1%e; Y/Y: 2.4% v 2.4%e
(DK) Denmark Nov Trade Balance ex-Shipping (DKK): 7.6B v 6.5Be; Current Account: 9.6B v 10.0Be
(CZ) Czech Dec Unemployment Rate: 9.4% v 9.4%e; Share of Unemployed between ages 15-64: 7.4% v 6.8% prior
(RO) Romania Q3 Final GDP Q/Q: -0.4% v -0.5% prelim; Y/Y: -0.5% v -0.6% prelim
(EU) ECB: €121M borrowed in overnight loan facility vs. €105M prior; €243.5B parked in deposit facility vs. €244.5B prior

(DE) German Industrial production Nov: .2 %V 1 %e; y/y -2.9% v-2.9 e; Oct revised lower to -3% y/y

(SE) Sweden Dec Budget Balance (SEK): -79.3BB v 8.2B prior
(NO) Norway Nov Retail Sales Volume M/M: 0.3% v 0.9%e; Y/Y: 2.4% v 3.8% prior
(IT) Italy Q3 YTD Deficit to GDP Ratio: 3.7% v 4.7% prior
(ZA) South Africa Dec Vehicle Sales: 1.8% v 7.3% prior
(UK) Nov Visible Trade Balance: -£9.2B v -£9.0Be; Total Trade Balance: -£3.5B v -£3.0Be; Trade Balance Non EU: -£4.5B v -£4.2Be
(ZA) South Africa Dec SACCI Business Confidence: 93.0 v 91.7 prior
(GR) Greece Nov Industrial Production: -2.7% v +3.5% prior

-MARKETS – AT A GLANCE

10:29 a.m. EST 01/09/13Major Stock Indexes Last Change % Chg DJIA 13408.73 79.88 0.60 Nasdaq 3110.96 19.15 0.62 S&P 500 1464.37 7.22 0.50 DJ Total Stock Market 15263.12 78.40 0.52 Russell 2000 879.11 4.41 0.50 Global Dow 2050.95 11.51 0.56 Japan: Nikkei Average* 10578.57 70.51 0.67 Stoxx Europe 600 288.15 1.90 0.66 UK: FTSE 100 6106.45 52.82 0.87   10:28 a.m. EST 01/09/13Treasurys Price Chg Yield % 2-Year Note 0/32 0.252 10-Year Note -0/32 1.871 * at close 10:19 a.m. EST 01/09/13Futures Last Change Settle Crude Oil 93.45 0.30 93.15 Gold 1656.6 -5.6 1662.2 E-mini Dow 13349 82 13267 E-mini S&P 500 1459.00 6.75 1452.25 10:29 a.m. EST 01/09/13Currencies Last (mid) Prior Day † Japanese Yen (USD/JPY) 87.80 87.04 Euro (EUR/USD) 1.3054 1.3081

-MARKETS – AT A GLANCE

4:13 a.m. EST 01/09/13Major Stock Indexes Last Change % Chg DJIA* 13328.85 -55.44 -0.41 Nasdaq* 3091.81 -7.01 -0.23 S&P 500* 1457.15 -4.74 -0.32 DJ Total Stock Market* 15184.72 -44.67 -0.29 Russell 2000* 874.70 -1.10 -0.13 Global Dow 2044.49 5.05 0.25 Japan: Nikkei Average* 10578.57 70.51 0.67 Stoxx Europe 600 287.44 1.19 0.42 UK: FTSE 100 6079.54 25.91 0.43   4:13 a.m. EST 01/09/13Treasurys Price Chg Yield % 2-Year Note -1/32 0.264 10-Year Note -5/32 1.889 * at close 4:03 a.m. EST 01/09/13Futures Last Change Settle Crude Oil 93.26 0.11 93.15 Gold 1665.5 3.3 1662.2 E-mini Dow 13289 22 13267 E-mini S&P 500 1454.25 2.00 1452.25 4:13 a.m. EST 01/09/13Currencies Last (mid) Prior Day † Japanese Yen (USD/JPY) 87.62 87.04 Euro (EUR/USD) 1.3086 1.3081 † Late New York trading.

-China said to probably nix Ping An sale by HSBC to Thai Billionaire over financing.

-ANOTHER Dreamliner problem: ANA cancels flight in Japan after brake issue, airport. AFP.. Breaking.

-In  the ‘it’s a crazy life’ headlines.

Mass Hysteria Grips Females as they ‘cut’ /maim themselves to get Zionist/Illuminati Dirtbag Justin Bieber to stop smoking pot. Alex Jones/Peirs Morgan MSM interview on Yahoo gets 30k comments in an hour. Evil/Demented Zionist Gabby Gifford launches Gun confiscation program (Congress woman shot by coreligionist/mossad black operation). Nutter/Druggie Lance Armstrong to tell all to Fat Woman Oprah. Kate Middletrash celebrates 31 st birth day. Lazy European finally arrive at their desks and want a raise.

-English Crown War Pimp Alert- Fears raised over Syria uranium stockpile . Iran might try to use material from Assad regime, say experts. Financial Times

-Italian Deficit to GDP (YTD) (Q3) 3.7% (Prev. 5.0%, Rev. to 4.7%)

-US oil imports to fall to lowest in 25 years

Nation will use less oil as production booms

FT

-J.P. Morgan Overhaul Widens

Two more members of the management team that steered J.P. Morgan Chase & Co. through the credit crisis have taken new jobs, as the largest U.S. bank assembles a younger set of top leaders. WSJ

-Dish Makes Offer for Clearwire

Clearwire received an unsolicited bid from Dish Network to buy the wireless broadband operator, in a broadside against Sprint Nextel’s agreed-upon buyout offer.Stock in Clearwire CLWR   was pushed 7.9% higher to $3.15 after coming off a trading halt. Dish Network Corp. DISH -1.02%  offered to buy Clearwire for $5.15 billion. The unsolicited offer tops Sprint Nextel Corp.’s   bid valued at $2.2 billion to buy the half of Clearwire it doesn’t already own. MW

-320 Europe

European stocks advanced as Alcoa Inc. began the U.S. earnings season by posting sales that beat estimates and investors awaited German industrial-output data. USA futures and Asian markets that were still open also climbed into the European open. Shire Plc (SHP) gained 1.6 percent as it confirmed its guidance for full-year earnings growth.Bayer AG (BAYN) rose after the chief of its health-care unit said the company won’t sell its diabetes business. Sainsbury reported a slight uptick in Holiday sales, y/y. PSA Peugeot Citroen slid 1.5 percent to 6.12 euros after Europe’s second-largest car maker said sales dropped 17 percent in 2012, accelerating from a 15 percent decline in the first nine months of the year. The ECB is meeting tomorrow for a policy decision, and markets are waiting on  German M/M industrial production at 600 EST today.  Analysts expect German output increased 1 percent last month from a drop of 2.6 percent a month earlier. Nothing significant is on the USA economic calendar until tomorrow. The USA markets are focused on CES, the Debt Ceiling, and Earnings.

-0310 Asia

-Chávez will miss inauguration, say officials. Press

I wonder if they will have a glass coffin for him like Lenin!!

-Poll: Americans have a higher opinion of colonoscopies, cockroaches and root canals than they do of Congress. http://on.wsj.com/UHbFAv

Fixed and corrupt election, the British-Israel lawyer mafia won’t go!!

-Sainsbury’s has reported a small rise in sales over the key Christmas and New Year period, saying its customer numbers hit a new all-time high. The supermarket group’s like-for-like sales excluding fuel increased by 0.9% in the 14 weeks to 5 January, compared with a year earlier.

-300 Europa Opens

German DAX 30 index up 0.2% to 7,713.40

French CAC 40 index up 0.4% to 3,720.4

FTSE 100 index up 0.3% to 6,071

Stoxx Europe 600 index up 0.3% to 286.97

Bonds

German 10y 1.48-0.01, 0.88%
Italy 10y 4.22-0.03, 0.61%
Spain 10y 5.07+0.00, – 0.05%

Commodity/Currency

EUR/USD

1.3072

-0.0009

-0.07%

	Gold	1661.35	-0.85	-0.05%
	Silver	30.418	-0.047	-0.15%
	Copper	3.673	+0.001	+0.02%
	WTI	93.00	-0.15	-0.16%

-Cameron’s Govt and Economy falling apart in UK

Lord Marland resigns as Tory business minister. Lord Marland of Odstock is the second minister to resign from the Coalition Government in the space of a few days. DT

-Geopolitical Headliners

News-www.antiwar.com Updated January 9, 2013 – 12:44 AM EST Obama Mulling a Complete Afghan Withdrawal? UK Soldier Killed, Six Wounded in Afghan ‘Green-on-Blue’ Attack US Ex-Officials Criticize Obama’s Drone War In 4 Drone Strikes in A Single Day, US Kills Up to 25 Yemen Says US Drone Strikes to Continue Al-Nusra Emerges as Major Force in Syria Revolt Syria’s Nusra Front Releases Video of Executions of Three Soldiers Hagel, Brennan Mean More of Same Obama Foreign Policy Is Hagel a ‘Message’ to Netanyahu Not to Attack Iran? Pro-Israel Hawk Gets Top Spot on House Foreign Affairs Mideast Panel The Outrage of Manning’s ‘Aiding the Enemy’ Charges Foreign Policy Taking Back Seat in Israeli Election Tunisia Frees Benghazi Suspect, Citing Lack of Evidence India Threatens Revenge Attacks on Pakistan Over Kashmir Defense Contractor Paid $5m to Iraqis Over Abu Ghraib Viewpoints Spanish Lessons  by James P. Pinkerton The Lobby’s Opposition to Chuck Hagel Is Bad for All Jews by MJ Rosenberg The Corrosive Effects of the National-Security State by Jacob G. Hornberger State of Fear  by Chris Hedges The American System of Suffering, 1965-2014  by Nick Turse & Tom Engelhardt A Policy of Masterly Inactivity by Bruce Fein

-Telecoms look at pan-Europe network. EU prompting over radical options on competitiveness. FT

-Ernst & Young’s base case forecasts for the eurozone holds that its economy will stagnate in 2013 before growing by just 1.3% a year in 2014-16, while unemployment will continue to rise throughout most of the year, peaking at close to 20 million.As such, EY believes that the eurozone is currently facing the consequences of a ‘lost decade’.”Low growth numbers, uncertainty of the survival of the euro and high unemployment lies ahead. Even though uncertainty clouds the eurozone, great progress has been made in securing the near-term future,” EY clarifies.”Businesses thus need to plan for a European ‘lost decade’. The eurozone operating environment will be tough for both business and political leaders. The necessary restructuring of the eurozone economy will, as seen in the figures, continue to dampen growth for some time,” EY adds.  eFXnews

-Futures. USA and European Futures are set to open up .2-.3 pc

-People wake up the fact the German Economy is not healthy and Merkel is ruining Schroeder’s hard work and reforms.

German Chancellor Angela Merkel’s economic machine is beginning to show signs of neglect. As the continent’s growth engine and self-appointed fiscal paragon orders budget cuts for its peers, investors, economists and policy makers are starting to warn Germany is turning a blind eye to its own weaknesses. Joerg Asmussen, a European Central Bank board member nominated by Merkel, has gone as far as to predict a return to the status of “Sick Man of Europe” should they go unfixed.Without Merkel and a largely supportive German electorate ready to back over 300 billion euros ($393 billion) in bailouts and guarantees, Europe’s debt crisis could have already broken up the single currency. At the same time, the drive to rescue Europe has distracted her from signs of economic drift at home as labor costs rise at the fastest pace in a decade, erasing most of the progress made under predecessorGerhard Schroeder.“Merkel has had to work with the cards that history has dealt to her and Europe has been a priority,” said Irwin Collier, professor of economics at the Freie Universitaet in Berlin. “But you have to do a lot of things at the same time, and it’s clear now things have to change at home too.”.. BBN

- 155 Asia

Asian markets rose on the backs of the Alcoa earnings report early in the session, only to trend  back into the red as the trading day wore on in Asia. Earnings came in as expected, but revenues  were stronger than consensus, while 2013 aluminum demand growth estimated was revised up to 7% from 6% in 2012 and 6.5% required to meet Alcoa’s long-term targets. Shares were trading up over 1% after hours despite the  announcement of the  resignation by Alcoa’s  CFO. Alcoa’s forecasts have had mixed accuracy, and the quarter clearly benefited from China restocking, Aluminum, like Iron Ore.  London is currently short Aluminum and is projecting a 20 pc price decline due to inadequate capacity shut down by Alcoa and other producers.

The Yen weakened and Japanese equity markets rallied as the Japanese press , citing sources close to the  BOJ, said the BOJ  will consider adopting a 2% inflation target and may also continue to expand its asset purchase program beyond the current ¥101T level. Cabinet officials also continued to insinuate that the new government will seek to appoint more like-minded officials to the policy board of the BOJ once the Gov Shirakawa and 2 Dep Governor’s terms expire this spring. Session lows in JPY hit once an analyst with Fitch noted a downgrade of Japan is not out of the question if the Japan does not control its spending. Japanese exporters, which is to say most of Japan are in bliss with the Y/D trading at 87.5. The Nikkei was up .67 to 10578 on the back of the Yen weakness.

Hong Kong stocks were up .21 % (HS) whereas mainland China stocks were down .39 % for the Shanghai composite. China is expected to release its most recent batch of trade data, including export figures, during Thursday’s Asian session.Tomorrow’s China customs administration report may show exports rose 5 percent last month from a year earlier, up from 2.9 percent in November, while imports gained 3.5 percent after being unchanged the prior month, based on analyst estimates. Overseas shipments gained 13.4 percent in December 2011. Of note in China has been the nightly talking heads from the Government revising the 2013 FY growth up to 8 pc.

Korea’s KOSPI  fell 0.31 % after a report showed the country’s unemployment was unchanged in December.   Korea National Statistical Office said that South Korean Unemployment Rate remained unchanged at a seasonally adjusted annual rate of 3.0%, from 3.0% in the preceding month. Analysts had expected South Korean Unemployment Rate to remain unchanged at 3.0% last month.

Australia’s ASX  climbed modestly to finish up .38 % despite a weak retail sales report. Retail sales in Australia fell unexpectedly last month, official data showed on Wednesday. The Australian Bureau of Statistics said that Australian retail sales fell to a seasonally adjusted -0.1%, from 0.0% in the preceding month. Analysts had expected Australian retail sales to rise 0.3% last month.The wind was knocked out of the Aussie dollar by the weak retail report.

Malaysian stocks were just slightly higher after a better than expected trade balance figure was released. New Zealand finished up .32 pc, and in Singapore the Strait Times Index is up .26 %. European futures are up .2 pc.

	Gold	1662.95	+0.75	+0.05%
	Silver	30.475	+0.010	+0.03%
	Copper	3.674	-0.005	-0.15%
	Crude Oil	93.04	-0.11	-0.12%
	Natural Gas	3.186	-0.041	-1.27%
	US Cotton No.2	75.03	-0.10	-0.13%
	US Coffee C	146.62	-2.33	-1.56%

	EUR/USD	1.3085	+0.0004	+0.03%
	GBP/USD	1.6054	-0.0001	-0.00%
	USD/JPY	87.49	+0.44	+0.50%
	USD/CHF	0.9241	-0.0001	-0.01%
	AUD/USD	1.0507	+0.0004	+0.03%
	USD/CAD	0.9869	+0.0002	+0.02%
	EUR/GBP	0.8151	+0.0003	+0.04%

Bonds

Japan 10yr 0.84-0.00, 0.57%

U.S. 10yr 1.88+0.01, -0.51%

- Dongfeng : Reports 2012 passenger vehicle sales +5.4% y/y at 2.45M units – financial press

- Hyundai : China sales said to have accounted for about 20% of total revenue in 2012 – Korean press

- Kia : Unveils upgraded versions of its flagship K9 luxury sedan without a price increase at $49.2K – Korean press

-JAL : Does not plan to change order for 38 Boeing 787 Dreamliner units following recent engine fire – Nikkei

-  Former World Bank Economist Lin Yifu: China economy has potential to grow above 8% for the next 20 years.  According to chief economist of China’s Industrial Bank, Dec economic data will be mixed with stronger retail sales but weaker industrial production and investment - China Bank of Communications (BoCom): Recent data have confirmed economic recovery; Attention now shifting to CPI data in light of recent rise in food prices. According to Shanghai Hudson Recruitment employment agency, 2 out of 3 applicants refuse final offers from employers because salaries are too low. According to Shanghai Deovolente Realty Co, Shanghai transaction volume of pre-owned homes in 2012 rose nearly 50% to 188.2K units – Shanghai Daily , China Daily SMH

- Japan stimulus set to exceed ¥20T – Yomiuri News

-  According to a survey by Yonhap, 15 out of 21 economists expect Bank of Korea (BOK) to keep rates unchanged for the 3rd consecutive meeting; 6 expect a 25bp rate cut

-  Hugo Chavez reportedly will NOT be sworn in for a new term on Jan 10, as was previously scheduled – financial press

-Fitch analyst: Would consider a downgrade of Japan without action on debt ( USD/JPY: Rises to session highs above ¥87.50 following comments from Fitch )

- AUD/USD: Falls about 20 pips to $1.0495 after worse than expected retail sales data

- (US) API PETROLEUM INVENTORIES CRUDE: +2.36M V +1.5ME (first build in 4 weeks); GASOLINE: +7.93M V +2.5ME; DISTILLATE: +5.85M V +1ME; UTILIZATION: 88.9% V 90.5% W/W

- GLD: SPDR Gold Trust ETF daily holdings fall by 0.9 tons to 1,339.8 tons (lowest since Nov 15th)

- SLV: iShares Silver Trust ETF daily holdings rise to 10,112 tons from 10,061 tons – update as of Jan 7th

-Asia Session Economic Release Summary

(AU) AUSTRALIA NOV RETAIL SALES M/M: -0.1% V +0.3%E (first decline in four months)
(AU) AUSTRALIA NOV JOB VACANCIES Q/Q: -6.9% V +4.1% PRIOR
(AU) AUSTRALIA NOV HIA NEW HOME SALES M/M: 4.7% V 3.4% PRIOR (2nd straight increase)
(NZ) NEW ZEALAND NOV BUILDING PERMITS M/M: -5.4% V -2.0% PRIOR (2nd month of decline)
(KR) SOUTH KOREA DEC UNEMPLOYMENT RATE: 3.0% V 3.0%E
(MA) MALAYSIA NOV TRADE BALANCE (MYR): 9.3B V 8.8BE

(UK) UK DEC BRC SHOP PRICE INDEX Y/Y: 1.5% V 1.7%E

-After Hours USA markets

AA: Reports Q4 $0.06 (adj) v $0.06e, R$5.99B v $5.58Be; +1.1% afterhours
CLWR: Receives unsolicited proposal from Dish Network to purchase all shares of common stock at $3.30/shr; +8.9% afterhours
STX: Reports prelim Q2 Rev “at least” $3.6B v $3.53Be, Gross margin in excess of 27%; +2.1% afterhours
APOL: Reports Q1 $1.18 v $0.90e, R$1.06B v $1.03Be; -5.4% afterhours

-Welcome Back. The site was knocked off line for a few hours. Apparently someone is very touchy about the Boeing Sabotage angle. I was going to publish some interesting things I observed and was hacked when I tried to publish it.

Time	Cur.	Imp.	Event	Actual	Forecast	Previous
04:00	NOK		Norwegian Core Retail Sales (MoM)		0.90%	-1.10%
04:30	GBP		Trade Balance		-9.1B	-9.5B
05:00	EUR		GDP (QoQ)		-0.1%	-0.1%
06:00	EUR		German Industrial Production (MoM)		1.0%	-2.6%
06:30	INR		Indian M3 Money Supply			12.90%
07:00	USD		MBA Mortgage Applications (WoW)			-10.4%
08:15	CAD		Housing Starts		195.00K	196.10K
09:00	MXN		Mexican CPI (YoY)		3.71%	4.18%
09:30	BRL		Brazilian Foreign Exchange Flows			-6.76B
10:30	USD		Crude Oil Inventories		1.469M	-11.120M
10:30	USD		Gasoline Inventories		2.325M	2.569M
13:00	USD		10-Year Note Auction			1.652%
16:45	NZD		Trade Balance		-620M	-718M
19:00	NZD		ANZ Commodity Price Index (MoM)			1.0%
19:30	AUD		Building Approvals (MoM)		5.0%	-7.6%
Tentative	CNY		Chinese Trade Balance		20.05B	19.60B
22:00	KRW		South Korean M2 Money supply			7.80%

NEWSLINKS

-Blackstone Rushes $2.5 Billion Purchase as Homes Rise

http://www.bloomberg.com/news/2013-01-09/blackstone-steps-up-home-buying-as-prices-jump-mortgages.html

 

-Obama Said to Name Jack Lew to Replace Geithner at Treasury

http://www.bloomberg.com/news/2013-01-09/obama-said-to-name-lew-tomorrow-as-choice-to-replace-geithner.html

 

-China-Japan Dispute Takes Rising Toll on Top Asian Economies

http://www.bloomberg.com/news/2013-01-08/china-japan-dispute-takes-rising-toll-of-asia-s-top-economies.html

-Goldman Sachs Said to Be Part of Fed-Led Foreclosure Settlement

http://www.bloomberg.com/news/2013-01-08/goldman-sachs-said-to-be-part-of-fed-led-foreclosure-settlement.html

-English taxpayers ‘forced to bail out independent Scotland’s banks’

http://www.telegraph.co.uk/news/uknews/scotland/9789697/English-taxpayers-forced-to-bail-out-independent-Scotlands-banks.html

 

Tell you English , what you pay for all that stolen Scottish oil, and Scotland will take care of the banks Sir Fred Goodwin and the other Anglomason mucked up.

-Multilateral trade deals are dead, says French industry minister Arnaud Montebourg

http://www.telegraph.co.uk/finance/economics/9788990/Multilateral-trade-deals-are-dead-says-French-industry-minister-Arnaud-Montebourg.html

-David Cameron’s EU rethink ‘may hurt UK economy’, say business leaders

http://www.telegraph.co.uk/finance/economics/9789393/David-Camerons-EU-rethink-may-hurt-UK-economy-say-business-leaders.html

-Comrade Barroso, the existential threat to the euro is mass unemployment-AEP

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100022145/comrade-barroso-the-existential-threat-to-the-euro-is-mass-unemployment/

-Brussels fears ‘poverty trap’ for half of Europe as North-South gap widens

http://www.telegraph.co.uk/finance/financialcrisis/9789086/Brussels-fears-poverty-trap-for-half-of-Europe-as-North-South-gap-widens.html

-Hedgefonds verdient Millionen an deutschem Wetter

Ein britischer Hedgefonds hat allein im Dezember 39 Prozent an Wert zugelegt. Und das nur, weil er auf warme Temperaturen in Deutschland wettete. Seine vermögenden Kunden dürften jubeln.

London racks up another ‘lucky’ score betting  on Warm German Winter.

http://www.welt.de/finanzen/article112633064/Hedgefonds-verdient-Millionen-an-deutschem-Wetter.html

 

-Merkel Challenger Steinbrück Fails to Find His Feet

http://www.spiegel.de/international/germany/spd-chancellor-candidate-peer-steinbrueck-goes-from-gaffe-to-gaffe-a-876157.html

-Germany Gears Up for Big Pay Hikes

http://www.spiegel.de/international/germany/german-trade-unions-demanding-big-pay-increases-after-years-of-restraint-a-876268.html

-Interview with German Opposition Leader’Merkel’s Track Record Is Disastrous’

http://www.spiegel.de/international/germany/interview-with-spd-head-sigmar-gabriel-on-german-election-issues-a-876222.html

-Obama’s War On Terror is Orwell’s Never Ending War Of Terror-Veteran’s Today

http://bit.ly/ZoSNX3

-Debt ceiling no place for stand on spending: Nasdaq’s Greifeld

http://www.reuters.com/article/2013/01/09/us-usa-fiscal-greifeld-idUSBRE90803R20130109

-China will rely more on renewable energy in 2013: China will boost its support of new energy and renewable energy

http://bit.ly/ZFAyl2

-China’s Hanergy buys U.S. solar firm Miasole

http://www.marketwatch.com/story/chinas-hanergy-buys-us-solar-firm-miasole-2013-01-09

-Two Boeing 787 incidents raise concerns about jet

http://www.reuters.com/article/2013/01/08/us-boeing-japan-airlines-idUSBRE9070T320130108

-Exclusive: BOJ may ease again, double inflation target

http://www.reuters.com/article/2013/01/09/us-japan-economy-boj-idUSBRE8BR04C20130109

-Special Report: How Mario Draghi is reshaping Europe’s central bank

http://www.reuters.com/article/2013/01/09/us-draghi-ecb-inside-idUSBRE90807H20130109

-China Shadow Banking Risks Emerge

http://www.bloomberg.com/news/2013-01-08/china-loan-share-seen-at-record-low-as-data-show-risks.html

-Japan Air Aborts Boeing 787 Flight as Leak Follows Fire

http://www.bloomberg.com/news/2013-01-08/japan-airlines-dreamliner-leaks-fuel-towed-to-gate.html

-Merkel Economy Shows Neglect as Sick Man Concern Returns

http://www.bloomberg.com/news/2013-01-09/merkel-economy-shows-neglect-as-sick-man-concern-returns.html