- Spain Industrial Output declines for the 15th straight month. Spanish Business Bankruptcy +35 pc y/y.
-German Steel Production Tanks in December.
-UK Mfg/Industrial production crumples in November y/y. Boeing Driver?
-R&I Cuts Spain and Italy
-FED Plosser (hawk, non voting)growth of around 3% this year and in 2014 and said the unemployment rate may fall to near 7% by the end of the year. Wants tightening
-FED George ( moderate, voting) Uneasy about ongoing Fed asset purchases
- FEd’s Kocherlakota (hawkish non-voter): US GDP to rise by 2% in 2013, 3% in 2014; monetary policy is too tight at the moment, inflation expected to remain subdued
- FEd’s Bullard: New bond buying program makes monetary policy more potent, but monetary policy is not a panacea.
-Germany Econ Contracted in 4Q, German Econmin
-Problem number 4, Cracks Appear in 787 Cockpit Window, and Number 5, oil leak in RR engine
-Merkel Tells Cameron to not Blackmail EU!
-IBM Leads world in Patents with 6478 in 2012
-Socialist Jeroen Dijsselbloem Dutchman to get EU Finmin head , replacing Juncker
-Gold hits new record in Japan
-Japan Cabinet unveils $116 Bn Stimulus ( additional Deficit spending) Plan
-American Express to cut 5,400 jobs
-“We are now back in a normal situation from a financial viewpoint, but we are not at all seeing an early and strong recovery,” European Central Bank President Mario Draghi said yesterday. Luxembourg Prime Minister Jean-Claude Juncker, who leads euro-area finance ministers, echoed that by saying, “the worst is over, but what we still have to do is difficult.” BBN
Liars. It is the ESM rigging the markets, not ‘normal’ market action. Look at the economic data, UK mfg/industrial production crumbling, Spain business bankruptcies up 35 pc for , 17 month of contraction in Spain for industrial output, German Steel Production tanking. Cyprus bankrupt. German Economic minister comes out and contradicts the EU Draghi/Juncker horror show and said Germany will contract in Q4 today. What ‘recovery’ Draghi, your ship is sinking no matter how much back door QE you do with your LTROs and with the ESM/EU slush fund. You do have a rip roaring inflationary recession, so congrats!! The Euro dollar is a complete fraud. There is no money in the ESM so they are using derivative markets to rig markets. I will bet record ‘trading’ profits at DB since this ESM started up.
-Global Market Pricing Including USA
U.S. STOCKS | See all U.S. Stocks Data
10:12 a.m. EST 01/11/13Major Indexes
10:12 a.m. EST 01/11/13Markets Diary
9:52 am EST 01/11/13Most Active Stocks (Roll over for charts and headlines)
9:52 am EST 01/11/13Decliners
10:11 a.m. EST 01/11/13Major World Indexe
10:12 a.m. EST 01/11/13Key Currency Cross Rates
-Wells Fargo & Co. (WFC), the largest U.S. home lender, reported a 24 percent rise in fourth-quarter earnings as the bank extended more credit. The shares slipped as margins narrowed and mortgage applications waned.Net income advanced to a record $5.09 billion, or 91 cents a share, from $4.11 billion, or 73 cents, a year earlier, the San Francisco-based bank said today in a statement. Results beat the 89-cent average estimate of 27 analysts surveyed by Bloomberg. Revenue increased 7 percent to $21.9 billion, outpacing the 3 percent gain in noninterest expense.
-FAA to speak live on Boeing this morning on BBN-TV
-Zionist naked hedge fund short cartel get their lunch eaten by the Street in Herbal Life
D.A. Davison analyst Timothy Ramey on Friday said Herbalife is a “compelling buy” at any price below $70 a share, despite criticism of the company by hedge fund manager Bill Ackman of Pershing Square Capital Management. Ramey said Thursday’s presentation by Herbalife in response to Ackman’s Dec. 20 attack was solid. “The company so thoroughly and completely silenced the noise of its critics with its calm recitation of the facts of its business,” Ramey said in a note to clients. “Having faith in the collective wisdom of the Street, this analysis will likely drive these shares much higher and soon.” After the Herbalife presentation on Thursday, Ackman released a statement saying he remains bearish on the company. Shares of Herbalife fell 1.7% to $38.56 in premarket trades on Friday but rose back towards even after trading opened, down only .4 pc or so.
-London as Jim Cramer showed us Yesterday must have had a big short position in Boeing. ‘Gremlins’ seem to have gotten into the B787. Boeing is learning a lesson about its European ‘partners’ and suppliers or how deep the Mossad has penetrated Boeing Suppliers. Good old Rolls Royce, and their leaker. Yet Rolls Royce whose engine leaked is down only .3 pc today at 888 in London as the ZGR types. The English press is bashing the heck out of Boeing along with Time and the other Zionist rags in the USA, but no mention of the Rolls Royce engine oil leak in the UK. The EU/UK can’t afford to lose any more orders to Boeing. That is what this is all about I expect. And industrial sabotage is highly suspect.
-Bad news for the English press, after attempting to demonize the Professor who questions if Sandy Hook even happenD, the response by normally government loving readers at the Daily Mail overwhelming supported the Professor and that hardly anyone believes the story of the USA government and media. Sandy Hook was an Anglomason-Zionist black operation probably ordered by MI6 to confiscate guns.
-0948 BA (Boeing) $ 75.67 -1.42 -1.84%
-The U.S. trade deficit widened 15.8% to $48.7 billion in November, hitting the largest deficit since April, compared with a revised $42.1 billion deficit in October, the U.S. Department of Commerce reported Friday. Imports rose 3.8% to $231.3 billion, the highest level since April, while exports increased 1% to $182.6 billion. Economists surveyed by MarketWatch had expected the trade deficit to narrow to $41.3 billion in November from a prior October estimate of $42.2 billion, but noted that monthly results could be skewed by recent longshoreman strikes. On an unadjusted basis, U.S. trade deficits widened with Canada and the European Union, but narrowed with China and the oil-producing OPEC nations. MW
-Philadelphia Fed President Charles Plosser (non voting) said Friday there are some risks to inflation in the medium to longer run unless monetary policy is tightened more quickly than the Fed anticipated in its last statement. He expects growth of around 3% this year and in 2014 and said the unemployment rate may fall to near 7% by the end of the year. More FED Rhetoric to enable Gold Cartel to cover on Friday and thwart run to 1700.
- German Econ Min Roesler: Reiterates that Q4 GDP likely to have contracted; growth to revive as 2013 progresses.
- EU Commissioner Rehn commented that Europe must continue reforms but EU nations could get more time to reduce their deficits and to judge deficit reduction in structural terms. He saw some easing of credit conditions but not enough.
- France President Hollande: Stability and integrity of Euro zone now assured; Euro austerity measures have caused suffering.
- S&P : Expects Ireland to remain at investment grade throughout 2013.
- China PBoC: Reiterates to maintain prudent monetary policy in 2013 and continue with FX reserve diversification
-Japan rating agency R&I cuts Italy sovereign rating to A; Removes from monitor. Japan rating agency R&I cuts Spain’s sovereign rating to BBB; removes from monitor.
- German Foreign Min Westerwelle: Cyprus bailout not in sight; country has to significantly improve the transparency of its banking sector
- IAEA’s Amano: Not optimistic on upcoming Iran nuclear talks on getting access to a military base suspected of use for atomic-weapons related work
9:32 a.m. EST 01/11/13Major Indexes
-932 USA Open
MARKETS – AT A GLANCE
FTSE 1006,110+8, 0.14%
DAX 7,706-2, -0.03%
CAC 3,692-11, – 0.30%
MIB 17,435-16, -0.09%
IBEX 8,645+26, 0.30%
Stoxx 287-0, -0.15%
-0925 I will short the Euro at the opening in the USA equity markets. FED rhetoric used by London/NYC to pound gold overnight.
|US Cotton No.2||75.79||+0.59||+0.78%|
|US Coffee C||150.70||+0.97||+0.65%|
-Boeing down nearly 2 pc in premarkets.
-Prices paid for goods imported into the U.S. declined 0.1% in December, with lower prices for both fuel and nonfuel imports, the U.S. Department of Labor reported Friday. Economists polled by MarketWatch had expectedimport prices to rise 0.1% in December. The government revised November’s decline in import prices to 0.8% from a prior estimate of a 0.9% drop. Import prices for fuel declined 0.1% in December, as did prices for nonfuel imports. Meanwhile, the price of U.S.-made goods exported to other nations also declined 0.1%. For 2012, overall import prices fell 1.5%, the lowest change since 2008, led down by fuel imports. Meanwhile, in 2012 export prices rose 1.1%, also reaching the lowest change since 2008. MW
-Goldman Pumps F (probably means they are shorting) by adding Ford to conviction buy list.
- IFW sees Germany 2012 net borrowing at €22.8B vs. €28.1B planned. Expects Germany to borrow €16.5B in 2013 vs. €17.1B planned
- Moodys cuts Cyprus govt bond rating to Caa3 from B3 (3-notches); outlook negative; See probability of default at 50% .
- Greece Fin Min: Greece may balance its current account for the first time in decades in 2013; Greek bank deposits have risen by €8.3B since June.
- Portugal to receive and additional €3-4B from Troika. Portugese Press
- Foreign investors believed to have purchased a net of €22.5B in Spain’s bonds since Aug – US financial press
- 7233 companies file bankruptcy in Spain in 2012, +35% y/y – PWC study
- Spain and US to release double taxation agreement – Spain Press
-Thursday was talking FED-Head and control gold day at the FED. New FED head George (Anglosaxon) comes out on the Hawk side to give the FED more street cred. City of London and CME are in deep problems with naked gold shorts right now. FED creates a phony Hawk with George. Scripted Bullmanure designed to whipsaw markets and move them in the direction the FED wants short term and for member firm trading profits. The FED is as independent as the traders who work at Rothschilds bank.
US FEDs’ Kocherlakota (hawkish non-voter): US GDP to rise by 2% in 2013, 3% in 2014; monetary policy is too tight at the moment, inflation expected to remain subdued; Unemployment will fall only slowly; Sees 7.5% by end of 2013 and 7.0% in 2014; Sees some positive signs in housing, particularly increasing home values; Even 5.5% jobless rate not likely to spark inflation; Fed forecasts hints that unemployment can come down considerably without generating inflation pressures.
FEd’s Bullard: Must continue to be aggressive on monetary policy while being cognizant of risks to inflation; A little disturbed” by Japan FX rate policy; Unemployment will likely decline to 6.5% threshold by the middle of 2014, prompting a rethink of Fed zero rate policy; Fed is not prepared to exit policy now, but it might be time to examine the exit plan this year.
FED’s George (moderate, FOMC voter): Current policy risks fueling possible poor outcomes; recovery momentum is building; Uneasy about ongoing Fed asset purchases
-0855 European Credit Markets
Given the horrid industrial production out of Spain, the Spanish bond markets performance was ESM remarkable. Italian debt auction were satisfactory. Recall the ZGR shorted bunds on the very bottom at 1.3 pc for the 10 year. Since then as Spain and Italy have rallied Bunds have just been trashed. Indicating someone in Germany knows bunds are a lot riskier and the currency is being debauched. Money flowing out of bunds into German stocks has been the cause more than anything for the tear. That the Spread for CDS for Spain and Italy are virtually identical tells us the ESM and Regling have neutralized the City of London. Osborne essentially threatened the Europeans last night and had the affrontery to say the City of London was ‘well regulated’ and governed by the ‘rule of law’ to the German press in the interview he conducted in Die Welt demanding the Germans change or Britain would leave the EU. I’m amazed that little Zionist thug is not lynched when he visits Frankfurt given all the problems England has caused in Europe with the present crisis. Let us not forget it was Goldman Sachs London who showed the Greeks how to hide their debt. Osborne is so satanic, people should pray he is removed from power. His families money came from the opium and slave trade. He is as filthy of a human being morally as you can find outside of the Royal family and Rothschilds family.
U.S. 10y 1.91+0.01, -0.45%
German 10y 1 .59+0.03, -1.89%
Italy 10y 4.08-0.05, =1.18%
Spain 10y 4.89-0.23, 4.49%
U.K. 10y 2.09-0.010.40%
(IT) Italy Debt Agency (Tesoro) sold €3.5B vs. €3.5B indicated in Dec 2.75% 2015 BTP Bonds; Avg Yield 1.85% v 2.50% prior; Bid-to-cover: 1.45x v 1.36x prior .Sold €813M in Jun 2017 CCTeu Floating Rate Note; Avg yield 2.17% v 4.56% prior; Bid-to-cover: 2.77v 2.18x prior. Sold €687M in Oct 2017 CCTeu Floating Rate Note; Avg yield 2.34% v 5.59% prior; Bid-to-cover: 2.12v 1.98x prior
-EU Session Economic Release Summary
(SE) Sweden Dec PES Unemployment Rate: 4.8% v 4.8%e
(FR) France Nov Current Account: -€2.9B v -€2.9B prior
(ES) Spain Nov Industrial Output WDA Y/Y: -7.2% v -4.0%e (15th straight monthly decline); Industrial Output NSA Y/Y: -7.3% v 0.6% prior
(CZ) Czech Nov Retail Sales Y/Y: -1.8% v 0.0%e
(DK) Denmark Nov Industrial Production M/M: -0.5% v -1.4% prior; Industrial Orders M/M: +5.9 v -11.0% prior
(TR) Turkey Nov Current Account: -$4.5B v -$1.9B prior
(EU) ECB: €192M borrowed in overnight loan facility vs. €0.0M prior; €231.5B parked in deposit facility vs. €233.6B prior
(CH) Swiss Dec CPI M/M: -0.2% v -0.1%e; Y/Y: -0.4% v -0.3%e
(CH) Swiss Dec CPI EU Harmonized M/M: +0.1% v -0.5% prior; Y/Y: -0.3% v -0.1% prior
(SE) Sweden Nov Average House Prices (SEK): 2.016M v 1.976M prior
(NL) Netherlands Nov Industrial Production M/M: 0.0%e v -1.0% prior; Y/Y: -0.7%e v -1.7% prior; Industrial Sales Y/Y: No est v 3.3% prior
(IT) Italy Q3 housing prices -1.1% q/q, -3.2% y/y – Istat
(UK) Nov Industrial Production M/M: 0.3% v 0.8%e; Y/Y: -2.4% v -1.9%e
(UK) Nov Manufacturing Production M/M: -0.3% v +0.5%e; Y/Y: -2.1% v -1.3%e
(PT) Portugal Dec Consumer Price Index M/M: 0.0% v 0.0%e; Y/Y: 1.9% v 1.9%e
(PT) Portugal Dec CPI EU Harmonized M/M: 0.2% v 0.0%e; Y/Y: 1.9% v 1.9%e
(IN) India Nov Industrial Production Y/Y: -0.1% v 0.2%e
(IN) India Dec Trade Balance: -$17.6B v -$19.2B prior; Imports Y/Y: 6.3% v 6.4% prior; Exports Y/Y: -1.9% v -4.2% prior
- Ford Motor Co. said Friday that it’s planning to hire 2,200 salaried workers in the U.S. this year to support the introduction of new products. The job additions announced Friday were the company’s largest increase in new salaried workers in more than a decade, it said. Ford is now more than halfway to reaching its target of creating 12,000 hourly U.S. jobs by 2015, it said.
-USA Market Day Ahead
I will be traveling and miss the USA budget figures at 1400, but will post when I get to ground.
8:30 AM ET
Charles Plosser Speaks
9:30 AM ET
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50||2650.13||-0.22||-0.01|
|Stoxx Europe 600||287.36||-0.08||-0.03|
|Euro Stoxx 50||2712.06||3.79||0.14|
|Austria: ATX Index||2473.60||-4.33||-0.17|
|Denmark: OMX Copenhagen 20||523.30||0.83||0.16|
|Estonia: OMX Tallinn||771.72||-1.25||-0.16|
|Finland: OMX Helsinki||6096.54||41.82||0.69|
|France: CAC 40||3704.45||1.33||0.04|
|Greece: Athens General||980.49||-4.36||-0.44|
|Greece: DJ Greece TSM||753.49||-3.25||-0.43|
|Greece: FTSE/ATHEX 20||334.28||-2.25||-0.67|
|Iceland: OMX Iceland All-Share*||724.30||10.62||1.49|
|Ireland: ISEQ Overall||3493.60||-6.37||-0.18|
|Italy: FTSE MIB||17464.01||12.94||0.07|
|Latvia: OMX Riga||406.94||-0.61||-0.15|
|Lithuania: OMX Vilnius||367.40||0.35||0.10|
|Norway: OSE All-Share||507.51||0.50||0.10|
|Portugal: PSI 20*||6090.64||77.56||1.29|
|Russia: DJ Russia Titans||6458.25||5.79||0.09|
|Spain: IBEX 35||8656.30||37.40||0.43|
|Sweden: OMX Stockholm||351.69||0.68||0.19|
|Switzerland: Swiss Market||7166.48||22.75||0.32|
|UK: FTSE 100||6105.90||4.39||0.07|
|UK: FTSE 250||12757.44||26.66||0.21|
|UK: FTSE AIM All-Share||736.52||1.85||0.25|
-BATS Global Markets Inc. rushed on Thursday to allay concerns of customers and regulators after announcing that errors on its exchange went undetected for four years, violating securities laws and allowing hundreds of thousands of bad trades to be executed.The firm said the errors mean the trades weren’t completed at the best possible price on offer, a requirement of U.S. securities law. The problems affected about 250 customers, BATS said, and cost them about $420,360 in total.While the cost to customers was relatively small, analysts said the damage to the industry and the exchange could be much greater. The BATS announcement, one in a monthslong succession of glitches, snafus and misfires at exchanges and brokerages, threatens to further undermine investor confidence in financial markets.The announcement concerned officials at the Securities and Exchange Commission, who called a meeting Thursday to discuss the matter…
-B787 Wow, another one!!
(Reuters) – Oil was discovered leaking from the left engine of a Boeing 787 Dreamliner flight operated byAll Nippon Airways on Friday, the airline said, adding to the number of recent incidents involving the aircraft. An ANA spokeswoman said the leak was found after the flight landed safely at Miyazaki airport in southern Japan shortly before 0600 GMT. The spokeswoman said the returning flight to Haneda airport close to Tokyo had been cancelled, and that the airline was investigating the leak. There were no injuries, ANA said.
Rolls Royce’s are known leakers.
-EU’s Rehn rules out debt “haircut” for Cyprus http://reut.rs/VqoQIr
-Cracks appeared Friday in the cockpit window of a787 Dreamliner flying in Japan, the latest in a string of mishaps withBoeing’s newest and most sophisticated jet.The plane was operated by All Nippon Airways and was heading from Tokyo to Matsuyama, in southern Japan. The flight, NH585, which was carrying 237 passengers , departed from Tokyo’s Haneda airport at 9:35 a.m. local time and landed safely. No one was injured, a spokeswoman for the Japanese carrier, Megumi Tezuka, said by phone from Tokyo. The return flight, NH590, which had been due to depart just before midday, was cancelled to allow for the screen to be replaced.Ms. Tezuka added that this was the third time that cracks had appeared in the windshield of one of the 17 787s operated by ANA, after two similar incidents last year.The cracks appeared on the outermost of five layers that compose the cockpit screen, and did not endanger the aircraft, Ms. Tezuka said. Moreover, cracks of this kind are not unique to the 787 Dreamliner: other aircraft types operated by ANA also have had cracks appear from time to time.“We do not see this as a sign of a fundamental problem,” with the aircraft, Ms. Tezuka said.
Lufthansa falls 3.42% as UBS downgrades the stock. SAP gained 1.7 percent after unveiling the most significant overhaul of its enterprise-software system in two decades. CAP and ATO climbed 3.6 percent and 1.5 percent, respectively, as rival IT outsourcing company Infosys Ltd. raised its full-year sales forecast. Goldman Sachs downgrades BMW. USA futures are up a mere .1 pc, and Europe opens with a slight bias on Japan’s stimulus program and BOJ easing expectations.
-300 Europe Opens
Good level to sell Euro short against the dollar.
FTSE 100 index up 0.2% to 6,112.46
German DAX 30 index up 0.2% to 7,726.5
French CAC 40 index up 0.3% to 3,712.71
Stoxx Europe 600 index flat at 287.72
Regling Swings into Action!!!
German 10y 1.60+0.04, -2.53%
Italy 10yr 4.11-0.01, 0.22%
Spain 10y 4.90-0.22, +4.29
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1343.49||-1.03||-0.08|
|Australia: All Ordinaries*||4733.80||-11.40||-0.24|
|China: DJ CBN China 600*||20522.11||-423.51||-2.02|
|China: DJ Shanghai*||280.94||-6.16||-2.15|
|China: Shanghai Composite*||2243.00||-40.66||-1.78|
|China: Shenzhen Composite*||886.13||-16.06||-1.78|
|China: Shanghai 50*||1818.98||-36.50||-1.97|
|Hong Kong: Hang Seng||23243.50||-110.81||-0.47|
|India: BSE Sensex||19711.58||48.03||0.24|
|India: S&P CNX Nifty||5967.85||-0.80||-0.01|
|Indonesia: JSX Index||4311.00||-6.37||-0.15|
|Indonesia: JSX BISNIS 27||367.60||0.53||0.14|
|Indonesia: JSX Islamic||591.88||-0.23||-0.04|
|Indonesia: JSX LQ-45||734.37||0.47||0.06|
|Japan: DJ Japan TSM*||559.71||6.05||1.09|
|Japan: Nikkei Average*||10801.57||148.93||1.40|
|Japan: TOPIX Index*||898.69||9.67||1.09|
|Malaysia: DJ Malaysia TSM||3120.37||-4.73||-0.15|
|Malaysia: FTSE Bursa Malaysia KLCI||1684.04||-0.53||-0.03|
|New Zealand: NZX 50*||4131.75||12.67||0.31|
|S. Korea: KOSPI*||1996.67||-10.13||-0.50|
|S. Korea: KOSPI 50*||1722.24||-11.48||-0.66|
|S. Korea: KOSPI 100*||1995.68||-12.54||-0.62|
|S. Korea: KOSPI 200 Composite*||263.32||-1.63||-0.62|
|Singapore: FTSE Straits Times||3214.54||-11.71||-0.36|
- A great American!!
Florida professor won’t back down from Newtown massacre conspiracy theory when confronted by news cameras
-Turkey’s war hits streets of Paris.
Hunt on for killers after three women who supported the Kurdish separatist movement are executed in their office. This is a war without end unless the government makes concessions. Independent, London
Yes these Judeo-Islamic fanatics, the Khurds make a fine addition to Europe!!
-The MET, a police force of English Criminals..
Counter-terrorism officer guilty over News of the World leak. Detective Chief Inspector April Casburn tried to sell information on hacking probe. Independent London.
-Up to 500 assaults: Extent of Savile abuse to be revealed
SAC has told employees and business partners it is bracing for client withdrawals of at least $1 billion this year—nearly 17% of the money it manages for outside investors—amid intense regulatory scrutiny of alleged insider trading. WSJ
Could be trouble for shares.
-Number of the day
That’s how many U.S. patents IBM racked up last year, a record for the computer-services giant and more than any other company for the 20th consecutive year. The number of patents was boosted by increasing contributions from IBM’s inventors in other countries, research firm IFI Claims Patent Services said Thursday. The flow of patents helps provide IBM with about $1 billion a year in licensing revenue.
Read more: http://www.sfgate.com/business/article/IBM-had-a-record-6-478-U-S-patents-in-2012-4184813.php#ixzz2HeLnsLPM
-Luxury Jeweler Theo Fennell issues profits warning after ‘disappointing’ Christmas
|DJIA INDEX FUTURE Mar13||13,399.00||-0.05%||13,432.00||13,432.00||13,396.00||02:02:10|
|S&P 500 FUTURE Mar13||1,466.40||-0.05%||1,469.20||1,471.00||1,466.10||02:05:46|
|NASDAQ 100 FUTURE Mar13||2,736.25||-0.03%||2,744.00||2,744.00||2,735.50||02:00:09|
|EURO STOXX 50 Mar13||2,711.00||+0.37%||2,712.00||2,713.00||2,711.00||02:02:48|
|FTSE 100 IDX FUT Mar13||6,067.50||+0.21%||6,076.00||6,078.50||6,064.00||02:02:23|
|DAX INDEX FUTURE Mar13||7,730.00||+0.28%||7,730.50||7,733.00||7,730.00||02:02:39|
-The pressure comes as RBS is closing in on a settlement with US and UK regulators that is likely to see the state-backed bank fined at least £300m.John Hourican, head of RBS’s investment bank, and Peter Nielson, head of markets, are understood to be “under pressure” to step down.Sources suggested Mr Hourican and Mr Nielson were “stunned” and “let down” by the developments, described by one insider as “political convenience for the relentless baying of blood from regulators”.The two bankers have together earned in excess of £30m in the past four years and were yesterday working as usual in RBS’s London offices. Neither had been asked to offer their resignation. DT
Yeah, these guys new nothing about what went on in their bank despite making $5 million a year. They ‘was shocked’!
-Standard Chartered on China: We forecast average CPI inflation of 4% in 2013 and 5% in 2014, higher than market consensus of 3.1% and 3.5%
-‘Armed’ college student, Marxist , Eric
Holder stormed student lounge
Well you won’t see that headline in the MSM, much less from the tony English!!
- World Gold Council (WGC): Emerging market central banks continue to buy gold; allocations remain relatively low. Kitco
-German December crude steel production falls 12.5% m/m to 3.06M MT – German press
Oh, oh!! German Car (industry) crash!!
- Japan Fin Min Aso: too early to say if current account deficit will continue; Rise in import costs may weigh on corporate profits. Japan goverment calling on public pension funds to purchase more domestic stocks, foreign assets. Japan business lobby (Keidanren) chairman Yonekura: Welcomes Japan’s fiscal stimulus. Japan BoJ may continue easing until 2% inflation target reached – Japanese Press
- South Korea automakers’ 2012 domestic production fell 2.1% to 4.56M units – Korean press
- Credit Agricole analyst: Incremental gains in China’s FX reserves in 2012 suggests “capital outflows or the PBOC transferred the reserves to another entity”. Chinese city of Chongqing announced a new property tax on luxury residential properties priced at more than CNY12.8K/sq m . China said to be considering setting 2013 M2 money supply target at 13%. China targeting 2013 new yuan loans of approx CNY8.5T – China state researcher: PBoC may allow for more credit, loans in 2013 . China Commerce Ministry targeting “stable” trade growth. China official issues statement of continued support for Hong Kong Chief Exec Leung. Chinese Press
- NAB analysts lowering Australia 2013 GDP target to 2% from 2.5%; Sees jobless rate rising to 5.75%. Australia Bureau of Meteorology reports tropical cyclone strengthens to Category-4. Australia record high temperatures expected to continue for another week – Australian press. Australia govt to publish draft legislation addressing corporate bond market. Volatility index hinting at calm equities market. Australia firms increase use of yuan to settle China payments – Aussie Press
- New Zealand quake rebuild expected to widen the trade gap – New Zealand press
-Asia Session, Economic Release Summary
(JP) JAPAN DEC ECO WATCHERS CURRENT SURVEY: 45.8 V 48.08E (second straight rise); OUTLOOK SURVEY: 51.0 V 42.5
(JP) JAPAN NOV TRADE BALANCE – BOP BASIS: -¥847.5B V -¥832.0BE
(JP) JAPAN DEC BANK LENDING EX-TRUSTS: 1.4% V 1.1%E; BANK LENDING INCLUDING TRUSTS: 1.2% V 1.0% PRIOR
(JP) JAPAN NOV CURRENT ACCOUNT TOTAL: -¥222.4B V -¥17.1BE; ADJUSTED CURRENT ACCOUNT TOTAL: ¥225.9B V ¥277.4BE; CURRENT ACCOUNT BALANCE: -276.4% V -84.1%E
(JP) Japan NOV Conference Board Leading Economic Index m/m: 91.7 v 92.7 prior
(CN) CHINA DEC PRODUCER PRICE INDEX (PPI) Y/Y: -1.9% V -1.8%E
(CN) CHINA DEC CONSUMER PRICE INDEX (CPI) Y/Y: 2.5% V 2.3%E (7-month high)
(KR) BANK OF KOREA (BOK) LEAVES 7-DAY REPO RATE UNCHANGED AT 2.75%, AS EXPECTED
- IDC: 2012 PC sales down 3.2% y/y; first annual decline since 2001
-”Die EU muss sich ändern, damit die Briten bleiben”
“The EU must change for Britain to Remain.”
George Osborne, Finance Minister, UK
f-cken Lügner und Schwein!!
Die Welt: Das klingt gut, aber kann sich der Finanzplatz London strengere Regeln überhaupt leisten?
Osborne: London ist bereits sehr streng reguliert, auch wenn das in Europa vielleicht anders wahrgenommen wird. Die Rechtsstaatlichkeit und der Schutz der Steuerzahler bleiben wichtige Faktoren, die auch künftig für London als Finanzplatz sprechen.
-Dutch Finance Minister Jeroen Dijsselbloem, a relative newcomer to EU politics, is now the favorite to take over the top spot at the Euro Group of euro-zone finance ministers.The evidence is mounting that Jeroen Dijsselbloem will be the new head of the Euro Group. The official announcement won’t come until the next meeting of the group of euro-zone finance ministers on Jan. 21. But in Brussels and other capitals within the currency bloc, the 46-year-old Dutch finance minister is already being openly referred to as the designated successor of Luxembourg Prime Minister Jean-Claude Juncker.On Wednesday, the 46-year-old member of Holland’s center-left Labor Party met with French Finance Minister Pierre Moscovici in Paris for a job interview. The Socialist government of President François Hollande has previously had reservations about Dijsselbloem, who has been leading a tough austerity program in the Netherlands in a coalition with the conservative Liberal party. No details of the meeting in Paris have been made public. The French government is apparently not ready to bend and to endorse Dijsselbloem’s nomination officially. But according to French observers, Moscovici and Dijsselbloem must have hit it off.”Dijsselbloem has everything Moscovici is looking for,” wrote the French business daily La Tribune. “Like Moscovici, he’s a reasonable man of the Left.” The French minister shouldn’t expect too much enthusiasm from his counterpart, summarized the paper. As Euro Group leader, Dijsselbloem will have to prove himself — particularly to the German public and government. Der Spiegel
-Hepatitis B Vaccines, toxic to Children
-USA Rail Traffic Slumping towards Another Leg Down
- 005 Asia
Asian stocks were mixed as Japan approved a $116 Bn stimulus package and as Chinese retail inflation surged in December on cold weather and crop damage.
Japanese stocks surged as the Yen /D surged to 89.35 before falling back to 89.0 as currency traders continued to be emboldened by Abe’s Statements on Wednesday and Thursday calling for a weaker yen (higher inflation). Abe said on Friday in an interview published in the Nikkei newspaper the BOJ should consider maximizing employment as a monetary policy, and the Yen surged after that comment. When a Treasury department or President/PM encourages speculators and traders to sell their own currency it is a very rare event. . Oddly enough JGBs, have not blinked an eye on all this inflation talk and deficit spending, despite the BOJ actually increasing the money supply broadly last month. There is virtually no inflation expectation in Japan if you look at JGB versus JGBi(Linker) spreads. So bond traders don’t believe the BOJ will continue it’s QE and not sterilize the bond buying, and we are only seeing a few BPs of movement in short term (five year and under) yields in the JGB market. The BOJ meets again Jan 20 and 21 st, where it is likely to increase its 101 Tn Yen QE programming. Various BOJ mouthpiece in their press have said the BOJ will proceed with more QE at their next meeting. Expectations for more easing from the BOJ were also fueled on current account deficit of -$2.5 bn in November the first deficit in 10 months and much larger than expected. The Nikkei was up 1.17%, at 10777. The Japanese cabinet endorsed a Y20Tn stimulus package that included an Y10.3Tn in extra outlay
The China’s consumer prices index rose 2.5 percent (y/y) December from a year earlier, the National Bureau of Statistics said today in Beijing. That compares with the 2.3 percent median estimate and a 2 percent y/y CPI in November. China experienced cold weather in December damaging crops and raising fuel bills. . The producer price index fell 1.9 percent in December from a year ago, marking the 10th consecutive month of decline. The retail inflation is still below the government forecast of 3.5 %. The Shanghai composite was down .48 and the Hang Seng was down slightly. CNY rose to record-year high 6.2187/$ following the China inflation data.
Australia’s ASX Index lost 0.2% after National Australia Bank reduced its interest rate forecast for 2013 to 2.25%. The bank is forecasting an interest rate from the RBA sometime in the current quarter with subsequent cuts in May and August.
The Kospi declined .78 % in Korea, and NZX was up slightly , .18 % in New Zealand. Singapore followed China down, and the Strait Times Index was -.46 %.
Buying of physical gold from China continued to underpin market sentiment, as buying has picked up before the Lunar New Year, when sales of both jewelry and bars and coins rise during the festival in China. Gold hit a new record in Yen on the Tocom in Japan.
European futures were up about .2 pc and USA futures were flat.
|Country: Index||Last||Change||% Chg|
|DJ Asia-Pacific TSM||1344.17||-0.35||-0.03|
|Australia: All Ordinaries||4737.10||-8.10||-0.17|
|China: DJ CBN China 600||20850.13||-95.49||-0.46|
|China: DJ Shanghai||285.62||-1.48||-0.52|
|China: Shanghai Composite||2272.78||-10.87||-0.48|
|China: Shenzhen Composite||901.74||-0.45||-0.05|
|China: Shanghai 50||1846.63||-8.85||-0.48|
|Hong Kong: Hang Seng||23335.12||-19.19||-0.08|
|India: BSE Sensex||19782.41||118.86||0.60|
|India: S&P CNX Nifty||5994.40||25.75||0.43|
|Indonesia: JSX Index||4322.08||4.71||0.11|
|Indonesia: JSX BISNIS 27||368.27||1.20||0.33|
|Indonesia: JSX Islamic||593.31||1.20||0.20|
|Indonesia: JSX LQ-45||736.35||2.44||0.33|
|Japan: DJ Japan TSM||559.97||6.31||1.14|
|Japan: Nikkei Average||10777.37||124.73||1.17|
|Japan: TOPIX Index||899.26||10.24||1.15|
|Malaysia: DJ Malaysia TSM||3125.61||0.51||0.02|
|Malaysia: FTSE Bursa Malaysia KLCI||1686.35||1.78||0.11|
|New Zealand: NZX 50||4126.36||7.28||0.18|
|S. Korea: KOSPI||1991.18||-15.62||-0.78|
|S. Korea: KOSPI 50||1717.53||-16.19||-0.93|
|S. Korea: KOSPI 100||1990.23||-17.99||-0.90|
|S. Korea: KOSPI 200 Composite||262.59||-2.36||-0.89|
|Singapore: FTSE Straits Times||3211.51||-14.74||-0.46|
|US Cotton No.2||74.98||-0.04||-0.06%|
|US Coffee C||149.72||+1.25||+0.84%|
Bonds and CDS
Japan 10yr 0.82-0.01, 0.87%
U.S. 10yr 1.91+0.01, -0.45%
CMA Data, London Close
-After Hours USA
- AXP: Reports prelim Q4 $1.09 v $1.05e, R$8.1B v $8.0Be; plans to cut workforce by 4-6%; -0.5% afterhours
- KBR: Guides FY12 EPS lower to $1.95-2.10 v 2.66e (prior $2.60-2.80); Guides initial FY13 $2.45-2.90 v $2.94e; -7.2% afterhours
- AAPL: CEO says no to cheap iPhones dispelling earlier reports it was looking at releasing a low cost iPhone for emerging market - financial press; +0.1% afterhours
-Our Fine USA Federal Government employees, hard at work, pimping and whoring globally!!
DEA Agent Arranged Prostitute For Secret Service Agent: Justice Department Report
Abolish the DEA and Secret Service. Probably sold his sister to his cousin in the FBI. Incest is really big among the ‘royals’.
-Geopolitical Headliners-Welcome Back!
|00:00||JPY||Economy Watchers Current Index||41.1||40.0|
|00:30||INR||Indian Industrial Production (YoY)||0.7%||8.2%|
|00:30||INR||Indian Manufacturing Output (MoM)||9.60%|
|Tentative||INR||Indian Trade Balance||-18.5B||-19.3B|
|02:45||EUR||French Current Account||-2.80B|
|02:45||EUR||French Government Budget Balance||-94.6B|
|03:00||EUR||Spanish Industrial Production (YoY)||-1.5%||-3.3%|
|04:10||EUR||Italian 3-Year BTP Auction||2.50%|
|04:30||GBP||Industrial Production (MoM)||0.8%||-0.8%|
|04:30||GBP||Industrial Production (YoY)||-1.9%||-3.0%|
|04:30||GBP||Manufacturing Production (MoM)||0.5%||-1.3%|
|06:30||INR||Indian Bank Loan Growth||16.30%|
|06:30||INR||Indian FX Reserves, USD||296.58B|
|06:30||INR||Indian M3 Money Supply||12.90%|
|08:30||USD||Import Price Index (MoM)||0.1%||-0.9%|
|09:00||MXN||Mexican Industrial Production (YoY)||3.2%||3.6%|
|10:00||GBP||NIESR GDP Estimate||0.1%|
|10:30||USD||ECRI Weekly Annualized (WoW)||4.90%|
|14:00||USD||Federal Budget Balance||-22.5B||-172.1B|
-Wealthiest Buyers Undeterred by Taxes on London Luxury Homes
-Trade Deficit in U.S. Jumps on Pre-Holiday Surge in Imports
-Wells Fargo Profit Rises as Bank Boosts Lending
-Draghi Shifts Crisis Gear as ECB Focuses on Economy Inbox
-Senior Angela Merkel allies warn David Cameron not to ‘blackmail’ EU
-In The Mobile Patent Wars, Google Armed Up In 2012
-EU not to blame for Austerity says EU Clown Bozo, er Barroso
-ECB rules out stimulus despite record jobless and fiscal squeeze-AEP
-We cannot let America’s tactical interests dictate Britain’s sovereign destiny-AEP
The English are a big sucking parasite of not only the USA, but Europe and won’t ever leave the EU unless a German nationalist comes to the forefront and boots, them, Turkey and Israel out. (It is only a matter of time before the EU borg absorbs the Turks and Jews)
-Apple CEO Cook Says China Will Overtake U.S. as Biggest Market
-The average rent of a U.S. apartment was $1,048/month in the fourth quarter, up 3.8% from a year earlier.
-Japan’s Abe Unveils 10.3 Trillion Yen Fiscal Boost: Economy
-Gross Raises Holdings of Treasuries to Highest Level Since July
-Boeing 787 Power System Said Focus of Special FAA Review
FAA has effective grounding of plane currently.
Zionist Times of New York Hit job on Boeing
-Biden Draws NRA/Freedom Lovers Fire in Gun Grab
A self admitted Zionist, although his Jewish heritage is known to only a few.
-AMEX To Cut 4500 jobs
-FED Faux Hawks Make Inflation Noise