Headliners
-GM Sells Out American People and ‘gifts’ China with American Money and R&D
-More Sandy Hook Truthers emerge in the Indy Media. Alex Jones won’t discuss Sandy Hook Truth, citing ‘heart broken (and soon to be rich) dads (actors)’.
-German Bundesbank hatches plan to get gold back from London/FED
-Detroit 2013 Auto show in Full Swing
-USA Retail sales .5 % m/m in Dec. , .3 % ex autos
-Empire State Mfg. index declines to -7.8, six month of decline in Jan
-Toyota to Move Prius Production to USA, Reclaims Number 1 spot
- Euro Working Group approved the disbursement of 9.2B tranche to Greece, to be ratified by the Eurogroup on Mon Jan 21st
- Germany 2012 GDP of +0.7% Y/Y; Q4 GDP seen -0.5%. Germany said to cut 2013 GDP growth to 0.4-0.5% from +1.0%(current official view)
- Bernanke: Housing positive factor; Still in relatively fragile economy; Important that Congress takes action to raise debt ceiling.
-President Obama: again rejected any negotiations regarding debt ceiling
-Treasury’s Geithner: Special debt-limit steps used to stay under debt limit may end by mid-March; Urges Congress to act
-House Speaker Boehner: Debt ceiling cannot be raised without spending cuts
-White House: Warns agencies to prepare for forthcoming budget and spending cut uncertainty
- Fitch: Debt ceiling delay would prompt a formal review of the US sovereign rating and put at risk for downgrade
-BoJ cuts econ assessment for 8 of 9 regions for the 2nd straight quarterly cut
-Japan Econ Min: Yen is correcting in-line with fundamentals; excessively weak Yen has negative effects
Commentary
-1602 Close
A wave of information hit the markets in the last two hours. From the FED doves trying to push the equity tape up to a Hawk trying to talk gold down; to Facebook deciding to reveal its new (bing) search engine in the afternoon session; to outgoing Juncker calling for the ESM to end the Euro short squeeze; to the APPL hatchets of London emerging from the shadows like Zionist hedge.The FED sent Plosser out to pound on gold after the CME floor closed and intervention was easier in the face of the Bundesbank announcement in the German press. Now that we know it is Silver Lake I can tell you the Dell buyout is real and that shareholders will be treated just like Seagate shareholders were ( I was one) on that buyout by Silver Lake. I did not own Dell, but have been darting in and out of HP, who took the PC king title back. I went long Dell when I saw the Silver Lake story break. I will hold it for the buyout deal. Needless to say BBN and the media heads were not on top of any of these stories. The FB drop in ‘marks’ has been brewing for some time as they boot non-Zionist and other free speech types talking about Sandy Hook off and probably finger dissidents to the communists. The stock is so massively over valued I don’t see how anyone can take FB seriously except as a short sale. Zuckerberg does not run FB anymore than Cheney ran Halliburton although Zuckerberg is far smater than his Ashkenazi cousin, Dick. Obama announced in the WSJ he would go for his gun grab and make an announcement with a bunch of kids, around 15 minutes before the close just to stir things up in the form of an Executive order on gun control. Harsh rhetoric flowed across the political isle today with democrats thumbing their noses, using guys like Krugman, Reich, etc at budget cut demands by the rats. USA equity markets were pushed back into the green or close to it at the close with even Tiny Tim emerging to talk up the budget mess he made.
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MARKETS – AT A GLANCE
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- Treasury Secretary Timothy Geithner said Tuesday that his department is taking another book-keeping manuever to buy additional time before hitting the debt ceiling. The agency will not invest fully in the pension fund of public employees. By law, the fund will be made whole one the debt limit is increased. Federal retirees and employees will be unaffected by this action, Geithner said in a letter to congressional leaders. On Monday, Treasury said it will likely run out of emergency measures to avoid a debt crisis sometime between mid-February and early March.
-ConocoPhillips COP +0.96% agreed to sell its properties in the Cedar Creek Anticline to Denbury Resources Inc. DNR +5.15% for $1.05 billion as the Houston company aims to focus on its unconventional Bakken position.”This disposition represents further optimization of our portfolio,” said Don Wallette, Conoco’s executive vice president of commercial, business development and corporate planning. “The transaction will allow us to focus our investments in North Dakota and Montana on our significant Bakken unconventional position.”The properties consist of about 86,000 net acres in southwestern North Dakota and eastern Montana. ConocoPhillips said its 2012 net production from these properties averaged 13,000 barrels of oil equivalent per day through November. The sale doesn’t include any of ConocoPhillips’ assets in the Bakken Formation, where it owns 626,000 net acres.Conoco expects the sale to add $120 million to its fourth quarter earnings. The deal is expected to close in the first quarter. MW
-The Nasdaq Composite Index COMP -0.26% slipped by 0.3% to 3,110. The Philadelphia Semiconductor Index SOX -0.49% fell by 0.5% and the Morgan Stanley High Tech 35 IndexMSH -0.29% fell 0.3%. The Dow and S&P 500 were both positive in the last hour of trading.Facebook FB -2.99% fell 2.7% to $30.11 after the social network unveiled the “graph search” function at an event at its Silicon Valley headquarters. See MarketWatch’s live blog of Facebook event.Search engine giant Google GOOG +0.09% was up fractionally, but online-review and recommendation company Yelp Inc. YELP -6.10% was seen as suffering at the hands of Facebook’s new initiative, as its shares fell more than 7% to $20.27.Apple AAPL -3.41% was last down 3%, to $487 a share. Nomura Equity Research analyst Stuart Jeffrey cut his December quarter iPhone sales estimates to 48 million from 50 million, and lowered his revenue forecast for Apple to $53 million from $54.2 million, saying that he still believes margins on the iPhone “are unsustainably high and will fall.” MW
IMO paid hatchet job by Nomura’s analyst. Definitely not their style. I would not be surprised to see him fired at some point. Margins always fall but that means increased volume. No warnings from APPL, so likely he is full of it. Those guys at APPL are not dumb. For the price AAPL should buy RIMM to take out Samsung at the low end and built it patent portfolio and duke it out with Samsung, clear IP cheat in court and lobby Washington for Tariffs due to the Won rig, which has gone on far, far too long.
-1550 Talking the Tape Up!!
The Federal Reserve should not consider halting its bond-buying effort to stimulate the economy until the unemployment rates falls to 7.25%, a voting member of the central bank told MarketWatch Tuesday.Eric Rosengren, the president of the Boston Federal Reserve Bank, said a half a percentage point decline in the jobless rate, now at 7.8%, would be enough to spark a “broader discussion” on whether it is appropriate to stop or reduce the asset purchase. MW
-Die Facebook Die!!
Facebook sheds 1.4 million active users in U.S. market
Latest data from SocialBakers suggest social-network company may be reaching a saturation point. The big London Jews are propping this stock up. It is over priced Zionist garbage imo. Friends don’t let friends use Facebook!!
-Gold. Don’t believe the garbage these gold writers, tell you. This is just the Germans firing a warning shot over Cameron’s bow to get him to tone down London’s demands on Friday. The Germans are fully in on this gold rig at the Bundesbank and wont sink DB who still needs close to 500 tonnes to cover. Some how after Merkel gets elected the Bundesbank has to gift DB with 500 tonnes, or just write off their London short of gold position. I heard that H is having a fit over this. Ha, ha. Burn England burn. I would love to see my enemies burn in the flames of their own fire .The English call it being hoisted on your own petard. Human nature delights in Justice, not revenge. Always leave revenge to the Lord. No one would love to see the London gold shorts burn in fire like me. The theft that goes on in London will even boggle the Sauds minds when they find out what their cousins have done with their gold and they have none!! The Anglomasons have their fingers in this pot big time and it is getting close to exploding in their face. I wonder how Citi and BAC feel after being suckered in to take Goldmans positions short of gold. Probably their London desks are in big time short. Hollande or Monti are in deep trouble as is Sarkozy if they are exposed here. Of course the FED and UST are in the most trouble of all after sending most all of our gold to London to ‘manage’. Ha. .ha. No wonder Geithner is getting out of Dodge and Lew the Jew from Citi was put in place. Don’t get your hopes up gold long, but where there is smoke there is fire now in Europe and London. Well there be a Cameron Bottom in gold as he is forced to gift HSBC with Englands remaining and paltry hoard to settle up German and others demands. The beauty of this thing in the mind of the imaginative is starting a run on the LBMA , which deftly punted its short of gold position to GLD and CME settlement. I would love to see a run on the BOE/FED and their Gold short minions. Ha, ha. Sweet Dreams Eurotrash!!
-Plosser’s full Speech
Same speech as the one he gave on 1/11. Nothing new here.
-NYC School Bus Drivers go on strike. New Yorkers demand limos for their kids and the rest of us pay for them. (actually only a few wall street moms like stephanie rude are demanding this on twitter), as the Jew Bloomberg puts the squeeze on near minimum wage bus drivers in a rouge attempt to break their union. Get up Early, walk your kid to school or give him a knife and let him fight it out himself in ‘gun free’ NYC. Like the kids in East LA get bus drivers, what a joke. They walk!! I have a reader who ‘fought’ his way to school every morning in East LA. NYer are pussies as wells as crybaby actors.
-Another Jew talking to a Jew Interview coming up!!
Intrigued to talk with a former #NRA member who now leads a fight against military weapons on American streets. Tonight on #Amanpour@CNNi
-Nationalists sue troika for crimes against humanity
-Rajoy rules out asking for aid in FT interview tells Germany to do more for growth
-USA Dictator to surround himself with Children During Gun Grab Executive Order
Pathetic pile of dung!!! Yet American women and the feminine Dad’s they married, ‘demand it’. All based upon an event that might be purely a myth.
-Jew Roubini Estatic as his infamy rises like Soros from pure piles of fecal matter
Too bad, a pair of horns and Rothschilds star are not added to his head for honesty in Times Square billboards.
J’ai réaffirmé que la Tunisie a tout le soutien de l’Union européenne dans le processus de transition démocratique.
At least most often the Euro clowns wait until after their markets close to speak. Ha, ha, the place is in a virtual civil war. What a lie. Tunisia is a gorgeous place. Lots of French go there for vacation as it is so cheap. That is why Von Rompuy means by democratic Transitions. Its also has a lot of minerals, and actually some good ground for oil exploration and load of cheap Citrus and pot/hash. It is a growers paradise.
-Silver lake in advanced discussions with Dell
Make a down of money naked shorting the stock down to a PE of 4. Then buy it out with debt at the lowest possible price and reward the sellout CEO when the stock is refloated. Make sure to pass a few shekles on to the press which beat the stock up despite some good acquisitions and result. Silvergate did this in Seagate, a few years back in what I called the shareholder rip off deal of the Century.
http://www.reuters.com/article/2013/01/15/us-dell-deal-idUSBRE90E0XK20130115
German FinMin Schaeuble: Russia Must Join In Cyprus Aid
Ha,ha, Germans tossed in towel or are invading Russia through the back door this time.
-Jews at Tesco caught selling horse meat as hamburger in UK- BBC. lol.
The Jews are specifically instructed to not do business with gentiles. Why would you shop at Walmart or Tesco? Does not make sense to this dumb human cattle. I would rather be dead than eat a horse or a dog. But at Tesco that is the daily special. Such crooks these guys that run Tesco, so, so, so slimy.
-Nanex uncorks some righteous anger at illegal HFT trading manipulation of AGU
http://www.nanex.net/aqck2/4074.html
-Reaping the profits of weather Engineering in NYC and NJ!!
House advances $50 billion Sandy relief package http://j.mp/VgDot5
There are major food fight breaking out over this ‘gift’ from the rest of us to the Jewish developers in NJ and NYC. I urge you to contact your congressman and say no to this wasteful spending to the richest people in the USA from the poorest. NY and NJ are plenty wealthy states and stiff California on its Earthquake relief. We can’t just continue to allow the government to print money for Jewish developers imo. Private Charity should pick up the slack. I would volunteer to rebuild a home. I can always do the ZGR from the work site. Our government robs us at a point of a gun from doing the right thing. The poor blacks and Irish will be pushed out and the wealthy Jew will get free homes. That is the way it works in NYC and Jersey. Ex in Jersey the WASP crowd has its fingers in the developers pie as well as the Jews. Study what happened after New Orleans and who benefited and it was not any of the people who lost homes but the developers and City/government class.
-Fitch Analyst: UK Downgrade Risk On The Rise-efx
-EU’s Juncker says EUR exchange rate is dangerously high
EUR/USD moved 27 pips to the downside in immediate reaction to this comment to 1.3311 from 1.3338. He’s acting head Finmin for the EU and typically they are not supposed to comment on currency rates. From efx. I guess this means Regling and GS have to stop squeezing the shorts now like me. This is known as having your cake and eating it too in European parlance. Given the dire situation in Spain which BBN finally breached with their not covered by anyone article, , the Euro dollar madness is truly nuts especially with Iran saying they would dump both the Euro and Dollars yesterday that we covered in some depth. Wait until the real Muslims come out of the wood work in France and blow a Jewish temple or Catholic Church of the Bank of Franc to all hell.. That will be good for the Euro too!!! These Euro bulls are even more delusional than the UST and JGB buyers imo.
-Lend Money to bankers at few hundred BIPs, allow them to charge 25 pc interest rate on credit cards and you would look like a hero too!!
The Treasury Department on Tuesday announced it would stop providing credit guarantees to the Federal Reserve for a crisis-era lending program that at its height lent $71 billion to encourage auto, student and credit-cardloans. The Treasury backing for the Term Asset-Backed Securities Loan Facilities, or TALF, isn’t needed anymore because the accumulated fees of $743 million exceed the amount of TALF loans outstanding, which stood at $556 million as of Jan. 9. Borrowers have continued to repay their loans early at a rapid pace, in part because interest rates on TALF loans were designed to be higher than market rates in more-normal conditions, the Fed said. All remaining loans are well collateralized and current in payments of interest and principal, the Fed added. The Treasury added its investment in the program has now been repaid in full with interest. MW
-Facebook grafts Bing into a FB specific search engine, who..cares? Okay the CIA/MI6/Mossad..lol!!
-Jew Weidner justifies Murder /Death of Jew Swartz
These were not privately funded research but research that had been paid for with public funds that were being kept from the masses by outrageous library fees and article look up fees, that maybe before the days of the internet had some cost justification but which were increasingly used to lock the public out from reading key and important to England research on life extension and other key technologies. So Weidner is a bold faced liar. The rebels without a cause are the new media, Attorney General holder and his posse of Justus crooked AGs, and MIT university, especially as he returned the database. Amazing the propaganda these Jews write and expect us to believe, from Sandy Hook to Swartz. The internet runs off of Java. Trying turning that off. RSS feeds are mainly for the , for profit media crowd and Reddit is for strange people who have too much time. The ZGR was censored by RSS and Reddit. Still Swartz was a loyal trooper for the Zionist at Wikipedia, where his gang banned me for life especially as I falsified so much of the bogus science and history for life. Articles like this incline to think he was murdered and did not suicide and probably was in possession of some research papers on market rigging (which MIT is notorious for producing), weapons( also a big deal at MI5), cyber security and code breaking (also big there) and life extension/genetics. This is like killing someone or sending them to jail for 20 years for being late in returning some library book. The Jew think we should not look at the Jewish mob’s involvement, (aka NYC/London/Washington DC/Tel Aviv), but it is key to understanding the truth. Could be another Jewish religious killing. Look at the Pslams, 3/4 scriptures are bloody calls for revenge. Ex these days you’re revenged for good deed and the truth. Jews, we talk about em a lot at the ZGR as they have so, so much financial and demonic power behind their Talmudic religion and at the bottom of every other big pile, ‘thar’ they be like Moby Dick. Academics don’t get paid and most often have to pay a $1000 dollar fee or more to have their articles reviewed and published meaning the often Anglo-Jewish owned science rags make the real money as you might have to pay $50 dollars to read the article on line. I’ve paid plenty over the years.
-APPL Stopped me out and I repurchased at $485 or so and used a bit of margin in the options department. This looks like the mother of all shake outs ahead of a record earnings and revenue quarter. This article encouraged me as a trader to wade into the City of London short sell of APPL. English traders were the big naked shorts out of London. Most of the rumors and lies could be traced to City of London hedgies and banksters.
- SAP’s preliminary look at its Q4 results disappointed investors this morning, with both earnings and revenue well below consensus. Analysts suggested that the unfavorable comparison with Oracle’s excellent Q4 results, announced back on Dec 18th, are exacerbating SAP’s decline this morning. SAP’s ADRs are down 5% in the morning session.
- Dell is up 2% after rocketing up approx 15% yesterday afternoon on unconfirmed reports the company was holding talks with at least two PE firms to go private. Dell has not commented on the rumors.
- Krispy Kreme has adopted a poison pill (no not eating their diabetes inducing and death inducing donuts). The Plan is designed to discourage any person from becoming a 5% shareholder. Shares had risen yesterday on takeover chatter, and have given up most of those gains this morning.
- Express, the rag peddler, is up nearly 20% after hiking its Q4 and FY12 earnings guidance.
-Economic Release Summary, USA trading Session
(EU) OECD Q3 GDP +0.3% v +0.2% prior
(BR) Brazil Nov Retail Sales M/M:0.3% v 0.2%e; Y/Y: 8.4% v 8.3%e; Broad Retail Sales Y/Y: 7.2% v 5.9%e
(IC) Iceland Dec Unemployment Rate: 5.7% v 5.4% prior
(US) ICSC/GS weekly chain store sales w/e Jan 13th w/w: -0.6%; y/y: +3.3%
(PL) Poland Dec CPI M/M: 0.1% v 0.1%e; Y/Y: 2.4% v 2.5%e.
(US) Jan Empire Manufacturing: -7.8 v 0.0e
(US) Dec Advance Retail Sales:0.5 % v 0.2%e; Retail Sales Less Autos: 0.3% v 0.2%e; Retail Sales Ex Auto & Gas: 0.6% v 0.4%e
(US) Dec Producer Price Index M/M: -0.2% v -0.1%e; Y/Y: 1.3% v 1.4%e
(US) Dec PPI Ex Food & Energy M/M: 0.1% v 0.2%e; Y/Y: 2.0% v 2.1%e
(US) Redbook Retail Sales w/e Jan 13th: +1.9% y/y prior; Jan MTD: -0.3% m/m prior, Jan MTD: +2.0% y/y prior
(CA) Canada Dec Existing Home Sale M/M: -0.5% v -1.7% prior
(BE) Belgium Nov Trade Balance: -€0.8B v -€0.3B prior
(EU) ECB weekly Forex Reserves w/e Jan 13th: €218.4B v €218.8B prior
(US) Nov Business Inventories: 0.3% v 0.3%e
-FB releases big surprise to big Jew Bloomberg..
FLASH: Facebook announces tool to search social network; shows places, including restaurants | http://bloom.bg/11xjM8d
-GM IS NOW CHINA MOTORS
Must watch!!! Thanks to the reader who sent me this.
http://www.youtube.com/watch_popup?v=Lvl5Gan69Wo
Call you Senator, demand a 100 pc tariff on any GM car imported from China to the USA. Thanks.
-Thanks to the reader who sent me this..
-MARKETS – AT A GLANCE
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-Europe Close
The real news out of Europe last night was all about Germany, Germany, and Germany. The Bundesbank no doubt under pressure to close out its paper shorts, loans and options is going to provide a plan tomorrow to repatriate their gold, which ignited a fire in the gold pits in the USA as word spread. Germany’s 2012 GDP is a paltry 0.7% Y/Y; Q4 GDP is seen as -0.5%. Germany is said to cut 2013 GDP official growth to 0.4-0.5% from +1.0%(current official view) in the coming days. The bloom is off the German rose and German high level politicians are debating if they can afford the Greek millstone much longer. China and the USA deficits may or may not have saved Germany from a recession. I suspect not as Spain will probably unravel or Greece sometime in Q2 no matter what the guys in Brussels or Frankfurt say.
Clearly the Bundesbank green-lighted more inflation through the ECB/ESM and their lackey agents GS running the Spanish and Italian bond markets. Today felt like a short term peak in the Italian and Spanish 10 years to me. When GS is pumping you know they are dumping is the most often the correct trader’s motto. Greek bill auctions can best be described as German charity affairs. The only positive movement is that mining and oil developments in Greece are finally starting to move forward, although with a lot of rioting in Greece. Clearly the Greeks really don’t want real jobs. The NYT had a good article that got wiped out by last nights attack on the website on EGO’s new project.
Things must be really desperate for the English as they are sending the Trashy Prince Andrew family to Germany to promote their ugly clothes and automobiles. Cameron is going to make his ‘Europe do it our way’ Speech on Friday, telling the rest of Europe how London raping and pillaging them and giving tax dodges to Greek Jewish shipping billionaires and Russian Jewish Oilygarchs is just the way it will be. The English minority government said it was lawful to fire Christian over wearing a cross to work, despite the Courts saying it was not lawful. The Deputy Prime Minister of England said that the “arcane debate” over the EU will have a “chilling effect” on jobs and growth. Mr Clegg called on Mr Cameron to “be very careful” in his remarks and warned that a long period of uncertainty over the UK’s future relationship with Europe would “chase away” investment. The real Prime Minister’s official spokesman defended Cameron’s policy of attempting to take back powers from Brussels to Britain which he will set out in a speech in Amsterdam on Friday.In a regular briefing for journalists in Westminster, the spokesman insisted that the debate over the future of Europe was “already under way”. Showing you how cheap the English are, their cops are looking at having their first year salaries cut by a staggering 4k pounds to only 19k pounds a year, or $30,000 a year. At the one year mark, by contrast the lowest paid NYPD officer makes $50,000 dollars a year. Granted English cops are even more worthless and cowardly than the average NYPD fat man, but still all this low pay for the police only leads to graft and corruption. The police that work in the City of London are much higher paid of course. Senior police officers there are paid up over $300k dollars a year. England is one of the most unsafe countries in the Western world when it comes to having your pocket picked, being held up or beaten up or knifed. You get a hand slap for knifing someone in England even if they die but use a gun you may get 10 years for murdering your marks.
Meanwhile under the murderous Jew, Hollande (he says he is not a Zionist) that runs and ruins France for the Rothschilds , bombs Mali goat herders, children and Islamic insurgents with borrowed from the USA bombs and bombs the English mooched from the USA. Recall France and England ran out of expensive bombs in their Libya oil raid as well and demanded the USA supply them which we did to the tune of nearly 500 million dollars in ‘free’ bombs. Being a former and still sort of French Colony, those insurgents in Mali are the real thing and not put -ups and will put up one heck of a bloody fight, which is all over the recent big oil strikes, and big gold, copper and uranium deposits that were surveyed decades ago and which are now needed by London/Paris. Mali has to be the most diseased ridden country in Africa, the French won’t last long before they call for the USA marines to do their fighting especially as Mali is precursor of the heats of hell in Summer. Mali is the only African country I’ve visited where I can’t say one good thing about it, ex their oil potential is outstanding. The English and Israelis have a big history in fomenting the present instability in Mali, which I should cover in some depth. The USA Pentagon and CIA probably need a map to find it. Yet the Europeans will send us their war bills and blame us all for their bloody Middle Eastern /African oil wars and demand our special forces man up for them as they start to melt in the May heat.
Fiat/Chrysler CEO said of the future European Car manufacturing : “Ultimately, this whole thing will unravel..If there are no cars to be bought, you can’t make cars. You don’t need to go to Harvard Business School to figure this out.” With sales forecast to decline for a sixth year in 2013, most experts believe that the industry needs to embark on significant retrenchment to better match the weakened state of demand from drivers. “I’ve been an advocate of European intervention in the sector which allows an equitable distribution of the reductions over the countries,” Mr Marchionne said at the Detroit Car Show today. Meanwhile he plans to make Jeeps in China and Toyota decided since Americans were mainly buying the Prius to move production to North America.
Europeans continue to be the most brain-dead people on the face of the planet as they demand more socialism and look to put in office known communists even as this is what and who, put them in their present mess. A lot of other gabbing went on last night in Europe that is simply a waste of time to cover. Europeans are long on talk and short on work and don’t mind torturing the markets for a decade while they decide if they want to work more or continue to send Americans their war bills and demand technology for free from them. Europe is just one big clip joint especially at 1.33 /$. It will be worth a trip when the Euro and pound are at parity with the dollar. At least the CEO of Fiat/Chrysler gets how screwed up Europe is. He is one of the few CEO’s I think you can bank on in Europe do to the right thing for his shareholders. Europe will break this year and deserves to with all their banking scams and crimes, mainly out of London, but the Greeks are no slouches or the Spanish either or the very, very corrupt French and Belgian bankers.
German 10y 1.51-0.04, 2.83%
Italy 10y 4.17+0.02, -0.40%
Spain 10y 5.01-0.01, 0.30%
U.K. 10y 2.02-0.01, 0.72 %
| Country: Index | Last | Change | % Chg |
| Europe Dow | 1729.10 | -5.84 | -0.34 |
| Stoxx Europe 50 | 2632.32 | -2.63 | -0.10 |
| Stoxx Europe 600 | 285.79 | -0.22 | -0.08 |
| Euro Stoxx 50 | 2700.71 | -14.45 | -0.53 |
| Euro Stoxx | 267.21 | -0.85 | -0.32 |
| Austria: ATX Index | 2449.26 | -10.42 | -0.42 |
| Belgium: Bel-20 | 2496.98 | 5.60 | 0.22 |
| Denmark: OMX Copenhagen 20* | 526.43 | 4.33 | 0.83 |
| Estonia: OMX Tallinn* | 763.57 | -11.57 | -1.49 |
| Finland: OMX Helsinki* | 6032.77 | -30.58 | -0.50 |
| France: CAC 40* | 3696.08 | -12.17 | -0.33 |
| Germany: DAX* | 7669.38 | -60.14 | -0.78 |
| Greece: Athens General* | 951.05 | -17.24 | -1.78 |
| Greece: DJ Greece TSM* | 724.72 | -13.60 | -1.84 |
| Greece: FTSE/ATHEX 20* | 322.41 | -6.09 | -1.85 |
| Iceland: OMX Iceland All-Share* | 734.51 | 0.57 | 0.08 |
| Ireland: ISEQ Overall * | 3447.99 | -16.00 | -0.46 |
| Italy: FTSE MIB | 17467.48 | 76.24 | 0.44 |
| Latvia: OMX Riga* | 404.64 | -1.96 | -0.48 |
| Lithuania: OMX Vilnius* | 367.57 | -1.95 | -0.53 |
| Netherlands: AEX* | 347.58 | 0.24 | 0.07 |
| Norway: OSE All-Share* | 507.42 | -0.51 | -0.10 |
| Portugal: PSI 20 | 6116.88 | -43.66 | -0.71 |
| Russia: DJ Russia Titans* | 6493.18 | -45.07 | -0.69 |
| Spain: IBEX 35* | 8600.20 | -31.90 | -0.37 |
| Sweden: OMX Stockholm* | 351.55 | -1.17 | -0.33 |
| Switzerland: Swiss Market* | 7272.31 | 69.79 | 0.97 |
| UK: FTSE 100* | 6108.65 | 0.79 | 0.01 |
| UK: FTSE 250* | 12770.02 | 10.88 | 0.09 |
| UK: FTSE AIM All-Share* | 734.39 | -1.25 | -0.17 |
- @PIMCO
Gross: Report claims Germany moving gold from NY/Paris back to Frankfurt. Central banks don’t trust each other?
http://www.veteranstoday.com/2013/01/14/how-the-sandy-hook-massacre-went-down/
Scorn on all the people from Sandy Hook and Newton, ex Lanza and his mother who probably were killed. The rest appears to be a big, big hoax put on by carefully chosen Anglomasons and Zionist actors. More NYC/Media garbage. NY took the ‘payoff’ of 5 million each rather than out 911 as inside Job. The NYers living in Sandy Hook are worse as probably none of those kids were killed ex Lanza. If any were killed, shame on the parents for not outing the governments role and standing up, especially the cowardly men of Sandy Hook and Newtown and the evil fathers who sent their kids to such and evil school and lived in such an evil town. Scorn on the Connecticut state police and Newton Police and School superintendent, scorn on Bloomberg, Schumer, Cuomo, Boxer and Feinstein and Lieberman and all the other east coast hoaxers. Hate hoaxes by the Anglo-Zionist cult that runs Newton. Note Boxer and Feinstein are east coast carpe- baggers sent out to pillage and control California by the Harvard/Yale elites of Wall Street.Ditto with Nancy Pelosi who is from Baltimore. Pelosi, Boxer, Feinstein, all Zionist Jews all with Wall Street/NYC hedge fund manager husbands and all gun grabbers and false flaggers. Piss on all the NYers who took 911 blood money from the state and the rest of us. If China nuked NYC or London the rest of the USA would probably cheer as long as they got Washington as well. What utterly perverse leaders the USA has to think they can continue to get away with these false flags. Completely delusional. NYC lives the high life while the rest of the USA that does the work is starved for the gun grabbing, false flagging parasites that run that clip joint known as Wall Street. Wall Streeters are degenerate people, and all these false flags they pull are proof of it. Connecticut is just a suburb of Wall Street and NYC if you’ve ever been fortunate to not have to visit NY. I call for a nation wide boycott of NY and NYC and Connecticut for this cruel false flag all of them are carrying out. Shame on all you people from NYC, the rest of us are as sick of you as the Las Vegas, London and Hollywood crowd. If you’re a father and your kid did actually die in Sandy Hook, you’re to blame. Enjoy your pay off and blood money like Judas did for a few moments.
-Many U.S. My Lai-Type Massacres in Vietnam Covered Up by Pentagon, Reporter Charges
This is news? All you had to do to talk to any USA Army Ranger who did more than one tour. Those guys were the killing, and terror machines. Illegal search, and destroy, basically terrorist missions went on nightly under direction of the CIA and Kissinger. It was common practice to burn down villages supporting the VC at night and shoot anything that came running out. The VC were brutal terrorist as well to non -VC controlled villages. WW2 and WW2 were nothing compared to the brutal fighting in Vietnam. Fighting in Korea was on par with what went on in Vietnam although civilians were not slaughtered wholesale in Vietnam.
-Tide Turns on Gifting Chinacoms and Korean with ‘free’ wealth as Walmart says to buy more made in USA
Wal-Mart Stores Inc. WMT +0.06% plans to offer jobs to veterans in their first 12 months off active duty and boost domestic sourcing of products by $50 billion over the next 10 years.The retail giant said its employment offer–available to any honorably discharged veteran–will begin Memorial Day. Most of the jobs will be in Wal-Mart stores and clubs, and some will be in distribution centers and the Home Office.”Hiring a veteran can be one of the best business decisions you make,” Wal-Mart U.S. Chief Executive Bill Simon said, noting that “veterans have a record of performance under pressure” and that Wal-Mart is already the largest private employer of this group in the U.S.He added that the company projects it will hire more than 100,000 veterans during the next five years. Wal-Mart has spoken with the White House about its commitment and the retailer said Michelle Obama’s team has expressed an interest in working with it and with other businesses on the matter.Wal-Mart also said it will take a two-pronged approach to boosting sourcing in the U.S.: increasing what it already buys domestically in categories like sporting goods, apparel basics, storage products, games, and paper products, and helping to onshore U.S. production in high-potential areas like textiles, furniture and higher-end appliances.”At the heart of our national political conversation today is one issue: creating jobs to grow the economy,” Mr. Simon said. “We are meeting with our suppliers on domestic manufacturing and are making a strong commitment to move this forward.”Wal-Mart cited data from its suppliers, showing items that are made sourced or grown in the U.S. account for about two-thirds of what the company spends to buy products at Wal-Mart U.S. It added that it sees room to do more and has created a senior team within the company to lead the effort and it will sign longer term purchase agreements to give suppliers more certainty.Shares edged down 10 cents to $68.20 in recent light premarket trading. The stock has risen 15% in the past 12 months. MW
Let’s see, after WW2 and the Korean war my father was discharged from the USA military and came back to a job that paid $300,000 a year in today’s money as research scientist and mom could stay home, and he paid his house off in a few years and paid cash for a new car every other year. Today’s vet gets shot up with toxic vaccines, doused with depleted uranium and gets an 8 dollar an hour job with no health care from the Crown owned firm of Walmart. What a deal. I used to hire all the Vets, some crazy, after Vietnam. We paid them $50k a year in today’s money, more if they had skills as a mechanic or electrician. $8 hr is around $16k dollars a year. Slave to the USA army, slave to Walmart and slave to debt.
-Germany’s Handeslblatt newspaper said Monday night that the Bundesbank has developed a new strategy that involves fewer gold bars flung afar. It seems the original reason for holding its gold at the New York Federal Reserve and other central banks — in places for decades as a measure of security — no longer holds up. The central bank’s press office said a news conference is planned for Wednesday morning, and the topic will be gold reserves.
Good luck in getting your gold back other than in the next five years.
-How incompetent are the English. They shut down a major train line for 1 inch of snow. The English might as well admit they are worthless and let the Germans run their country. Austrians should run Europe but due to English murder in 2 world wars they started, we are too rare. The Germans resent our refinement and culture as do the money grubbing Swiss. We would kick the Goldman Sachs men out of power, and clamp down on London and the English in short order and arrest all the Rothschilds and try them for conspiracy. The Rothschilds stay up at night worrying about Austrians and Russians quite a bit as does the English crown.
-U.S. November Business Inventories Rise 0.3%; Sales Climb 1%.
-This is the longest Frost/Freeze Cycle I can ever recall. Expensive to manage but at least it is manageable. More ice on the pond this morning. Global warming hoax as even LA got snow on the Grapevine a couple of days back.
- Research In Motion Ltd. was upgraded to a buy rating from underperform by Charter Equity on Tuesday morning. In a note to clients, analyst Ed Snyder said the “curb appeal” of the new BlackBerry 10 operating system expected to launch in the coming weeks “could help investors look past Network pricing issues.” He cited his “preliminary review” of the new operating system, adding that with “a compelling user interface, 70K applications and RIM’s hallmark QWERTY keyboard included in the SKU line-up, we believe the BB10 platform will appeal to a healthy percentage of the company’s 80K subscribers, driving an upgrade cycle.” RIM shares were last trading down 4.2% at $14.30 after having jumped more than 10% in the previous session.
-Aaron Swartz’s Suspicious Death
http://www.veteranstoday.com/2013/01/15/aaron-swartzs-suspicious-death/
Aaron suffered from Depression, unlike Jobs and was smart enough, especially as a Jew to recognize the people who were targeting him. If the Mossad/CIA/MI6 did not murder him, they tied the noose and put it around his neck. Jobs was denied the cure for Cancer, was on the road to recovery organically and likely his Doctors or someone close to him re-injected him with the cancer virus they originally injected him with. Jobs as a life long health fanatic and vegetarian had little to fear from cancer, ex from the medical mob he was directly taking on as frauds. The illuminati married him off to an Anglosaxon Blueblood and Jobs weakened and took the ‘establishment’ cure of chemo/rad which is death. The illuminati is ruthless to defectors as we saw as Prince Andrew ordered Al Quaddafi murdered. Eric Holder is literally criminally insane like Winston Churchill and Hitler. I guess I never understood ‘reddit’ or RSS even but they were popular with the masses. Twitter, and Youtube and to a lesser extent Facebook were the winners. The mercy of God is great towards those who love the truth so may he rest in eternal peace. MIT should be ashamed of itself. Eric Holder should be tried for accessory to murder. Prince Charles and Andrew should be investigated as should Bibi , another MIT grad for their role in ordering or executing this death.
-MARKETS – AT A GLANCE
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-European Credit Markets
The bond rally that has sent Spanish borrowing costs to 10-month lows has distracted attention from the nation’s growing debt pile.Spain’s budget deficit probably exceeded 9 percent for a fourth year in 2012 as Europe’s highest unemployment rate, a third recession in four years and the cost of bailing out its banks offset almost all of the government’s 62 billion euros ($83 billion) of spending cuts and tax increases, according to economists at Societe Generale SA (GLE), Lombard Street Research and the Madrid-based Applied Economic Research Foundation. Total debt will reach 97 percent of gross domestic product this year, the International Monetary Fund forecasts.“This is a classic example of the doom loop,” Societe Generale’s London-based chief European economist, James Nixon, said in a Jan. 10 telephone interview. “They just aren’t making any progress.”The last time Spanish debt was trading at this level, with 10-year yields around 5 percent, was early March 2012 after European Central Bank President Mario Draghi flooded the banking system with more than a trillion euros. Spanish Prime Minister Mariano Rajoy shattered that calm when he surprised European leaders March 2 by rejecting the country’s deficit target just hours after signing a treaty on budget discipline.“It’s very difficult to have promised at home and abroad a deficit of 6 percent and to end up recognizing that you have almost 9 percent,” Deputy Prime Minister Soraya Saenz de Santamaria said today, referring to the 2011 budget figures delivered by the previous Socialist administration. Rajoy pledged to deliver a deficit of 6.3 percent for 2012. BBN (link to full story in newslink section).
Today’s Key Credit Auctions in Europe
(IT) Italy Debt Agency (Tesoro) opened book sale of 15-year syndicated BTP bond; guidance seen +35bps over 4.5% Mar 2026 BTP
(ES) Spain Debt Agency (Tesoro) sold total € 5.81Bvs. €4.5-5.5B indicated range in 12-Month and 18-Month Bills (Dec 11th). Sold €3.25B in 12-month Bills; Avg Yield: 1.472% v 2.556% prior; Bid-to-cover: 2.21x v 2.46x prior; Max Yield 1.520% v 2.650% prior; Tail: 4.8bps v 9.4bps prior . Sold €2.51B in 18-month Bills; Avg Yield 1.687% v 2.778% prior; Bid-to-cover: 2.71x v 2.70x prior; Max Yield 1.790% v 2.888% prior; Tail: 10.3bps v 11.0bps prior
(GR) Greece Debt Agency (PDMA) sold €1.625B €1.25B in 13-week Bills; Avg Yield 4.07% v 4.11% prior; Bid-to-cover: 1.75x v 1.73x prior (Dec 18th)
(BE) Belgium Debt Agency sold total €3.17B vs. €3.0-3.5B indicated range in 3-month and 12 Bills. Sold €1.65B in 3-month Bills; Avg Yield 0.012% v -0.006% prior; Bid-to-cover: 2.34x v 2.65x prior. Sold €1.521B in 12-month Bills; Avg yield 0..11% v -0.0039% prior; Bid-to-cover: 2.06x v 2.84x prior
(CH) Switzerland sold CHF998M in 3-Month Bills; Avg Yield -0.099% v -0.210% prior
(EU) ECB allotted €131.2B vs. €78Be in 7-day Main Refi Operation at fixed 0.75% . ECB allotted €10.5B vs. €15.0Be in 1-month Tender at fixed 0.75%
-USA Markets
 U.S. STOCKS | See all U.S. Stocks Data10:59 a.m. EST 01/15/13Major Indexes(Roll over for charts)
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9:52 am EST 01/15/13Most Active Stocks
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-International Markets
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CURRENCIES 10:05 a.m. EST 01/15/13Major Currencies
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-Montage of Detroit Auto show
http://www.bloomberg.com/slideshow/2013-01-14/2013-detroit-auto-show.html#slide17
- Deutsche Post: 2013 will “not be easy” as a weak global economy weighs on demand for express delivery and other logistics services.
-932 Major Indexes
APPL 496. I dipped my toe and brought some more. Just day/weekly trading vehicle. Sort of old news the shorts are trying to make hay upon in APPL. Markets not responding positively to the blow hard German/Europeans, factories shutting in China, USA debt rhetoric, and less than stellar outlooks. Retail sales, boosted by high inflation were a plus in December.
| Last | Change | % Chg | |
| DJIA | 13447.49 | -59.83 | -0.44 |
| Nasdaq | 3100.59 | -16.92 | -0.54 |
| S&P 500 | 1464.19 | -6.49 | -0.44 |
| DJ Total Stock Market | 15260.57 | -65.32 | -0.43 |
-930 MARKETS – AT A GLANCE
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-BBN, Top 10, netflix, highest since april; rimm, blackberry on comeback; forest labs, sell; coach, highest since september (over priced handbags); burburry (english made in china crap), plus; lulumon (yoga pants), slowing; herbalife (zionist short sale), up 10 pc against zionist short cartel; RBS, executive shake up and 800 million dollar libor; Dell private equity deal, facebook (number 1), might enter smart phone wars.
-Housing Bubble trying to reflate (in stocks it already has)
Lennar delivered 4,443 homes, up 32 percent, in the fourth quarter, while the average selling price of the homes delivered rose 7 percent to $261,000.Miami-based Lennar’s operating margin on home sales was 12.2 percent, up 660 basis points, due to an increase in selling prices and fewer buyer incentives.CEO Miller said Lennar was “extremely well positioned” to gain market share in 2013 and that the company expects to be strongly profitable.Net income rose to $124.3 million, or 56 cents per share, in the fourth quarter, from $30.3 million, or 16 cents per share, a year earlier. Revenue rose 42 percent to $1.3 billion.Analysts were expecting earnings of 44 cents per share on revenue of $1.31 billion, according to Thomson Reuters I/B/E/S. Orders rose 32 percent to 3,983 homes, while its backlog at the end of the quarter was worth $1.2 billion. Lennar’s stock, which doubled in value in 2012 and is trading at levels last seen in 2007, was off 2 percent in premarket trading despite the earnings beat.
-I update the newslinks. I have more stories to add. Behind thanks to the British-Israel, hacker cult again today.
-Okay: it is time to turn the mute button off BBN and see what Lucy Liu er.. Betty Liu has to say.
-It is crucial that progress is made towards a single regulatory framework for banks in the 27-nation European Union, European Commission President Jose Manuel Barroso said in a statement Tuesday.”Following the adoption of the Single Supervisory Mechanism, the Commission will make a formal legislative proposal for a single resolution mechanism in the banking sector before the summer,” Mr. Barroso said in a statement. “I consider this a matter of utmost political priority.”He added that “those speculating against the euro (the ZGR) have underestimated the political capital that is invested in it.” The single supervisory mechanism is the provisional term for the mechanism through which the European Central Bank will assume responsibility for credit institutions in the EU. MW
What a blowhard. Only the ESM and GS running it is holding this tourist clip joint together. Meanwhile some unnamed high level German pol, fantasizes about giving the slimy Greeks the boot. Actually if that happened, after the carnage I would buy the Euro. The Greeks have made financial crime a virtue of the EU and made a mockery of the entire unworkable political structure. Either the Germans have to debase the Euro, greatly or kick the Greeks out permanently and force Spain out temporarily. The massive Bond rallies have been the work of the Central Bank and its acolytes at Goldman Sachs and piggy backers at PIMCO. Great call by Bill Gross at PIMCO to tout this rally a few days before it happened.
-The Federal Reserve’s monetary policy is currently not loose enough, said Narayana Kocherlakota, the president of the Minneapolis Federal Reserve Bank, on Tuesday before markets opened. In a speech to the Financial Planning Association of Minnesota, Kocherlakota said the Fed should ease policy by telling financial markets that it won’t lift off the easy policy setting until the unemployment rate falls to 5.5%. At its December meeting, the Fed told markets that it would likely hold short-term interest rates close to zero unless inflation forecasts spike. If the public believes the Fed will not begin raising the federal funds rate until the unemployment rate falls to 5.5%, they will spend more and save less, he said. Kocherlakota said the Fed’s forward guidance has a strong protection against undue inflation because if the inflation outlook ever rose above 2.5% then a commitment to low short-term interest rates is off the table.
-846 Europe After Data Release
We finally got a pay day on shorting the DAX. The German econometric data made the Berlin and Brussels crowd look like they were all hot air. No wonder Schauble was fantasizing about kicking the worthless Greeks outs. Greece is the 2oo kg, fat man trying to get into the full life boat. Can you imagine a Sr. German lawmaker/politicians fantasizing anonymously about giving the Greeks the boots. Probably afraid of all the knives the Greeks carry.
| Stoxx Europe 600 | 285.03 | -0.98 | -0.34 |
| Belgium: Bel-20 | 2490.07 | -1.31 | -0.05 |
| France: CAC 40 | 3691.28 | -16.97 | -0.46 |
| Germany: DAX | 7641.59 | -87.93 | -1.14 |
| Italy: FTSE MIB | 17331.86 | -59.38 | -0.34 |
| Sweden: OMX Stockholm | 351.13 | -1.60 | -0.45 |
| UK: FTSE 100 | 6096.58 | -11.28 | -0.18 |
-USA Futures Post Data Release
U.S. stock futures declined, after the Standard & Poor’s 500 Index surged to a five-year high last week, as concern about talks to raise the government’s debt ceiling outweighed investor optimistic outlooks over corporate earnings .S&P 500 futures expiring in March retreated 0.4 percent to 1,458.5 at 8:07 a.m. in New York. Contracts on the Dow Jones Industrial Average slipped 43 points, or 0.3 percent, to 13,390 today. Lululemon Athletica Inc. (LULU) dropped 6.4 percent after projecting fourth-quarter sales that trailed analysts’ estimates. Lennar Corp. (LEN) slid 1.6 percent after saying revenue dropped at its Rialto Investments unit. Dell Inc. (DELL) climbed 4.5 percent after a person familiar with the matter said the company may announce a deal as early as this week to go private.The S&P 500 slipped 0.1 percent yesterday as a slump in Apple Inc. offset a rally in Dell. The equity benchmark reached the highest level since December 2007 last week as U.S. lawmakers agreed on a compromise budget and companies reported earnings that beat analyst estimates. Obama said yesterday he won’t bargain with Republicans over raising the government’s debt ceiling and called for separate discussions on spending cuts to narrow the deficit: “What I will not do is to have that negotiation with a gun at the head of the American people,” he said at a White House news conference.
-U.S. retail sales rose a seasonally adjusted 0.5% in December. The increase in sales was the highest since September. Excluding autos, retail sales 0.3%, according to Commerce Department data released Tuesday. Economists expected retail sales to increase by 0.2% overall and by 0.2% minus autos. Sales were also revised slightly higher for November and October. In the last month of 2012, auto sales led the way with a 1.6% increase. Sales also rose 1.4% for home-furnishing stores, 1.2% for bars and restaurants, 1.0% for apparel outlets and 0.5% for nonstore retailers such as Internet shopping giant Amazon. Sales fell 1.6% at gas stations as fuel prices retreated for a third straight month. Sales also declined 0.6% at stores that sell electronics and appliances. In November, retail sales were revised up to a 0.4% gain from 0.3% as originally reported. The decline in sales in October – partly an effect of Hurricane Sandy – was revised up to -0.2% from -0.3%. In 2012, retail sales rose an unadjusted 5.2%, down from 7.9% in 2011 but similar to the 5.6% increase reported for 2010. Most of the growth in retail sales has been from understated inflation, and inflationary price increases.
-U.S. producer prices fell a seasonally adjusted 0.2% in December, led by lower food prices, the U.S. Department of Labor reported Tuesday. Core producer prices, (except food and energy), rose 0.1% last month. Economists had predicted that overall producer prices would decline 0.1% in December, while core prices rose 0.1%. Food producer prices fell 0.9% in December — the largest decline since May 2011 — after a 1.3% gain in the prior month that was due, in part, to a severe and on going drought. Energy prices fell 0.3% in December, led lower by gasoline. For 2012, wholesale prices increased 1.3%, the smallest growth in a calendar year since 2008, claimed the Feds.
-The Empire State manufacturing index contracted for the sixth month in a row, the New York Federal Reserve Bank said Tuesday. The index fell to negative 7.8 in January from a revised negative 7.3 in December, originally reported as negative 8.1. Economists polled by MarketWatch expected the index to stay in negative territory at negative 2.8 in January. Details of the report were also disappointing. The key new orders sub-index fell to negative 7.2 from negative 3.4 and shipments also retreated sharply. Labor market conditions also remained weak.
-0824 Europa Markets
| Country: Index | Last | Change | % Chg |
| Europe Dow | 1725.13 | -9.81 | -0.57 |
| Stoxx Europe 50 | 2630.79 | -4.16 | -0.16 |
| Stoxx Europe 600 | 285.77 | -0.24 | -0.08 |
| Euro Stoxx 50 | 2700.45 | -14.71 | -0.54 |
| Euro Stoxx | 267.09 | -0.97 | -0.36 |
| Austria: ATX Index | 2443.43 | -16.25 | -0.66 |
| Belgium: Bel-20 | 2493.95 | 2.57 | 0.10 |
| Denmark: OMX Copenhagen 20 | 525.31 | 3.21 | 0.61 |
| Estonia: OMX Tallinn | 765.97 | -9.17 | -1.18 |
| Finland: OMX Helsinki | 6054.08 | -9.28 | -0.15 |
| France: CAC 40 | 3698.67 | -9.58 | -0.26 |
| Germany: DAX | 7690.68 | -38.84 | -0.50 |
| Greece: Athens General | 953.93 | -14.36 | -1.48 |
| Greece: DJ Greece TSM | 724.67 | -13.65 | -1.85 |
| Greece: FTSE/ATHEX 20 | 323.57 | -4.93 | -1.50 |
| Iceland: OMX Iceland All-Share | 734.76 | 0.81 | 0.11 |
| Ireland: ISEQ Overall | 3462.56 | -1.43 | -0.04 |
| Italy: FTSE MIB | 17390.77 | -0.47 | 0.00 |
| Latvia: OMX Riga | 405.41 | -1.20 | -0.30 |
| Lithuania: OMX Vilnius | 368.02 | -1.50 | -0.41 |
| Netherlands: AEX | 346.92 | -0.42 | -0.12 |
| Norway: OSE All-Share | 506.59 | -1.34 | -0.26 |
| Portugal: PSI 20 | 6093.19 | -67.35 | -1.09 |
| Russia: DJ Russia Titans | 6492.72 | -45.53 | -0.70 |
| Spain: IBEX 35 | 8538.50 | -93.60 | -1.08 |
| Sweden: OMX Stockholm | 352.15 | -0.57 | -0.16 |
| Switzerland: Swiss Market | 7250.45 | 47.93 | 0.67 |
| UK: FTSE 100 | 6110.60 | 2.74 | 0.04 |
| UK: FTSE 250 | 12787.67 | 28.53 | 0.22 |
| UK: FTSE AIM All-Share | 734.83 | -0.81 | -0.11 |
Gold |
1683.15 | +13.75 | +0.82% | |||
| Silver | 31.218 | +0.108 | +0.35% | |||
| Copper | 3.621 | -0.013 | -0.35% | |||
| Crude Oil | 94.18 | -0.41 | -0.43% | |||
| Natural Gas | 3.386 | +0.013 | +0.39% | |||
| US Cotton No.2 | 75.99 | +0.47 | +0.62% | |||
| US Coffee C | 152.93 | +0.03 | +0.02% |
| EUR/USD | 1.3325 | -0.0057 | -0.42% | |||
| GBP/USD | 1.6052 | -0.0026 | -0.16% | |||
| USD/JPY | 88.53 | -0.94 | -1.05% | |||
| USD/CHF | 0.9274 | +0.0054 | +0.59% | |||
| AUD/USD | 1.0533 | -0.0031 | -0.29% | |||
| USD/CAD | 0.9860 | +0.0021 | +0.22% | |||
| EUR/GBP | 0.8302 | -0.0023 | -0.27% |
Bonds
U.S. 10y 1.82-0.03, 1.68%
German 10y 1.52-0.03, 2.19%
Italy 10y 4.13-0.02, 0.56%
Spain 10y 5.00-0.02, 0.50%
U.K. 10y 2.00-0.03, 1.70%
Japan 10y 0.78-0.04, 4.80%
CDS
| Price | Change | %Change | ||
|---|---|---|---|---|
| ATCD5 | 44.495 | -0.345 | -0.77% | |
| BECD5 | 76.905 | 1.375 | 1.82% | |
| CNCD5 | 173.57 | 19.34 | 12.54% | |
| DKCD5 | 31.00 | 0.17 | 0.55% | |
| DUCD5 | 200.00 | — | UNCH | 0% |
| EGCD5 | 466.46 | -10.115 | -2.12% | |
| FICD5 | 28.98 | 2.15 | 8.01% | |
| FRCD5 | 85.00 | 0.325 | 0.38% | |
| DECD5 | 40.34 | -0.845 | -2.05% | |
| GRCD5 | 4791.3999 | -8.00 | -0.17% | |
| HUCD5 | 273.92 | -0.41 | -0.15% | |
| INOCD5 | 135.665 | -0.66 | -0.48% | |
| IECD5 | 185.415 | 0.415 | 0.22% | |
| ITCD5 | 235.14 | -1.36 | -0.58% | |
| JPCD5 | 77.00 | -0.525 | -0.68% | |
| KRCD5 | 65.00 | -0.295 | -0.45% | |
| NLCD5 | 48.085 | 1.005 | 2.13% | |
| PNCD5 | 95.65 | 0.495 | 0.52% | |
| PTCD5 | 386.25 | -2.76 | -0.71% | |
| SKCD5 | 91.41 | -1.45 | -1.56% | |
| ESCD5 | 258.80 | -1.365 | -0.52% | |
| SECD5 | 18.755 | 0.93 | 5.22% | |
| CHCD5 | 54.78 | -14.87 | -21.35% | |
| GBCD5 | 45.25 | 0.17 | 0.38% | |
| USCD5 | 40.70 | -1.72 | -4.05% |
- Germany said to cut its 2013 GDP forecast to 0.5% from 1.0% prior view while unemployment was seen little changed in 2013. One German Econ Minister did confirm cut in 2013 GDP growth forecast to +0.4% from +1.0% prior view and saw 2014 GDP growth at +1.6%
- France Fin Min Moscovci: confirms to lower Livret A saving scheme to 1.75% from 2.25% . France Budget Min Cahuzac: Spending remains under control; deficit continues to remain close to forecast – French press
- EU’s Barroso: Seeks final ECB oversight agreement in weeks not months
- Spain FROB might delay sale of Catalua Bank indefinitely if bids are too low. Government priority was to get a good price and has until 2017 to sell the entity.
- Cyprus President Christofias stated that the country would not leave the Euro as it had borrowed enough on domestic market to meet financial obligations in the coming months.
- Fitch commented that AAA sovereign ratings remained under pressure in 2013 and beyond as Euro area structural solutions were still elusive. Other risk factors included hard landing for China and US fiscal policy. Includes US, UK and France
- Various BOE members testified to the UK parliament; BOE’s Haldane noted that solving the ‘too big to fail’ issue was not enough to ensure enough UK banking competition.
- Fitch: Debt ceiling delay would prompt a formal review of the US sovereign rating . Reiterated that the ECB’s OMT bond buying program had given euro zone sovereigns breathing room.
- German Debt chief Daube to step down from position today
- Japan minutes from Jan 9th Economic & Fiscal Council saw BoJ Gov Shirakawa note that fiscal consolidation was important and sought to discuss with Government how to strengthen ties; Econ Min Amari expected BOJ to implement aggressive easing under clear price target; PM Abe: BOJ’s independence was important when fighting deflation. He noted that without beating deflation Japan could not increase tax revenues and reform finances.
Bank of Japan (BoJ) Osaka Branch Head: Likely to take a long time for Yen’s fall to start affecting volume of exports. Yen fall will improve corp profits and business sentiment after some time. Japan to sell ¥7.8T more bonds than in FY12 to fund construction and pension Japan Fin Min Aso noted that the priority was to escape recession he said that the FY13 budget to be compiled in line with medium-term fiscal reconstruction plans.
- China to set up property taxes and would implement a value added tax reform in the near term. China to gradually tax property trading and ownership. 2013 foreign direct investment (FDI) to be similar to 2012 levels.
- Anonymous senior German Lawmaker: Not all member states absolutely must remain in the eurozone; risks are manageable even if Greece cannot execute on its reforms; There are no plans to introduce a new austerity program in Germany to balance the budget as it would be unnecessary to do so. German Press
- S&P revises Finland outlook to Stable from Negative; affirms AAA rating . S&P revises Luxembourg outlook to Stable from Negative. S&P affirms Netherlands sovereign rating at AAA, outlook negative
- Recent FT report says Econ Min Roesler would resign as the party leader of FDP if it does not make it into govt at the Lower Saxony elections this coming Sunday. German Press
- Italy PM Monti: Many social groups are suffering due to the economic slowdown, but would be even worse if Italy defaulted; Italy would be worse off now if it had kept the Lira as its currency. Milan court denies former PM Berlusconi request to delay sex trial till after Italy elections- Italian Press
-Fed Chairman Bernanke: Pace of economic growth since the beginning of the recovery has not been as strong as normally needed to improve the labor market, yet we have seen some improvement in the jobs market; Things are moving in the right direction though not as fast as we’d like; “I’m cautiously optimistic.”
- Fed’s Lockhart: Asset purchases must be flexible, no immediate threats seen to financial stability from the monetary policy; Cannot speculate on timing for stoppage or reduction in the QE program; 2013 will be a pivotal year for the US economy. – comments to reporters
- Fed’s Williams: Confident the monetary policy tools will remain effective, have flexibility to adjust the programs up or down – comments to reporters; Expecting rates to rise well before the 2H of 2015 when unemployment may reach 6.5%; QE will probably be necessary into 2H of 2013
- USA Treasury: Special debt-limit measures may expire by mid Feb-March – financial press
- More House Republicans are said to be prepared to support a government shutdown or default in debt ceiling standoff with President Obama – Politico
-Europe Session, Economic Release Summary
- (RU) Russia Central Bank (CBR) left Key rates unchanged (as expected); Refinancing Rate unchanged at 8.25%; Overnight Deposit Rate unchanged at 4.50%; Overnight Auction-Based Repo unchanged at 5.50%
- (DE) Germany Dec Final Consumer Price Index M/M: 0.9% v 0.9%e; Y/Y: 2.1% v 2.1%e
- (DE) Germany Dec Final CPI EU Harmonized M/M: 0.9% v 1.0%e; Y/Y: 2.0% v 2.1%e
- (FR) France Nov Central Govt Balance: -€ v -€92.5Be
- (TR)) Turkey Oct Unemployment Rate: 9.1% v 9.1% prior
- (DE) Germany 2012 GDP Y/Y: 0.7%% v 0.8%e; Budget to GDP Ratio: +0.1%% v -0.1%e
- (ES) Spain Dec Final Consumer Price Index M/M: 0.1%% v 0.1%e; Y/Y: 2.9% v 2.9%e
- (ES) Spain Dec Final CPI EU Harmonized M/M: 0.0% v 0.0%e; Y/Y: 3.0% v 3.0%e
- (ES) Spain Dec CPI Core M/M: 0.0%% v 0.1%e; Y/Y: 2.1% v 2.3%e
- (HU) Hungary Dec Consumer Prices M/M: 0.0% v 0.2%e; Y/Y: 5.2% v 5.2%e
- (CZ) Czech Dec PPI (Industrial) M/M: -0.3% v +0.1%e; Y/Y: 1.2% v 1.6%e
- (CZ) Czech Nov Export Price Index Y/Y: 0.3% v 1.3% prior; Import Price Index Y/Y: 1.3 v 2.2% prior
- (DK) Denmark Dec Wholesale Prices M/M: -0.4% v -0.1% prior; Y/Y: 2.9% v 3.4% prior
- (FI) Finland Nov Current Account: +€200M v -€50M prior
- (EU) ECB: €1.05B borrowed in overnight loan facility vs. €151M prior; €230.5B parked in deposit facility vs. €222.6B prior
- (RU) Russia Dec Light Vehicle & Car Sales Y/Y: 1.0% v 0.0% prior
- (NL) Netherlands Nov Trade Balance: €4.3B v €4.2B prior
- (NL) Netherlands Nov Retail Sales Y/Y: -1.5% v -0.1% prior
- (NO) Norway Trade Balance (NOK): 35.2B v 31.9B prior
- (IT) Italy Dec Final CPI M/M: 0.2% v 0.3%e; Y/Y: 2.3% v 2.4%e
- (IT) Italy Dec Final CPI EU Harmonized M/M: 0.3% v 0.3%e; Y/Y: 2.6% v 2.6%e
- (UK) Dec PPI Input M/M: -0.2% v 0.0%e; Y/Y: 0.3% v 0.4%e
- (UK) Dec PPI Output M/M: -0.1% v 0.0%e; Y/Y: 2.2% v 2.4%e
- (UK) Dec PPI Output Core M/M: 0.0% v 0.0%e; Y/Y: 1.5% v 1.5%e
- (UK) Nov ONS House Price Y/Y: 2.1% v 1.6%e
- (UK) Dec CPI M/M: 0.5% v 0.5%e; Y/Y: 2.7% v 2.7%e; Core CPI Y/Y: 2.4% v 2.6%e
- (UK) Dec RPI M/M: 0.5% v 0.4%e; Y/Y: 3.1% v 3.0%e; RPI-X Y/Y: 3.0% v 3.0%e; Retail Price Index: 246.8 v 246.6e
- (ZA) South Africa Nov Gold Production Y/Y: -32.2% v -45.7% prior; Mining Production Y/Y: -4.5% v -6.2%e
- (RU) Russia Nov Trade Balance: $15.4B v $15.1Be; Exports: $45.4B v $45.5Be; Imports: $30.1B v $30.0Be
- (EU) Euro Zone Nov Trade Balance seasonally adj: €11.0B v €8.0Be; Trade Balance unadj: €13.7B v €10.0Be
-Geopolitical Headliners
- Rio Tinto reported its Q4 iron ore output at 51.9M tons, down from 52.6M from Q3, while annual production was just shy of the 254M ton estimate. Output of copper rose 20% on the year, while alumina production was up 11%.
-Asia Session, Economic Release Summary
(NZ) New Zealand Q4 NZIER Business Opinion: 20 v 8 prior (1-year high)
(NZ) NEW ZEALAND REINZ DEC HOUSE PRICE INDEX 3,522 V 3,544 PRIOR; M/M: -0.6% V +1.4% PRIOR; HOUSE SALES Y/Y 8.2% V 24.1% PRIOR
(NZ) NEW ZEALAND DEC FOOD PRICES M/M: -0.2% V -0.8% PRIOR (4th consecutive month of decline)
(JP) JAPAN DEC MONEY STOCK M2 Y/Y: 2.6% V 2.1%E (highest since Apr 2012); M3 Y/Y: 2.2% V 1.9%E
(JP) JAPAN DEC BANKRUPTCIES Y/Y: -13.8% V -12.0% PRIOR
(SG) SINGAPORE NOV RETAIL SALES M/M: -0.8% V 0.5%E; Y/Y: -1.1% V -0.4%E; RETAIL SALES EX AUTO Y/Y: +2.0% V 2.9%E
(UK) UK DEC RICS HOUSE PRICE BALANCE: 0% V -8%E (highest level since June 2010
-Asian markets were mixed overnight.
A dovish set of remarks by Fed chairman Bernanke was offset by risk-off flows back into the Japanese yen following surprising comments from Japan’s Economic Minister Amari. Speaking in Tokyo, Amari noted that excessive weakness in JPY would not be good for importers and the economy, sparking an abrupt bout of short-covering in a massive short-JPY positioned market. USD/JPY fell over 100pips from session highs all way way to ¥88.60 while EUR/JPY fell nearly 150pips to ¥118.50 before retracing from those lows. Earlier in the trading day BOJ Gov Shirakawa reiterated the central bank would pursue massive easing to support the economy.The Cabinet of Prime Minister Shinzo Abe approved Tuesday a 13.1 trillion yen supplementary budget, the second-biggest ever of its kind, to fund an economic stimulus package, bringing Japan’s budgetary spending for fiscal 2012 to about 103 trillion yen. Japan’s Prime Minister Shinzo Abe said the Bank of Japan’s policy independence is important when it fights against deflation, according to minutes of a recent economy and fiscal panel meeting released Tuesday.”We, the government, want the BOJ to implement bold easing to realize 2% inflation, but how the bank achieves it is up to the BOJ. The BOJ’s independence will be guaranteed, and that’s important when fighting against deflation,” Mr. Abe said during the first meeting of the Council on Fiscal and Economic Policy held last Wednesday, the minutes showed.BOJ Gov. Masaaki Shirakawa, who also attended the meeting, said that while the bank will keep implementing an easy policy, the government’s efforts to strengthen the economy’s growth potential are also important when looking to exit from deflation.”At this month’s policy-board meeting, we will discuss mid- and long-term price stability and want to think about how to beef up ties with the government,” Mr. Shirakawa was also quoted as saying. TM announced it would build its popular Prius car in the USA, and that it had regained the number one auto manufacturer position from GM. The Nikkei finished up .72 pc.
China rested after a massive 3 pc up day yesterday, yet the Shanghai composite still managed to rally .6 to the close, while the Hang Seng was down .14. China continues to be plagued by record cold and continued smog alerts ,which they call ‘fog’ in Communist china. Government officials were banned from driving in major cities. So much for ‘free’ markets when it comes to air quality. Analysts cited recent earnings reports and a stabilized outlook for the economy as the reason for the rally. UBS said yesterday the bear market in Chinese equities was over, which typically means a short down leg is about to begin. Data from the PBOC today also showed that China’s foreign- exchange reserves, the world’s largest, increased in each month during the fourth quarter, rising to a record $3.32 trillion in December. That completes a five-month gain, the longest streak since August 2011.
The KOSPI finished down -1.16 pc. The ASX was down .07 despite a largely upbeat report from RIO.The NZX was up .41 pc. In Singapore the Strait Times was down .33 pc and Taiwan was down .75 pc for the TAIEX. One can argue that the Korean and Taiwanese economies are far more important other than Germany to any of the European economies. The problem with the Asians is they don’t like to take 9 weeks off each year and socialism has still not caught on, in the western sense, with China effectively still not having a social security system. Europe is dead and America is dying and Obama is nailing the coffin shut for the Rothschilids-Windsors.
Asia Close
| Country: Index | Last | Change | % Chg |
| Asia Dow | 2985.56 | 2.94 | 0.10 |
| DJ Asia-Pacific TSM | 1352.63 | 6.68 | 0.50 |
| Australia: All Ordinaries* | 4743.00 | -2.70 | -0.06 |
| Australia: S&P/ASX* | 4716.60 | -3.10 | -0.07 |
| China: DJ CBN China 600* | 21481.39 | 197.20 | 0.93 |
| China: DJ Shanghai* | 294.02 | 2.65 | 0.91 |
| China: Shanghai Composite* | 2325.68 | 13.94 | 0.60 |
| China: Shenzhen Composite* | 932.55 | 14.22 | 1.55 |
| China: Shanghai 50* | 1900.05 | 6.95 | 0.37 |
| Hong Kong: Hang Seng* | 23381.51 | -31.75 | -0.14 |
| India: BSE Sensex* | 19986.82 | 80.41 | 0.40 |
| India: S&P CNX Nifty* | 6056.60 | 32.55 | 0.54 |
| Indonesia: JSX Index* | 4400.82 | 18.33 | 0.42 |
| Indonesia: JSX BISNIS 27* | 379.21 | 3.48 | 0.93 |
| Indonesia: JSX Islamic* | 606.27 | 4.21 | 0.70 |
| Indonesia: JSX LQ-45* | 754.49 | 5.05 | 0.67 |
| Indonesia: PEFINDO-25* | 478.00 | -3.88 | -0.81 |
| Indonesia: SRI-KEHATI* | 237.73 | 2.35 | 1.00 |
| Japan: DJ Japan TSM* | 564.44 | 4.73 | 0.85 |
| Japan: Nikkei Average* | 10879.08 | 77.51 | 0.72 |
| Japan: TOPIX Index* | 906.22 | 7.53 | 0.84 |
| Malaysia: DJ Malaysia TSM* | 3123.09 | 2.67 | 0.09 |
| Malaysia: FTSE Bursa Malaysia KLCI* | 1685.89 | 1.26 | 0.07 |
| New Zealand: NZX 50* | 4170.95 | 17.04 | 0.41 |
| S. Korea: KOSPI* | 1983.74 | -23.30 | -1.16 |
| S. Korea: KOSPI 50* | 1710.66 | -22.72 | -1.31 |
| S. Korea: KOSPI 100* | 1982.24 | -25.92 | -1.29 |
| S. Korea: KOSPI 200 Composite* | 261.43 | -3.37 | -1.27 |
| Singapore: FTSE Straits Times* | 3196.07 | -10.52 | -0.33 |
| Taiwan: TAIEX* | 7765.02 | -58.95 | -0.75 |
| Thailand: SET* | 1422.86 | -2.21 | -0.16 |
-Welcome back
Economic Calendar
| Time | Cur. | Imp. | Event | Actual | Forecast | Previous | |
|---|---|---|---|---|---|---|---|
| 00:00 | SGD | Singaporean Retail Sales (YoY) | -1.1% | -0.5% | -1.1% | ||
| 01:00 | JPY | Machine Tool Orders (YoY) | -27.5% | -21.3% | |||
| 02:00 | EUR | German CPI (YoY) | 2.1% | 0.0% | 2.1% | ||
| 02:00 | EUR | German CPI (MoM) | 0.9% | 0.0% | 0.9% | ||
| 02:45 | EUR | French Government Budget Balance | -103.4B | -92.0B | -94.6B | ||
| 03:00 | EUR | Spanish CPI (MoM) | 0.1% | 0.1% | -0.1% | ||
| 04:00 | EUR | Italian CPI (MoM) | 0.2% | 0.3% | 0.3% | ||
| 04:00 | EUR | Italian CPI (YoY) | 2.3% | 2.4% | 2.4% | ||
| 04:00 | NOK | Norwegian Trade Balance | 35.20B | 31.90B | |||
| 04:30 | GBP | Core CPI (YoY) | 2.4% | 2.6% | 2.6% | ||
| 04:30 | GBP | CPI (YoY) | 2.7% | 2.7% | 2.7% | ||
| 04:30 | GBP | CPI (MoM) | 0.5% | 0.5% | 0.2% | ||
| 04:30 | GBP | House Price Index (YoY) | 2.1% | 1.7% | 1.5% | ||
| 04:30 | GBP | PPI Input (YoY) | 0.3% | 0.3% | -0.1% | ||
| 04:30 | GBP | PPI Input (MoM) | -0.2% | -0.1% | 0.1% | ||
| 04:30 | GBP | PPI Output (YoY) | 2.2% | 2.4% | 2.1% | ||
| 04:30 | GBP | PPI Output (MoM) | -0.1% | 0.0% | -0.3% | ||
| 04:30 | GBP | RPI (YoY) | 3.1% | 3.0% | 3.0% | ||
| 04:40 | EUR | Spanish 12-Month Letras Auction | 1.472% | 2.556% | |||
| 05:00 | EUR | Trade Balance | 11.0B | 8.2B | 7.4B | ||
| 05:00 | GBP | BoE Gov King Speaks | |||||
| 05:00 | GBP | CB Leading Index (MoM) | 0.2% | -0.3% | |||
| 06:00 | BRL | Brazilian Retail Sales (YoY) | 8.4% | 8.3% | 9.2% | ||
| 08:30 | USD | Core PPI (MoM) | 0.1% | 0.1% | |||
| 08:30 | USD | Core PPI (YoY) | 2.1% | 2.2% | |||
| 08:30 | USD | Core Retail Sales (MoM) | 0.2% | 0.0% | |||
| 08:30 | USD | NY Empire State Manufacturing Index | 2.0 | -8.1 | |||
| 08:30 | USD | PPI (YoY) | 1.4% | 1.5% | |||
| 08:30 | USD | PPI (MoM) | -0.1% | -0.8% | |||
| 08:30 | USD | Retail Sales (MoM) | 0.2% | 0.3% | |||
| 08:55 | USD | Redbook (MoM) | -0.30% | ||||
| 10:00 | USD | Business Inventories (MoM) | 0.3% | 0.4% | |||
| 11:30 | USD | 4-Week Bill Auction | 0.055% | ||||
| 16:30 | USD | API Weekly Crude Stock | 2.03M | 2.36M | |||
| 16:30 | USD | API Weekly Gasoline Stock | 3.05M | 7.93M | |||
| 18:30 | AUD | Westpac Consumer Sentiment | -4.10% | ||||
| 18:50 | JPY | CGPI (YoY) | -0.7% | -0.9% | |||
| 18:50 | JPY | Core Machinery Orders (MoM) | 0.3% | 2.6% | |||
| 19:00 | USD | FOMC Member Fisher Speaks | |||||
| 19:30 | AUD | New Motor Vehicle Sales (MoM) | 0.0% | ||||
| Tentative | CNY | Chinese FDI | -3.60% | ||||
| 21:45 | JPY | 5-Year JGB Auction | 0.163% | ||||
Newslinks
-Chile Seeks Developed Status, Meets Soaring Energy Costs
-French Strikes on Mali Islamists Threaten Revenge Attacks
-Apple Drops to 11-Month Low on Reports of IPhone Cutbacks
-Recovery in U.S. Saving 8 Million Underwater Homeowners
http://www.bloomberg.com/news/2013-01-15/recovery-in-u-s-saving-8-million-underwater-homeowners.html
-Wells Fargo Bets on Charlotte Trading After BofA Flees
http://www.bloomberg.com/news/2013-01-15/wells-fargo-bets-on-charlotte-trading-after-bofa-flees.html
-Small Firms to Keep Lagging Back in U.S. Expansion: Economy
-Draghi’s Bond Rally Masks Debt Doom Loop Trapping Spain
-China starts to shut factories with latest Smog/Fog, weather wars
-Dell Eyes Buyout to End Public Scrutiny 25 Years Post-IPO
-Apple cuts orders for iPhone 5 parts on weak demand: Nikkei
-German economy contracted 0.5 percent in fourth-quarter on euro crisis
http://www.reuters.com/article/2013/01/15/us-germany-gdp-idUSBRE90E09Q20130115
-Intel to GE Stuck in Profit Slump as U.S. Rebound Stalls
-USA Retail Sales Increse more than forecast
-Analysis: In spending wars, Obama strikes at Republican leverage
http://www.reuters.com/article/2013/01/15/us-usa-fiscal-leverage-idUSBRE90E06520130115
-First take on 2013 Detroit auto show: Sportscars trump EVs
http://www.reuters.com/article/2013/01/15/us-autoshow-wrap-idUSBRE90E03L20130115
-Bernanke to Weigh QE Costs as Fed Assets Approach Record
Says debt level is critical.
http://www.reuters.com/article/2013/01/14/us-usa-fed-idUSBRE90D14Z20130114
-Gold Forecasters Splitting on Peak for Bull Market: Commodities
