ZGR 1/25/2013

Headliners

-Greeks being sunk by Troika and their Present Government

-Monti in middle of DB Derivative Heist and Berlusconi says he will Cut Monti’s hated property tax on day one. Illuminati looks like it is physically targeting Berlusconi with Advanced Microwave Weapons!

-Obama appoints Chicago Mobster McDonough to Chief of Staff

-Portugal Needs 2nd Aid Program-Fitch

-Fake Terrorists/Activist (probably) Blown Up Glencore CEOs Mailbox, smash at window at Credit Suisse at Davos

-EU Banks repay $187 bn of $1.34 Tn of LTRO cash

-EU considered freezing Britain out of budget

- ECB’s Draghi: Positive contagion on markets had yet to be transmitted into the real economy

-B787 Points to either sabotage or massive design/mfg flaws..failures cant be duplicated

-German Ifo rises to 104.2 from 102.4 in December

-Draghi-EU Recovery in 2H2013

-UK Q4 GDP, -.3 % v -.1 %e. Osborne Fail!!

-Jaguar /Land Rover to be made in China and maybe Middle east.. Goodbye UK!!

-VW and German Reich  Eviscerates Americans by moving US Destined Golf Car Production to Mexico

-Cameron’s Belligerence washes over Europe like a bad case Herpes

-Switzerland Readying for the Collapse of Euro/EU

-Zionist Banking Criminal Tim Geithner’s Last day as UST Secretary

-Japan envoy Yamaguchi meets Xi in bid to end tensions, delivers prime minister’s letter to China’s new leader

-Nikkei surges 2.88 pc as 100 Y/D dollar green-lighted on Inflation data

-Japan Fin Min: BoJ easing aimed at beating deflation, not currency manipulation; excessive JPY strength being corrected

-FED finally starts QE4, as Balance sheet surges over $3 Tln for first time

============================================================

Commentary

-1358  USA/Europe Closing

We have a rather nice dump of snow, and I have to head out early to lay some tracks down. So I’m going to do the ZGR of the USA and European markets early and hit the road.

First lets talk about APPL, if you read the Samsung report which was crushed for 3 pc last night there are clear growth problems in Asia and globally still and at best growth is Tepid and  you have lots of  just pure CB/monetary inflation masquerading as real growth as governments globally cook the books for political purposes. Both Samsung and APPL are mo/growth stocks more or less, or were. Tech Earnings from Flextronic to Juniper to MSFT were simply awful wrt to revenue forecast and you can argue MSFT had negative real growth in revenue last year. The only bright spot was the book to bill ratio at the Semis finally starting to move back up to the .9 range. The outlooks were not particularly great from the Technology sector which is a proxy for global growth. So APPL is not alone. APPL is in something like 25 pc of institutional investors holding who were holding it as PEG stock not a value stock and while I can whip in and out of apple in milliseconds it takes institutional investors days to reduce their holdings. I own DELL as a value tech stock as the CEO is far shrewder. I’m not going to be following APPL much on a day to day basis as it was just a trading stock. Netflix on a pullback is probably the mo stock I will trade.

If you listen to the CME crowd they are all equity bulls even pumping buying APPL today despite its transition to a value stock this week.The lack of a single bear on the Chicago floor tells me we are due for a correction unless Bernanke continues the weekly balanced sheet growth and does not sterilize. I expect Bernanke to back off as the USA 3 month open check book  will be used to loot the USA taxpayer to get Rothschilds girl Merkel a 2nd term and Bernanke will use his kin Lew the Jew to loot the USA taxpayers for Europe’s and Germany benefit and cut the cash off PDQ to control commodity prices. That is just my thinking. No one watches gold more closely than Bernanke every day. He knows how to value it and rig it. He’s written a lot about that. Nice that Geithner is going to retire to WS to make millions more and not go to the FED for more power. One filthy, stinking rich, Shylock bankster, that is all Tim is. One of the biggest crooks if not biggest crook to serve as UST secretary.  A complete Rothschilds/EU /London puppet.

China has been waiting patiently for the Bernanke’s expansion from 3 tln to 4 tln to happen, and they are sitting on their hands wrt to their own rate cuts althoug their shadow banking system is really pumping a lot of cash into the property sector. Additionally I watch  German traders and they are super bulls in fact I would say there was Europhia in Frankfurt that Germany had won last night. Cameron is being sidelined as the EU is working out how to bypass his veto over their budget making him look like the Feckless, stupid dick he is. Now what would cause me to cover my DAX and SP short was some sort of rate cut from China and Bernanke quit playing these sterilization games and more clearly directing the markets higher like the BOJ and MOF and PM did. I took the BOJ/MOF at their word and shorted Y versus the dollar. The Japanese government is different than the USA government and when they say do something you don’t do the opposite. 100 Y/D won’t hurt the USA is merely where the dollar versus yen should trade. When that move is over gold will probably move up over 1800 as the BOJ will buy USTs and that will pump more $ into the USA which should lift commodity prices including gold.

I follow the old WS adage, Sell em when they’re yelling and buy em when they’re crying. German and ECB hubris and arrogance, expressed through the hyper evil Draghi is nauseating. Merkel reminds me more of Hitler’s daughter every day. Shes not particularly bright , maybe only a 130 IQ. Plus the German bankers run her. You sort of sense with the Gold move the Bundesbank made, Merkel is going to slit Weidmanns throat after the election and the baton will be handed to the ECB and complete stooge will be put in the Bundesbank and that gold will continued to be encumbered . DB has always had a big gold short position and they are far more powerful and influential than the Bundesbank these days through political influence buying. Merkel is a DB whore.

Draghi put his candidate Monti in the middle of the political spotlight on Monti De Peschi/DB derivative fraud. Berlusconi made his move on that and said his party would cut Montis property tax , eliminating it on day one. To be frank if I was Italian I would vote Berlusconi’s party back into power. Bersani and Monti are both losers wrt to doing the right thing for Italy. I think Berlusconi will be murdered by the illuminati if he upsets the Mario brothers show in Italy.

Europes’ periphery was further squeezed by the Germans which actually drives labor and capital to German sort of creating this bubble in Germany. The more they squeeze the periphery the better Germany does, up until the EU economy implodes.The UK GP decline in GDP was due mainly to the North Sea oil shortfall. The UK has no economy beyond finance and service but they are a major customer of German goods. Osborne/Camerons/Kings policies basically get a fail. I expect Carney will be told to take the pound down hard like after Soros broke the Deutsche Mark peg of European exchange rate mechanism. The English pound looks like a great short against the Euro, dollar and Yen once the Yen reaches 100. Cameron trying to sideline the UK and leverage the EU to give London  all the finance had a fail today as well as the Germans will use EU rules to side step him.

The problem for the Germans is that as Spain and Greece and even Italy as they pile on more debt in an appreciating currency the debt burden becomes even harder to pay off, unless offset by ECB/ESM buying down the spreads through monetization, which they did do today with probably ESM funds. We had an unexplained rally in Italy and Spanish debt given the data. Ireland and Portugal are reaching for their next bailouts and Ireland for improved terms and both want ESM money, despite nothing really being in the kitty at this point.

AEP actually wrote an excellent column that Cameron’s five year hold on the EU in/out is a moot point as Germany will implode the EU unless it greatly eases. To me this Boeing thing looks like a clear sabotage operation by the Brussels-London-Paris axis and smacks of EU desperation to turn on their ‘protector’ in such a reprehensible manner. Some other engineers have contacted me  and said it looks like Sabotage to them as well. Europe and London in particular have always looked at Americans as chumps with Rothschilds like deviltry. The Germans certainly sent a major salvo saying VW Golf production would be moved to Mexico. So the Germans have the Hubris with Rothschilds puppet Obama in power  to squeeze us like they are squeezing the Greeks. Like with WW2, German greed has likely exceeded their stomach capacity and they are about to throw up on the globe this year. Barry Eichgreen said as much the same thing in Davos. The Germans have not fixed one thing yet in Europe properly although they are wisely and slowly getting their banks and fiance under control. The troika needs higher government salaries in Greece but far fewer employees and lower taxes. Some ones lust for Greek assets of which $20 bn are now on the block and cheap Greek land is driving this not rational economics. Greece will go communist soon, much like Italy, then the Germans games will be over with.

With the USA sending B52s to bomb Libya for England, France and Germany, how hard would it be for Obama to send a B52 to circle the Bundestag and tell VW to build their plant in the USA or get out. Ask any Austrian or Italian and they will tell you German arrogance can be breath taking at times. The Germans do like to march and the huns are on the march again. Without Russia, they are sort of just a bunch of slimy bankers and 2nd rate engineers, which is why Boeing had to be sabotaged. I did not like the German’s bad attitude so I sold the DAX short today in addition to building my SPY short on my thesis Bernanke is too afraid of gold to launch a 1 trillion dollar QE4 in a non election year. The FED wants to shove the blame onto the pols.

That said today Regling did the right thing politically  with the ESM and goosed Italy and Spains bonds in face of bad data from Spain and Montis political humiliation by Berlusconi. Rajoy was beyond pathetic. Unfortunately this creates moral hazard and Spain is not reforming their bloated government sector and liberalizing labor laws and the bank mess and fraud just grows and grows with no effective regulator really in place. And Mr. Draghi at the ECB is the effective regulator after his fail at the Bank of Italy to discover the off book DB CDS/IRS trades. Yet the Press won’t touch the Chosen one, Dracula of the ECB. What a complete farce.

The Germans are sort of betting that either the FED will continue to to the monetization or Congress will, and Europe can milk the USA to fight its oil and resource wars in the middle east and Africa and most importantly they can sideline and isolate England, which they have failed miserably at for the last 100 years and make England come begging to them for a loan, and that China will keep gutting the USA and buying from them as they back door USA car and other technology to asia for free. The Germans are living in a very lonely and isolated bubble and have no allies, much like WW2. Austria has to do what Germany wants or they will murder the Chancellor again. Germans are materialists and Zionist these days and playing a pretty stupid I win you lose game.

I sold some more of the Euro short. I share the opinion of the MS/German analyst in Handelsblatt about the Euros fate over the next two year that the Germans will be forced to let it go to parity with the dollar or the EU will break up. I use a low cost ETF rather than the futures market to hold the position long term short the Euro. The Europeans are moving far too slow and in a mendacious ways and don’t have the political mechanisms ex going to a full federal state run out of Berlin to be super power to continue on their current path, and need debt mutualization now, not 2 years from now. Europe is sort of on a perpetual Marshall plan and needs to pick the USA pockets and technology like China for its present socialist political form to survive. German traders were end zone dancing despite no volume and even though the venerable Axel Weber saying the EU would be flat this year, that is there was no real 2h recovery coming like Draghi was bragging about. Today was sort of the ECBs moment in the sun at Davos and the ESM was not about to let their partner Draghi look foolish and the Europeans were trying to talk up their highly leveraged banking system with the LTRO payback that is starting to trickle in even as Spains bad loans begins to soar again and who know what Italian banks hold anymore than Greek banks. Banks were probably buying their own stock with LTRO money today.

The Stoxx was up a modest .3 pc today the DAX was up nearly a surreal 1.5 pc.

In the early going we had a lot of Europhia in USA stocks.  Shares of Oshkosh were up 12% this morning after the firm crushed earnings expectations in its Q1 report and hiked its FY13 earnings outlook. The firm saw better sales and margins, and overall gross margins appeared to be up sharply on a y/y basis largely as construction people were replacing old equipment at last that used their engines.-Starbucks was up a solid 4% after  meeting expectations in its Q1 report. Much of the upside apparently is driven by the firm’s comments about good momentum in China and a reiteration of its plans to build out the China operation. In addition, the firm expects to see benefits throughout the year from easing commodity prices. All this top line growth and EPS is coming with a lot of debt being piled on to build stores and accounting gimmicks to get a good looking EPS. The management is beyond slimy. Procter & Gamble’s Q2 results beat expectations and raised its FY13 outlook. The firm reiterated its hopes for more growth overseas, although executives warned FX might become a threat to profits this year and they announced job cuts every year through 2016. Given they cut prices , cut heads and reduced pricing their Y/Y revenue growth is not even keeping up with global inflation. The stock action was driven by head cutting and the EPS that comes from that. Halliburton was up nearly 5% on a strong earnings report, although the firm saw a decline in North America revenue. Executives said they believe margins would bounce back in North America even as rig counts remained lower than in 2012. USA equity prices subdued as profit taking set in.

We have a big disconnect between Y/Y revenue and EPS and economic fundamentals stock prices. Bernanke will have to print a lot more money to rectify that or be willing to settle for a correction.

Have a good weekend.


Economic Release USA trading Session

(EU) ECB: Banks to repay €137.2B in weekly repayments of 3-year LTRO operation announces size of weekly repayments of 3-year LTRO with 278 of 523 banks participating
(IN) India Forex Reserves w/e Jan 18th: $295.7B v $296.3B
(RU) Russia Dec Real Retail Sales M/M: 20.8% v 20.0%e; Y/Y: 5.0% v 4.4%e
(RU) Russia Dec Unemployment Rate: 5.3% v 5.5%e
(RU) Russia Dec Disposable Income: 4.9% v 4.5%e
(RU) Russia Dec Real Wages Y/Y: 0.3% v 6.8%e
(RU) Russia Dec Investment in Productive Capacity: -0.7% v +1.0%e
(BR) Brazil Dec Total Outstanding Loans (BRL): 2.359T v 2.304T prior; Loans M/M: 2.4% v 1.5% prior; Private Banks Lending (BRL): 1.233T v 1.220T prior; Personal Loan Default Rate: 7.9% v 7.8% prior
(TR) Turkey Jan Industrial Confidence: 102.1 v 97.9 prior; Capacity Utilization: 72.4% v 73.6% prior
(CA) Canada Dec Consumer Price Index M/M: -0.6% v -0.2%e; Y/Y: 0.8% v 1.2%e; Consumer Price Index: 121.2 v 121.6e
(CA) Canada Dec CPI Core M/M: -0.6% v -0.2%e; Y/Y: 1.1% v 1.4%e
(MX) Mexico Dec Preliminary Trade Balance: +$962M v -$936M prior
(US) Dec New Home Sales: 369K v 385Ke

1:42 p.m. EST 01/25/13Major Stock Indexes
Last Change % Chg
DJIA 13883.98 58.65 0.42
Nasdaq 3150.53 20.15 0.64
S&P 500 1501.94 7.12 0.48
DJ Total Stock Market 15672.71 77.67 0.50
Russell 2000 903.06 2.87 0.32
Global Dow 2114.46 13.38 0.64
Japan: Nikkei Average* 10926.65 305.78 2.88
Stoxx Europe 600* 289.72 0.83 0.29
UK: FTSE 100* 6284.45 19.54 0.31
 
1:41 p.m. EST 01/25/13Treasurys
Price Chg Yield %
2-Year Note -1/32 0.276
10-Year Note -23/32 1.936
* at close
1:32 p.m. EST 01/25/13Futures
Last Change Settle
Crude Oil 96.22 0.27 95.95
Gold 1657.6 -12.3 1669.9
E-mini Dow 13819 38 13781
E-mini S&P 500 1496.25 4.50 1491.75
1:42 p.m. EST 01/25/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 91.06 90.33
Euro (EUR/USD) 1.3464 1.3377
† Late New York trading.

-Goldman Pumped Institutional Investors as its Traders were dumping..

Apple Inc.’sAAPL -1.13% 12-month price target was cut to $660 from $760 a share on Friday by Goldman Sachs. Apple shares suffered their worst day in four years on Thursday, sinking 12% to around $450 in the wake of disappointing results a day prior. “Apple’s guidance was essentially what we expected from the typically conservative management team. The problem, and the key disappointment in the call, was that management made it pretty clear that it was moving towards providing more realistic guidance.” The iPhone product cycle hasn’t been able to deliver the upside Apple investors are accustomed to, and post-holiday demand for the product also disappointed, the bank said. Goldman also cut its fiscal year 2013-2015 revenue estimates by 2% to 6% and earnings per share estimates by 6% to 14%, but kept Apple on its conviction-buy list, on “optimism that new products in the coming months will invigorate new user growth.” Key risks include delayed product cycles, supply chain problems, product price erosion and a slower pace of product innovation, Goldman said.

-Athens has slashed public sector pay and pensions and raised taxes to shore up public finances under measures prescribed by its euro zone partners and the International Monetary Fund to keep bailout aid flowing to the country.According to ELSTAT, the fall in disposable income was mainly due to an 11.3 percent drop in workers’ pay, a 10.2 percent fall in social benefits and a 17.7 percent rise in taxes on income and wealth.The resulting squeeze on household budgets led to a 6.1 percent fall in consumption to 35.9 billion euros ($48.3 billion) in the third quarter, deepening the economic slump which is now in its sixth consecutive year.

-Shareholders in Italy’s Monte dei Paschi have approved two capital increases of up to €6.5bn, to be carried out if needed over the next five years.This would allow the bank to issue shares to the Treasury if it cannot repay interest on bonds it is selling to the government as part of its €3.9bn state bailout, or reimburse the loans.The bank also said it had approved the sale of a number of non-strategic stakes to boost its capital, reports Reuters

Screw the shareholders, reward the naked shorts and reward the government and management for lying, and let DB off the hook for selling fraudulent CDS/IRS swaps.

-Barry Eichgreen Says EU could heat up this year and crash. From AP wire story.

“Nothing has been resolved in the eurozone, where markets have swung from undue pessimism to undue optimism. They said all the right things last year … and they’ve been backtracking ever since…He urged eurozone leaders follow up on its proposals to steady its banking system and keep failed banks from adding to government debt through expensive bailouts”

 

-Spain getting Desperate or Germans Told Spain to Boost VW sales

Speaking in Chile, where he is attending a meeting of European and Latin American leaders, Rajoy said his government would spend €150m euros on the extension.The deal involves a €2000 discount when people trade in their existing car – must be 12 years old or more – to buy a new vehicle. The plan helped ease the fall in car sales last year due to the economic downturn. Guardian

-Geithners last Weasel Words from Davos on why No Banksters went to Jail , ex Madoff/Sanders

“My own view was that it was going to be very hard, if not impossible to design a financial rescue that was going to be effective in protecting all the innocent victims hit by the crisis and still satisfy the completely understandable public desire for justice and accountability. Those things were in direct and tragic tension, never resolvable at that time,”

Tim Geithner, Davos

-This Jewish fight between Ichan and Ackman is funny. Good amusement. Ichan has Ackman 9 ways to Sunday. Ackmans little naked short Zionist Herbal life hater cartel is going to blow up. I’m no fan of Herbal life and wary of the stock but it is no massive fraud. Even after the Zionist dismantled that Indonesian/China  paper /pulp firm, it turned out most of their allegations were unfounded and the stocks delisting in Canada through political pressure and Zionist activism destroyed it. Herbal life’s accounting could be  lot cleaner, but so could the banks. Shorts get away with criminal behavior in the USA, and most them are collusive trading based upon distortion and lies rather than say outright fraud like in LEH, which was a clear short. I’ve never been a fan of shorts , although you have to do some to hedge your longs.

-Friday pound down on gold, not unexpected as the Y/D is going to go to 100.

MARKETS – AT A GLANCE
12:49 p.m. EST 01/25/13Major Stock Indexes
Last Change % Chg
DJIA 13877.59 52.26 0.38
Nasdaq 3142.75 12.37 0.40
S&P 500 1500.43 5.61 0.38
DJ Total Stock Market 15657.90 62.86 0.40
Russell 2000 903.60 3.41 0.38
Global Dow 2113.14 12.06 0.57
Japan: Nikkei Average* 10926.65 305.78 2.88
Stoxx Europe 600* 289.72 0.83 0.29
UK: FTSE 100* 6284.45 19.54 0.31
 
12:48 p.m. EST 01/25/13Treasurys
Price Chg Yield %
2-Year Note -1/32 0.264
10-Year Note -22/32 1.935
* at close
12:39 p.m. EST 01/25/13Futures
Last Change Settle
Crude Oil 95.91 -0.04 95.95
Gold 1657.9 -12.0 1669.9
E-mini Dow 13815 34 13781
E-mini S&P 500 1495.25 3.50 1491.75
12:49 p.m. EST 01/25/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 91.06 90.33
Euro (EUR/USD) 1.3458 1.3377
† Late New York trading.

-Looks like Cat is going to have a bad report on Monday, just from watching the tape. Shares down almost 2 pc.

-Former Premier Silvio Berlusconi is vowing to scrap Italy’s property tax in his first cabinet meeting if elected, zeroing in on Italians’ deep distaste for the tax imposed by Mario Monti‘s government in a bid to raise public coffers.Berlusconi outlined his latest “contract” with Italians on Friday as he pressed his latest comeback bid, promising a host of reforms and measures to give relief to Italians suffering through a deep recession and youth unemployment at a record 37 percent.He blamed the reinstatement of the tax on primary residences for Italy’s spiral into recession, saying it had decreased property values, halted housing sales and seriously harmed the construction industry.Berlusconi’s center-right coalition is currently trailing the center-left in polls some 27 percent to 38 percent.
-The whore USA media is trying to promote Geithner as ‘greatest UST Secretary in history’. Not if you look at net jobs, and debt, and debt downgrade and that he is still in the hole on his AIG and other bailouts, and all the WS  and London crime that continued under his watch. In Politico / WSJ wire he took himself out of contention for FED Head to replace Bernanke. And let’s not talk of his gold rig and hyper active PPT. The Europeans are eternally grateful for bailing out London and French Zionist/money center banks. Evil is good and good is evil with the USA British-Israel , Luciferian bankster crowd and with the Zionist controlled media. Now he was the greatest UST for the Banks, I will give him that. Bond traders at the UST primary dealers,  also give him the thumbs up for all the tip offs!!

-Obama speech was limited to introducing new Chief of Staff. McDonough is a well known Chicago hack and part of the Chicago, British-Israel gang. Hey, at least he does not work for the Mossad. Actually Rahm Emmanuel was and probably still is the number 2 Mossad agent in the USA. He is no war monger and against Nuking Iran for Isra-hell. This is a big FU to the AIPAC crowd.

-XOM just overtook APPL with largest market cap. The Crown is very happy with that.

-Obama is going to speak about his recent staff picks. On BBN-TV, CNBC, etc

-1211 Global Market

Major Stock Indexes
Last Chg %Chg
Global Dow 2113.49 12.41 0.59
DJ Global Total Stock Market 2786.58 10.99 0.40
DJ Global exUS TSM 2191.28 8.43 0.39
DJ Asia-Pacific TSM 1340.45 0.80 0.06
 Australia: S&P/ASX* 4835.20 25.00 0.52
 China: Shanghai Composite* 2291.30 -11.29 -0.49
 Hong Kong: Hang Seng* 23580.43 -18.47 -0.08
 India: BSE Sensex* 20103.53 179.75 0.90
 Japan: Nikkei Average* 10926.65 305.78 2.88
 Taiwan: TAIEX* 7672.58 -23.41 -0.30
Stoxx Europe 600 289.72 0.83 0.29
 Belgium: Bel-20* 2570.58 16.58 0.65
 France: CAC 40* 3778.16 25.99 0.69
 Germany: DAX* 7857.97 109.84 1.42
 Italy: FTSE MIB* 17726.89 -29.74 -0.17
 Sweden: OMX Stockholm* 361.07 2.99 0.84
 UK: FTSE 100* 6284.45 19.54 0.31
DJ Americas TSM 3902.59 11.84 0.30
 Argentina: MerVal 3342.21 25.96 0.78
 Brazil: Bovespa* 61169.83 -796.43 -1.29
 Canada: S&P/TSX 12823.71 0.09 0.00
 

-Europe Close

Will be a little delayed as I’m researching the Boeings problems. Very bad news that the battery is different date codes. If not sabotage that says there is a fundamental design problem with the battery or mfg process. Here are closing prices for Europe. I may roll the EU close in the USA close.

Country: Index Last Change % Chg
Europe Dow 1765.07 16.21 0.93
Stoxx Europe 50 2659.41 5.24 0.20
Stoxx Europe 600 289.72 0.83 0.29
Euro Stoxx 50 2744.18 21.22 0.78
Euro Stoxx 272.61 1.92 0.71
Austria: ATX Index* 2459.38 14.81 0.61
Belgium: Bel-20* 2570.58 16.58 0.65
Denmark: OMX Copenhagen 20* 541.83 5.20 0.97
Estonia: OMX Tallinn* 769.33 1.53 0.20
Finland: OMX Helsinki* 6096.73 -36.12 -0.59
France: CAC 40* 3778.16 25.99 0.69
Germany: DAX* 7857.97 109.84 1.42
Greece: Athens General* 1014.53 27.08 2.74
Greece: DJ Greece TSM* 767.94 20.70 2.77
Greece: FTSE/ATHEX 20* 342.20 9.97 3.00
Iceland: OMX Iceland All-Share* 729.37 0.29 0.04
Ireland: ISEQ Overall * 3552.36 22.46 0.64
Italy: FTSE MIB* 17726.89 -29.74 -0.17
Latvia: OMX Riga* 405.60 1.10 0.27
Lithuania: OMX Vilnius* 374.42 0.60 0.16
Netherlands: AEX* 355.74 1.61 0.45
Norway: OSE All-Share* 519.45 1.65 0.32
Portugal: PSI 20 6274.89 -7.35 -0.12
Russia: DJ Russia Titans* 6668.74 92.19 1.40
Spain: IBEX 35* 8724.60 59.00 0.68
Sweden: OMX Stockholm* 361.07 2.99 0.84
Switzerland: Swiss Market* 7458.66 0.92 0.01
UK: FTSE 100* 6284.45 19.54 0.31
UK: FTSE 250* 13136.10 69.66 0.53
UK: FTSE AIM All-Share* 740.09 -0.20 -0.03

German 10y 1.58+0.07, 4.33%

Italy 10yr 4.09-0.03, 0.62%

Spain 10yr 4.93-0.07, 1.46%

 U.K. 10yr 2.06+0.05, -2.42%

-Blabber mouth and Ashkenazi , Steph Rude is bragging about being a Jersey Shore Gal, and bemoaning her problems with( Ashkenazi )pattern baldness. Can you believe BBN allows garbage like that on during the trading day. These BBN people are such ‘softball’ pitchers, not as bad as CNBC but they are really licking the Royals boots at Davos. Thats it for BBN for the week, thank goodness. To be Frank I just had the screen on and no sound almost all week. Marissa Mayer came out and said virtually nothing on BBN, other than ‘its coming’ much like Draghi and these clowns fall all over her. Yahoo looks like it is being dumbed down during her watch and being turned into People magazine. So far Mayer is all hat and no cattle much like her feminist predecessor. She is making some right patnership deals with Twitter which is here to stay. The problem with the WEB now is the boys in the NSA are coming up with scrubbing algorithm and direction algorithms to keep people pointed towards the disinformation and thought control sources. It is getting harder and harder for web-bots to find useful information, unless of course you’re the master webbot that crawls my site several times a day and reports into the ‘troika’ in London. I would not mind Steph, if she were like Pimm Fox another Ashkenazi and did her job and knew something and was objective and tossed the occasional hard ball at the bank and Wall Street corruption. BBN should fire Steph and give Pimm Fox her job or Michelle Yeuh out of London.

-‘Davos’ activists attack home of Glencore chief

Activists protesting against the World Economic Forum in Davos claimed responsibility for explosions that blew up the postbox at Glencore chief Ivan Glasenberg’s home and broke a window at a Credit Suisse branch. DT

Ivan could have blown up his own mailbox to get more ‘free’ security. Security is very, very expensive. The Swiss have the tightest security in the world especially at Davos, so likely this was state sponsored to justify to the rest of Switzerland having most of the Military and Federal Police at Davos.

-EU considered freezing Britain out of budget

The European Commission looked at ways of getting a deal on the European Union’s next long-term budget without British consent so as to prevent Prime Minister David Cameron from vetoing the package, it has confirmed. DT

-1111 APPL $446

-Geithner takes himself out of race to replace Bernanke. WSJ

-1039 BAC CEO is on BBN-TV from Davos

Says consumer (working spending is good m/m, y/y) spending is good.

-Marketwatch

10:37 a.m. EST 01/25/13Major Stock Indexes
Last Change % Chg
DJIA 13840.36 15.03 0.11
Nasdaq 3136.84 6.46 0.21
S&P 500 1496.16 1.34 0.09
DJ Total Stock Market 15610.97 15.93 0.10
Russell 2000 902.99 2.80 0.31
Global Dow 2109.55 8.47 0.40
Japan: Nikkei Average* 10926.65 305.78 2.88
Stoxx Europe 600 289.61 0.72 0.25
UK: FTSE 100 6274.90 9.99 0.16
10:36 a.m. EST 01/25/13Treasurys
Price Chg Yield %
2-Year Note -1/32 0.264
10-Year Note -18/32 1.919
* at close
10:27 a.m. EST 01/25/13Futures
Last Change Settle
Crude Oil 96.07 0.12 95.95
Gold 1657.2 -12.7 1669.9
E-mini Dow 13786 5 13781
E-mini S&P 500 1492.75 1.00 1491.75
10:37 a.m. EST 01/25/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 90.84 90.33
Euro (EUR/USD) 1.3459 1.3377
† Late New York trading.

-Oshkosh Corp. OSK +12.38% shares jumped as much as 13% at the open Friday after the specialty and custom truck maker posted a 20% higher fourth-quarter results and raised its full-year earnings outlook to reflect a rebound in the U.S. housing market. Most of the company’s recent growth was from commercial orders rather than military contracts. The company, which spent much of the past quarter fending off a takeover attempt by activist investor Carl Icahn, raised its earnings estimate for the year to between $2.80 and $3.05 from $2.35 to $2.60 previously. Oshkosh shares were last up 11% at $38.41, backing off a 52-week high at the open of $39.68. Icahn had offered shareholders $32.50 a share back in October, eventually abandoning his effort to gain control of the company in December after failing to acquire enough shares to push ahead with his plan. MW

-NYSE /Euronext CEO Bullish on ICE deal moving forward with regulators -BBN/TV from Davos

-Sales of new single-family homes fell in December, while less volatile longer-term trends showed a strengthening market, according to data released Friday by the U.S. Department of Commerce.Sales of new single-family homes fell 7.3% to a seasonally adjusted annual rate of 369,000 in December. Economists polled by MarketWatch had forecast new-home sales to hit 385,000 in December.Despite December’s decline, sales rose 8.8% from the same period in the prior year, with high affordability and rising household formation supporting demand. However, the rate of new-home sales remains far below a bubble peak of almost 1.4 million in 2005. MW

- IMF’s Lagarde commented in Davos that the global economy was showing a timid recovery and would be slightly better in 2013 but uncertainties did remain that included events like EMU crisis, US Debt and fiscal negotiations, BOJ policies and China. Central banks have been acting as fireman and action by them still needed. Unclear when goverments would take over the baton from central banks. ECB had a little room to tweak rates if necessary.

- German IFO economists noted that domestic economy was making promising start to the year and forecasted Q1 GDP growth at 0.2% and added that a recession in country was not expected. German companies were starting to feel the effect from an easing in the EMU crisis as optimism was rising. Both capacity utilization and industrial output were rising. German Exporters had no fear of a currency war but could be a problem at some point.

- UBS’s Weber noted that the global economy bottomed out at the end of 2012. All fiscal and monetary policies were on extremely expansionary paths , which brought some risks. 2013 GDP for Europe would be just above flat y/y but was bullish on EU companies with exposure to China.

- German BDB Banking Assoc Kemmer commented that Germany was seen presenting a proposal to split banks in the next 3-months 

- Fitch commented on Portugal . Further evidence that the internal adjustment was working as planned, with continued reduction in the current and fiscal deficits, would lead to the Outlook being revised to Stable from Negative. It expected Portugal would not gain full market access before IMF-EU program ended (expected in 2013). Portugal will need additional funding support and a new program. Political risk remained significant

- Finland President Niinistoe: EUR exchange rate too high

- France Labor Min Sapin: Domestic labor market remains “bad”

- Greece Asset development program chief Athanasopoulos commented that asset sales program was a key tool for growth and targeted €25B in asset sales by 2020.

-DB Raises SP500 to 1600

The S&P 500 SPX +0.31% has had a strong run so far this year and Deutsche Bank analysts expect it to go even higher, leaving its old record in the dust.The analysts raised on Friday their 12-month target for the index to 1,600 from 1,575.“We are encouraged by recent legislation to sever the issue of spending cuts from the debt ceiling,” they wrote in a note to clients, referring to developments in Washington. “A higher debt ceiling sidelines the tail risk of default on debt or entitlement payments and puts the focus on a new spending cut agreement or following through with sequestration.”The S&P 500 has gained around 5% so far this year. The benchmark rose briefly above 1,500 on Thursday for the first time since 2007.  It’s still shy of its record closing high of 1,565.15, hit in October 2007. Read more on U.S. stock trading. Sentiment has become more positive than the typical new normal gloom, but we maintain our view that the next 5%+ S&P 500 price move is likely up to about 1,575,” the Deutsche Bank analysts said. They don’t expect the index to hit 1,600 in the first half of the year.Our best advice is to participate in the likely grind higher over the next few months with overweights in tech and industrials,” the analysts noted. “We remain overweight in financials on another expected leg up later in 2013.”

Germany’s economy is highly dependent on shipping cars to the USA and China , thus they need QE4 from the USA to lift both the USA and China to keep from having the fate of France. The market will grind higher, only if Bernanke continues the QE4 he started last week. Other than that  downside move is likely. The German Reich is throwing all its longs onto the fire to push up the EU economy from Draghi waving the victory flag and touting the Euro dollar, to DB to the Ifo burgermeister talking their confidence even as the UK, a big consumer of German good contracts. This is a highly political forecast and very optimistic.

-1003 Major Stock Indexes after USA new home sales

Last Change % Chg
DJIA 13855.62 30.29 0.22
Nasdaq 3146.40 16.02 0.51
S&P 500 1498.98 4.16 0.28
DJ Total Stock Market 15640.64 45.60 0.29
Russell 2000 902.97 2.78 0.31
Global Dow 2112.13 11.05 0.53
Japan: Nikkei Average* 10926.65 305.78 2.88
Stoxx Europe 600 289.54 0.65 0.22
UK: FTSE 100 6277.39 12.48 0.20
 

-USA December new home sales fall 7.3 pc

-  EU’s Rehn: EU will decide on aid for Portugal and Ireland in mid April; evaluating many different types of aid; unclear whether the Euro is overvalued but currency wars must be avoided; Eurozone nations need skin in the game in bank recapitalizations; need substantial reduction in Cyprus sovereign and bank debt burdens; Cyprus bank problems pose systemically important risks for Europe.

-  German Foreign Min Westerwelle says Eurozone crisis now past lowest point

-  George Soros: Euro is here to stay and likely to appreciate as others seek to devalue via currency wars; Yen depreciation from BOJ policy is ‘real’ – Davos comments

- Ireland Debt Agency (NTMA): Successful T-bill auctions show that the govt has regained normal market access at the short end of the curve; Will probably go ahead with long term syndicated bond before resuming regular bond auction schedule; Access to the OMT bond buying program would be a positive factor.

- Spain PM Rajoy announces the extension of benefits to long-term unemployed until the unemployment rate drops below 20% -ABC

- Spain may extend short-selling ban on bank stocks – Spanish Press
-(NL) Netherlands PM Rutte: Confident his government will finish entire term.

-USA Market Sectors

U.S. STOCKS | See all U.S. Stocks Data
9:57 a.m. EST 01/25/13Major Indexes(Roll over for charts)
Last Change % Chg
DJIA 13879.02 53.69 0.39
DJ Transportation Average 5824.79 -30.15 -0.51
DJ Utility Average 467.19 -0.08 -0.02
DJ Total Stock Market 15668.09 73.05 0.47
Nasdaq 3151.33 20.94 0.67
Nasdaq 100 2744.81 21.27 0.78
S&P 500 1501.96 7.14 0.48
S&P 100 677.03 3.06 0.45
S&P 400 Mid-Cap 1092.22 5.16 0.47
S&P 600 Small-Cap 507.14 1.24 0.25
NYSE Composite 8894.75 38.16 0.43
Russell 2000 903.12 2.93 0.33
NYSE MKT Composite 2412.49 3.67 0.15
KBW Bank 54.15 0.20 0.37
PHLX Gold/Silver 153.90 -0.88 -0.57
PHLX Housing Sector 188.69 -1.15 -0.61
PHLX Oil Service 244.84 3.25 1.35
PHLX Semiconductor 416.34 6.10 1.49
CBOE Volatility 12.61 -0.08 -0.63
9:57 a.m. EST 01/25/13Markets Diary
Issues NYSE Nasdaq NYSE MKT
Advancing 1,721 1,291 165
Declining 1,054 819 138
Unchanged 131 127 40
Total 2,906 2,237 343
Issues at
New 52 Week High 198 111 10
New 52 Week Low 5 2 1
Share Volume
Total 413,345,285 256,308,445 7,092,872
Advancing 290,160,973 194,440,139 2,863,809
Declining 118,378,594 59,996,717 3,339,777
Unchanged 4,805,718 1,871,589 889,286

-Shares of Halliburton Co. HAL +4.87% rose more than 6% at the open Friday as the oilfield services firm’s fourth-quarter earnings were better than Wall Street expected. Halliburton reported profits of $669 million, or 72 cents a share, down from $906 million, or 98 cents a share, a year earlier on continued weakness on the North American business. Analysts had expected per-share earnings of 61 cents, according to FactSet. MW

-ACA Warns

French bank Credit Agricole SA said Friday its fourth-quarter consolidated income would take a hit of around 160 million euros ($214.5 million) because of a EUR651 million impairment charge at the regional banks level due to a change in accounting methods.The charge comes on the heels of other charges taken by Credit Agricole, the listed entity of Groupe Credit Agricole, primarily on its investment in Greece.Groupe Credit Agricole, a mutual banking group made up of local and regional banks as well as Credit Agricole SA, its listed entity, and SAS Rue La Boetie, said that a change in accounting methods at the regional banks resulted in the impairment charge, but it said its consolidated results as well as its solvency ratios won’t be affected.Listed since 2001, Credit Agricole SA is 55% owned by 39 French cooperative regional banks. It, in turn, owns 25% of those lenders.France’s third-largest publicly listed bank booked a EUR1.96 billion loss on last year’s sale of Emporiki Bank of Greece, along with a EUR572 million write-down on its consumer-finance unit because of a difficult Italian economy. Credit Agricole also booked a EUR1.02 billion accounting charge stemming from a rule that requires banks to book a loss if the price of their debt rises.Groupe Credit Agricole had a comfortable core Tier 1 capital ratio, made up of only top equity such as retained earnings, of 11.3% at the end of September. However, analysts fear that regulators may ask the financially less robust listed entity itself, Credit Agricole SA, to comply with the same ratio standards on a standalone basis, and not just the holding company. MW

-Chinese Bullish on Silver

http://www.marketwatch.com/story/if-china-likes-silver-maybe-we-should-too-2013-01-25

Death for London at some point.

-Proctor and Gamble can’t be too bullish on the global economy with yearly head cuts of 2-4 pc through 2016. That could be ‘red meat’ they are throwing WS. Revenue Y/Y is below the real inflation rate. Always high priced products, the economy is so lousy they had to cut prices for the upper middle classes and middle class that brought the advertising and name brands. The street loved the bloodletting the stock is up $2.5.

-Marketwatch

9:33 a.m. EST 01/25/13Major Stock Indexes
Last Change % Chg
DJIA 13855.59 30.26 0.22
Nasdaq 3139.32 8.93 0.29
S&P 500 1499.10 4.28 0.29
DJ Total Stock Market 15641.31 46.27 0.30
Russell 2000* 900.19 3.49 0.39
Global Dow 2112.06 10.98 0.52
Japan: Nikkei Average* 10926.65 305.78 2.88
Stoxx Europe 600 289.42 0.53 0.18
UK: FTSE 100 6278.02 13.11 0.21
9:33 a.m. EST 01/25/13Treasurys
Price Chg Yield %
2-Year Note -1/32 0.268
10-Year Note -17/32 1.917
* at close
9:23 a.m. EST 01/25/13Futures
Last Change Settle
Crude Oil 96.21 0.26 95.95
Gold 1657.8 -12.1 1669.9
E-mini Dow 13806 25 13781
E-mini S&P 500 1495.25 3.50 1491.75
9:33 a.m. EST 01/25/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 90.98 90.33
Euro (EUR/USD) 1.3459 1.3377
† Late New York trading.

-931 Major Indexes

Last Change % Chg
DJIA 13846.75 21.42 0.15
Nasdaq 3139.61 9.23 0.29
S&P 500 1498.24 3.42 0.23
DJ Total Stock Market 15631.18 36.14 0.23

-Procter & Gamble Co.’s PG +1.72% fiscal second-quarter earnings more than doubled as most of the company’s businesses grabbed more market share, helping results exceed consensus estimates.The world’s largest consumer-products company raised its fiscal 2013 core earnings estimate to between $3.97 and $4.07 a share, which reflects an increase of 3% to 6%, and now expects organic sales growth of 3% to 4%. Its June forecast was for a mid-single-digit percentage increase in core earnings per share and a 2% to 4% rise in organic sales. The company forecast current-quarter core earnings of 91 cents to 97 cents a share, while analysts surveyed by Thomson Reuters expect 95 cents for the fiscal third quarter.P&G also increased its guidance for stock repurchases to between $5 billion and $6 billion from a prior range of $4 billion to $6 billion.The maker of household staples–including Bounty paper towels, Pampers diapers and Tide laundry detergent–has seen its revenue decline in recent quarters as it continued to lose market share in most of its businesses. There have been signs of improvement, including in the U.S., as price cuts in its largest market have staunched losses in categories such as razor blades and laundry detergent.P&G also has said it plans to cut its nonmanufacturing workforce by an additional 2% to 4% annually between fiscal 2014 and 2016. That comes on top of plans to reduce its nonmanufacturing jobs by 10%, or 5,700, by the end of its current fiscal year ending June 30. P&G executives have said the cost cuts are key to freeing up resources that can spur sales growth, such as advertising some of its lower-price products, like the Mach 3 version of shaving products instead of the pricier Fusion line.P&G said it held or increased market share in businesses representing nearly 50% of sales during the latest period.For the quarter ended Dec. 31, P&G reported a profit of $4.06 billion, or $1.39 a share, up from $1.69 million, or 57 cents, a year earlier. Excluding items such as restructuring and impairment charges, core earnings rose to $1.22 a share from $1.09.Sales rose 2% to $22.18 billion, while organic sales increased 3%. MW

Lousy revenue, growth massive price cutting an laying off for the next 3 years. not exactly chipper although the street mainly buys the EPS and head cut story

-922 Europe

Country: Index Last Change % Chg
Europe Dow 1765.02 16.16 0.92
Stoxx Europe 50 2656.97 2.80 0.11
Stoxx Europe 600 289.41 0.52 0.18
Euro Stoxx 50 2741.43 18.47 0.68
Euro Stoxx 272.24 1.55 0.57
Austria: ATX Index 2457.12 12.55 0.51
Belgium: Bel-20 2563.19 9.19 0.36
Denmark: OMX Copenhagen 20 541.22 4.59 0.86
Estonia: OMX Tallinn 769.33 1.53 0.20
Finland: OMX Helsinki 6081.03 -51.82 -0.84
France: CAC 40 3774.20 22.03 0.59
Germany: DAX 7841.56 93.43 1.21
Greece: Athens General 1007.56 20.11 2.04
Greece: DJ Greece TSM 765.69 18.45 2.47
Greece: FTSE/ATHEX 20 339.28 7.05 2.12
Iceland: OMX Iceland All-Share 733.51 4.43 0.61
Ireland: ISEQ Overall 3532.68 2.78 0.08
Italy: FTSE MIB 17749.40 -7.23 -0.04
Latvia: OMX Riga 405.60 1.10 0.27
Lithuania: OMX Vilnius 374.42 0.60 0.16
Netherlands: AEX 355.34 1.21 0.34
Norway: OSE All-Share 518.85 1.05 0.20
Portugal: PSI 20 6263.75 -18.49 -0.29
Russia: DJ Russia Titans 6638.58 62.03 0.94
Spain: IBEX 35 8714.80 49.20 0.57
Sweden: OMX Stockholm 359.91 1.83 0.51
Switzerland: Swiss Market 7450.68 -7.06 -0.09
UK: FTSE 100 6276.15 11.24 0.18
UK: FTSE 250 13103.33 36.89 0.28
UK: FTSE AIM All-Share 739.29 -1.00 -0.14

-Obama to name Denis McDonough as White House chief of staff. The president is expected to name nine additional senior positions around midday Friday.

-The ECB said 278 banks would repay €137.2 billion of the December LTRO on Jan. 30, the first date early repayments are possible.

-0915 Europe Session Economic Release Summary

(RU) Russia Narrow Money Supply Narrow w/e Jan 21st: 7.52T v 7.64& prior

 (FI) Finland Q4 House Prices Q/Q: -0.3 v +1.1% prior; Y/Y: 3.0% v 1.8% prior
(HU) Hungary Nov Retail Trade Y/Y: -4.1% v -3.2%e
(ES) Spain Dec Producer Prices M/M: -0.1% v -0.5% prior; Y/Y: 2.7% v 2.8% prior
(EU) ECB: €0.0M borrowed in overnight loan facility vs. €0.0M prior; €210.3b parked in deposit facility vs. €206.8B prior
(TW) Taiwan Dec M2 Money Supply Y/Y: 3.7 v 3.3% prior; M1 Money Supply Y/Y: % v 3.7% prior
(NL) Netherlands Jan Producer Confidence: -5.6 v -5.1e
(DE) Germany Jan IFO Business Climate: 104.2 v 103.0e; Current Assessment: 108.0 v 107.3e; Expectations Survey: 100.5 v 98.5e
(GR) Greece Nov Current Account: -€850M v -€684M prior
 (UK) Q4 Advanced GDP Q/Q: -0.3% v -0.1%e; Y/Y: 0.0% v 0.2%e
(UK) Q4 Advanced Index of Services M/M: 0.0% v -0.1%e; 3M/3M: 0.6% v 0.5%e
(GR) Greece Q3 Household disposable income: €33.2B v €37.2B y/y

-I don’t take much stock of the USA housing reports, so I might sleep in. Most of the action was in Japan and Europe with the Europeans and Koreans complaining about the Yen but the USA remaining silent. The feckless leaders of the USA punted the can 3 months down the road and are busy figuring out how to loot USA taxpayers to the max in the next 3 months. Despite Ben finally stepping on the QE4 accelerator that is last weeks data and the banks ran the equity and bond markets up on it. The FED may rest next week to keep markets off balance, that is give the ‘free trade’ to its dealers who know if QE is happening in real time or not today and next week. Home building is a small part of the USE, hardly worth losing sleep over. Jobs and trade , and fiscal, political and  monetary polices drive markets. USA home building stocks look like a better short than long.

-MS Germany in Handelsblatt said the Euro dollar is headed to 1.o5, yes, 1.05/$ not 1.50/$ over the next 2 years. That is my view as well. Quite a good article and well thought out compared to Dracula Draghi. The devil is a polished liar and thought he could talk Christ out of the truth. Draghi would be perfect to play Satan tempting Christ to throw himself to the rocks. Economists, have little science and much theft and deception as their underlying principals and are  the most extraordinary of liars, or they would not have gotten this far in their plan to rule the world through finance.

http://www.handelsblatt.com/finanzen/rohstoffe-devisen/devisen/hans-redeker-im-interview-der-euro-wird-massiv-abwerten/7670316.html

-Interesting interview with Marissa Mayer of Yahoo I wanted to watch at Davos. Shes definitely only a ‘B’ type of CEO. Interesting to see how the female mind works when it comes to SW  and system development. Where is the innovation and good design. Seems like Yahoo design elegance has gone backwards since the first platform. Good BS artist  Mayer though. Still wish her luck.

-The euro EURUSD +0.4615% continued to press higher versus the dollar Friday, extending an earlier gain after a stronger-than-expected rise in the Ifo German business-climate index and upbeat comments by European Central Bank President Mario Draghi in Davos, Switzerland. The euro traded at $1.3446 in recent trade, up from $1.3318 in North America late Thursday. The euro traded as high as $1.3451, its highest level since February 2012, according to FactSet. Draghi, speaking at the World Economic Forum’s annual meeting, said 2012 had effectively marked the relaunching of the euro and repeated that financial stresses had eased, although the economy continues to lag. Earlier, Germany’s closely-watched Ifo index posted a rise to 104.2 in January. MW

My own personal observation of the Ifo survey is that Germans are always very optimistic near the top, right ahead of major turn downs,  and very, very pessimistic near the bottom, long after their economy has turned up. Germans are reacting to China not crashing and the USA QE4 and anticipated car sales. Americans buy a lot of German made cars, unfortunately. Ifo is just the opinion of a bunch of German Burgermeisters. CEOs are notoriously bad at forecasting data. I used to do major forecasting and statistical work, it is a complete crap shoot at turn ups or downs. What these guys may be reacting to is seeing some visibility out of Chinese clients with the new leadership in place and plan for FY2013 and optimism over the carte blanche for deficit spending in the USA for a while, while ignoring the rot in France, Greece and Spain. CEOs are greed driven these days. Recall ZEW, the same Burgermeister  types said the Bundesbank was wrong and they were right and Germany would have greater growth than the Bundesbank said. German CEOs, well we saw what the SAP CEO did to HPQ in the short time he had it.

- An unexpectedly strong jump in the Munich-based Ifo Institute’s January German business-climate index on Friday signals a widely-suspected fourth-quarter contraction for Europe’s largest economy may have already ended, economists said. The business-climate index rose to 104.2 from 102.4 in December, its highest level since June. Economists surveyed by Dow Jones Newswires had expected a reading of 103.0. The forward-looking expectations index rose to 100.5 in January from 98.0, while the current-conditions index rose to 108.0 from 107.1. “The contraction in the fourth quarter of 2012 seems to be short-lived. With biggest fears of a euro-zone breakup fading away and the improved outlook for the U.S. and China, prospects for the German economy are also clearing off,” said Carsten Brzeski, economist at ING in Brussels.  MW

-I sold some more of the DAX short. Regling buying DAX futures or whoever is managing the ESM slush fund of Germany.

-505 Draghi/Davos: Eurozone still needs to overcome stagnation, sees recovery in 2H in EU. Economy in EU stabilizing at low level. Claims his monetary policies will generate recovery in 2h (don’t bet on it). ECB wont change policy frame work (tough luck Ireland, Portugal). Wants mutualization of risk across EU. Not happy with pace of EU fiscal consolidation rate (deleverage, debt pay down). Need to mitigate consolidation, hesitation on consolidation process can make things difficult, and front loading consolidation can have benefit . 2012 ‘relaunched’ the Euro, claims tail risks are gone.

A very political speech/talk , panglossian.

Currency/equity markets after speech. Eu surged early 50 pips on Ifo data. No change really on his talking Euro up. Equity markets surge even the UK.

EUR/USD 1.3448 +0.0072 +0.54%
GBP/USD 1.5767 -0.0022 -0.14%
USD/JPY 90.83 +0.49 +0.55%
USD/CHF 0.9244 -0.0044 -0.48%
AUD/USD 1.0453 +0.0002 +0.01%
USD/CAD 1.0033 +0.0009 +0.08%
EUR/GBP 0.8530 +0.0058 +0.68%

 

Europe(Roll over for charts)
Country: Index Last Change % Chg
Europe Dow 1760.59 11.73 0.67
Stoxx Europe 50 2655.84 1.67 0.06
Stoxx Europe 600 289.22 0.33 0.11
Euro Stoxx 50 2739.66 16.70 0.61
Euro Stoxx 272.06 1.37 0.51
Austria: ATX Index 2462.71 18.14 0.74
Belgium: Bel-20 2567.18 13.18 0.52
Denmark: OMX Copenhagen 20 539.95 3.31 0.62
Estonia: OMX Tallinn 769.04 1.23 0.16
Finland: OMX Helsinki 6094.49 -38.36 -0.63
France: CAC 40 3771.35 19.18 0.51
Germany: DAX 7821.26 73.13 0.94
Greece: Athens General 984.97 -2.48 -0.25
Greece: DJ Greece TSM 749.17 1.93 0.26
Greece: FTSE/ATHEX 20 331.80 -0.43 -0.13
Iceland: OMX Iceland All-Share 727.19 -1.89 -0.26
Ireland: ISEQ Overall 3534.72 4.82 0.14
Italy: FTSE MIB 17810.21 53.58 0.30
Latvia: OMX Riga 403.09 -1.41 -0.35
Lithuania: OMX Vilnius 373.75 -0.06 -0.02
Netherlands: AEX 354.72 0.59 0.17
Norway: OSE All-Share 517.68 -0.12 -0.02
Portugal: PSI 20 6296.18 13.94 0.22
Russia: DJ Russia Titans 6618.41 41.86 0.64
Spain: IBEX 35 8707.40 41.80 0.48
Sweden: OMX Stockholm 358.73 0.65 0.18
Switzerland: Swiss Market 7454.61 -3.13 -0.04
UK: FTSE 100 6273.27 8.36 0.13
UK: FTSE 250 13088.74 22.30 0.17
UK: FTSE AIM All-Share 739.41 -0.88 -0.12

 

-The U.S. economy is picking up steam and the Fed’s quantitative-easing approach is helping, but investors should watch out for a possible spike in interest rates once growth is well under way, billionaire financier George Soros warned as he made the rounds at the World Economic Forum in Davos.“Once the economy gets going, then interest rates are going to take a big leap,” Soros, the founder of Soros Fund Management LLC, told CNBC in an interview late Thursday.Soros said the move is likely to happen in 2013 and “may have already begun.” Once uncertainty over the federal budget is overcome and investment decisions are made, “I think you’ll see it,” he said.Soros, who famously made a billion dollars betting against the British pound in 1992, also said there’s room for the euro to appreciate as other countries, such as Japan, take steps to weaken their currencies, Bloomberg reported.Soros  in September slammed Germany for foisting austerity on the euro zone and said the region’s largest economy was potentially heading for a depression of its own.On Thursday, Soros said Germany would do the “minimum” to preserve the euro, but said the euro-zone still faces a “tense” situation over the next two years, according to Bloomberg. Maintaining that the timing remains wrong for more austerity, Soros said tight fiscal and monetary policies will see the shared currency appreciate as other countries pursue looser policies.“Currencies have been remarkably stable in the last few years,” he said, according to the report. “Now there is the making of more fireworks, more volatility.”

MW

-Jan 25 (Reuters) – Japan’s transport ministry said on Friday that the batteries involved in the incidents on a Boeing Co 787 Dreamliner in Boston and another one in Takamatsu, western Japan, were made on different dates.

-Arrogant Dracula Draghi is coming up to speak at WEF

-0431 UK Q4 GDP, -.3 pc in Q4 vs -1 pc expected

-FEARS RAISED OVER ECB FUNDING SCHEME

Senior bankers are becoming increasingly concerned about the European Central Bank’s special longer-term funding scheme, saying that it could encourage the creation of a two-tier banking market. FT

-Germany’s Ifo business climate rose more-than-expected last month, data showed. The Ifo Institute for Economic Research said its index of German business climate rose to 104.2, from 102.4 in the preceding month .

Analysts had expected the index to rise to 103.0 last month

-Lagarde, ‘We have avoided the collapse, no time to relax, we must avoid a  relaspe” @ Davos

Ha, ha, BS Slogan, Keene nailed her ‘where are the adults in Europe, where is the leadership in Europe.’ Madame Lagarde, had no answer. Worthless interview.

- BARCLAYS EXECUTIVES FACE MOUNTING LIBOR PRESSURE

Top executives at Barclays were aware the bank was manipulating its submissions to Libor rate-setting panel in November 2011, almost a year earlier than previously disclosed, emails suggested. FT

-Citi’s Private Bank to Pull SAC Capital Investment

Citigroup’s private bank has decided to pull its $187 million investment from SAC Capital, the latest in a string of client defections that have occurred amid scrutiny of the hedge-fund firm. WSJ

Gold back door attack by C

-Deutsche Bank AG (DBK)’s Christian Bittar, one of the firm’s best-paid traders, lost about 40 million euros ($53 million) in bonuses after he was fired for trying to rig interest rates, three people with knowledge of the move said.The lender dismissed Bittar in December 2011, claiming he colluded with a Barclays Plc (BARC) trader to manipulate rates and boost the value of his trades in 2006 and 2007, said the people, who requested anonymity because they weren’t authorized to speak publicly. His attempts to rig the euro interbank offered rate and similar efforts by derivatives trader Guillaume Adolph over yen Libor are the focus of the bank’s probe, the people said. Both traders declined to comment for this story. BBN

-Boycott VW and Germany!!

Volkswagen AG (VOW), Europe’s biggest carmaker, will begin producing its best-selling Golf hatchback for the Americas at a plant in the region to benefit from lower labor costs and hedge against unfavorable currency fluctuations between the dollar and euro. VW will build the next generation Golf beginning in the first quarter of 2014 at its factory in Puebla, Mexico, to sell in North and South America, the Wolfsburg, Germany-based company said in a statement dated today and obtained by Bloomberg News. BBN

B.S.- they are doing because of greed and gut America with ‘free trade’ and ‘payback’. Maybe we should fire up  some B52s and fly them over Berlin and the Bundestag!!!

German’s defecate on brave the Swede’s attempt to produce electric cars as well as on Americans!! Germans are on a roll crapping on everyone tonight….

“The likelihood of this project turning into a success is very small,” said Ferdinand Dudenhoeffer, director of the Center for Automotive Research at Germany’s University of Duisburg-Essen. “Even in China, selling electric cars is a very difficult business.”..

The Reich is in charge of Europe again.

-328 Europe

 

Country: Index Last Change % Chg
Europe Dow 1751.43 2.57 0.15
Stoxx Europe 50 2648.37 -5.80 -0.22
Stoxx Europe 600 288.35 -0.54 -0.19
Euro Stoxx 50 2720.83 -2.13 -0.08
Euro Stoxx 270.48 -0.21 -0.08
Austria: ATX Index* 2444.57 5.12 0.21
Belgium: Bel-20 2557.33 3.33 0.13
Denmark: OMX Copenhagen 20 537.25 0.61 0.11
Estonia: OMX Tallinn 765.82 -1.99 -0.26
Finland: OMX Helsinki 6083.07 -49.78 -0.81
France: CAC 40 3751.44 -0.73 -0.02
Germany: DAX 7753.96 5.83 0.08
Greece: Athens General* 987.45 -31.96 -3.14
Greece: DJ Greece TSM* 747.19 -26.27 -3.40
Greece: FTSE/ATHEX 20* 332.23 -12.91 -3.74
Iceland: OMX Iceland All-Share* 729.08 1.66 0.23
Ireland: ISEQ Overall 3521.42 -8.48 -0.24
Italy: FTSE MIB 17747.60 -9.03 -0.05
Latvia: OMX Riga 402.44 -2.06 -0.51
Lithuania: OMX Vilnius 374.34 0.53 0.14
Netherlands: AEX 353.72 -0.41 -0.12
Norway: OSE All-Share 517.46 -0.34 -0.07
Portugal: PSI 20* 6282.24 -55.35 -0.87
Russia: DJ Russia Titans 6589.26 12.71 0.19
Spain: IBEX 35 8642.60 -23.00 -0.27
Sweden: OMX Stockholm 357.57 -0.51 -0.14
Switzerland: Swiss Market 7439.46 -18.28 -0.25
UK: FTSE 100 6255.83 -9.08 -0.14
UK: FTSE 250 13054.97 -11.47 -0.09
UK: FTSE AIM All-Share 739.77 -0.52 -0.07

-0322 Asia Closing Price Check

Country: Index Last Change % Chg
Asia Dow 3017.30 10.33 0.34
DJ Asia-Pacific TSM 1344.40 4.75 0.35
Australia: All Ordinaries* 4858.90 25.10 0.52
Australia: S&P/ASX* 4835.20 25.00 0.52
China: DJ CBN China 600* 21250.90 -77.35 -0.36
China: DJ Shanghai* 290.30 -1.08 -0.37
China: Shanghai Composite* 2291.30 -11.29 -0.49
China: Shenzhen Composite* 909.52 -2.02 -0.22
China: Shanghai 50* 1886.45 -13.72 -0.72
Hong Kong: Hang Seng 23580.43 -18.47 -0.08
India: BSE Sensex 20031.18 107.40 0.54
India: S&P CNX Nifty 6048.65 29.30 0.49
Indonesia: JSX Index 4423.97 5.24 0.12
Indonesia: JSX BISNIS 27 380.84 1.47 0.39
Indonesia: JSX Islamic 605.80 -2.36 -0.39
Indonesia: JSX LQ-45 755.14 -0.07 -0.01
Indonesia: PEFINDO-25 474.78 -1.22 -0.26
Indonesia: SRI-KEHATI 239.57 0.62 0.26
Japan: DJ Japan TSM* 571.37 11.94 2.13
Japan: Nikkei Average* 10926.65 305.78 2.88
Japan: TOPIX Index* 917.09 19.47 2.17
Malaysia: DJ Malaysia TSM 3045.59 4.91 0.16
Malaysia: FTSE Bursa Malaysia KLCI 1635.38 0.13 0.01
New Zealand: NZX 50* 4199.82 9.91 0.24
S. Korea: KOSPI* 1946.69 -17.79 -0.91
S. Korea: KOSPI 50* 1675.96 -20.19 -1.19
S. Korea: KOSPI 100* 1941.86 -20.96 -1.07
S. Korea: KOSPI 200 Composite* 256.06 -2.68 -1.04
Singapore: FTSE Straits Times 3262.76 14.37 0.44
Taiwan: TAIEX* 7672.58 -23.41 -0.30
Thailand: SET 1457.51 8.42 0.58
Gold 1668.35 -1.55 -0.09%
Silver 31.688 -0.034 -0.11%
Copper 3.696 +0.020 +0.54%
Crude Oil 96.19 +0.24 +0.26%
Natural Gas 3.478 +0.032 +0.91%
US Cotton No.2 82.24 -0.65 -0.78%
US Coffee C 147.03 -3.67 -2.44%
EUR/USD 1.3412 +0.0036 +0.27%
GBP/USD 1.5809 +0.0021 +0.13%
USD/JPY 90.59 +0.26 +0.29%
USD/CHF 0.9278 -0.0011 -0.12%
AUD/USD 1.0457 +0.0007 +0.06%
USD/CAD 1.0030 +0.0005 +0.04%
EUR/GBP 0.8484 +0.0011 +0.14%

-Axel Weber says USA ZIRP  with Fiscal policy is too expansionary and problematical-Davos

-0300 Europe Opens

French CAC 40 index down 0.2% to 3,745.81

FTSE 100 index down 0.1% to 6,250.29

Stoxx Eurpoe 600 down 0.1% to 288.60

Bond Markets

German 10y 1.50-0.01, 0.95%
Italy 10y 4.09-0.03, 0.62%
Spain 10y 4.98-0.02, 0.46%

-Oh, oh, Euros, the English are getting up. Heads up!! “The English are coming”,  is one of the rallying  cries of Freedom in America, Europeans,and you don’t greet them with roses, bad wine and over -aged cheese, a good pilsner and a slice of strudel. We believe in greeting the English with Mr. Colt and Mr. Wesson in the USA. Down with England. Down with its bloody Crown. I suggest you Germans visit Austria and get acquainted with Mr. Glock who will instruct you the fine art of dealing with English treachery.

-Switzerland Readying for Collapse of Euro as it Swarms Davos

Something big is coming to Europe, eh?

http://www.bloomberg.com/news/2013-01-22/davos-shows-army-ready-for-worst-in-biggest-operation-as-in-1847.html

-It is Geithner’s Last Day..what torture.. Lagarde made the drop at Davos and rolled out the next Zionist puppet Jacob Rothschilds instructed her to tell Obama to pick.

-Boeing has 100s of engineers working on B787 battery problem yet the root cause remains a mystery. The charging system was verified as working. No mention of the battery shut down system which clearly failed. Some Zionist Safety person sounds like she wants to take pot shots at the design due to a lack of a fire suppression system in the battery compartment, which would be a very difficult retrofit if they imposed that. No wonder the slimy French Airbus guy was laughing so much at Davos. London and their servants on the Continent have long wanted to destroy Boeing. Boeing has caught sabotage jobs in the past. Looks like the Feds aim to concoct some 911 NIST type of explanation to explain away the sabotage,  and levy a lot of very expensive fixes on Boeing. The stock will take a big hit tomorrow I expect.

Here is yet another incompetent Jew promoted by W. Bush, a Poly science major and school bus driver. Yeah, she’s the one to lead the Safety investigation. Ha, ha. ‘Conflict’ resolution. Yeah that is a useful degree to replace a PHD in Safety engineering or mechanical engineering. Incompetent feminist.

http://www.ntsb.gov/about/bio_hersman.html

-Futures

DJIA INDEX FUTURE Mar13 13,768.00 -0.09% 13,754.00 13,768.00 13,748.00 01:52:59
S&P 500 FUTURE Mar13 1,489.40 -0.13% 1,488.60 1,489.60 1,486.80 01:39:01
NASDAQ 100 FUTURE Mar13 2,717.75 -0.01% 2,716.50 2,717.75 2,713.00 01:52:5
FTSE 100 IDX FUT Mar13 6,213.00 -0.17% 6,209.50 6,214.00 6,202.50 01:46:32

-Key Asian Stock Reports

Samsung Electronics : Reports Q4 final Net KRW7.0T v KRW7.1Te, Op profit KRW8.84T v KRW8.80Te, Rev KRW56.1T v KRW56.2Te; -2.6%

Hyundai Motor : CFO Lee: Higher KRW hurting net profit, Japanese autos continue to benefit from weaker yen, aims to increase US sales by 4.4% in 2013

Kia : Reports Q4 Net KRW738B v KRW838Be; Op KRW404B v KRW621Be; Rev KRW11.3T v KRW11.4Te

KDDI : May report Q3 op profit around ¥155B, +32% y/y; Rev seen up slightly at ¥910B – Nikkei News

Nippon Steel : Toyota, Sumitomo Metal and Nippon Steel agree to cut sheet steel prices 4%

Alibaba .HK: Partnering domestic retailers to build a nationwide logistics network to take advantage of online shopping growth

- PBoC: Q4 loans to the property sector rose 12.8% y/y and 0.6% q/q to CNY12.1T . China’s Jan new yuan loans may total CNY1-1.2T . China incoming Pres Xi: Visit by Japan’s New Komeito party leader Yamaguchi is important . China Labor Ministry: Dec urban registered jobless rate 4.1% vs. 4.1% in Sept.  China’s SAFE: May see large amount of FX flows in 2013 . Reports Dec China banks bought $169.6B in forex from clients; Sold $115.6B to clients; Net purchase of $54B . China Insurance Regulatory Commission  prioritizing risk controls and consumer protection due to slowdown in insurance industry. China Qualified Foreign Institutional Investors (QFII) given permission to trade index futures – China Daily, Xinhau, Shanghai Daily

-  Japan Finmin Aso: BoJ move should not be criticized for currency manipulation . Japan govt may sell Y43T in FY13/14, down from  Y44.2T in FY12/13 – Japan press .Japan could forecast 2.7% nominal GDP in FY13  PM Abe seeking to accelerate debate on trade deals including TPP talks – Nikkei News, Kyodo News, etc

-0125 Asia

In case  you had noticed there was a bull rampage in Japan as the Nikkei soared 2.88 pc to 10926.65 on the back of more price deflation data, and various Japanese Cabinet ministers greenlighted the move to 100 Y/D with the Aso from the MOF, saying no criticism was warranted towards the BOJ for currency manipulation. Minutes from that BoJ meeting released earlier today indicate the bank is committed to bold easing measures aimed at bolstering the floundering Japanese economy.It was a sight you don’t see very often like the running of the bulls in Spain, although the Y/D only made it to 90.5.  Ole!!

After a disappointing earnings report from Hyundai Motor overnight that saw shares fall over 2%, Samsung Electronics released a  disappointing final Q4 report. Samsung’s guidance matched the caution from Apple , warning of slowing global smartphone markets while the outlook for PCs remained dim. Shares of Samsung Electronics are down nearly 3% late in the day. Korea knows Japan can easily beat them at 100 Y/D and the nuclear theater only a 150 km did little to inspire confidence. The Kospi finished down -.91.

Chinese stocks seemed to take their cue from weak earning reports after hours for MSFT, T, JNPR , etc in the USA. Only SBUX could have been considered to have a had a strong revenue and EPS quarter. There was a paucity of market moving news out of China tonight. The Shanghai composite down, .42 % to 2292, and the Hang Seng was down .32 to 23522.

On Wednesday, the International Monetary Fund said it cut its global growth forecast to 3.5% for 2013 from a 3.6% forecast made in October. That could be seen as negative news for the Aussie dollar, which movies with commodities prices, but the price of iron ore, of which Australia is a major producer, has been steadily climbing in over the last several weeks.

Other Asian markets were mixed, with the ASX up .52 pc to 4858.9; NZX up .24 pc in New Zealand; the Strait Times of Singapore was up, .32 .

Commodities did little in Asian trading with gold flat despite the late day release showing Bernanke is finally starting the non-Sterilized QE on a 4 major FED report showing MFG contraction. Gold will be well controlled by the BOJ/FED and cartel until the Y/D move is to the level the BOJ/FED/MOF/UST have negotiated is reached!

Economic Releases Asia Trading Session

 (JP) JAPAN JAN TOKYO CPI Y/Y: -0.6% V -0.6%E; TOKYO CPI EX-FRESH FOOD: -0.5% V -0.5%E
(JP) JAPAN DEC NATIONAL CPI Y/Y: -0.1% V -0.2%E; NATIONAL CPI EX-FRESH FOOD: -0.2% V -0.2%E (4-month low)

(PH) PHILIPPINES NOV TRADE BALANCE: -$1.59B V -$832M PRIOR; TOTAL IMPORTS: 2.2% v 4.3% PRIOR; TOTAL MONTHLY IMPORTS: $5.14B V $5.24B PRIOR (update)
(SG) Singapore Q4 private home prices +1.8% y/y; 2012 prices +2.8% y/y – financial press
(US) NORTH AMERICA DEC SEMI BOOK TO BILL RATIO: 0.92 V 0.79 PRIOR (9th consecutive reading below parity, 2nd m/m rise)

Equity Markets

Country: Index Last Change % Chg
Asia Dow 3012.53 5.56 0.18
DJ Asia-Pacific TSM 1343.20 3.55 0.26
Australia: All Ordinaries* 4858.90 25.10 0.52
Australia: S&P/ASX* 4835.20 25.00 0.52
China: DJ CBN China 600 21248.75 -79.50 -0.37
China: DJ Shanghai 290.14 -1.24 -0.43
China: Shanghai Composite 2292.82 -9.78 -0.42
China: Shenzhen Composite 909.66 -1.87 -0.21
China: Shanghai 50 1886.34 -13.83 -0.73
Hong Kong: Hang Seng 23522.36 -76.54 -0.32
India: BSE Sensex 19970.70 46.92 0.24
India: S&P CNX Nifty 6028.95 9.60 0.16
Indonesia: JSX Index 4423.67 4.94 0.11
Indonesia: JSX BISNIS 27 380.73 1.36 0.36
Indonesia: JSX Islamic 605.75 -2.41 -0.40
Indonesia: JSX LQ-45 755.39 0.18 0.02
Indonesia: PEFINDO-25 475.61 -0.39 -0.08
Indonesia: SRI-KEHATI 239.38 0.43 0.18
Japan: DJ Japan TSM* 571.37 11.94 2.13
Japan: Nikkei Average* 10926.65 305.78 2.88
Japan: TOPIX Index* 917.09 19.47 2.17
Malaysia: DJ Malaysia TSM 3044.26 3.58 0.12
Malaysia: FTSE Bursa Malaysia KLCI 1635.54 0.29 0.02
New Zealand: NZX 50* 4199.82 9.91 0.24
S. Korea: KOSPI* 1946.69 -17.79 -0.91
S. Korea: KOSPI 50* 1675.96 -20.19 -1.19
S. Korea: KOSPI 100* 1941.86 -20.96 -1.07
S. Korea: KOSPI 200 Composite* 256.06 -2.68 -1.04
Singapore: FTSE Straits Times 3259.09 10.70 0.33
Taiwan: TAIEX* 7672.58 -23.41 -0.30
Thailand: SET 1454.41 5.32 0.37

EUR/USD
1.3365 -0.0010 -0.08%
GBP/USD 1.5763 -0.0024 -0.16%
USD/JPY 90.53 +0.20 +0.23%
USD/CHF 0.9300 +0.0011 +0.12%
AUD/USD 1.0447 -0.0004 -0.04%
USD/CAD 1.0033 +0.0009 +0.08%
EUR/GBP 0.8478 +0.0007 +0.08%
Gold 1670.15 +0.25 +0.01%
Silver 31.688 -0.034 -0.11%
Copper 3.689 +0.011 +0.31%
Crude Oil 95.83 -0.12 -0.13%
Natural Gas 3.475 +0.015 +0.42%
US Cotton No.2 82.19 -0.15 -0.18%
US Coffee C 147.03 -3.67 -2.44%

Bonds

U.S. 10yr 1.86+0.00, -0.26%

Japan 10yr 0.74-0.00, 0.36%

CDS -Sovereigns

 

Price Change %Change
AUT CDS 5-YR 44.36 -0.03 -0.07%
BEL CDS 5-YR 75.025 0.10 0.13%
CHN CDS 5-YR 173.57 19.34 12.54%
DEN CDS 5Y 31.13 -0.305 -0.97%
DUBAI CDS 5Y 207.27 1.56 0.76%
EGY CDS 5Y 445.00 UNCH 0%
FIN CDS 5YR 29.50 1.365 4.85%
FRANCE CDS 5YR 86.00 -0.61 -0.70%
GER CDS 5YR 41.55 0.585 1.43%
GRE CDS 5YR 4382.6001 106.20 2.48%
HUN CDS 5YR 273.38 -0.72 -0.26%
INA CDS 5-YR 137.53 0.39 0.28%
IRE CDS 5Y 183.00 -0.045 -0.02%
ITA CDS 5YR 240.74 0.735 0.31%
JPN CDS 5YR 75.13 -0.21 -0.28%
KOR CDS 5YR 66.55 -0.545 -0.81%
NED CDS 5YR 50.435 0.04 0.08%
PAN CDS 5-YR 91.64 -0.36 -0.39%
POR CDS 5-YR 382.735 -1.36 -0.35%
SVK CDS 5YR 93.25 UNCH 0%
ESP CDS 5YR 260.74 0.75 0.29%
SWE CDS 5-YR 18.57 0.655 3.66%
SUI CDS 5Y 40.00 UNCH 0%
UK CDS 5Y 46.785 -0.215 -0.46%
US CDS 5Y 43.59 -1.25 -2.79%

-USA After Hours Summary

FLEX: Reports Q3 $0.22 v $0.20e, R$6.12B v $5.99Be; -7.9% afterhours

MSFT: Reports Q2 $0.81(adj) v $0.75e, R$21.46B v $21.7Be; -1.5% afterhours
T: Reports Q4 $0.44 v $0.47e, R$32.6B v $32.2Be; -0.1% afterhours
JNPR: Reports Q4 $0.28 v $0.22e, R$1.14B v $1.13Be; +0.7% afterhours
CRUS: Reports Q3 $1.64 v $1.41e, R$310M v $282Me; +1.4% afterhours
SBUX: Reports Q1 $0.57 v $0.57e, R$3.8B v $3.83Be; +2.2% afterhours

KLAC: Reports Q2 $0.63 v $0.56e, R$673M v $633Me; +2.4% afterhours

 

-Hopefully we will be able to publish tonight. Those little Kosher devils are hard at work again!!

-Geopolitical Headliners

News www.antiwar.com
Updated January 25, 2013 – 1:00 AM EST
UN Launches Probe of Civilian Drone Deaths
Drones Provoke Growing Controversy in US
Netanyahu Seeks Broad Center-Right Coalition
Abbas Courts Israeli Centrists to Kickstart Peace Talks
Israeli DM: Lack of Syria Invasion a ‘Lesson’ to Israel
Kerry: US Will ‘Do What We Must’ to Stop Iran
Iran Sanctions Passed the Point of Effectiveness, Says Expert
French DM Admits to Mali’s Summary Executions
Report: Ansar Dine Splits as One Faction Eyes Peace Deal
Russia, China Grapple With Mali’s Future
As Islamists Withdraw, Mali’s North Faces Reprisals and Rights Abuses
Abuse in UK’s Iraq Occupation Was ‘Systemic’
US, Britain Warn of Imminent Threats in Eastern Libya
North Korea: Warheads, Rockets Meant for Striking US
Assange Says WikiLeaks Movie ‘Anti-Iran Propaganda’
Viewpoints
The Bellicosity of a Democrat’s Second Term  by Anthony Gregory
America’s New Cold War With Russia  by Stephen F. Cohen
Yes, Pakistanis Really Do Hate America’s Killer Drones by Conor Friedersdorf
Will Obama Shun ‘Perpetual War’? by Steve Chapman
India, Pakistan Peer Into the Abyss by MK Bhadrakumar
Iran Wants a Nuclear Deal, Not War by Hossein Mousavian
More Viewpoints

 

-TGIF, a bit delayed collecting the data tonight.

-Global Calendar. A very light nite of data, and not much is terribly important. German IFO and business sentiment and USA new home sales are it.

Time Cur. Imp. Event Actual Forecast Previous
00:00   SGD     Singaporean Industrial Production (YoY) -0.6% -4.3% 2.9%
03:00   EUR     Spanish PPI (YoY) 2.8% 2.8%
04:00   EUR     German Business Expectations 99.0 97.9
04:00   EUR     German Current Assessment 107.2 107.1
04:00   EUR     German Ifo Business Climate Index 103.0 102.4
04:30   GBP     GDP (QoQ) -0.1% 0.9%
04:30   GBP     GDP (YoY) 0.2% 0.0%
04:30   GBP     Index of Services 0.5% 1.1%
07:30   BRL     Brazilian Bank lending (MoM) 1.50%
08:30   CAD     Core CPI (MoM) -0.2% 0.0%
08:30   CAD     CPI (MoM) -0.2% -0.2%
08:30   CAD     CPI (YoY) 1.0% 0.8%
09:00   MXN     Mexican Trade Balance -1.150B -1.273B
10:00   USD     Mass Layoffs 1.76K
10:00   USD     New Home Sales 385K 377K
10:30   USD     ECRI Weekly Annualized (WoW) 6.10%
11:00   CAD     Budget Balance -1.68B

 

================================================================

NEWSLINKS 

 

-Portugal Will need 2nd aid program Fitch

http://www.telegraph.co.uk/finance/financialcrisis/9826472/Portugal-will-need-second-aid-programme-says-Fitch.html

-Mayer Web Designed for You

http://www.seattlepi.com/technology/businessinsider/article/Finally-Marissa-Mayer-Explains-What-Her-Yahoo-4223473.php

-ECB: banks to repay early $183 billion in loans

Read more: http://www.seattlepi.com/news/article/ECB-banks-to-repay-early-183-billion-in-loans-4222808.php#ixzz2J0Wx7wxK

http://www.seattlepi.com/news/article/ECB-banks-to-repay-early-183-billion-in-loans-4222808.php

-Rising bad loans signal more pain for Spanish banks

http://www.reuters.com/article/2013/01/24/us-sabadell-earnings-idUSBRE90N0DF20130124

-UK Growth contracts as Economy underperforms Japan’s lost decade

http://www.telegraph.co.uk/finance/economics/9827265/UK-growth-contracts-as-economy-underperforms-Japan-in-its-lost-decade.html

-Italy Investors Eye Election Outcomes

http://www.reuters.com/article/2013/01/24/us-italy-investors-idUSBRE90N05V20130124

-Cotton Market Defaults…. Shylock lawyers pounce

http://www.reuters.com/article/2013/01/25/us-cotton-defaults-idUSBRE90O01920130125

-Carney To Upset Apple Cart at BOE

http://www.reuters.com/article/2013/01/25/us-carney-idUSBRE90O07H20130125

-No Easy Passage for Ireland and Portugal

http://online.wsj.com/article/SB10001424127887323854904578261653244885768.html?mod=WSJ_hpp_RightRailColumns

-Deutsche Bank Trader Fired Over Rate-Rigging Loses $53 Million

http://www.bloomberg.com/news/2013-01-25/deutsche-bank-trader-fired-over-rate-rigging-loses-53-million.html

-Australia’s Karoon discovers oil off Brazil coast

http://www.marketwatch.com/story/australias-karoon-discovers-oil-off-brazil-coast-2013-01-24

-Jaguar to flee UK to become made in China  Car

USA sends car mfg/engineering technology to England and Europe and it leaves through the back door to the Chinacoms!!

http://www.bloomberg.com/news/2013-01-24/jaguar-bets-on-china-to-defray-royalty-payments-corporate-india.html

-Saab Hometown Prays for Revival With China Electric Car Push

http://www.bloomberg.com/news/2013-01-24/saab-hometown-prays-for-revival-with-china-electric-push.html

-VW to Shift Golf Production for Americas to Mexico Plant

http://www.bloomberg.com/news/2013-01-25/vw-to-shift-golf-production-for-americas-to-mexico-plant.html

-Cameron’s referendum may never be necessary-AEP

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100022429/david-camerons-referendum-may-never-be-necessary/

-Soros says No to UK Vote

http://www.telegraph.co.uk/finance/financetopics/davos/9825724/Davos-2013-Soros-warns-EU-vote-would-be-a-dangerous-gambit.html

-Referendum Reactions: Cameron Faces Heat from Continent

http://www.spiegel.de/international/europe/cameron-finds-little-support-on-continent-for-referendum-on-eu-a-879441.html

-Cameron Gamble on EU Seen Threatening U.K. Recovery

http://www.bloomberg.com/news/2013-01-25/cameron-gamble-on-eu-seen-threatening-u-k-recovery.html

-China Stuffs City of London Anglo-Zionists who took down USA markets-China Credit Analysis

http://www.bloomberg.com/news/2013-01-25/bears-shut-up-by-data-as-dollar-sales-reach-record-china-credit.html

-Credit Bubble Seen in Davos as Cohn Warns of Repricing

http://www.bloomberg.com/news/2013-01-24/credit-bubble-seen-in-davos-as-cohn-warns-of-repricing.html

-Yen at 100 Per Dollar Endorsed by Japan Official Nishimura

http://www.bloomberg.com/news/2013-01-24/yen-at-100-per-dollar-endorsed-by-japan-government-s-nishimura.html

-Crisis questions linger as Geithner exits public stage

http://www.reuters.com/article/2013/01/25/us-usa-fed-geithner-idUSBRE90O03J20130125

-Bernanke seen as Pressing on with QE4

http://www.bloomberg.com/news/2013-01-24/bernanke-seen-pressing-on-with-stimulus-amid-debate-on-qe.html

-787 probe far from complete, Zionist regulator “very concerned”

http://www.reuters.com/article/2013/01/25/us-boeing-dreamliner-idUSBRE90M0ZO20130125

 

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One Response to ZGR 1/25/2013

  1. vino says:

    alberta economy drowning in its own oil
    Landlocked Alberta facing budgetary ‘perfect storm’ as oil price gap stings:

    http://business.financialpost.com/2013/01/21/landlocked-alberta-facing-budgetary-perfect-storm-as-oil-price-gap-stings-horner/?__lsa=2a47-4e86

    Indeed, Alberta’s bitumen is getting $30 a barrel less than oil in Mexico or Texas, and lighter varieties are getting $50 less than oil from the Middle East. Almost a third of the province’s revenue comes from oil and gas royalties.

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