-U.S. wants criminal charges for RBS over Libor rate-rigging, Stock Symbol to go to jail
-John Taylor Sees Greek Default by Summer
-BP to plead Guilty to Manslaughter And Pay 4 billion dollar fine. Logo or Stock Symbol to go to jail. Lord Tony Hayward and Baron Browne are ROFL.
-$ 1 Tln Student Loans Reach Unsustainable 15 pc Default, Fair Issac Credit(FICO)
-USA Worker Confidence Tanks to 58.6 in Jan
-Ford Motor Losses Widen in Europe, Projects greater 2 billion dollar loss due to Europe in 2013. Ford Tanks nearly 6 pc on Europe FY13 outlook
-Case Schiller Home Index , up 5.5 pc Y/Y in November, down .1 pc M/M
-Spanish Retail Sales fall for 30 th month in a row, -10.7 % y/y in Dec. EUC Ollie Rehn said that EU could consider relaxing some of the goals for Spain if the economy deteriorated
-Russia Announces Plans to Send Man to Moon (Send Prince Charles, leave him)
-FOMC Meeting Begins in USA
-USA set to move Troops/Drones Into Mali Region without Congressional Funding/Authorization
-USA/Japan Given B787 LI Battery Maker Yuasa okay on quality/mfg issues
-Japan cabinet gives OK to record 92.6 Tln Y. initial FY 2013 general-account budget
-India Cuts Rates for First Time in Nine Months
-Xi starts Crackdown on Communist Party by Kicking Members out, arrests for corruption and limiting Party Size
-China opens up Shenzhen Yuan offshore lending/trading program
-Corrupt NY/NJ residents to Get 2nd tranche of Hurricane Sandy Funds for $60.2 billion total out of $82 billion Demanded As Senate Approves Bill
-Amazon.com Inc. AMZN -5.09% on Tuesday reported a fourth-quarter profit of $97 million, or 21 cents a share, on revenue of $21.27 billion. During the same period a year ago, the online retailing giant earned $177 million, or 38 cents a share, on $17.43 billion in sales. Analysts surveyed by FactSet had forecast Amazon to earn 28 cents a share on revenue of $22.26 billion. Operating income, considered a key measure of Amazon’s business performance, came in at $405 million, compared with $260 million in the year-ago period. The company forecast first-quarter revenue in a range of $15 billion to $16.6 billion, and expects operational results to be between a loss of $285 million and a profit of $65 million. MW
Doing a good job beating the real inflation rate from the revenue perspective but growth has clearly slowed to the top line. 4Q is the big q for AMZN so they did not have a good Chunnukah season. This is a PEG stock and PEG is not there anymore although its fall is not as bad as APPLs from PEG land.
-1601 ZGR closer
Amazon after the bell, gets crushed on the miss. London is floating a rumor Silver Lake to pay $15 a share for DELL. I moved my stop up on that. It makes sense for the deal to move forward and I think 15 is a fair price. YHOOs blond bimbo finally got smacked by Mr. Market today. She’s a cheap suit and illuminati. Probably a German-Anglosaxon-American with Jewish Mr. Goldman CFO. Not a combination that inspires a lot of trust in me-British-Israel. She should go raise her babies rather than having Mexican wet nurses and mexican house maids. She would be happier and so would the shareholders. Outrageous truth for you of weak and politically correct minds. Neglected kids turn out to be serial murderes, bankers and Stalins. You watch the Jewish female leaders like they always stay home until the kids are ready for college then start their 2nd lives as Zionist fanatics and trouble makers.
Gold and silver closed marginally higher today after the morning slam job by the CME floor traders piggy -backing off the gold cartel. CME floor traders say they are targeting $1627 and the USE is doing great, China is doing great and Europe is fine. I call these guys Temple prostitutes. Granted these guys are upstairs at terminals but they are right there with the Cartels guys on the floor talking every day. Hedge funds that went long on the real QE4 start and the debt ceiling lift are getting their money eaten as the black boxes which are being turned down and into a sellers. Bad time to make a bet with the BOJ targeting 95-100 y/d. The sooner we get to the BOJ target the sooner gold will go up. Another key parameter will be how big of a deficits the USA runs in Jan, Feb, and March and if Bernanke continues to not sterilize the QE4 and lifts their balance sheet to 4 trillion although in time the USA triple deficits will send the dollar to hell no matter if been sterilizes or not.
Oil rose as as Ron Paul said we have another undeclared war going in Mali. The FT let on the Evil English crown were behind it all as they praised the Zionist Hollande who was starting to get heat from the political left and cold feat. Oil price down, Rockefeller-Prince Charles- Saud-Rothschilds start another oil war up to keep the Brent price sky high as production falls. BP got away with murder and a 4 billion dollar sentiment .Veterans today had an article that was probably true about intercepted emails saying Quatar, a ‘royal’ Arab Shiekdom was planning Chemical Weapons WMD false flag to pull the USA into a ground war in Syria and had offered to pay a British Defense firm a fortune to make some Chemical Weapons for them, which I take would go to some Mossad assets. Israel cuts its military budget and is too busy murdering Palestinians and stealing land and launching cyber attacks against the ZGR and Iran to be bothered with the Syrians and Hezbollah especially given their humiliation and defeat. Obama had averred he did not think it was a good idea to get the USA involved in a ground war in Syria , rebuffing the Anglosaxon-Zionist demands out of Davos. So war is good for oil but bad for gold reflecting Londons book to be long Brent through the corner effected by the worlds largest oil trading desk in London, to shore up the deadbeat English economy and massively short gold at the LMBA, with the backstop being the naked shorts on the CME and the call option to cover london shorts by grabbing GLD ETF. Very bizarre stuff to be sure but the way it really works.
Americans taxpayers through pension investment continue to subsidize Italians and other in Europe who don’t work to the tune of a 2 billion dollar loss in FY13 from Ford for European operations which cost Pension holder a much lower dividend and 6 pc stock hit. More Welfare for Europe as VW plans to gut American jobs and send them to Mexico. The ultimate Justice for the fat burgermeisters might be Russia sweeping into Europe as China sweeps into the USA, which is clearly why it wants Americans disarmed now by Obama. Ford certainly does not buy Draghi 2nd half recovery nor are the engineering firms although Phillips results were so bad they were forced to tout it. At best Europe can hope to be flat in 2013 as Axel Weber of UBS said, and that is with a lot more pump priming by the ECB/ESM. The President of FIAT has the right attitude towards Europeans, ‘if you’re not going to work and not buy our cars’, we are leaving for China, the USA, and Eastern Europe. Seniority based unions in Italy and a complete lack of labor reform mean the Italians are not going to give up La Dolce Vita anytime to the detriment of Italians who want a job. The old decimate the young, although at least in Italy everyone lives with Mom an pop until they marry, unlike in the USA.
The MPS scandal was front and center in Italians parliament today as Italy’s finmin closed ranks with the BOI/ECB to cover up the sins and crimes, exposed by BBN freedom of information requests. I watched a replay just before writing it up and Grilli was truly Orwellian: MPS is solid, Italian Banks are solid, the Aid is not a bailout and Draghi was on top of it all but not to blame. Geithner must have coached him and we know Draghi did for sure as the Mario brothers and Draghi had a secret meeting. The only SOP the taxpayers get are some convertible bonds that pay from 9-15 % and convert to shares if MPS defaults.
The other big headline out of Europe was Spains 30 th straight month of declining retail sales and Ollie Rhen the EC head saying maybe they would grant Spain some relief on this years deficits targets which Spain won’t meet anyways. The Bankers simply cant squeeze anymore blood out of the Spanish and the English have enough gardeners and Spanish construction workers.
John Taylor made a timely observation that Greece is getting ready to blow again soon.
As I looked at Earnings in Europe last nite and the USA this morning I was very depressed. Charitably we have harmonized global reflation as the ECB/FED are matching balance sheet expansion and charitably 4 pc real inflation versus the 2 pc report, yet firms revenue in many cases cant even rise 2 pc y/y much less the 4 pc y/y you need to keep pace with inflation. So we have stagnating growth and joblessness in both the USA and in Europe recessions being masked by a lot of fraudulent GDP reporting and inflation; and Worker confidence plunges to a 13 month low and other macro indicators plunge to 5 month lows (FED Philly, Empire State, etc) in the USA and the EU periphery is getting worse. To add to that misery FICO (Fair Issac) the USA credit scorer said USA student loans , 1 trillion worth were likely to collapse. These are high interest 6-7 pc loans. What is in your Bank, Pensions funds portofolio.
I put my money where my mouth is and continued to short sell into the ESM/ECB Dax short squeeze and the SPY short squeeze. We are not far off a correction. Maybe the FOMC will do it or maybe the USA GDP, or maybe Cameron will blow up the EU or try to. But it is sure to come. The Bill Grosses and the Floor traders cant piggyback the FED/ECB/ESM/PPT to the moon with stocks or European Junk bonds (Italy, Spain, etc). The FED looks ready to punish UST shorts here, and that will cost stocks and probably commodities.Too many people betting on reflation before the FED has really started the heavy lifting, although they might be in that process.
I sort of got my wish and the European pols largely shut up as they were busy coordinating the lies around the Italian banks which are as big of an achilles heel and London target as Spanish banks. Obama’s speech was cruel and evil like the man so he ruined my day of relief from the Eurotrash, of which he is one of the foremost- a complete puppet of the English crown. He like Bill Clinton loves to lie. W. Bush was at least ashamed of it. Harry Reid is back to playing god, this a guy who need millions of dollars from the Las Vegas Casino Jews, ran against a stiff and committed massive voter fraud to retain his speaker seat. The WASP royal, and a very corrupt one married the Jewish bankers daughter that is the illuminati core in the USA.
Stocks in Europe and the USA eked up minor games on the PPT/ESM cartel steering algos. You’re largely trading against the Central banks and the Treasury departments and slush funds these days like the ESF of the UST and ESM of the ECB. So you had better have a feel for those crooks.
4:01 p.m. EST 01/29/13Major Stock Indexes
-Senator Reid wants more tax raises. Prince Charles and Rothschilds have actually directed these clowns to crush the middle class with taxes to pay for Europes oil wars and for the illegal immigrant and LGBT/Satanists to destroy the USA with multiculturalism.
-The Lying Magic Negro tells another big one.
Obama: “They all came here knowing that what makes someone American isn’t just blood or birth but allegiance to our founding principles.”
Allegiance to their welfare checks, Obama phones, car and education subsidies and free housing. Most can’t speak any english and furthermore refuse to learn it.
-Greece will probably leave the euro as soon as next month as the government runs out of cash and European institutions fail to lend more to the nation, according to John Taylor of hedge fund FX Concepts LLC.“This summer I think is very likely,” Taylor, founder and chief executive officer of FX Concepts in New York, said today in an interview on Bloomberg Television’s “Inside Track” with Erik Schatzker and Sara Eisen. “The Europeans aren’t going to give them the money, theInternational Monetary Fund’s not going to give them an OK. They will be out of money in June.” BBN
-Obama is intentionally conflating PHD/MS graduate students in engineering who start tech firms up with the 3 rd grade educated illegals, and often drug running, and criminal Mexican immigrant. Reform of Mexicos, property and political structures and abolishing NAFTA and the USA dumping cheap corn on Mexico to kill their ag sector is what is needed. Sorry this man is such an enormous liar, I’m going to turn it off. When your opening paragraph is one massive dissimulation and conflation, it is an insult to give the Magic Negro who hates nativists , bible believer, and constitutionalists anymore of your time. Fine if you want illegals to come in who broke the law we will move them into your neighborhood. Illegal immigration is being used by Prince Charles and the Rothschilds to destroy the USA economically so they can murder much of the population and carve it up and give it the Chinese.
-U.S. to seek UBS records in search for Wegelin tax dodgers
-Libor Lies Revealed in Rigging of $300 Trillion Benchmark
English Pirates Ho!!
-Ron Paul calls US involvement in Mali ‘undeclared war’
-Obama is giving his immigration speech at 1425 in Las Vegas. I won’t be covering it.
-American Cops are not Called Pigs for No Reason, even by PHDs in Science and Engineering
-DARPA’s big eye: 1.8-gigapixel camera for air surveillance unveiledhttp://on.rt.com/k6in4p
- FT: Wider euro ‘Tobin tax’ will net €35bn
-Prince Charles/Jacob Rothschilds praise Stooge /Economy&Child Killer Hollande
Opinion: Mali war casts Hollande in positive light http://on.ft.com/XPKUJf
FT, Rothschilds mouthpiece.
- BP gets away with Murder Cheap
A federal judge has approved a settlement that calls for BP PLC BP +1.42% plead guilty to manslaughter and pay $4 billion in penalties for its part in a 2010 oil spill that wreaked havoc in the Gulf of Mexico, the Associated Press reported Tuesday. The massive leak resulted from an explosion on the Deepwater Horizon oil rig that also killed 11 workers. In November, BP agreed to plead guilty to charges related to the worker deaths and misleading Congress about the scope of the spill. The AP added that Tuesday’s agreement does not cover the U.S. government’s civil claims against the company for environmental damage caused by the spill. BP has already agreed to pay around $7.8 billion to settle claims brought by Gulf Coast residents and businesses. MW
BP stock up 1.5 pc.
-The eurozone banking union is deeply flawed – Hans-Werner Sinn FT
(These globalist whores won’t give up until a Siphon is in the back pocket of every German middle class worker). The problems is the debt and moral hazard and lack of competitive labor laws, and massive vacation nations like Italy take (see Boeing complaint, to paraphrase them, ‘italians only work 3 days a week, japanese work 6 days a week’.
-Sweden Dumping its Youth on Greeks due to Unemployment.
Sweden’s government-funded employment agency on Monday launched a campaign encouraging unemployed Swedish youths to look for summer jobs in crisis-stricken Mediterranean countries including Greece and Spain.
The jobs, most of them in the hotel and entertainment sectors, will mainly serve Swedish tourists.
“We hope our Swedish youths will get every single one of these jobs. These companies have had good experience of young Swedish workers,” said Kristina Gaerdebro Johansson, a European Employment Services (EURES) advisor at the Swedish agency.Hundreds of jobs in Greece, Spain, Italy and Cyprus – all popular tourist destinations for Swedes – will be marketed at a special event organised by the country’s employment agency and EURES in the southern city of Malmoe next week.The positions include football coaches, aerobics instructors and dancers at hotels and resorts around the Mediterranean. Some of the jobs require Scandinavian language skills, but not all of them, said Gaerdebro Johansson.Youth unemployment in Greece and Spain currently stands at more than 50 percent.Although Sweden’s export-driven economy is beginning to feel the effects of Europe’s economic woes, it has posted strong growth since making a quick recovery from the 2008 recession. It also has a low level of government debt.But youth unemployment has remained above the European average, reaching a seasonally adjusted 23.9 percent in December.Sweden’s employment agency is offering to reimburse those who want to travel to the Mediterranean job fair from other parts of the country.
One in three Greek families are considering moving abroad due to the repercussions of the debt crisis, according to the results of a survey carried out on primary and secondary school pupils.
-Global Financial Kingpin , and JPM man, Stanley Fisher to leave Bank of Israel .
The Governor of the Bank of Israel, Stanley Fischer, today informed the Prime Minister, Mr. Benjamin Netanyahu, of his intention to step down on June 30, 2013, after more than eight years as Governor.The Governor noted that in addition to the goal of advancing the Israeli economy, one of his primary goals he had set himself was passing a new Bank of Israel law. That was done in May 2010. Since then, the Bank has operated successfully within the framework of the new law, especially through the work with the Monetary Committee and the Supervisory Council.The Governor said that in the coming months he will continue to deal fully with all matters pertaining to the Bank.Prof . Fischer added that he is extremely grateful for the opportunity he has been granted by the Government of Israel to fulfill the task of Governor, especially during a challenging period that included the global economic crisis, a complex geo-political reality, and domestic social issues.The Governor thanks the Prime Minister, the Minister of Finance, the Chairman of the Finance Committee of the Knesset, the Members of the Monetary Policy Committee, the Supervisory Council and the management and staff of the Bank of Israel for the privilege of working with them during his term as Governor. The Governor will hold a press conference tomorrow, Wednesday, January 30th, at 11:00 AM, at the Bank of Israel.
Bank of Israel press release
-Land Registry: UK house prices +1.7% in 2012, fastest rate for more than 2 years; London +8.4% but NW England -3.5%
-Italian Finance Minister Grilli said MPS was under intensive supervision by the Bank of Italy,( implicating Dracula Draghi). Grilll says MPS financial Gap due to Italian Bonds. (very doubtful given intervention and buy down). Italian Finance Minister Grilli says the EBA stress test was correct, also about MPS. Grilli said supervision of Monte Paschi and shareholder foundation by Bank of Italy was appropriate and attentive. Grilli said vigilance and oversight of MPS was continuous.Grilli said he had no doubt about solidity of Italian banking system. Grilli says the intervention over MPS are not a state aid for the bank, but the main target is to preserve the Italian depositors(lie). Italian Press. F. Goria Daily
-Overdue US Student Loans Reach ‘Unsustainable’ 15%; Subprime mortgage delinquencies reached 15% in mid 2007: Fair Isaac Credit Says
- US Household Debt has Fallen by $833 billion since 2008 largely through defaults
-Chinese banks have rolled over at least 3/4 of all loans to local govts that were due to mature by end of 2012. FT
-Corrupt Fitch Fitch Affirms Four Large Italian Banks Intesa, U
nicredit, UBIbanca BancoPopolare (I wonder what Regling paid for that with his slush fund?) in wake of Massive 5.3 Billion Monte Paschi Loss/Recap . Yeah, yeah, their books are clean like HSBC, and Citi and BACs.
|DJ Transportation Average||5867.81||-7.75||-0.13|
|DJ Utility Average||472.87||3.62||0.77|
|DJ Composite Average||4765.60||16.12||0.34|
|DJ Total Stock Market||15710.86||47.14||0.30|
|DJ Broad Stock Market||3735.25||11.26||0.30|
|DJ Large-Cap Growth TSM||3645.03||5.51||0.15|
|DJ Large-Cap Value TSM||3228.22||17.84||0.56|
|DJ Mid-Cap Growth TSM||5838.31||-8.57||-0.15|
|DJ Mid-Cap Value TSM||5203.09||12.94||0.25|
|DJ Small-Cap Growth TSM||5113.36||-16.17||-0.32|
|DJ Small-Cap Value TSM||6609.03||-3.42||-0.05|
|DJ Micro-Cap TSM||8202.35||12.19||0.15|
|DJ Select REIT||222.40||0.32||0.14|
|DJ U.S. Select Dividend||432.31||2.38||0.55|
|S&P 400 Mid-Cap||1094.48||-0.51||-0.05|
|S&P 600 Small-Cap||507.21||-0.62||-0.12|
|S&P 1500 SuperComp||348.86||1.24||0.36|
|NYSE Health Care||8513.24||83.49||0.99|
|NYSE Arca Biotech||1677.70||2.41||0.14|
|NYSE Arca Pharmaceutical||396.87||4.65||1.19|
|NYSE Arca Tech 100||1364.34||-13.69||-0.99|
|NYSE Arca Internet||354.12||-3.88||-1.08|
|NYSE Arca Sec. Broker/Dealer||103.67||1.18||1.15|
|NYSE MKT Composite||2413.71||13.34||0.56|
|Morgan Stanley High Tech||720.94||-11.62||-1.59|
|PHLX Housing Sector||191.20||3.15||1.68|
|PHLX Oil Service||246.83||0.50||0.20|
-1311 Global Major Stock Indexes
|DJ Global Total Stock Market||2798.37||13.87||0.50|
|DJ Global exUS TSM||2201.70||13.97||0.64|
|DJ Asia-Pacific TSM||1349.60||10.90||0.81|
|China: Shanghai Composite*||2358.98||12.47||0.53|
|Hong Kong: Hang Seng*||23655.17||-16.71||-0.07|
|India: BSE Sensex*||19990.90||-112.45||-0.56|
|Japan: Nikkei Average*||10866.72||42.41||0.39|
|Stoxx Europe 600*||290.30||0.94||0.32|
|France: CAC 40*||3785.82||4.93||0.13|
|Italy: FTSE MIB*||17891.91||-5.50||-0.03|
|Sweden: OMX Stockholm*||361.92||0.22||0.06|
|UK: FTSE 100*||6339.19||44.78||0.71|
|DJ Americas TSM||3917.02||14.72||0.38|
- Nucor Corp.NUE -0.15% said Tuesday its fourth-quarter profit remained about flat at $136.9 million, or 43 cents a share, compared to $137.1 million, or 43 cents a share, in the year-ago period. The steel company’s revenue dropped 8% to $4.45 billion as the average sales price per ton fell 4%. Wall Street analysts expected Nucor to earn 31 cents a share on sales of $4.54 billion, according to a survey by FactSet. Total tons shipped to outside customers were 5.48 million tons, down 4%. Shares of Nucor dropped 0.3% in premarket trades. WSJ
-YHOO: Yahoo YHOO -2.73% shares fell a day after the company reported better-than-expected fourth-quarter earnings of $272.3 million, or 23 cents a share. Analysts polled by FactSet were expecting a profit of 27 cents a share.
-F: : Shares of Ford Motor Co. tumbled 5.8% on Tuesday after the auto maker predicted its European operations will lose about $2 billion in 2013. Ford’s F-Series accounts for 90% of the company’s global auto profits!
-AMZN: Amazon.com AMZN -2.06% shares slipped ahead of its quarterly earnings release after the bell. The Internet retailer is projected to report fourth-quarter earnings of 27 cents a share on $22.26 billion in sales, according to a FactSet survey.
-Hess Corp. HES +8.87% shares climbed 9.7% as Elliott Management Corp., which owns 4% of the company, called for a management shake-up, blaming the board of directors for poor oversight. Elliott also recommended that the oil company spin off its Bakken holdings and its retail and marketing operations and exit other businesses.
-BTU: Shares of Peabody Energy Corp. BTU +5.53% added 6.8%. The coal producer said it swung to an adjusted loss of $1.12 a share from a profit of 98 cents a share in the year-ago period. However, revenue totaled $2.02 billion, beating estimates. Analysts surveyed by Thomson Reuters had forecast earnings of 25 cents a share on revenue of $1.93 billion
-EMC Corp. EMC -4.76% shares declined 5% on a weak outlook. The company, which sells data-center products, forecast adjusted earnings of $1.85 a share compared with $1.90 a share predicted by analysts in a Thomson Reuters poll
-VLO: Valero Energy Corp. VLO +10.15% shares gained 8.5% as it reported better-than-expected fourth-quarter results. The independent refiner posted a profit of $1.01 billion, or $1.82 a share, compared with $45 million, or 8 cents a share, in the same period a year ag
I will write the EU close with the USA closer.
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50*||2671.94||15.28||0.58|
|Stoxx Europe 600*||290.30||0.94||0.32|
|Euro Stoxx 50*||2749.27||4.77||0.17|
|Austria: ATX Index*||2460.65||1.43||0.06|
|Denmark: OMX Copenhagen 20*||539.49||0.46||0.09|
|Estonia: OMX Tallinn*||770.04||-3.89||-0.50|
|Finland: OMX Helsinki*||6126.77||11.54||0.19|
|France: CAC 40*||3785.82||4.93||0.13|
|Greece: Athens General*||1005.28||-8.51||-0.84|
|Greece: DJ Greece TSM*||759.53||-5.94||-0.78|
|Greece: FTSE/ATHEX 20*||338.38||-2.67||-0.78|
|Iceland: OMX Iceland All-Share*||742.17||0.92||0.12|
|Ireland: ISEQ Overall *||3556.01||1.51||0.04|
|Italy: FTSE MIB*||17891.91||-5.50||-0.03|
|Latvia: OMX Riga*||401.37||0.18||0.04|
|Lithuania: OMX Vilnius*||376.49||0.76||0.20|
|Norway: OSE All-Share*||516.13||0.61||0.12|
|Portugal: PSI 20||6279.53||-3.02||-0.05|
|Russia: DJ Russia Titans*||6657.42||-60.52||-0.90|
|Spain: IBEX 35*||8643.00||-29.50||-0.34|
|Sweden: OMX Stockholm*||361.92||0.22||0.06|
|Switzerland: Swiss Market*||7458.03||-25.92||-0.35|
|UK: FTSE 100*||6339.19||44.78||0.71|
|UK: FTSE 250*||13107.56||-24.93||-0.19|
|UK: FTSE AIM All-Share*||736.98||-2.45||-0.33|
German 10y 1.69-0.01, 0.54%
Italy 10yr 4.13-0.03, 0.74%
Spain 10yr 4.93-0.07, 1.37%
U.K. 10yr 2.09-0.02, 0.79%
(IT) Italy Debt Agency (Tesoro) sold €8.5B vs. €8.5B indicated in 6-month Bills; Avg Yield 0.0731% v 0.949% prior; Bid-to-cover: 1.65x v 1.57x prior
(CH) Switzerland sold CHF771.2M in 3-Month Bills: Yield: -0.087% v -0.103% prior
12:42 p.m. EST 01/29/13Major Stock Indexes
-USA Workers Disagree with Bernanke/WS -Confidence Tanks
A gauge of consumer confidence dropped in January to the lowest level since November 2011 on lower expectations and gloomier views of the present situation, according to data released Tuesday. The Conference Board said its consumer-confidence index dropped to 58.6 in January, missing analysts’ estimates of 64.3, from an upwardly revised 66.7 in December. A prior December estimate pegged the level at 65.1. “Consumers are more pessimistic about the economic outlook and, in particular, their financial situation,” said Lynn Franco, economic indicators director at the Conference Board. “The increase in the payroll tax has undoubtedly dampened consumers’ spirits and it may take a while for confidence to rebound and consumers to recover from their initial paycheck shock.” Generally when the economy is growing at a good clip, confidence readings are at least 90. The Conference Board’s barometer of consumers’ expectations fell to 59.5 in January from 68.1 in December. The expectations gauge has dropped 30% in the last few months, with protracted fiscal negotiations among U.S. lawmakers taking a toll, among other factors. Meanwhile, the Conference Board’s gauge of views on the present situation dropped to 57.3 in January from 64.6 December.
-Egypt’s army chief said political strife was pushing the state to the brink of collapse – a stark warning from the institution that ran the country until last year as Cairo’s first freely elected leader struggles to contain bloody street violence. Reuters
-European Crooks Get their Lies Straight before Testimony
European Central Bank head Mario Draghi, head of Italy’s central bank until 2011, met Economy Minister Vittorio Grilli to discuss the widening scandal at Monte dei Paschi bank a day before Grilli was due to address parliament on the issue on Tuesday.An ECB spokesman in Frankfurt confirmed the meeting, declining to give any details, but a source with knowledge of the encounter said earlier it was likely they talked about Grilli’s address to a parliamentary committee later on Tuesday. BBN
-933 Major Indexes
|DJ Total Stock Market||15653.58||-10.14||-0.06|
|US Cotton No.2||83.00||+1.95||+2.41%|
|US Coffee C||149.47||+0.03||+0.02%|
-930 USA Markets Open
|Futures Index||Value||% Change||Open||High||Low||Time|
|DJIA INDEX FUTURE Mar13||13,811.00||-0.15%||13,830.00||13,839.00||13,801.00||09:02:34|
|S&P 500 FUTURE Mar13||1,493.50||-0.25%||1,495.60||1,498.70||1,491.20||09:06:41|
|NASDAQ 100 FUTURE Mar13||2,731.50||-0.22%||2,734.75||2,740.25||2,727.50||09:06:5|
-Ford Motor Co. (F), the second-largest automaker, reported fourth-quarter profit that exceeded estimates as demand for its F-Series pickups drove record results for its operations in North America. Ford reported net income of $1.6 billion, or 40 cents a share. Excluding one-time items, the per-share profit was 31 cents, exceeding the 25-cent average estimate of 19 analysts surveyed by Bloomberg. The result compared with net income of $13.6 billion, or $3.40 a share, a year earlier, when a tax gain boosted fourth-quarter earnings. Ford said European losses were wider than forecast and the 2013 deficit would be worse in Europe.Ford reported net income of $5.67 billion for the full year. The profit in 2012 boosts the company’s earnings to $35.2 billion the past four years after losing $30.1 billion from 2006 through 2008.Ford’s fourth-quarter revenue rose 5.5 percent to $36.5 billion, beating the $33 billion average estimate of 11 analysts surveyed by Bloomberg.BBN
-Lakeland Bancorp Inc. LBAI +1.42% said Tuesday it’ll pay $12 a share to buy Somerset Hills BancorpSOMH +1.44% . Lakeland Bancorp expects to issue 5.78 million shares of its common stock in the merger, and will also assume outstanding Somerset Hills Bancorp stock. Shares of Bernardsville, N.J.-based Somerset closed at $9.13 on Monday. MW
-Corning Inc.’s fourth-quarter earnings fell 42% as the maker of television-screen glass reported higher charges related to restructuring, impairment and other items, which masked a jump in revenue.For the quarter ended Dec. 31, Corning posted a profit of $283 million, or 19 cents a share, down from $491 million, or 31 cents a share, a year earlier. Excluding charges tied to asbestos liability, restructuring and other items, per-share earnings rose to 34 cents from 33 cents.Revenue rose 14% to $2.15 billion.Analysts polled by Thomson Reuters were recently expecting a profit of 32 cents a share and $2.07 billion in sales.Gross margin narrowed to 42.3% from 43.7%.Revenue rose 2.6% in the display-technologies segment, which contains the LCD-TV glass operations, as profit was down 25% amid a restructuring and impairment charge. The telecom segment posted 10% higher revenue, and environmental technologies reported 6.4% lower revenue.
- Illinois Tool Works Inc. ITW +0.69% said Tuesday its fourth-quarter profit increased to $979 million, or $2.11 a share, from $442 million, or 91 cents a share, in the year-ago period. Adjusted profit rose to 89 cents a share from 88 cents a share. Revenue fell 2.3% to $4.22 billion. Excluding the impact of divesting units, total revenue would have increased about 2%. Wall Street analysts expected the industrial firm to earn 89 cents a share on sales of $4.16 billion, according to a survey by FactSet. MW
- Shares of Seagate Technology STX +0.43% slipped more than 5% in pre-market trades on Tuesday morning after the disk-drive maker reported a 13% decline in earnings for its second fiscal quarter and issued conservative guidance for the current period. Rob Cihra of Evercore Partners called the results “solid” based on prior expectations, citing “competitive consolidation, good inventory management and limited capex” as drivers for the quarter. But he cut his rating to equal-weight, or neutral, noting that the stock is already above his $35 price target. MW
-USA, SP Case Schiller Home Index: up 5.5 pc y/y for November , below estimates, down .1 pc m/m.
-EUR/USD: France Pres Hollande: EUR at “significant” level.
- EUR/USD: JPM Strategist John Normand said short covering has continued for the euro as traders price out ECB rate cuts.
- Russia’s Premier Medvedev reiterated that the country has no plans to buy any euro zone sovereign debt – DT, AEP
- Greece Govt extends ban on short selling of financial shares through to April 30 – financial press
- Commissioner Rehn: Spain economy to turn the corner in 2013; Could consider relaxing some of the goals for Spain if the economy deteriorates; EU will make assessment of Spain budget targets in February
- UK BoE Miles: UK economy to remain below avg cruising speed for the next year or so – financial press
- Nomura: China Jan export data to be distorted by holiday.
- IMF Dep Dir Zhu Min: Internationalization of CNY has a long way to go. China press
- Germany Industry Association (BDI) forecasted Germany’s economy growing 0.8% in 2013 and saw no need for stimulus measures. German exports up at least 3%.
- German ruling CDU chairman Fuchs stated that the Euro rate was not hurting exporters at current time. He stressed that the debt crisis was not over until primary deficits erased in the Euro Area. He added that France had yet to begin overhaul measures and hoped the next Italian Govt maintained Monti’s reforms. He noted that Cyprus was not a systemic risk for Euro area and saw no near term bailout.
- Poland Central Banker Zielinska-Glebocka commented that a Feb Base Rate cut was “nearly certain” and that more cuts would be likely needed afterwards. She noted that both Q4 2012 and Q1 2013 GDP growth might be below 1%.
- Turkey Central Bank inflation report: To keep flexible and cautious monetary policy stance. (inflation is currently high. 6 pc+)
- IMF commented on Romania and agreed to extend precautionary credit line by two-months. IMF forecasted the country’s 2013 GDP growth around 1.5% vs. 0.0% y/y; CPI was seen slowing to 3.5% in H2 2013 towards upper end of the target band. It noted that Romania did reduce its 2012 budget deficit as planned but missed its cash deficit and arrears target due to technical issues
- India Central Bank (RBI) Gov Subbarao post rate decision press conference noted that the Repo and Cash Reserve (CRR) cuts were taken to ensure policy transmission into lending rates and it did see improvement in global economic prospects. The Gov reiterated there were upside risks to inflation due to food prices (Inflation excluding food prices was about 8%). India’s current account deficit was the largest risk to inflation and macroeconomic management. If inflation and current account deficit moderated there would be room for more Monetary policy action. India PM Economic Adviser Rangarajan commented that the RBI might again cut interest rates further and that the central bank now had a balanced view. India needed to cut the current account deficit and noted that inflation might ease by 1% in FY14
- Japan Ministry of Finance (MOF) stated that the Gov approved FY13/14 General Account budget of ¥92.612T (cuts spending for the first time in 7 years). New JGB issuance expected at ¥42.851T with tax revenues of ¥43.096T. The budget cut new bond issuance y/y and below tax revenues for first time in four years
- Philippines Finmin Purisima: To maintain 2% deficit target for 2013.
- Bank of Korea Minutes showed that the vote to keep rates steady was 6 to 1 in January. Ha Sung-keun was the dissenting member and sought called for a 25-basis-point rate cut citing delayed economic recovery and the rising won. The majority saw improvements in domestic and global economic conditions.
- Taiwan Central Bank commented on the recent weakness in the Japanese JPY currency and noted that a weaker yen helped Taiwan importers cut costs. Taiwan added that it would step into currency market if necessary. JPY currency (yen) decline might discourage Japanese investment in Taiwan.
Economic Release Summary, European Session
(DE) Germany Feb GfK Consumer Confidence Survey: 5.8 v 5.7e
(DE) Germany Dec Import Price Index M/M: -0.5% v -0.1%e; Y/Y: 0.3% v 0.9%e
(FR) France Jan Consumer Confidence Indicator: 86 v 86e
(HU) Hungary Dec Unemployment Rate: 10.7% v 10.7%e
(ES) Spain Dec Adjusted Real Retail Sales Y/Y: -10.7% v -8.9%e; Real Retail Sales Y/Y: -10.2% v -7.8% prior
(TR) Turkey Jan Consumer Confidence: 75.8 v 89 prior
(EU) ECB: €526M borrowed in overnight loan facility vs. €2.0M prior; €211.8B parked in deposit facility vs. €207.2B prior
(PL) Poland 2012 Annual GDP: 2.0% v 2.0%e
(CN) China Dec Leading Index: 100.5 v 100.4 prior
(IC) Iceland Jan CPI M/M: 0.3% v 0.1% prior; Y/Y: 4.2 v 4.2% prior
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50||2662.37||5.71||0.21|
|Stoxx Europe 600||289.25||-0.11||-0.04|
|Euro Stoxx 50||2737.47||-7.03||-0.26|
|Austria: ATX Index||2444.58||-14.64||-0.60|
|Denmark: OMX Copenhagen 20||538.60||-0.43||-0.08|
|Estonia: OMX Tallinn||767.67||-6.25||-0.81|
|Finland: OMX Helsinki||6123.25||8.02||0.13|
|France: CAC 40||3771.10||-9.79||-0.26|
|Greece: Athens General||1001.30||-12.49||-1.23|
|Greece: DJ Greece TSM||752.76||-12.71||-1.66|
|Greece: FTSE/ATHEX 20||337.36||-3.69||-1.08|
|Iceland: OMX Iceland All-Share||744.29||3.05||0.41|
|Ireland: ISEQ Overall||3545.92||-8.58||-0.24|
|Italy: FTSE MIB||17790.58||-106.83||-0.60|
|Latvia: OMX Riga||400.93||-0.26||-0.06|
|Lithuania: OMX Vilnius||376.33||0.59||0.16|
|Norway: OSE All-Share||515.49||-0.03||-0.01|
|Portugal: PSI 20||6249.68||-32.87||-0.52|
|Russia: DJ Russia Titans||6672.86||-45.08||-0.67|
|Spain: IBEX 35||8621.30||-51.20||-0.59|
|Sweden: OMX Stockholm||360.50||-1.20||-0.33|
|Switzerland: Swiss Market||7446.65||-37.30||-0.50|
|UK: FTSE 100||6300.57||6.16||0.10|
|UK: FTSE 250||13061.17||-71.32||-0.54|
|UK: FTSE AIM All-Share||736.53||-2.90||-0.39|
-Greek workers plan further strikes- Union plans 24-hour walkout on Thursday in support of public transport employees
Leading European Union officials have warned Germany it would be a grave mistake to let Cyprus default or to impose losses on private creditors, fearing a repeat of errors made when Greece first flew out of control. DT
-’Look at the a** on her’: Mayor Michael Bloomberg shocks New York with comment about woman’s behind..
-Sandy Hook Actor? Heckled by 2nd Amendment Patriots
Get a load of the freak Connecticut Cop holding up the AR15 which we now know was not used at all in the shootings from forensic analysis of the press and police lies and the random news videos of the event. If you were wondering what type of freak would testify to that lie, there is she is. Amazing yes?
Americans are so skeptical now we doubt anyone died but the ‘Shooter’ and his mother. This guy was not man enough to protect his child but sent the poor child to a ‘gun free ‘ zone run by New World order fanatics or this is just another put up acting job by the NWO and he is an actor. He should shut up. He is a disgrace, either way as a father or as an American or as an Actor.
-C (Citibank) is pumping Greece to the marks. lol. Lmao, rofl.
-Spanish retail sales down -10.7% on the year during December (Nov: -7.8%). Sales have now fallen for 30 months in a row.
-France worker ( consumer) confidence unchanged in Jan. at 86 / prev 86 expected 86.
-For Eurotrash from England.
Press TV: UK defense contractor planning WMD false flag in Syria: Analyst
-328 European stock markets opened slightly higher on Tuesday, with oil firms tracking oil prices higher and banks extending the prior day’s gains. The Stoxx Europe 600 index XX:SXXP +0.14% rose 0.1% to 289.54. Shares of oil group BP PLC UK:BP +0.54% BP +0.96% rose 0.4%, as oil prices climbed closer to $97 a barrel, while Total SA FR:FP -0.83% TOT -0.43% gained 0.2%. Shares of Ericsson LMSE:ERICB +0.29% picked up 0.3% after a broker upgrade, while shares of Royal Bank of Scotland Group PLC UK:RBS -0.92% RBS -0.86% slipped 0.8% after a broker downgrade. Other banks were mostly higher, with BNP Paribas SA FR:BNP +2.14% up 0.3% and Commerzbank AG DE:CBK +0.18% 0.5% higher. Among country-specific indexes, the U.K.’s FTSE 100 index UK:UKX +0.15% picked up 0.1% to 6,299.76, while France’s CAC 40 indexFR:PX1 -0.04% fell 0.1% to 3,777.53. Germany’s DAX 30 index DX:DAX +0.04% was slightly higher at 7,835.51.
|Country: Index||Last||Change||% Chg|
|Stoxx Europe 50||2659.85||3.19||0.12|
|Stoxx Europe 600||289.69||0.33||0.11|
|Euro Stoxx 50||2742.75||-1.75||-0.06|
|Austria: ATX Index||2459.22||-0.16||-0.01|
|Denmark: OMX Copenhagen 20||539.50||0.47||0.09|
|Estonia: OMX Tallinn||772.20||-1.72||-0.22|
|Finland: OMX Helsinki||6136.13||20.90||0.34|
|France: CAC 40||3778.59||-2.30||-0.06|
|Greece: Athens General*||1013.79||-0.74||-0.07|
|Greece: DJ Greece TSM||765.24||-2.64||-0.34|
|Greece: FTSE/ATHEX 20*||341.05||-1.15||-0.34|
|Iceland: OMX Iceland All-Share*||741.24||11.88||1.63|
|Ireland: ISEQ Overall||3551.71||-2.79||-0.08|
|Italy: FTSE MIB||17900.45||3.04||0.02|
|Latvia: OMX Riga||401.95||0.76||0.19|
|Lithuania: OMX Vilnius||375.71||-0.02||-0.01|
|Norway: OSE All-Share||516.62||1.10||0.21|
|Portugal: PSI 20*||6282.55||7.66||0.12|
|Russia: DJ Russia Titans||6720.03||2.09||0.03|
|Spain: IBEX 35||8674.80||2.30||0.03|
|Sweden: OMX Stockholm||361.41||-0.29||-0.08|
|Switzerland: Swiss Market||7457.59||-26.36||-0.35|
|UK: FTSE 100||6302.26||7.85||0.12|
|UK: FTSE 250||13134.92||2.43||0.02|
|UK: FTSE AIM All-Share||740.01||0.58||0.08|
-German GfK Consumer Confidence Survey (Feb) M/M 5.8 vs. Exp. 5.7 (Prev. 5.6, Rev. to 5.7)
-Mining firm Anglo American says it will take a $4bn impairment charge on its Minas-Rio iron ore project in Brazil. Wow. No wonder Cynthia got canned!!
-Sandvik made a net profit of SEK728 million ($113.3 million) for the last three months of 2012, compared with a net profit of SEK731 million for the same period 2011.Revenue amounted to SEK24.33 billion, down from SEK25.10 billion a year ago and higher than the SEK23.73 billion that was the average forecast in a Dow Jones Newswires/Factset survey of 12 analysts. Sandvik said it reduced its workforce by 500 people during the quarter, adding that overall demand was largely on par with the third quarter. WSJ
-300 Europe Opens
French CAC 40 index flat at 3,779.42
FTSE 100 index flat at 6,298.78
Stoxx Europe 600 index up 0.2% to 289.82
German 10y 1.68-0.02, 1.13%
Italy 10yr 4.20+0.04, -0.94%
Spain 10yr 5.05+0.05, – 1.03%
|US Cotton No.2||82.35||+1.30||+1.60%|
|US Coffee C||149.45||+1.23||+0.83%|
-255 Asia Closing Prices
-Ericsson lifted to buy from hold: Deutsche Bank
-Goldman Sachs Says Sell RBS from Neutral
-South Korean steelmaker Posco said Tuesday its fourth-quarter net profit plunged 45% from a year earlier as higher raw material costs and lower product prices cut into the bottom line.”Prices of iron ore started to rise after hitting the bottom in October,” a company spokesman said by telephone. “In addition, orders from shipbuilders and home appliances makers remained weak, weighing down quarterly outcome.”Consolidated net profit fell to 561 billion won ($515 million) for the three months ended Dec. 31 from 1.020 trillion won a year earlier, the company said in a statement.The figure was lower than the average forecast of 663 billion won by eight analysts surveyed by The Wall Street Journal.Operating profit declined 43% to 581 billion won from 1.018 trillion won, while sales were down 19% to 15.068 trillion won from 18.688 trillion won, said the statement.The spokesman said an appreciation in the South Korean won had helped to lower import costs of raw materials, such as iron ore and coal.Posco derives 40% of its total revenue from overseas but the impact of the won’s strength is being offset by higher import volumes, said the spokesman. Posco is the world’s fourth-biggest steelmaker by output at the end of 2012. WSJ
-Racist Jewish Government in Israel
Israel’s health ministry has admitted to injecting Ethiopian Jewish women on their way to Israel with a birth control drug. It follows increasing publicity to the claim that it was administered without patient consent in a population control bid. RT
Shades of the Josef Mengele
-Russia Silences Foreign (Jewish ) Agent in their Press
We need a similar law to stop the England and Israel Uber Alles triple citizens as well like Peirs Morgan.
-Anyone think these lunatic leaders in the EU can quit fighting, sniping, back-biting and out quisling each other for one day and by the time I get up, there won’t be one European Politician who did not open his or her mouth to speak lies or implied violence? . The USA needs to exert a lot more influence over and in Europe to settle this, given we pay so many bills and to stop having London/EU (and Israel) drive the USA. For that we would need another JFK as the same greasy relatives that are running Europe are running the USA behind our magic Negro. I’m sure if Prince Charles really had his way Peirs Morgan would rule us, rape our young boys, and put the rest of us to the rack and go shopping with our corrupt females and get his nails done and watch the torture on his cell phone while playing with himself. And that is probably and understatement of these sick evil English elites.
-USA and European Trading day Ahead
In Europe today, reports may show retail sales in Spain declined in December from a year earlier, a French consumer confidence measure was unchanged from its December reading, and a German import price index may have fallen last month for the third time in the past four months, surveys of economists showed , at least that is economists expectations. In the U.S. the S&P Case-Shiller may show home prices in November posted their biggest year-on-year advance since August 2006, while consumer confidence as measured by the New York- based Conference Board likely weakened in January for a third straight month, surveys showed.
The FOMC meeting begins. Federal Reserve Chairman Ben S. Bernanke’s latest round of bond buying will reach $1.14 trillion before he ends the program in the first quarter of 2014, according to median estimates in a Bloomberg survey of economists.Bernanke will push on with purchases of $40 billion a month of mortgage bonds and $45 billion a month of Treasuries, according to the survey of 44 economists, even as some Fed officials warn his unprecedented balance-sheet expansion will impair efforts to tighten policy when necessary. BBN
-Philips Electronics said Tuesday that it expects a slow start to 2013 for its sales, which will pick up in the second half of the year, after reporting a deeper net loss in the three months to end-December from a year earlier largely due to a restructuring charge and a 509-million-euro ($682 million) fine for price fixing.At the same time, Philips announced the transfer of its audio, video, multimedia and accessories business to Funai Electric Co. for EUR150 million in cash and a brand license fee.The Dutch industrial group said its fourth-quarter net loss was EUR358 million compared with a EUR160 million loss in the fourth quarter of 2011.Philips had previously warned that it would take a restructuring charge of EUR380 million for its current cost savings program as well as book a fine for market manipulation in the European television sector dating back to the 1990s. A year earlier, a EUR272 million loss on the sale of its television business pushed the group into the red.Earnings before interest, taxes and amortization rose 50% to EUR875 million on a 7% rise in revenue to EUR7.16 billion.Philips–whose products range from hospital equipment to lighting products and electric toothbrushes–continued to benefit from strong growth in emerging markets which outweighed flat development in mature markets.”The challenging economic environment in 2012, notably in Europe and the United States, has impacted our order book, and hence we expect our sales in 2013 to start slow and pick up in the second half of the year,” said Chief Executive Frans van Houten.”We remain confident in our ability to further improve our operational and financial performance, enabling us to achieve our 2013 financial targets,” said Mr. Van Houten.Mr. Van Houten, who took the helm at Philips almost two years ago, has set a target of EUR1.1 billion in savings by 2014. At end-2012, Philips had realized EUR471 million in savings.Philips said it is sticking to its 2013 targets. The group is aiming for revenue growth of 4% to 6% and a 10% to 12% margin for earnings before interest, tax and amortization.Philips said healthcare order intake grew 4% in the fourth quarter and that comparable sales also grew 4%. At consumer lifestyle, comparable sales grew 2%, while at lighting, it was 4%.Philips’s U.S.-based competitor, General Electric (GE), posted a strong fourth quarter in its healthcare activities with 7% growth in its order intake. In contrast, Germany’s Siemens AG said its orders for healthcare equipment fell 1% in the same period.Philips has been restructuring its portfolio of assets to make it less dependent on cyclical businesses and consumer markets, focusing on healthcare and well-being products instead. MW
|Futures Index||Value||% Change||Open||High||Low||Time|
|DJIA INDEX FUTURE Mar13||13,842.00||+0.07%||13,824.00||13,845.00||13,820.00||02:00:46|
|S&P 500 FUTURE Mar13||1,497.70||+0.04%||1,495.60||1,498.70||1,494.40||02:01:53|
|NASDAQ 100 FUTURE Mar13||2,738.75||+0.05%||2,734.75||2,740.25||2,733.75||02:00:4|
|FTSE 100 IDX FUT Mar13||6,265.00||+0.07%||6,263.00||6,270.50||6,262.00||01:58:30|
Asian stocks were mixed but largely up, while oil, copper, gold and silver climbed, as reports signaled improving business confidence in the region and orders for U.S. durable goods topped estimates. RBI cutting rates by 25 BPs to 7.75 % and also cutting the CRR by 25 BPs to 4 % helped boost the session gains.
In Japan Economic Minister Amari deflected the ECB/Korean Davos harping saying the Japanese Yen currency was responding to deflation fighting. The Y/D traded at 90.78 after touching 91 and backed off the 122 Y/Euro level. Japanese banks stocks lead the Japan markets higher, with the Nikkei finishing up 0.4% at 10,866.72. The USA and Japan are set to meet over North Korea. And the Japanese battery manufacturer,Yusasa the brunt of the corrupt MSM’s ire, was given a preliminary exoneration by the USA and Japanese government as the cause of the B787 fire. The focus is now on the Japanese maker of the battery monitor and fail-safe controller although preliminary investigations revealed nothing due to circuit board damage. Japan is making behind the scene moves to expedite USA LNG export approval to replace the lost Fukushima nuclear power and to exploit very low USA LNG prices.Shares in Japan’s third-biggest bank Mizuho Financial Group climbed 3%, stocks of the nation’s largest lender Mitsubishi UFJ Financial Group advanced 3.75%, while Sumitomo Mitsui Financial Group jumped 4.4%.
In China Premier Xi started his anti-corruption campaign with disbarment of Communist party officials, minor arrest and measure to limit the party side. China opened up its other offshore Yuan trading center in Shenzhen. China reported they were under-reporting their trade imbalance with the USA by less now. The Shanghai composite was up .12 pc and the Hang Seng was down -.05 pc ,(the Shanghai Composite rallied to close +.53 update) . China’s biggest lender lost 2% on news that Goldman Sachs was looking to sell USD1 billion worth of the bank’s stock at a 3% discount to Monday’s closing price.
New Zealand was down .1 pc despite a greatly improved trade report for December. The ASX was up 1.07 % boosted by stronger than expected NAB confidence numbers. The Kospi was up 1.1 pc on an improved manufacturing business survey and stronger Won. The TAIEX was up 1.13 pc, and the Straight Times of Singapore was down .1 pc.
Economic Release Summary Asia Trading Session
(IN) INDIA CENTRAL BANK (RBI) CUTS REPO RATE BY 25BPS TO 7.75%; AS EXPECTED; CUTS CASH RESERVE RATIO (CRR) BY 25BPS TO 4.00%; NOT EXPECTED
(NZ) NEW ZEALAND DEC TRADE BALANCE (NZ$): +486M V -105ME (first surplus in five months; biggest surplus since May 2011); TRADE BALANCE YTD: -1.2B V -1.9BE; EXPORTS: 4.1B V 4.0BE; IMPORTS: 3.6B V 4.1BE
(AU) AUSTRALIA DEC NAB BUSINESS CONDITIONS: -4 V -6 PRIOR; NAB BUSINESS CONFIDENCE: +3 V -9 PRIOR (four month high)
(AU) AUSTRALIA NOV CONFERENCE BOARD LEADING INDEX: -0.2% V +0.2% PRIOR
(JP) Japan Jan Small Business Confidence: 44.3 v 43.8 prior
(KR) SOUTH KOREA FEB BUSINESS SURVEY – MANUFACTURING: 72 V 70 PRIOR; NON-MANUFACTURING: 70 V 68 PRIOR
Key Asian Stocks
AUO: AU Optronics and Innolux expected to show q/q Rev declines in Q1 -DigTimes
LLC.au: Awarded A$364.5M contract to build 3,500 student apartments across England
YAL.AU: Closed two Queensland coal mines due to heavy rainfall – SMH
LEI.AU: Started construction on Wynn Cotai project in Macau
FCG.NZ: China’s General Administration of Quality Supervision has requested a detailed risk assessment report from Fonterra after chemical residue was found in dairy product this weekend
Hino Motor: May report 9-month Op profit ¥43B (record) +100% y/y, Rev ¥1.1T +20% y/y – Nikkei News
NTT DoCoMo 9437.JP: May report 9-month op profit -9% y/y approx ¥675B, 9-months Rev seen +5% y/y approx ¥3.32T – Nikkei News
Mitsubishi UFJ 8306.JP: May report 9-month net income approx ¥500B, -40% y/y – Nikkei News
Mizuho 8411.JP: May report 9-month net income at approx. ¥400B, +50% y/y – Nikkei News
|US Cotton No.2||81.88||+0.54||+0.66%|
|US Coffee C||149.45||+1.23||+0.83%|
Japan 10yr 0.77+0.01, – 1.36%
U.S. 10yr 1.98+0.02, – 0.94%
|AUT CDS 5-YR||44.00||-0.12||-0.27%|
|BEL CDS 5-YR||74.67||-0.17||-0.23%|
|CHN CDS 5-YR||173.57||19.34||12.54%|
|DEN CDS 5Y||31.00||0.525||1.72%|
|DUBAI CDS 5Y||210.00||-1.39||-0.66%|
|EGY CDS 5Y||460.00||-5.00||-1.08%|
|FIN CDS 5YR||29.50||0.155||0.53%|
|FRANCE CDS 5YR||85.325||-0.125||-0.15%|
|GER CDS 5YR||41.00||0.19||0.47%|
|GRE CDS 5YR||4485.2998||55.10||1.24%|
|HUN CDS 5YR||275.83||0.83||0.30%|
|INA CDS 5-YR||136.405||-2.26||-1.63%|
|IRE CDS 5Y||187.88||-1.71||-0.90%|
|ITA CDS 5YR||241.565||0.81||0.34%|
|JPN CDS 5YR||74.15||0.15||0.20%|
|KOR CDS 5YR||65.00||-0.25||-0.38%|
|NED CDS 5YR||50.17||-0.005||-0.01%|
|PAN CDS 5-YR||92.00||—||UNCH||0%|
|POR CDS 5-YR||386.61||-2.075||-0.53%|
|SVK CDS 5YR||93.25||—||UNCH||0%|
|ESP CDS 5YR||259.66||-0.015||-0.01%|
|SWE CDS 5-YR||18.50||0.355||1.96%|
|SUI CDS 5Y||40.00||—||UNCH||0%|
|UK CDS 5Y||47.83||-0.43||-0.89%|
|US CDS 5Y||41.65||-0.425||-1.01%|
-U.S. authorities are pushing for a settlement of interest-rate-rigging allegations with Royal Bank of Scotland that would result in a unit of the big British bank pleading guilty to criminal charges in addition to paying a penalty. WSJ
(What a joke, ‘criminal charges” for a corporation. Who goes to Jail, the logo or ticker symbol?)
-U.S. to Expand Role in Africa
The U.S. signed an agreement with Niger that clears the way for a stepped-up American military presence on the edges of the conflict in Mali. WSJ
-(JP), Japan and Canada to ask N. Korea to not conduct Nuclear Tests. Japan and USA to meet to discuss N. Korea nuclear test. (JP) Boeing B787 battery maker Yuasa given preliminary okay in Battery Li-ion quality/mfg by USA/Japan. (JP)Apple Said to Move Its Tokyo Headquarters to Roppongi Hills . (JP) The government is set to adopt a 92.6 trillion yen budget for the fiscal year starting in April, at a cabinet meeting Tuesday evening.(JP) Abe to visit Okinawa to smooth Local/USA military tension this weekend. (JP) Japan’s economic minister Amari once again attempted to deflect harping incurred at the Davos summit against Japan engaging in a currency war, stating the world should understand the decline in JPY is not manipulation but result of efforts against deflation. (JP) Japan’s LDP-New Komeito ruling coalition expects to win majority in the summer Upper House Diet elections – Nikkei, Japan Times , Manichi.
-(CH) China’s Communist Party yesterday promised to “deal with unqualified members in a timely way”-a handful of Party members are “corrupt and degenerate’ and is looking at limiting the size of the party to better control corruption. (CH) Offshore yuan lending starts in Shenzhen: first offshore yuan lending program in Shenzhen’s Qianhai started yesterday when 15 banks in Hong Kong agreed to lend 2 billion yuan to lend 2 billion yuan (US$321 million) to companies registered in the area, to foster competition between Shenzhen and Shanghai for international Yuan dealing taking another step, slowly towards floating the Yuan. (CH) A Japanese delegation, which includes a former prime minister, arrived in Beijing on Monday to discuss tension over the Diaoyu/Senkuku Islands. (CH) China’s monetary stance in 2013 will be “neutral” to reduce financing costs among companies and stabilize money supply, said the State Information Center in an article published on the China Securities Journal on Monday.”This year, the government will maintain the necessary increase of money supply and market liquidity through yuan holdings for purchasing foreign exchange, central bank bills and open market operations,” it said, adding that the proportion of direct financing to the total social financing will rose continuously.(CN) Analysts said China’s missile interception test will help Beijing strengthen its air defense capability amid strained relations with some of its Asian neighbors. (CN) Yi Gang, a vice governor of China’s central bank, told Xinhua, ”It is the basic policy of the People’s Bank of China to let the renminbi compete with US dollar or euro fairly in the international market.” (CN) Shanghai is expected to attract 150 more foreign multinationals’ regional headquarters by 2020 — in addition to the 403 today — as it also works to nurture more domestic multinationals, Acting Mayor Yang Xiong said in the Report on the Work of the Government at the first session of the 14th Shanghai Municipal People’s Congress on Sunday. (CN) China’s securities regulator published provisional rules for the operation of gold exchange-traded funds, or ETFs, on Friday.(CN)Chinese leader Xi Jinping has urged all official organs to keep a frugal lifestyle and resolutely oppose extravagance. (CN) Top Chinese legislator Wu Bangguo and senior Russian parliamentarian Valentina Matvienko pledged to strengthen bilateral ties during a meeting on Monday. (CN) China lacks quality environment assessment agencies, according to a government report issued on Monday.(CN)An official in south China’s Guangdong Province has been expelled from the Communist Party of China (CPC) for violating CPC discipline and accepting large bribes. Lu Yingming, deputy director of the provincial land and resources department, is suspected to have both abused his power for personal gain and accepted large bribes in separate incidents, sources from the provincial disciplinary inspection commission said on Tuesday.(CN) China will remain on a path of peaceful development and take a more active posture in international affairs, said Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee. (Cn)Wu Bangguo, China’s top legislator, on Monday called for closer inter-parliamentary cooperation in the Asia-Pacific region and expounded on China’s domestic and foreign policy at the 21st annual meeting of the Asia-Pacific Parliamentary Forum. (Cn) Goldman Sachs Group Inc. (GS) raised about $1 billion from selling a stake in Industrial & Commercial Bank of China Ltd. after the world’s largest lender by market value rose almost 50 percent from last year’s low.(CN)The statistical discrepancy in trade between China and the United States has been declining continuously, according to a recent report issued jointly by China’s Ministry of Commerce and the US Commerce Department.The percentage of eastbound (China exports and US imports) and westbound statistical discrepancies was generally consistent in the years 2008, 2009 and 2010, and were lower than the discrepancies for the years analyzed in the previous study (2000, 2004 and 2006). The rate of discrepancy in eastbound trade remained steady from 25.3 percent to 25.5 percent, then decreased to 22.4 percent in the years 2008, 2009 and 2010; in westbound trade, it decreased from 12.2 percent to 10.2 percent, then to 10.0 percent in the same time frame, the report said. (CN)Chinese banks saw their total assets rise 17.7 percent year on year to 131.27 trillion yuan (20.9 trillion U.S. dollars) at the end of 2012, the latest official data showed.The growth was slightly slower than the 18.3-percent growth rate recorded a year earlier, according to figures from the China Banking Regulatory Commission (CBRC). The banks’ liabilities reached 122.63 trillion yuan, up 17.5 percent year on year, compared with an increase of 18 percent a year earlier, the CBRC said on its website.Smaller lenders, including joint-stock commercial banks and city commercial banks, posted annual growth of more than 20 percent for both assets and liabilities, more than double the expansion rate of large-sized lenders.Big banks accounted for 44.1 percent of the banking industry’s total assets and 44 percent of its total liabilities at the end of last year, both down from 46.6 percent a year earlier.Five banks were categorized as large-sized lenders in the CBRC’s calculations, namely the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, the China Construction Bank and the Bank of Communications. (CN) Economist with China’s National Development and Reform Commission (NDRC): China urbanization and the accompanying investment and consumption may add 3.5-6.8% to GDP over the next 10 years. (CN) According to Shanghai Deovolente Realty Co, Shanghai new home sales last week (ex govt-subsidized) rose 19.2% to 246.9K sqm; Avg price rose 8.1% to CNY25.5K/sqm . (CN) China Commerce Min (MOFCOM) Deming: China grain supply in tight balance with demand; Urbanization “squeezing room” for increase.(CN) China state council: Looking to ensure vegetable price stability, will boost supply in order to try and keep prices more stable ahead of Lunar New Year
Xinhau, Shanghai Daily, China Daily, Bloomberg, New York Times, Reuters
-Iran has denied foreign media reports of a major explosion at one of its underground uranium enrichment sites.The deputy head of Atomic Energy Organisation of Iran (AEOI) called the reports “Western propaganda” designed to influence forthcoming nuclear talks.Reports in Israeli and Western media said a blast at the Fordo facility near Qom had caused significant damage.Meanwhile, Russia has criticised the West and Iran for a fresh delay to the talks, six months after the last round. BBC
-President Vladimir Putin has dismissed the leader of Russia’s most troubled region, Dagestan, where an Islamist insurgency is raging.Magomedsalam Magomedov was named president of the republic in 2010 but has been unable to rein in the unrest. He has been moved to a job in the Kremlin. Ramzan Abdulatipov, an MP from the ruling United Russia party, takes over as acting president of Dagestan.Political assassinations, bombings and gunfights are regular events there.The region has taken over from neighbouring Chechnya as Russia’s most volatile province.Islamist groups have vowed to make Dagestan part of an Islamic caliphate stretching across the North Caucasus. However, analysts say criminal gangs are also behind much of the violence. BBC
-USA After Hours
VMW: Reports Q4 $0.81 v $0.78e, R$1.29B v $1.28Be; -14.6% afterhours
BMC: Reports Q3 $0.99 v $1.02e, R$580.2M v $586Me; -7.2% afterhours
STX: Reports Q2 $1.38 v $1.27e, R$3.67B v $3.57Be; Guides Q3 R$3.25-3.45B v $3.45Be; Q3 GMs seen at low end of 27-32% long-term range – conf call; -4.8% afterhours
CR: Reports Q4 $0.92 (includes items) v $0.97e, R$629.8M v $645Me; +0.8% afterhours
YHOO: Reports Q4 $0.32 v $0.28e, R$1.22B v $1.21Be; +3.2% afterhours
-Retailers in 40 U.S. states can now charge up to 4 percent extra when consumers pay for goods and services with a credit card.
These so-called “checkout fees” went into effect January 27, and do not apply to debit card payments. The fees are illegal in California, New York, Texas and seven other states.It is up to individual businesses to decide whether or not to add the fee. They also need to disclose it to consumers.The surcharge is the result of the biggest anti-trust settlement in U.S. history. In 2005, a group of merchants claimed that MasterCard, Visa, and nine other companies including JP Morgan Chase & Co conspired to fix the fees that stores pay to accept credit card purchases.After years of negotiations the case, which was in the U.S. District Court for the Eastern District of New York, settled. The credit card companies and banks agreed to pay $6 billion to the merchants who sued.
As part of the settlement, the merchants are allowed to charge customers a fee equal to the cost of accepting cards, typically 1.5 percent to 3 percent of the purchase price.”While it is legal to charge extra, there are still limitations,” said Kathy Li, the San Francisco director of Consumer Action, a consumer advocacy agency. “For example, what kind of cards can be charged? What cards can’t be charged?”To avoid the surcharge, consumers can pay with cash or debit cards. And when shopping online, “there’s always PayPal or other electronic payment options that can’t charge extra,” said Li. Reuters
-Why don’t we just give Bloomberg, Cuomo and Christie, 1 trillion while were at it. East Coast greed and rape of the rest of the country knows no bounds. Nothing on who gets what, how it is tracked and when they pay it back, which I assume is ‘never’. Reward for the deadbeats with no flood insurance to get new million dollar homes from the rest us, at least along as they are a Friend of a Shyster like Cumo, Christie or Bloomberg.
-Scripture for Meditation
Thou hast granted me life and favour, and thy visitation hath preserved my spirit.
Job, 10-12, KJV
-Time Cur. Imp. Event Actual Forecast Previous
00:30 INR Indian Interest Rate Decision 7.80% 8.00%
02:00 EUR German Import Price Index (MoM) -0.2% 0.0%
02:00 EUR GfK German Consumer Climate 5.7 5.6
02:45 EUR French Consumer Confidence 86 86
03:00 EUR Spanish Retail Sales (YoY) -8.9% -7.8%
Tentative EUR Italian 6-Month BOT Auction 0.949%
08:55 USD Redbook (MoM) -0.40%
09:00 USD S&P/CS Home Price Indices Composite – 20 (YoY) 5.5% 4.3%
10:00 USD CB Consumer Confidence 64.0 65.1
11:30 USD 4-Week Bill Auction 0.060%
13:00 USD 5-Year Note Auction 0.769%
16:30 USD API Weekly Crude Stock 2.60M 3.17M
16:30 USD API Weekly Gasoline Stock 0.10M -1.57M
16:45 NZD Building Consents (MoM) 6.0% -5.4%
18:00 KRW South Korean Current Account 6.66B
18:00 KRW South Korean Industrial Production (YoY) 0.9% 2.9%
18:00 KRW South Korean Industrial Production (MoM) -1.0% 2.3%
18:00 KRW South Korean Service Sector Output (MoM) 0.80%
18:50 JPY Retail Sales (YoY) 0.3% 1.2%
20:30 KRW South Korean Retail Sales (MoM) -1.0% 2.3%
-Chinese Communist Party Mouthpiece Demands Obama Disarm Americans Again
-MPS oversight thorough , Italian Finmin Grilli
-Banca Monte dei Paschi di Siena: A mountain of risk
-Bank of Italy started sanctions against ex Monte Paschi chiefs in 2012
-Draghi to be forced to answer Question on Monte Paschi Crime
-Egyptian Army Warns Egypt on Brink of Civil War/Collapse on Mursi’s Islamo-fascism
-Mario Brothers Meet to Get Lies Straight on Monte Paschi Crime
-Ford Q4 Report
-Thomas Sowell on Hillary Clinton
-Rehn Says Uncle On Spain Austerity
-After months of debate, proposals to allow gay couples to marry and adopt children go before French parliament http://bit.ly/1154Ycr
-China Regulators Considers Launching Gold ETFs.
-Shanghai Composite enters bull market after climbing 20% from December low | http://bloom.bg/113VQF8
-ECB said to object to 15-year commitment on Anglo Irish rescue
-Monti minister to defend Paschi bailout after losses uncovered |http://bloom.bg/113ER5D
-India Cuts Rates, Reserve Ratio to Spur Growth
-China Communists to Control Size of Party Amid Corruption Fight
-Iran Denies MI6/Mossad Reports of Blast at Nuclear Facility
The MSM is not called media fakers and presstitudes for no reason.
-Japan bets on “Abenomics” to boost growth, budget income
-Who Owns the FED?
-MI6/CIA/Mossad Launch Cyber Terrorists Against Iran
-Senate Approves 50 Billion Hurricane Sandy Political Graft Bill
-Norway Debates Overseas Ventures After Siege in Algeria
-A Break for Embattled Ranchers
-Italy’s Oil Leader Is Pursuing Its East African Bet
-An Unusual Weather Turn Even for the Midwest: 8 Degrees Quickly Becomes 74
-SEC White Appointment rife with Banking and Political connections and Clear Conflicts of Interests, including JPM, BAC
Tell your Senators, no to Mary Jo White. Send them this article.
-No Quality Problems Found at Battery Maker for 787