Zephyr Global Report, 2/26/2013

Headliners

-Obama floods streets by releasing illegal immigrants/criminals from detention citing sequester. Threatens massive layoffs of government fat cats (hooray, bring it on dude).Holder warns sequester will make country ‘less safe’

-Senate votes to clear way for likely confirmation of Hagel in floor vote ending filibuster of AIPAC 40

-Euro-crisis is ‘back’ gloats London

-Bernanke -”You called me a dove”.  (whore)

-Senate Committee Approves Jack Lew the corrupt Jew. Headed for floor vote

-Senate Majority Leader Reid: Sequester would cause harsh austerity; No sign of a compromise.

-WSJ’s Hilsenrath: Fed’s Bernanke will not signal a big change in policy at this week’s Congress testimony

-New Iran Talks Open in Kazakhstan Amid Talks of US War

-Kerry: US to Hasten Syria Regime Change-after meeting with Cameron

-Italy fails to present a winning majority in both the Senate and Chambers of parliament to form a government. Berlusconi- new elections not useful. Coalition discussions pending.

-HP to roll out Slate 7 tablet for $169

-Bersani Wins Lower House, Senate Deadlocked, New Elections possible

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

Commentary

-Chemtrail Flu, NWO Depopulation Weapon

If you don’t see Chemtrails and can’t notice them, reading this blog is not going to help you. Prince Charles plan to weaken the USA so the chemtrail free China can invade and gut us and the people are too sick and weak to fight back. What a guy Prince Charles. There is a reason he lives on a tiny crappy Island full of 50 million psychopaths and homosexuals. You would have quite a gauntlet to run to bring him to Justice, along with his sordid Kin the Rothschilds. Pray Charles is brought down along with the Windsors and Rotschilds and Rockefellers. Thanks. Down with the English Crown. Down with the English  for giving their assent to 1400 years of piracy, witchcraft, war and banksterims, and Zionism and for working to destroy the USA and remaining silent about their governments crimes.

http://beforeitsnews.com/alternative/2013/02/chemtrail-flu-nwo-depopulation-weapon-2576794.html

-Morrissey another British Pink Whack Job

By Lyneka Little

Singer Morrissey reportedly has pulled out of an appearance on “Jimmy Kimmel Live” because he didn’t want to be featured on a program that also included the cast of “Duck Dynasty.” The former  frontman for the Smiths and animal rights supporter said in a statement attributed to him that he didn’t want to appear with people who he said amounted to “animal serial killers.” The A&E show “Duck Dynasty” follows a family that became wealthy by operating a business that sells products to duck hunters. A statement attributed to the singer on the True to You Morrissey fansite reads  “Morrissey is thankful for being invited to perform on ‘Jimmy Kimmel Live’ tomorrow, February 26. However, he cannot morally be on a television program where the cast members of ‘Duck Dynasty’ will also be guests. Morrissey would be honored to play the show, if Duck Dynasty were removed.” The statement quotes Morrissey as saying, “As far as my reputation is concerned, I can’t take the risk of being on a show alongside people who, in effect, amount to animal serial killers. If Jimmy cannot dump Duck Dynasty then we must step away.” A representative for A&E didn’t return requests for comment. UPDATE: A person familiar with the matter says Morrissey plans to reschedule his performance for another date.

———————

Queer, and politically correct ‘rock and roller’.He’s as Irish as Bono. I hope Morrissey goes duck hunting with Dick Cheney.

-1603 USA close

4:03 p.m. EST 02/26/13Major Stock Indexes
Last Change % Chg
DJIA* 13900.43 116.26 0.84
Nasdaq* 3129.65 13.40 0.43
S&P 500* 1496.97 9.12 0.61
DJ Total Stock Market* 15611.03 92.30 0.59
Russell 2000 901.09 5.25 0.59
Global Dow 2060.67 -19.10 -0.92
Japan: Nikkei Average* 11398.81 -263.71 -2.26
Stoxx Europe 600* 284.60 -3.80 -1.32
UK: FTSE 100* 6270.44 -84.93 -1.34
 
4:02 p.m. EST 02/26/13Treasurys
Price Chg Yield %
2-Year Note 0/32 0.250
10-Year Note -7/32 1.889
* at close
3:53 p.m. EST 02/26/13Futures
Last Change Settle
Crude Oil 92.64 -0.47 93.11
Gold 1612.0 25.4 1615.5
E-mini Dow 13896 108 13788
E-mini S&P 500 1497.00 9.75 1487.25
4:03 p.m. EST 02/26/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 91.93 91.82
Euro (EUR/USD) 1.3062 1.3062
† Late New York trading.

-Time to ride DAX back to 6000?

After all the ECB balance sheet and LTRO payback are contracting and China is not exactly cutting loose but tightening. Normally I would be a long Germany ex the banks and pharmas, but the FTSE , the Index’ that should be imploding is even more highly rigged than the ‘amateur’ Regling at the ESM. The entire FTSE like the AIM market is largely frauds and terrorists as the BP and Aibus sabotage operations showed us. German morality still prevents the Rothschilds from having their ‘perfect’ devilish ways with the German markets unlike the Rothschilds ruled English markets. I certainly did not enjoy Reglings attempting to rob me of my hard earned Italian election short play.

-Mossad Furious

Iran is using old tankers, saved from the scrap yard by foreign middlemen, to ship out oil to  China

http://htz.li/We2blc ($ site)

Brutal treacherous Jews in their quest for Eretz Israel. 80 % or more of the tribe supports the destruction of Iran for Jewish greed, aka ‘security’. No one wants Iran to go nuclear but no one sane wanted Israel to go nuclear either. Disarm Israel now. Iran should remain isolated until the Mullahs are put back in their place. Crazy Mullahs, Crazy, evil Rabbis. Homosexual Priests and Pastors, I’m tired of them all.

-Von Rompuy, the cruel Jew emerges from his Brussels rathole

We must respect the outcome of democratic elections in Italy

 It is now up to Italian political leaders to assume responsibility, compromise & form a stable government

Nor for Italy is there a real alternative to continuing fiscal consolidation & reforms

I am confident that Italy will remain a stable Member State of the € zone 

Twitter account

-Kerry plays to his German Fan base…

“In America, you have a right to be stupid,” John Kerry says in Germany

http://nyti.ms/YWm9Ne

Americans are stupid as we fought the Serbian war under Albright Clinton for a major Rothschilds oil pipeline right up to Germany through Serbia and the USA put one of the largest military bases in the world right next to it to guard German oil. Although you can’t really say the American people are stupid as outside of the ZGR, there is hardly anyone to tell the American people the truth. Kerry’s family name is Kohn, but in Boston no Irish are going to vote for you, and even lesser known is he is a  relative of Prince Charles. Obama remains wildly popular in Europe from all the recent polls. Even Bofinger pointed out to the Arrogant Merkel, the USA Federal deficit was floating Germany. And no mention of Kerry’s Jewish kin who control 95 of the MSM and broadcast the Anglo-Zionist propaganda 24/7. Look at how often the ZGRs soap box has been kicked out from under it, showing you the level of thought control that exists in the USA.

-Jamie Dimon, Arrogant Jew

JP Morgan CEO comments to analyst question “thats why im richer than you”.

newswire

-Bob Woodward(Jew), Obama is Lying…

Despite President Obama’s insistence that Republicans are to blame for the coming sequester, The Washington Post’s Bob Woodward maintains that the commander-in-chief need look no further than his own White House if he wants to blame someone.

“The president and (Treasury Secretary Jack) Lew had this wrong,” Woodward penned on Friday. “My extensive reporting for my book ‘The Price of Politics’ shows that the automatic spending cuts were initiated by the White House and were the brainchild of Lew and White House congressional relations chief Rob Nabors — probably the foremost experts on budget issues in the senior ranks of the federal government.”

Woodward, who is an associate editor at the Post, said the $85 billion in automatic spending cuts that are set to begin on Friday are surrounded by “misunderstanding, misstatements and all the classic contortions of partisan message management.” The cuts amount to a total of $1.2 trillion over 10 years.

“Obama personally approved of the plan for Lew and Nabors to propose the sequester to Senate Majority Leader Harry Reid,” asserted Woodward. “They did so at 2:30 p.m. July 27, 2011, according to interviews with two senior White House aides who were directly involved.”

Woodward also cited comments attributed to Nabors.

“Nabors has told others that they checked with the president before going to see Reid,” Woodward explained. “A majority of Republicans did vote for the Budget Control Act that summer, which included the sequester. Key Republican staffers said they didn’t even initially know what a sequester was — because the concept stemmed from the budget wars of the 1980s, when they were not in government.”

newsmax

-1437  USA/Europe Markets: Closing Summary

I will post the closing prices sometime later today.

The Stoxx finished down 1.33 % and Germany’s mighty DAX fell 2.24 %, and finished just below 7600 and Italy’s MIB was down -4.75 pc, and Italian banks were smoked with the Italian exchange/regulator stepping in as the circuit breaker. Italian 10 years soared to 4.80+ % from the 4.25 % range before the election. German markets are not even close to correcting or reflecting the new political realities of the Italian election, despite the Germans emerging to talk up their economy yesterday and today. The E$ remained mired at 1.30+.

The European elites want a ‘grand coalition’ , with Monti handling the finance portfolio, but it is hard to say what ruling coalition will emerge, if any. Clearly with Grillo on fire, neither Bersani nor Berlusconi want another vote and we might see interestingly enough Berlusconi-Bersani coalition emerge with Berlusconi grabbing the finance sector. Nothing else proposed makes any political sense. Grillo continues to insist he won’t have anything to do with either of the two major parties, center right or center left.

The ‘troika’ (IMF/ECB/EU) has been proven, electorally to not only be a farce, but their policies are so destructive people reject them. This is the cruelty of the Jews Lagarde, Draghi, Merkel,  Hollande,  Cameron, and Von Rompuy-raising already sky high taxes on labor and investment, and reducing salaries only allows consolidation as the elites to acquire assets cheaply and destroys national economies, and there is no other reason for the standard ‘IMF’ prescription for search and destroy. Zionist banking rule gains power by destruction. Marx called himself a ‘destroyer’, and these are his kin running Europe for the English. Spanish and Dutch Crowns. The  Jew is always the servant of the Royal and indeed the Royals through generational intermarriage of Europe are all Jews.

Clearly Europeans want jobs, thus they need to do the following- cut government spending on all but the necessary social services, freeze any government hiring or layoff in those sectors, cut taxes on labor and investment and saving, and liberalize labor laws and take back power from government unions, and limit unions ability to bankrupt nations and firms like Goodyear experienced in France, and take less vacation. JFK did this and the economy boomed.

While Home Depot had a bang up 4Q as contractors returned in drove spurred by the revival and nascent reflation bubble, their outlook was dark for 2013, forecasting only 2 pc y/y revenue growth. Given the number of new stores they open, they are either sand- bagging it or see a truly punk USE. We got a spate of other top- line killers this morning in the USA that indicated Home Depot was not sandbagging it.  Shares of tire manufacturer Titan are down nearly 20% this morning after the firm reported a Q4 loss thanks to tax issues and one-time costs. Apollo Group and the for-profit education companies were the red after University of Phoenix’s accreditor recommended the university be put on probation due to the unit’s insufficient autonomy from its parent company. APOL was down 4.2% while other for-profit names were down 2-3% in mid day trading. Shares of tire manufacturer Titan were down nearly 20% in the morning after the firm reported a Q4 loss, a ‘one time’ write down, that seems to occur on an annual basis.

The BP trial is heating up and it sure looks like BP is grossly incompetent from the testimony. BP will have to settle for big bucks. It was a sabotage operation and desperate attempt to keep the USA from energy independence by the Crown. People are questioning the sanity of the Cheaspeake sale to the Chinese. More on the oil sector tonight.

US Feb. consumer confidence picked up sharply from the one-year lows seen in the January reading, topping expectations. The December house price index confirmed that US housing is recovering well. The final monthly reading for the year showed 2012 had the biggest annual gain in home prices in six years. Meanwhile, the January new home sales numbers hit highs last seen in July 2008. The Richmond FED, home of Boeing new factory and many auto plants surprised and surged to 6 from -4e. Good thing Boeing is continuing to pump out B787s and other planes as they work through their nightmare.

FED chair Bernanke was on the hill for his semi-annual testimony. He offered little in the way of new insights, and defended his QE and handling of the economy. He called for some minor long term deficit reduction from Congress, and opposed the sequester. Despite help from Goldman Sachs, sell call and his claim his inflation record was great (it is , his job is to create inflation), gold went up in his face , and on the Jewish day of Revenge. A very rare instance. In other Hill news Jack Lew the Jew and Hagel are moving to the floor for a vote. Both are expected to pass. An AIPAC/media fail with Hagel, whom may still have had to sell his soul. Kerry immediately after visiting Cameron and other Anglo-Zionist elites called for a quick regime change in Syria. Assad is I think close to throwing in the towel. Kerry gave Iran their ‘last chance to dance’, be for using force. Iran thought the G7-( russia and china) deal was punk. War could be on the plate for the summer of 2013. Obama followed through on his threat and released prisoners as part of sequester politics. He should be impeached for that alone. House Speaker John Boehner said the US House won’t act to replace automatic federal spending cuts until the Senate “gets off their ass” and passes a planBloomberg reports Boehner said:”We have moved a bill in the House twice; we should not have to move a third bill before the Senate gets off their ass and begins to do something. Warren Buffett, Rothschilds whore waded into the political sequester fray for Obama as well.

In trading, rather than covering my shorts in the SPY and DIA, I went long in the premarkets, and sold that position when the DIA was up near .75 pc as the ESF (PPT), always defends the tape when Bernanke is speaking .  I  am amazed still at the total disconnect at the European close yesterday as the USA was selling off, someone was trying to jam me up in the DAX futures market and force me to cover my DAX short. Thank goodness for all my years trading against the USA PPT (AKA ESF), this Regling fellow has a lot to learn about rigging the tape. That is the strangest disconnect I have ever seen in my trading life, ex the gold smashes, which are so, so predictable.

Even BBN which I watched were horrified at the top line disasters rolling in and the CME traders indifference to market realities. So when the pimps of WS are worried, you should be worried as well. Bernanke will have to keep the pace of QE up which he started five weeks ago. If he backs off, the market will correct by 20 pc, which is typical of a recession correction. We know the BOJ is headed by a real banker’s whore now and he is very committed to reflation so it looks like for now the BOJ and FED will do the heavy lifting. Eventually Draghi will have to OMT it and set the Euro  target at 1.20, and the Germans will say ‘uncle’ an the elites will want to keep their 4 th reich together. Read the Swedish Central banks notes, and there is no ‘revival’ in Europe like the Germans are claiming. Its been  a dark year so far for the Germans, and the weather has shadowed it, with only 100 hrs of sunlight. Their empire is crumbling. Germans are waking up to Smirkel the cruel Jew. The problem with Germany is that all the other political leaders who are not Jews or married to one have been compromised by the Mossad, in one way or the other.  It is time for an Austrian to run Germany again, and not a Rothschilds relative. Germans need a lot of direction to function properly to be encouraged to take risks and create.

MARKETS – AT A GLANCE
2:36 p.m. EST 02/26/13Major Stock Indexes
Last Change % Chg
DJIA 13906.15 121.98 0.88
Nasdaq 3131.07 14.82 0.48
S&P 500 1497.77 9.92 0.67
DJ Total Stock Market 15620.44 101.71 0.66
Russell 2000 900.17 4.33 0.48
Global Dow 2060.53 -19.24 -0.93
Japan: Nikkei Average* 11398.81 -263.71 -2.26
Stoxx Europe 600* 284.60 -3.80 -1.32
UK: FTSE 100* 6270.44 -84.93 -1.34
 
2:36 p.m. EST 02/26/13Treasurys
Price Chg Yield %
2-Year Note -0/32 0.254
10-Year Note -6/32 1.886
* at close
2:26 p.m. EST 02/26/13Futures
Last Change Settle
Crude Oil 92.70 -0.41 93.11
Gold 1614.6 28.0 1586.6
E-mini Dow 13878 90 13788
E-mini S&P 500 1494.75 7.50 1487.25
2:36 p.m. EST 02/26/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 91.98 91.82
Euro (EUR/USD) 1.3061 1.3062
† Late New York trading.

-USA Trading Session , Economic Release Summary

(US) Dec S&P/Case-Shiller 20 City MoM: 0.88% v 0.65%e; Y/Y: 6.84% v 6.60%e; Home Price Index: 145.95 v 145.82e  Q4 S&P/Case-Shiller Q/Q: 7.33% v 7.00%e; HPI: 132.22 v 135.67 prior.(US) Dec House Price Purchase Index M/M: 0.6% v 0.6%e; Q/Q: 1.4% v 1.1% prior

(US) Feb Richmond Fed Manufacturing Index: 6 v -4e
(US) Feb Consumer Confidence: 62.0e v 58.6 prior
(US) Jan New Home Sales: 437K v 380Ke

(US) Weekly ICSC Chain Store Sales w/e Feb 24th w/w: +0.1%; y/y: +2.9%. (US) Weekly Redbook Retail Sales w/e Feb 24th: 2.7% y/y

(BR) Brazil Jan Unemployment Rate: 5.4% v 5.2%e.  (BR) Brazil Jan Total Outstanding Loans (BRL): 2.367T v 2.359T prior

(MX) Mexico Jan Preliminary Trade Balance: -$2.9B v +$961.7M prior

(HU) Hungary Central Bank (NBH) cut the Base Rate by 25bps to 5.25%, as expected

-Israel’s Cyber war /extortion racket against America

http://www.veteranstoday.com/2013/02/25/israels-cyberwar-operations-against-america/

As a victim of the Mossad Cyber terrorist army of 2 million IT/Computer professionals/enigneers and hackers, this understates the case.

-Goldman Sachs hammered by Clown

Italians voted for and against all kinds of stuff – and it would be a major mistake to lump all the anti-austerity forces together in some sort of generic protest vote (Grillo and Berlusconi are very different animals). But if you sit in Brussels, there were two, unambiguous blows.

First, 57 per cent of Italians voted for parties that explicitly oppose austerity, whether EU-mandated or otherwise.

Second, the Five-Star Movement led by comedian Beppe Grillo received over 25 per cent of the vote. Mario Monti, the outgoing prime minister – who was put in place to lead a Brussels-friendly, pro-reform government – mustered less than 10o per cent of votes in both houses. Think about that for a second. In practical terms, this means that a party – Grillo’s Five Star Movement, which has called for a referendum on whether the country should leave the single currency and whether Italy should default on some of its debt – will have roughly twice as many seats in Italy’s Lower House than the man hailed in Brussels and Berlin as Italy’s saviour . It also means that a former European Commissioner and adviser to Goldman Sachs just got completely hammered at the polls by a former comedian.

Open Europe, City of London ‘think tank’

Too bad they don’t let you know Grillo is a playboy, has a manslaughter conviction, and is a Sephardic Jew and member of the illuminati. But clearly the troika’s prescriptions are not only very unpopular, they don’t work. Italy needs to cut taxes on labor and savings and invest, and cut government spending drastically and modernize their labor laws allowing more hiring and firing by small to medium sized firms.

-Senate votes to end debate on Chuck Hagel’s nomination for defense secretary, clearing way for confirmation vote at 4:30 p.m. ET. WSJ

-Obama uses Sequester to flood American with illegal immigrants/criminals

In a highly unusual move, federal immigration officials have released a wave of detainees from immigration detention centers around the country in an effort to save money as automatic budget cuts loom in Washington, officials said.

NYT

-Italian “Winner”

Centre-left leader Pier Luigi Bersani held a press conference, where he has told reporters that while his coalition “came first” but did not win, he must react “with humility” to the outcome of the election so he can be of use to the country.He has vowed to propose basic reforms for the political system to support those suffering in the crisis in the lower house, and that he would appeal to rival Silvio Berlusconi and surprise newcomer, the anti-establishment party of comedian Beppe Grillo, to assume their responsibilities in the upper house. Reuters

-“You called me a dove. Well maybe in some respects I am, but on the other hand my inflation record is the best of any Federal Reserve chairman in the postwar period — at least one of the best, about 2 percent average inflation.”

Bernanke  in response to a question from Republican Senator Bob Corker of Tennessee. “

-Marketwatch

12:42 p.m. EST 02/26/13Major Stock Indexes
Last Change % Chg
DJIA 13882.89 98.72 0.72
Nasdaq 3118.91 2.66 0.09
S&P 500 1493.55 5.70 0.38
DJ Total Stock Market 15571.37 52.64 0.34
Russell 2000 895.68 -0.16 -0.02
Global Dow 2058.59 -21.18 -1.02
Japan: Nikkei Average* 11398.81 -263.71 -2.26
Stoxx Europe 600* 284.60 -3.80 -1.32
UK: FTSE 100* 6270.44 -84.93 -1.34
 
12:41 p.m. EST 02/26/13Treasurys
Price Chg Yield %
2-Year Note 0/32 0.250
10-Year Note 2/32 1.860
* at close
12:32 p.m. EST 02/26/13Futures
Last Change Settle
Crude Oil 92.52 -0.59 93.11
Gold 1612.4 25.8 1586.6
E-mini Dow 13845 57 13788
E-mini S&P 500 1489.00 1.75 1487.25
12:42 p.m. EST 02/26/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 91.71 91.82
Euro (EUR/USD) 1.3049 1.3062
† Late New York trading.

-“We do not see the potential costs of the increased risk- taking in some financial markets as outweighing the benefits of promoting a stronger economic recovery. Inflation is currently subdued, and inflation expectations appear well anchored.”

Bernanke

We did not get a gold bash on this despite GS back effort to put out a sell gold yesterday. May the Lord reward, HSBC, Citi, GS, and JPM according to their works in the gold market. Amen. Summary article posted  in the newslinks.

-Talking donkey that put Portugal into Receivership. Who would elect this Euro-Clown?

The fact Italian voters had turned Monti out of office did not mean his policies, or those advocated by the European Union, were wrong.

I hope we are not going to follow the temptation to give in to populism because of the results in one specific member state.

The question we have to ask ourselves is the following: should we determine our policy, our economic policy, by short-term electoral considerations or by what has to be done to put Europe back on the path to sustainable growth? For me the answer is clear.

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

What is Populism? Opposing world Zionist rule and rule by the banksters and their cousins? Populism a cry for honest money and end to outsourcing jobs and an end to war. Then I’m a populist. We must take the bully pulpit away from Rothschilds talking Donkeys.

-China has its own debt bomb

(great article from the WSJ from an Asian on China’s shadow banking system and debt, their shadow banking system is now too big to be bailed out by their savings account)

…Through 2007, creating a dollar of economic growth in China required just over a dollar of debt. Since then it has taken three dollars of debt to generate a dollar of growth. This is what you normally see in the late stages of a credit binge, as more debt goes to increasingly less productive investments. In China, exports and manufacturing are slowing as more money flows into real-estate speculation. About a third of the bank loans in China are now for real estate, or are backed by real estate, roughly similar to U.S. levels in 2007….

http://online.wsj.com/article/SB10001424127887324338604578325962705788582.html?mod=hp_opinion

-Bernanke…I did not have the time to blog the blowhard live, plus the WSJ and BBN gave us a summary of his ‘defense’ of QE and mismanagement of the USE. In fact I cant even stand looking at his spirit it is so dark and perverse. So I followed it on the WSJ blog. My really enormous short position was the DAX, so I watched that tick by tick, and covered some more near the close.

Crux of testimony

“The Committee also stated that in determining the size, pace, and composition of its asset purchases, it will take appropriate account of their likely efficacy and costs. In other words, as with all of its policy decisions, the Committee continues to assess its program of asset purchases within a cost-benefit framework. In the current economic environment, the benefits of asset purchases, and of policy accommodation more generally, are clear: Monetary policy is providing important support to the recovery while keeping inflation close to the FOMC’s 2 percent objective. Notably, keeping longer-term interest rates low has helped spark recovery in the housing market and led to increased sales and production of automobiles and other durable goods. By raising employment and household wealth–for example, through higher home prices–these developments have in turn supported consumer sentiment and spending. “

-Richmond FED +6 vs -12 prior

Note, Richmond includes some car plants and the all important new Boeing Factory.

Manufacturers in the central Atlantic region report activity turned positive this month, the Federal Reserve Bank of Richmond said Tuesday. Service-sector revenues in the area fell slightly this month.The Richmond Fed’s manufacturing current business conditions index increased to 6 after falling sharply to -12 in January from 5 in December. Numbers above zero indicate expanding activity.The Richmond subindexes show improvement in February.Its shipment index jumped to 10 from -11 in January. The new orders index stood at 0, after plunging to -17 last month from 10 in December.Demand for labor also improved. The employment index increased to 8 from -5, and the workweek index rose to -2 from -4 last month.Cost pressures eased, and fewer businesses are trying to raise their own selling prices. The current prices paid index fell to 2.04 from 2.54 while the prices received index declined to 0.79 from 0.85.Looking out over the next six months, businesses are more upbeat. The shipments-expectation index increased to 28 from 18. The orders-expectations index rose to 26 from 18. The employee expectations jumped to 12 from 0 in January.On the service side, the Richmond survey’s revenues index eased to 11 in February from 13 in January. The employees index increased to 3 from 0.

-Case Schiller

U.S. home prices rose in December, and saw the largest year-over-year gain since 2006, according to the S&P/Case-Shiller home-price index released Tuesday. The S&P/Case-Shiller 20-city composite posted a nonseasonally adjusted 0.2% increase in December, following a 0.1% decline in November. After seasonal adjustment, home prices rose 0.9% in December. “Home prices ended 2012 with solid gains,” said David Blitzer, index committee chairman at S&P Dow Jones Indices. Looking at longer-term trends, December’s prices were up 6.8% from the same period in the prior year — the largest annual gain since July 2006 – with increases in 19 of 20 cities. New York was the only city with a year-over-year decrease, falling 0.5%. Low inventories and increasing demand have supported prices over the past year. Despite housing-market gains, prices remain about 29% below a bubble peak in 2006, according to Case-Shiller data. MW

-Europe Close

Country: Index Last Change % Chg
Europe Dow 1664.77 -52.91 -3.08
Stoxx Europe 50 2599.72 -35.16 -1.33
Stoxx Europe 600 284.79 -3.61 -1.25
Euro Stoxx 50 2571.58 -80.28 -3.03
Euro Stoxx 260.70 -6.52 -2.44
Austria: ATX Index 2398.82 -45.32 -1.85
Belgium: Bel-20 2512.93 -46.08 -1.80
Denmark: OMX Copenhagen 20* 544.78 1.37 0.25
Estonia: OMX Tallinn* 762.05 3.08 0.41
Finland: OMX Helsinki 6138.22 -139.89 -2.23
France: CAC 40 3624.15 -97.18 -2.61
Germany: DAX 7599.44 -173.75 -2.24
Greece: Athex Composite Share Price* 991.56 -3.81 -0.38
Greece: DJ Greece TSM* 744.21 -1.42 -0.19
Greece: FTSE/ATHEX 20* 328.94 -1.44 -0.44
Iceland: OMX Iceland All-Share* 779.53 -3.02 -0.39
Ireland: ISEQ Overall 3728.21 19.44 0.52
Italy: FTSE MIB 15574.80 -777.19 -4.75
Latvia: OMX Riga* 394.64 -0.05 -0.01
Lithuania: OMX Vilnius* 374.21 -0.18 -0.05
Netherlands: AEX 335.23 -5.03 -1.48
Norway: OSE All-Share 519.40 -3.12 -0.60
Portugal: PSI 20 6017.91 -145.39 -2.36
Russia: DJ Russia Titans* 6359.04 -66.17 -1.03
Spain: IBEX 35 7978.30 -266.20 -3.23
Sweden: OMX Stockholm 369.55 -5.08 -1.36
Switzerland: Swiss Market 7457.38 -136.97 -1.80
UK: FTSE 100 6271.06 -84.31 -1.33
UK: FTSE 250 13531.61 -154.09 -1.13
UK: FTSE AIM All-Share 738.93 -7.86 -1.05

-Sales of new U.S. homes jumped 15.6% in January to an annual rate of 437,000 to mark the highest pace of activity since July 2008, according to Commerce Department data released Tuesday. The rate of sales in January easily surpassed the 384,000 estimate of economists polled by MarketWatch. What’s more, December sales were revised up to 378,000 from an initial read of 369,000. The numbers are seasonally adjusted. The median price of new homes, however, fell more than 9% to $226,400 in January from $249,800, indicating that buyers flocked to less expensive properties. Sales rose the fastest in the West, up 45.3%, and they also climbed 27.6% in the Northeast. Sales might have benefited in the Northeast from unseasonably warm winter weather that persisted from December into early January. The supply of new homes available for purchase fell to 4.1 months at the current sales rate from 4.8 months in December – the lowest level since early 2005. New home sales are almost 29% higher compared to one year ago.

-Feb. consumer confidence 69.6 vs. Jan. 58.4

A gauge of consumer confidence jumped up in February, led by brighter expectations, after dropping in the prior month, according to data released Tuesday. The Conference Board said its consumer-confidence index rose to 69.6 in February, the highest level in three months, far exceeding analysts’ estimates of 62.3. January’s level was revised to 58.4 from a prior estimate of 58.6. The confidence gauge plunged last month on consumers’ concerns over higher payroll taxes and fiscal uncertainty. However, that shock effect appears to have subsided this month, said Lynn Franco, economic indicators director at the Conference Board. Still, confidence remains relatively low — generally when the economy is growing at a good clip, levels are at least 90. The Conference Board’s barometer of consumers’ expectations rose to 73.8 in February from 59.9 in January. Meanwhile, the gauge of views on the present situation rose to 63.3 from 56.2.

-Market Watch

11:39 a.m. EST 02/26/13Major Stock Indexes
Last Change % Chg
DJIA 13839.04 54.87 0.40
Nasdaq 3110.17 -6.08 -0.20
S&P 500 1487.26 -0.59 -0.04
DJ Total Stock Market 15508.82 -9.91 -0.06
Russell 2000 896.03 0.19 0.02
Global Dow 2055.77 -24.00 -1.15
Japan: Nikkei Average* 11398.81 -263.71 -2.26
Stoxx Europe 600 284.62 -3.78 -1.31
UK: FTSE 100 6267.46 -87.91 -1.38
 
11:39 a.m. EST 02/26/13Treasurys
Price Chg Yield %
2-Year Note 0/32 0.250
10-Year Note 3/32 1.858
* at close
11:29 a.m. EST 02/26/13Futures
Last Change Settle
Crude Oil 92.41 -0.70 93.11
Gold 1615.9 29.3 1586.6
E-mini Dow 13819 31 13788
E-mini S&P 500 1485.25 -2.00 1487.25
11:39 a.m. EST 02/26/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 91.32 91.82
Euro (EUR/USD) 1.3056 1.3062
† Late New York trading.

- France Industry Minister Montebourg: Euro was too strong and should become more politicized. ECB should listen to politicians and should act more like Bank of England. The Eurozone needed to reinterpret ECB’s role and the central bank should monetize debt.

(Communists are truly frightening!)

- EU spokesperson for Ashton: New P5+1 offer a “balanced and fair” basis for nuclear discussions with Iran. Iran believed the offer from P5+1 was unbalanced. P5+1 would ease sanctions on banking and gold but it would required Iran to give up 20% of its enrichment program and Iran to offer new proposals during nuclear talks with world powers in Kazakhstan.

BOE members testified to Treasury Select committee. BOE Bean noted that growth would gradually strengthen but downside economic risks remained especially in the EMU region. He reiterated that inflation to remain above the 2% target for longer than thought . He saw a marked improvement in sentiment and this will feed into activity. Banking union desirable for Euro Zone stability.BOE’s Tucker stated that he remained open to more QE but was dependent on outlook for demand and inflation. QE likely to be more effective than late 2012 period. He also reiterated that inflation to remain above the 2% target for a few years. Escape velocity was needed to start withdrawing stimulus. He did see great uncertainty and needed to adopt watchful and probing approach.

-Riksbank(Sweden) minutes noted that economic growth was weak and inflation was low but did expect the domestic economy to gradually strengthen in 2013 . Central Bank Gov Ingves saw a gradual normalization of developments and that monetary was policy short-sighted when managing household debt. Central Bank Member Ekholm (; Economy has not developed as positively but cycle might have bottomed out. Need analysis on how house price drop would hurt the country. Sweden Central Bank Member Svensson  saw failings in Swedish monetary policy and must focus on inflation and NOT on household debt.Sweden Central Bank Member Wickman-Parak saw Sweden economy recovering this year and that developments overseas might be better than expected. Had not seen impact of latest rate cut on economy. Cut in rates was more likely than hike in near-term if a need arose to adjust rates.Sweden Central Bank Member Jansson: Can be more certain that hoped-for recovery has begun. Sweden Central Bank Member Af Jochnick: Need financial stability for monetary policy to work

- Italy’s Berlusconi admitted defeat in the Lower House to Bersani and added that the party now must reflect on what to do next. He added that it was NOT useful to return to the polls but excluded any deal with Monti’s Centrists. He later posted that he was taking time to consider alliance with PD but too early to comment on any possible deal. He stressed that the PDL would not make any deal with Monti.

- German CDU member Broemer: Italy needs a functioning govt without delay following the recent election. He added that Italy had a key role in the EMU crisis and needed to win back confidence of the markets. He also stressed that Italy must continue with consolidation and reforms

 -German Foreign Min Westerwelle: Will exert pressure on Italy to continue reforms

 -German Econ Min Roesler: No alternatives to structural reforms that have already been launched in Italy. He urged all parties in Italy to be cognizant of their responsibility to support stability in the country.

- (US) House Speaker Boehner (R-OH): There are better ways to cut spending than the sequester, calls on President Obama to work with the Senate to pass a new package.

-Economic Release Summary- European Trading Session

(ZA) South Africa Dec Leading Indicator: 131.7 v 131.5 prior
(FI) Finland Jan Unemployment Rate: 8.7% v 8.0%e
(FI) Finland Jan Preliminary Retail Sales Volume Y/Y: -0.3% v -1.4% prior
(HU) Hungary Jan Unemployment Rate: 11.2% v 11.1%e
(TW) Taiwan Jan Export Orders Y/Y: 18.0% v 17.6%e
(ES) Spain Dec Mortgages-capital loaned Y/Y: -28.1% v -34.4% prior; Mortgages on Houses Y/Y: -27.8% v -31.6% prior
(EU) ECB: €0.0 borrowed in overnight loan facility vs. €1.0M prior; €159.8B parked in deposit facility vs. €166.4 prior
(ZA) South Africa Q4 GDP Annualized: 2.1% v 1.7%e; GDP Y/Y: 2.5% v 2.2%e

-After six months where Eurozone risk premia were generally heading consistently lower, the Italian election is a bit of a wake-up call. It shows that political risk in the Eurozone cannot be ignored.

In that regard, Nomura thinks that there are 2 clear implications of the results of the Italian elections on the financial markets going forward:

1. We are unlikely to quickly move back to a world where Eurozone risk premia have potential to dominate everything (the environment from early 2010 to July 2012).

2· A total elimination of Eurozone risk premia (in bonds, equities and in FX) is not justified as long as political risk in the system has potential to disrupt Eurozone cross-border solidarity.

Given these implications, how investors should position in the key EUR crosses? Here are the strategies as outlined by Nomura.

1. EUR/USD is now likely to be firmly capped at 1.37. We would look to sell upside or outright on any meaningful spikes back towards 1.33-1.34.

2. A key catalyst for a move higher in EUR/CHF has now been removed. As such, targets near 1.30 may no longer be realistic. The floor of the EURCHF is still likely to be near 1.22, but the upside potential may now be closer to the highs from January (around 1.25).

3. EUR/JPY had a massive intra-day move today (down >3% in just a few hours). Clearly there has been a Yen dimension to the move, and after a long Yen weakening trend, sizeable washouts should be no surprise. We remain of the view that we are most likely to see consolidation and expect volatility to come down from elevated levels.

efx news

-749

Stoxx Europe 600 285.39 -3.01 -1.04
 Belgium: Bel-20 2520.41 -38.60 -1.51
 France: CAC 40 3649.19 -72.14 -1.94
 Germany: DAX 7645.43 -127.76 -1.64
 Italy: FTSE MIB 15692.25 -659.74 -4.03
 Sweden: OMX Stockholm 370.51 -4.12 -1.10

-Why even the Germans hate living in Germany

Meteorologists say that’s because it has been the darkest winter in more than four decades. Less than an average of 100 hours of sunshine have been recorded so far over the course of the meteorological winter, which runs from December through February, said National Meteorological Service (DWD) spokesman Gerhard Lux on Monday. The winter average is an already measly 160 hours of sun.

-Jim Rickards ‏@JamesGRickards

I have one thing to say about #Italian intermediate term sovereign debt. #BuyEm. The #Euro is solid as a rock. Election is noise.

wishful thinking. the ecb’s balance sheet is the same as the fed. who has more junk in it? hard to say.

-Israel/Obama/Cameron setting Stage for Summer war upon Iran?

The latest round of the P5+1 negotiations with Iran begin Tuesday morning in Almaty, Kazakhstan, with considerable indication from the US that these will be the last talks, setting the stage for a summer US war against Iran.

The talks are the first since June of last year, and have been prefaced by Secretary of State John Kerry insisting that time is “running out” for Iran to acquiesce to America’s assorted demands. Other Western nations have talked up an unspecified package of “incentives” for Iran to make a deal.

What this will be remains unclear, though previous indications were that they would grudgingly allow Iran to trade certain goods in gold in return for abandoning a large portion of their civilian nuclear program. Iran has already rejected that offer, insisting that any deal would have to include an end to international threats and an acceptance of Iran’s sovereignty.

The P5+1 have met Iran repeatedly over the program in recent years, with Iran accepting the Fall 2009 US offer for a third party enrichment deal only to have the US withdraw the offer angrily, and condemn Iran for accepting it. Since then, US offers have included more and more demands every meeting, seemingly designed to avoid the embarrassment of having Iran accept a reasonable offer and end the push for war.

www.antiwar.com, Jason Dietz

-Today’s  Trading Schedule

Redbook[Bullet8:55 AM ET

FHFA House Price Index 9:00 AM ET

S&P Case-Shiller HPI [djStar]9:00 AM ET

New Home Sales[Star]10:00 AM ET

Consumer Confidence 10:00 AM ET

Ben Bernanke Speaks 10:00 AM ET

Richmond Fed Manufacturing Index 10:00 AM ET

State Street Investor Confidence Index[Bullet10:00 AM ET

4-Week Bill Auction[Bullet11:30 AM ET

5-Yr Note Auction [Bullet1:00 PM ET

 

-Italy on Tuesday suspended short-selling of shares in Intesa Sanpaolo SpA , one of many Italian banks that suffered sharp drops on Milan’s exchange after elections raised fears of a hung parliament.The country’s market regulator Consob suspended short-selling in the bank’s shares for the rest of Tuesday and all of Wednesday.At 1130 GMT, Intesa Sanpaolo was down 10.03% at EUR1.22. Its peer, UniCredit SpA , was doing relatively better, off 8.22% at EUR3.84

-AutoZone Inc. said on Tuesday fiscal second-quarter profit rose to $176.2 million, or $4.78 per diluted share, from $166.9 million, or $4.15 per share, a year earlier. The company reported revenue of $1.86 billion compared with $1.8 billion in the year-ago quarter. Quarterly domestic same-store sales fell 1.8%. “We were not pleased with our same store sales results for the quarter,” said Bill Rhodes, chief executive officer, attributing the results to a delay in the processing of income-tax returns. The company said it expects sales to rebound in the next quarter.

-0721  European Credit Markets

Where is Mr. Regling?

German 10y 1.47-0.10, 6.26%

 Italy 10yr 4.76+0.33, -7.47%

 Spain 10yr 5.25+0.14, 2.81%

 U.K. 10yr 2.02-0.07, 3.28
——
(EU) EFSF to sell new benchmark 3-year bond
(IT) Italy Debt Agency (Tesoro) sold €8.75B vs. €8.75B indicated in 6-month Bills; Avg yield 1.237% v 0.731% prior (highest since Oct 2012); Bid-to-cover: 1.44x v 1.65x prior
(CH) Switzerland sold CHF1.16B in 3-Month Bills: Yield: -0.103% v -0.091% prior
(EU) ECB allotted €131.1B vs. €130Be in 7-Day Main Refinancing Tender at fixed 0.75%
(HU) Hungary Debt Agency (AKK) sold HUF60B vs. HUF50B indicated in 3-Months Bills; Avg yield 5.07% v 5.17% prior; Bid-to-cover: 2.68x v 2.36x prior

-Are they going to destroy ‘our’ Euro Now?

Wahl in Italien: Italiener wählen Chaos-Regierung

www.bild.de

-Market Watch

7:05 a.m. EST 02/26/13Major Stock Indexes
Last Change % Chg
DJIA* 13784.17 -216.40 -1.55
Nasdaq* 3116.25 -45.57 -1.44
S&P 500* 1487.85 -27.75 -1.83
DJ Total Stock Market* 15518.73 -293.16 -1.85
Russell 2000* 895.84 -20.32 -2.22
Global Dow 2056.90 -22.87 -1.10
Japan: Nikkei Average* 11398.81 -263.71 -2.26
Stoxx Europe 600 284.97 -3.43 -1.19
UK: FTSE 100 6271.73 -83.64 -1.32
 
7:05 a.m. EST 02/26/13Treasurys
Price Chg Yield %
2-Year Note 0/32 0.250
10-Year Note -1/32 1.871
* at close
6:56 a.m. EST 02/26/13Futures
Last Change Settle
Crude Oil 92.37 -0.74 93.11
Gold 1591.6 5.0 1586.6
E-mini Dow 13814 26 13788
E-mini S&P 500 1490.25 3.00 1487.25
7:06 a.m. EST 02/26/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 91.99 91.82
Euro (EUR/USD) 1.3077 1.3062
† Late New York trading.

-European Banksters Routed

European bank stocks fell, led by Milan-based Intesa Sanpaolo SpA (ISP) and UniCredit SpA (UCG), after inconclusive election results in Italy threatened to reignite the euro region’s sovereign-debt crisis.UniCredit, Italy’s biggest bank, slumped as much as 10 percent to 3.76 euros in Milan, its largest intraday drop since Jan. 9, 2012, while Intesa declined as much as 12 percent. France’s Credit Agricole SA (ACA), which has a branch network in Italy, slid as much as 6.6 percent. The Euro Stoxx Banks Index fell as much as 5.1 percent, the most since Sept. 26.

-Bloomberg News, Hasbara Central, as it reconstructs reality to pimp war on Iran.

There was no Queen Ester. The Rabbis bribed the Catholic Church into adding to the old testament. The book of Ester has no mention of God in it, but is a political text to instruct Jews how to subvert a majority government to their will. This Bulgaria operation was a clear false flag carried out by the Mossad and Iran denied any involvement and called it as such. Why do so, so many lying Jews have such prominent voices in the media. Could not have anything to do with their central bank, ‘franchise’. Jews are a bloodthirsty and murderous people as the story of Ester showed us , going back to ancient time. It is their satanic, Talmudic ethos. There is a madness to Jew the that is mesmerizing, and witchcraft in their lies.

http://www.bloomberg.com/news/2013-02-25/iran-intensifies-its-violent-campaign-against-jews.html

- Home Depot Inc. said Tuesday that profit for the fourth-quarter rose to $1 billion, or 68 cents a share, up from $774 million, or 50 cents a share, in the same quarter last year. Sales grew 13.9% to $18.2 billion in the quarter, while same-store sales picked up 7%. Analysts surveyed by FactSet expected earnings of 64 cents a share on sales of $17.7 billion. The Atlanta-based home-improvement retailer further said it’ll raise its quarterly dividend 34% to 39 cents a share. For 2013, the company said it sees sales growth about 2% and an expansion in operating margin of 65 basis points. Earnings per share after an anticipated share buyback are expected to improve 12% to $3.37 for the full year. MW

-R.R. Donnelley Q4 sales down 2.2% to $2.7 billion

-RadioShack Q4 same-store sales down 7%

-Bersani had 113 seats in the 315-member Senate,. Berlusconi’s share was 116, with Monti getting 18. Grillo, who ruled himself out as a candidate due to a manslaughter conviction in the 1980s, got 54 seats.

-“This possible outcome would have very heavy consequences for Italy at the European level. Based on these projections, more than half of Italians expressed a vote against austerity, against the euro, against Merkel.”

Letta, deputy head of Bersani’s Democratic Party, RAI 3 television.

-Berlusconi : “taking time” to consider an alliance with Bersani, while ruling out any coalition that included Monti.

-China Fishery Group Ltd. , in which U.S. private equity firm Carlyle Group L.P. CG -5.65% has a stake, is offering $556 million for Copeinca ASA to capitalize on the Oslo-listed company’s access to Peru’s rich fishing resources.China Fishery, which is listed in Singapore, sells most of its fish in China. Its push to expand its reach across the Pacific Ocean reflects a growing hunger for seafood in the world’s second-largest economy at a time when territorial skirmishes with neighboring countries are crimping Chinese fishing vessels’ haul in regional waters.China Fishery, a unit of Hong Kong’s Pacific Andes International Holdings Ltd. , is offering 53.85 kroner (US$9.50) for each Copeinca share, it said in a disclosure to the Singapore bourse Tuesday. It will offer the same price for the fish-processing firm’s Lima-listed securities. The offer represents a 21.6% premium to Copeinca’s Monday closing price of 44.30 kroner in Norway.Copeinca is the second-biggest fishing company in Peru, which is the world’s largest producer and exporter of fishmeal and fish oil by volume, according to the International Fishmeal and Fish Oil Organization.It has 10.7% share of the South American country’s catch quota for anchovy, which is processed into fishmeal. Peru recently slashed its global commercial fishing quota for the small fish because of depleted stocks.If the deal is successful, China Fishery would become Peru’s largest producer of fishmeal and fish oil, according to the disclosure. MW

-Futures

Futures Index Value % Change Open High Low Time
Americas Futures
DJIA INDEX FUTURE Mar13 13,818.00 +0.22% 13,789.00 13,839.00 13,771.00 06:09:16
S&P 500 FUTURE Mar13 1,490.70 +0.24% 1,485.60 1,493.00 1,484.30 06:10:23
NASDAQ 100 FUTURE Mar13 2,707.25 +0.19% 2,705.25 2,709.75 2,699.50 06:07:33

- Goldman Sachs cut its gold price forecast for this year, saying while the latest sell-off is “likely excessive,” it has “exposed a quickly waning conviction in holding gold positions, especially ETFs (exchange traded funds). In a note dated Feb. 25, Goldman cut its three-month gold-price forecast to $1,615 an ounce from $1,825, its six-month forecast to $1,600 an ounce from $1,805 and its 12-month forecast to $1,550 an ounce from $1,800. Goldman said recent moves in gold and U.S. real rates have “anticipated the turn in the gold cycle that we had expected for the second half of 2013,” in the note. April gold futures GCJ3 +0.38% rose $13.60 an ounce, or nearly 1%, to $1,599.80 an ounce as perceived riskier assets sold off in the wake of an inconclusive result for Italian elections.  MW

Note GLD continued to sell gold into yesterday’s rally. Bizarre. But GLD was designed by the husband of the SF FED, Janet Yellen.

-Home Depot sees 2% sales growth in 2013

Not even keeping up with the real rate of inflation.

-601 The ZGR gets paid for arguing with the tape on the DAX short. In general you never want to argue with the tape, but yesterday the DAX tape was insane.  It is a sign of the time that the USA falls apart on European news even as Europe rallied yesterday into the close The ESM must have lost a lot of money trying to run the DAX shorts into the ground yesterday in the futures markets. Regling and Draghi are a pair of thugs. Weirdest action, yesterday I can ever recall seeing in the DAX. I’m leaving some of the DAX short open.

 

Country: Index Last Change % Chg
Europe Dow 1676.01 -41.67 -2.43
Stoxx Europe 50 2605.23 -29.65 -1.13
Stoxx Europe 600 285.18 -3.22 -1.12
Euro Stoxx 50 2575.13 -76.73 -2.89
Euro Stoxx 260.95 -6.27 -2.35
Austria: ATX Index 2396.35 -47.79 -1.96
Belgium: Bel-20 2515.83 -43.18 -1.69
Denmark: OMX Copenhagen 20 541.96 -1.45 -0.27
Estonia: OMX Tallinn 760.35 1.37 0.18
Finland: OMX Helsinki 6167.45 -110.66 -1.76
France: CAC 40 3629.22 -92.11 -2.48
Germany: DAX 7617.70 -155.49 -2.00
Greece: Athex Composite Share Price 980.90 -14.47 -1.45
Greece: DJ Greece TSM 734.90 -10.73 -1.44
Greece: FTSE/ATHEX 20 324.55 -5.83 -1.76
Iceland: OMX Iceland All-Share 780.87 -1.68 -0.21
Ireland: ISEQ Overall 3707.19 -1.58 -0.04
Italy: FTSE MIB 15539.79 -812.20 -4.97
Latvia: OMX Riga 394.52 -0.17 -0.04
Lithuania: OMX Vilnius 374.20 -0.19 -0.05
Netherlands: AEX 335.24 -5.02 -1.48
Norway: OSE All-Share 519.09 -3.43 -0.66
Portugal: PSI 20 6047.29 -116.01 -1.88
Russia: DJ Russia Titans 6351.16 -74.05 -1.15
Spain: IBEX 35 7980.50 -264.00 -3.20
Sweden: OMX Stockholm 369.73 -4.90 -1.31
Switzerland: Swiss Market 7461.99 -132.36 -1.74
UK: FTSE 100 6268.51 -86.86 -1.37
UK: FTSE 250 13487.72 -197.98 -1.45
UK: FTSE AIM All-Share 740.54 -6.25 -0.84
EUR/USD 1.3099 +0.0035 +0.27%
GBP/USD 1.5208 +0.0046 +0.30%
USD/JPY 92.06 +0.23 +0.26%
USD/CHF 0.9296 -0.0028 -0.29%
AUD/USD 1.0254 -0.0002 -0.02%
USD/CAD 1.0257 -0.0003 -0.03%
EUR/GBP 0.8614 0.0000 0.00%

 

Gold 1592.80 +6.20 +0.39%
Silver 28.908 -0.139 -0.48%
Copper 3.549 -0.013 -0.35%
Crude Oil 92.44 -0.68 -0.72%
Natural Gas 3.481 +0.011 +0.32%
US Cotton No.2 82.09 +0.37 +0.45%
US Coffee C 141.57 -0.85 -0.60%

- WSJ’s Hilsenrath: Fed’s Bernanke will not signal a big change in policy at this week’s Congress testimony – CNBC

-941

Asian stocks markets took it on the chin as the Italian election results roiled USA markets into the close ,and that spilled over into Asia. China’s mainland  stock markets were the notable exception in the large markets.

In Japan the Yen safe haven and JGBs got a big surge of money coming out of the stock market. The Y/D fell back to 91.9  a good level for entry. Japan Econ Min Amari said currency moves may be the result of uncertainty in Italian elections. Abe’s government is set to submit  the name of the new BOJ candidate to Parliament on Thursday or Friday. Abe said he would make a decision soon if Japan would pursue the TPP. Currently autos and farming are looking for consideration in advance of the talks. The Nikkei finished down 2.3 % at 11398.8 . Japan 10yr Note yield falls to 10-year low 0.68%.

Australia News-poll shows Opposition Leader Tony Abbott is preferred to Labor PM Gillard 40-36%. The ASX finished down 1.03 %.New Zealand to raise minimum wage to NZ$13.75 from NZ$13.50.

Statistics Singapore said that Singaporean Industrial Production fell to an annual rate of -0.4%, from 1.3% in the preceding month whose figure was revised up from -0.6%. Analysts had expected Singaporean Industrial Production to rise to 4.0% last month. The Strait Times index is down .55 %.

Bank of Korea (BoK) Gov Kim said South Korea consumer inflation expectations were  high, but policy should not target currency levels in an address to Parliament today. Hyundai/Kia group are said to be sharply raising its vehicle prices in US markets to offset strong KRW impact .  The Kospi is down .46  % at 2000.

The Shanghai Composite is up .25 % to 2331, and the Hang Seng is down .77 % to 22644.8.

Economic Release Summary

(NZ) NEW ZEALAND Q1 RBNZ 2 YEAR INFLATION EXPECTATION: 2.2% V 2.3% PRIOR (15-quarter low)
(PH) PHILIPPINES DEC TRADE BALANCE: -$1.3B V -$1.6B PRIOR
(TW) TAIWAN JAN UNEMPLOYMENT RATE: 4.2% V 4.2%E

Equity

Country: Index Last Change % Chg
Asia Dow 2978.95 -23.40 -0.78
DJ Asia-Pacific TSM 1360.12 -5.24 -0.38
Australia: All Ordinaries* 5021.80 -50.90 -1.00
Australia: S&P/ASX* 5003.60 -52.20 -1.03
China: DJ CBN China 600 21733.37 10.10 0.05
China: DJ Shanghai 297.31 0.15 0.05
China: Shanghai Composite 2331.57 5.75 0.25
China: Shenzhen Composite 959.93 4.14 0.43
China: Shanghai 50 1906.38 15.61 0.83
Hong Kong: Hang Seng 22644.82 -175.26 -0.77
India: BSE Sensex 19217.93 -113.76 -0.59
India: S&P CNX Nifty 5817.80 -36.95 -0.63
Indonesia: JSX Index 4653.54 -42.56 -0.91
Indonesia: JSX BISNIS 27 403.15 -5.50 -1.35
Indonesia: JSX Islamic 625.59 -4.91 -0.78
Indonesia: JSX LQ-45 795.69 -9.96 -1.24
Indonesia: PEFINDO-25 491.06 -4.00 -0.81
Indonesia: SRI-KEHATI 251.41 -4.07 -1.59
Japan: DJ Japan TSM 601.72 -9.18 -1.50
Japan: Nikkei Average 11401.46 -261.06 -2.24
Japan: TOPIX Index 965.89 -14.81 -1.51
Malaysia: DJ Malaysia TSM 3021.45 -6.28 -0.21
Malaysia: FTSE Bursa Malaysia KLCI 1624.61 -2.74 -0.17
New Zealand: NZX 50* 4238.92 12.47 0.30
S. Korea: KOSPI 2000.19 -9.33 -0.46
S. Korea: KOSPI 50 1741.33 -8.32 -0.48
S. Korea: KOSPI 100 2009.83 -9.20 -0.46
S. Korea: KOSPI 200 Composite 264.72 -1.29 -0.48
Singapore: FTSE Straits Times 3270.53 -18.23 -0.55
Taiwan: TAIEX 7874.80 -72.88 -0.92
Thailand: SET 1528.39 -11.74 -0.76
Gold 1591.30 +4.70 +0.30%
Silver 28.935 -0.112 -0.39%
Copper 3.567 +0.018 +0.52%
Crude Oil 92.33 -0.78 -0.83%
Natural Gas 3.474 +0.004 +0.12%
US Cotton No.2 81.81 +0.07 +0.09%
US Coffee C 142.43 -1.25 -0.87%

- GLD: SPDR Gold Trust ETF daily holdings fall by 7.8 tons to 1,272.9 ton (lowest since Aug 16th)

 

EUR/USD 1.3050 -0.0014 -0.11%
GBP/USD 1.5203 +0.0041 +0.27%
USD/JPY 91.94 +0.12 +0.13%
USD/CHF 0.9298 -0.0026 -0.28%
AUD/USD 1.0272 +0.0015 +0.15%
USD/CAD 1.0250 -0.0010 -0.10%
EUR/GBP 0.8584 -0.0031 -0.35%

Bonds

Japan 10yr 0.69-0.03, 3.94

U.S. 10yr 1.86-0.01, 0.38%

CDS

Price Change %Change
AUT CDS 5-YR 43.135 0.095 0.22%
BEL CDS 5-YR 74.02 -0.375 -0.50%
DEN CDS 5Y 31.145 -0.34 -1.08%
DUBAI CDS 5Y 225.00 UNCH 0%
EGY CDS 5Y 610.00 UNCH 0%
FIN CDS 5YR 30.65 -0.40 -1.29%
FRANCE CDS 5YR 80.11 0.575 0.72%
GER CDS 5YR 40.38 0.03 0.07%
GRE CDS 5YR 3835.50 -299.10 -7.23%
HUN CDS 5YR 310.735 1.73 0.56%
INA CDS 5-YR 139.45 1.985 1.44%
IRE CDS 5Y 167.655 -1.035 -0.61%
ITA CDS 5YR 248.96 13.445 5.71%
JPN CDS 5YR 72.30 1.64 2.32%
KOR CDS 5YR 67.35 1.35 2.05%
NED CDS 5YR 53.50 0.035 0.07%
PAN CDS 5-YR 98.105 2.105 2.19%
POR CDS 5-YR 383.635 3.635 0.96%
SVK CDS 5YR 91.02 -2.78 -2.96%
ESP CDS 5YR 260.72 9.715 3.87%
SWE CDS 5-YR 20.91 -0.74 -3.42%
SUI CDS 5Y 40.00 UNCH 0%
UK CDS 5Y 49.245 0.175 0.36%
US CDS 5Y 39.34 -0.665 -1.66%

 

-USA After hours

- CZR: Reports Q4 -$3.75 v -$1.70e, R$2.02B v $2.11Be; -7.5% afterhours
- ADSK: Reports Q4 $0.53 v $0.49e, R$606.9M v $585Me; -2.2% afterhours

-Geopolitical Headliners

News www.antiwar.com
Updated February 26, 2013 – 12:25 AM EST
Obama To Tell Israelis of Plans for Iran War
New Iran Talks Open in Kazakhstan Amid Talks of US War
Former Insiders Criticize Iran Policy as US Hegemony
Making Poor, Sick Iranian Civilians Suffer
Kerry: US to Hasten Syria Regime Change
Rebels Reject Syrian Govt Calls for Negotiations
Report: Assad’s Army Has Fled Entire Area Bordering Israel
West Bank Protests Grow, Fears of New Intifada
Obama’s Diplomatic Overture Will Fall Prey to Israel’s Hawks
Lawmakers Seek End to Draft Registration
Obama Mulls China Sanctions for Trumped-Up Cyber Threat
Afghans: US, NATO Ignored Complaints of Abuses
Cuts May Impede Pentagon’s Ability to ‘Address WikiLeaks’
Viewpoints
Impunity Forever? Iraq and the Betrayal of a People by Hans von Sponeck
Why Massive National Security Leaks Are Good for Us  by Chase Madar
Hundreds Protest Renewed Japanese Militarism  by John V. Walsh
Infantile Conservatism by Patrick J. Buchanan
Eyes Wide Shut on the Iraq War by Ray McGovern
Which New War to Fight? by Eric Margolis
More Viewpoints

-Secretary of State John Kerry warned that there could be “terrible consequences” if international negotiations aimed at curbing Iran’s nuclear program don’t show progress in the coming months.

-The Federal Reserve should stick with its current $85 billion per month bond-buying program, at least into the second half of the year, said Dennis Lockhart, the president of the Atlanta Federal Reserve Bank, on Monday. “All things considered, I do not think that monetary policy has yet crossed the line where the benefits of the current policy — specifically the quantitative easing element — are swamped by serious concerns over problems the policy might be creating for the longer term,” Lockhart said in a speech at the University of Tennessee. Markets have been worried that the Fed will scale back the bond-buying program after the minutes of the central bank’s last meeting in January showed some officials are nervous about making the balance sheet bigger.

-1 John 4:9

 In this was manifested the love of God toward us, because that God sent his only begotten Son into the world, that we might live through him.

-Economic Calendar

Bernanke’s testimony on the hill, and a slew of other data in the USA and the Italian elections are the market focus today.

Time Cur. Imp. Event Actual Forecast Previous
00:00   SGD     Singaporean Industrial Production (YoY) -0.4% 4.0% 1.3%
01:00   GBP     BoE Gov King Speaks
03:15   CHF     Employment Level 4.11M 4.12M
04:30   ZAR     South African GDP (QoQ) 1.60% 1.20%
05:10   EUR     Italian 6-Month BOT Auction 0.731%
06:00   GBP     CBI Distributive Trades Survey 16 17
07:00   BRL     Brazilian Unemployment Rate 5.3% 4.6%
08:30   BRL     Brazilian Bank lending (MoM) 2.40%
08:30   CAD     Corporate Profits (QoQ) 3.7%
08:55   USD     Redbook (MoM) 1.50%
09:00   MXN     Mexican Trade Balance 0.750B 0.962B
09:00   USD     House Price Index (MoM) 0.6% 0.6%
09:00   USD     S&P/CS Home Price Indices Composite – 20 (YoY) 6.6% 5.5%
10:00   USD     CB Consumer Confidence 61.0 58.6
10:00   USD     Fed Chairman Bernanke Testifies
10:00   USD     Mass Layoffs 1.51K
10:00   USD     New Home Sales 381K 369K
10:00   USD     Richmond Manufacturing Index -4 -12
11:30   USD     4-Week Bill Auction 0.115%
13:00   USD     5-Year Note Auction 0.889%
16:00   KRW     South Korean Consumer Confidence 102 102
16:30   USD     API Weekly Crude Stock 2.28M 2.96M
16:30   USD     API Weekly Gasoline Stock -0.43M -0.12M
16:45   NZD     Trade Balance 100M 486M
16:45   NZD     Visitor Arrivals (MoM) 1.8%
18:00   KRW     South Korean Current Account 2.98B
18:50   JPY     Retail Sales (YoY) -1.3% 0.4%
19:30   AUD     Construction Work Done (QoQ) 1.5% 1.7%

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

Newslinks

-Obama releases , criminal illegal immigrant crowd to punish American people like royal thug he  is.

http://www.nytimes.com/2013/02/27/us/immigrants-released-ahead-of-automatic-budget-cuts.html?partner=rss&emc=rss&smid=tw-nytimes

-Bernanke Sets Out Aggressive Debt-Cutting Goal for Congress

shttp://blogs.wsj.com/economics/2013/02/26/bernanke-sets-out-aggressive-goal-for-congress/ …

-Bernanke Defends Asset Buying as Benefits Outweigh Risks

http://www.bloomberg.com/news/2013-02-26/bernanke-defends-asset-purchases-as-benefits-outweigh-risks.html

-Neediest Spaniards Stranded After Banks Sell Loans

http://www.bloomberg.com/news/2013-02-25/neediest-spaniards-stranded-as-banks-sell-debt-mortgages.html

-Italie : une double victoire à la Pyrrhus pour Bersani

http://bit.ly/XXhv2q

Le Figaro

-New Iran Talks Open in Kazakhstan Amid Talks of US War

http://news.antiwar.com/2013/02/25/new-iran-talks-open-in-kazakhstan-amid-talks-of-us-war/

-Fed Faces Explaining Billion-Dollar Losses in Stress of QE3 Exit

http://www.bloomberg.com/news/2013-02-26/italy-political-vacuum-to-extend-for-weeks-as-bargaining-begins.html

-Bankers are honorable men

http://www.marketwatch.com/story/bankers-are-honorable-men-2013-02-26

-Italy Renews Market Concerns as Voters Reject Monti

http://www.bloomberg.com/news/2013-02-25/italy-projections-show-hung-parliament-on-berlusconi-rally.html

-Italy Political Vacuum to Extend for Weeks as Bargaining Begins

http://www.bloomberg.com/news/2013-02-26/italy-political-vacuum-to-extend-for-weeks-as-bargaining-begins.html

-Glencore’s CEO Says Rival Mining Chiefs ‘Really Screwed Up’

http://www.bloomberg.com/news/2013-02-25/glencore-s-glasenberg-berates-mining-ceos-for-building-new-mines.html

-Berlusconi Calls for Recount After Refusing to Concede Defeat

http://www.bloomberg.com/news/2013-02-26/berlusconi-calls-for-recount-after-refusing-to-concede-defeat.html

-Currency Veteran Kuroda Offers BOJ Credibility on Reflation

http://www.bloomberg.com/news/2013-02-25/currency-veteran-kuroda-offers-boj-deflation-fight-credibility.html

-Gold’s Cycle Seen Turned by Goldman as ETP Holdings Collapse

http://www.bloomberg.com/news/2013-02-26/gold-s-cycle-seen-as-turned-by-goldman-as-etp-holdings-collapse.html

-Rabobank Faces Fine of More Than $440 Million for Libor Rigging

http://sfgate.bdc.bloomberg.wallst.com/SFChronicle/Story?docId=1376-MISCVC0D9L3501-4LBCEGVL9S5S1K1IISU99U1DU7

-Chinese transport “workhorses” extending military’s reach

Watch them some day unload a couple of million Communists in San Francisco.

http://www.reuters.com/article/2013/02/25/us-china-military-ships-idUSBRE91O15V20130225

-Hugh Protest Vote Pushes Italy Towards Gridlock

http://www.reuters.com/article/2013/02/26/us-italy-vote-idUSBRE91M0EB20130226

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