Zephyr Global Report, 4/4/2013

Headliners

-MF Global report faults Jon Corzine for brokerage’s demise: trustee (Jew , ex FBI director Louie Freeh)

-USA Weekly Jobless  has big miss at 385k

-Obama to spring Dallas FED, and Enron Anglo-Ashkenazi Criminal Jeff Skilling early

-ECB holds; BOE hollds

-Eurozone Composite PMI slips to 46.5 in March (Feb: 47.9). Services PMI 46.4 (Feb: 47.9).

-SF FED president: QE3 could shrink this summer

-Scientists Find Hint of Dark Matter

-BOJ Eases: will buy 7 trillion yen ($74 billion) of bonds a month, Y/D surges to 94.5, Nikkei Surges 2.2 % into the close, 10 year JGBs fall to .455 %, lowest since 2003

-North Korea: Nuclear Strikes on US Authorized

-Pentagon to deploy THAAD Ballistic Missile Systems To Guam

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

Market Commentary

-Close

Lew the Jew propping the markets up and smashing gold with the help of his Jewish and Anglosaxon confederates  at the BOE/ECB and the London gold cartel. I humbly entreated the Lord to deal with the people who rig this market and corrupt it. The only power we have over evil that is lawful is the power of the Cross of Calvary. No one hates the Cross of Jesus Christ more than the English and Jewish elites and the rabble they lead. Christians  should pray every day the Lord will deal with the Windsors, Rothschilds, Rockefellers and their Jr Partners like the Montefiores, Bush, Clinton(Rockefeller), etc. I caught one German trader, who happened to be a Jew, incensed that the DAX went down today. Imagine all that punk PMI data from the EU, and Draghi’s punk performance and the Jew thought the ESM should have been able to prop the market up. He’s a talkative Jew so I can’t give his feed. The Jew Roubini was gloating about how he nailed the BOJ call. Given Kuroda is a City of London Oxbridge boy, who gives a hoot about that evil Persian Jew and Soros wannabe who lives in London and trades out of London,  says about the London puppet Kuroda. Jews to the left of me, Jews to the right of me, Jews stabbing me in the back, side and head, at least on a metaphorical and spiritual basis and here by his Grace I stand as testimony against you evil Anglosaxons and Jews. Jews even show up on this blog and accuse me of being a traitor Jew and knowing too much about them to not be a Jew. Sorry Jews, you lose on that one as well. You Jews and English are the ultimate losers and I feel sorry for you as hell is so, so very real. You won’t like being with your evil kin down under, and I ‘m not talking about that apartheid Hell-Hole of Oz. I put on more of a DIA short at the close. Tomorrow’s BLS day and if these freaks don’t block my site, I hope to be here tomorrow to dissect the latest BLS obfuscation of jobs report for the Christians who read this blog. Filthy English repent.

MARKETS – AT A GLANCE
4:04 p.m. EDT 04/04/13Major Stock Indexes
Last Change % Chg
DJIA* 14606.11 55.76 0.38
Nasdaq* 3224.98 6.38 0.20
S&P 500* 1559.98 6.29 0.40
DJ Total Stock Market* 16242.64 71.17 0.44
Russell 2000 923.68 4.97 0.54
Global Dow 2087.37 -5.14 -0.25
Australia: S&P/ASX* 4913.50 -44.20 -0.89
India: BSE Sensex* 18509.70 -291.94 -1.55
Japan: Nikkei 225* 12634.54 272.34 2.20
Taiwan: TAIEX* 7942.35 29.17 0.37
France: CAC 40* 3726.16 -28.80 -0.77
Germany: DAX* 7817.39 -57.36 -0.73
Italy: FTSE MIB* 15154.02 -46.28 -0.30
Spain: IBEX 35* 7847.90 -56.40 -0.71
Stoxx Europe 600* 291.71 -3.09 -1.05
UK: FTSE 100* 6344.12 -76.16 -1.19
Brazil: Bovespa 54439.08 -1123.66 -2.02
Canada: S&P/TSX 12349.52 -72.60 -0.58
* at close
4:03 p.m. EDT 04/04/13Treasurys
Price Chg Yield %
2-Year Note -1/32 0.234
10-Year Note 15/32 1.762
* at close
3:54 p.m. EDT 04/04/13Futures
Last Change Settle
Crude Oil 93.32 -1.13 94.45
Gold 1553.2 -0.3 1552.4
E-mini Dow 14533 46 14487
E-mini S&P 500 1553.75 5.25 1548.50
4:04 p.m. EDT 04/04/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 96.20 93.05
Euro (EUR/USD) 1.2934 1.2849
† Late New York trading.

 

-To be clear, I support an accommodative stance of monetary policy while the economy recovers and unemployment remains high. But I view the current policies as overly accommodative, causing distortions and posing risks to financial stability and long-term inflation expectations with the potential to compromise future growth. As the Fed’s balance sheet continues to expand, the risks and costs increase in my view.A key issue that concerns me is the incentives created by an extended period of zero rates. Typically, central bank actions to lower interest rates in response to a recession and boost aggregate demand are reversed relatively quickly, and rates return to more normal levels. In  contrast, following this recession, zero interest rates have been in place for more than four years, combined with large-scale asset purchases and a communications program signaling an extended period of low rates. As a result, the yield curve has flattened, and 10-year rates have remained historically low.

Anglosaxon Witch,  Kansas City FED Head Ester George in today’s speech.

http://kansascityfed.org/publicat/speeches/2013-George-ElReno-Redlands-4-4.pdf?sm=eg040413-3

Sees 2 % GDP and modestly declining unemployment this year.

-Okay newslinks are updated. I will probably just post the closing prices. I was brought the dip into the red and just sold. So I ‘m done day trading.

-Samsung Electronics Co. , stepping up a battle with Apple Inc. (AAPL), will staff mini-stores at Best Buy Co. (BBY)’s U.S. locations to showcase how its tablets, smartphones and televisions work together. BBN

-Medvedev, the Jew, and City of London traitor

Mr. Medvedev had named senior Western bank executives to an advisory council for transforming Moscow’s financial sector. They included Jamie Dimon, the chief executive of JPMorgan Chase; Vikram S. Pandit, the former chief executive of Citigroup; and Lloyd C. Blankfein, the chief executive of Goldman Sachs. NYT

His mother is Jewish.

-USA session Economic Summary and market summary

This morning after a weak opening, the PPT (aka Lew the Jew) came in a goosed markets, which I sold my buy the market open DIA  position into and the market drifted back into the red and has been drifting back into the black as the hidden hand steadies it on another low volume day.

The consensus estimate for the March non-farm payrolls report is +195K, and +205K for the private payrolls component, although many analysts are revising that lower ;a downside reading would likely fuel speculation that the fabled 2h recovery, and the jobs that go with it,  is not going to materialize in the USA anymore than in Europe (as Draghi finally admitted today). This morning’s weekly claims data showed that initial jobless claims are at a four-month high. This morning, moderate Fed governor Lockhart warned that he does not expect to see a breakout in the employment picture this year. Yesterday dove Williams warned that the situation not yet at a point where additional increases of Fed asset purchases could be ruled out. Even hawk Bullard commented that increasing Fed bond purchases is a possible scenario in the face of renewed economic weakness.

Draghi reiterated the standard language and emphasized that Cyprus would not be a template for future bailouts, while again singing the praises of the OMT backstop and ECB. He left the door open if you listened carefully to a rate cut at the next meeting. He also said, the EU was the roach motel and no one was getting out by saying the ECB had no contingency plan to Italy or Cyprus leaving the EU.  About the only people that put the hard questions to him are the Germans and you can tell he hates them, being another slimy Goldman Sachs, satanic Jew. Markets sold off by .5 pc as Draghi spoke and during his QA, and continued to sell off to the EU close. I took some profit on the DAX short at the close.

The BOJ just about doubled the amount of bonds the  Nikkei said they would purchase as Kuroda made his debut. I managed to buy the morning dip and sold the hysterical close. I stayed out of the EU today ex on the short side as I expected Draghi to drop a lead balloon on the market and spew his usual line of Jewish/Goldman Sachs Bull manure. That man does not like Germans!!

The focus is on USA equities tomorrow and perhaps this carefully engineered and brutal take down was to prevent a break out. In many senses keeping gold under control in Yen, Euros, the dollar, and pound during all this QE is a remarkable feat of financial engineering and can only be done by selling someone elses gold. Fundamental are screaming for gold to charge higher but we know Socgen, JPM, HSBC, Barclays, Citi have massive naked short positions in it. At some point the gold rig will fail, and I will bet they are sweating bullets in London on the LBMA one of the most massively corrupt markets of all. When it fails probably only the good Lord knows.

George spoke on the Economy and Yellen speaks after the market close, so that is probably it for my contribution today, although I have some more articles to post. Life and markets move on.

“But this really troubles me if anyone is going to look at that and say, now we shouldn’t reform them, because if we start again – today, the government is guaranteeing 90% of the mortgages. If the government keeps doing this, and markets aren’t allowed to work, we’ll be right back where we were in 2007 and 2008″

Hank Paulson on BBN-TV today on FNH/FRE mortgage writing madness.

Ecometric data

(US) Weekly EIA Natural Gas Inventories: -94 bcf v -88 to -94 bcf expected range

(US) Mar Challenger Job Cuts: 49.2K v 55.4K prior; Y/Y: 30.0% v 7.0% prior

(US) Initial Jobless Claims: 385K v 353Ke; Continuing Claims: 3.063M v 3.050Me

(MX) Mexico Mar Consumer Confidence: 95.4 v 97.7e

(EU) OECD Q4 GDP Q/Q: -0.1 v +0.3% prior
(IE) Ireland Mar Live Register Monthly Change: -2.2K v -1.7K prior; Unemployment Rate: 14.0 v 14.0% prior
(IE) Ireland Feb Industrial Production M/M: +0.4 v -1.1% prior; Y/Y: -0.2 v -3.4% prior
(UK) BOE left both Interest Rates and Asset Purchase Target (APT) at 0.50% and £375B respectively, as expected

(EU) ECB left its Main Refi Rate unchanged at 0.75% (as expected); left Deposit Facility Rate unchanged at 0.00%
(RU) Russia Mar Consumer Prices M/M: 0.3% v 0.5%e; Y/Y: 7.0% v 7.2%e; CPI YTD: 1.9% v 2.0%e
(RU) Russia Mar CPI Core M/M: 0.4% v 0.4%e; Core CPI YTD: 1.3% v 0.9% prior

MARKETS – AT A GLANCE
12:57 p.m. EDT 04/04/13Major Stock Indexes
Last Change % Chg
DJIA 14555.11 4.76 0.03
Nasdaq 3212.70 -5.90 -0.18
S&P 500 1554.75 1.06 0.07
DJ Total Stock Market 16183.44 11.97 0.07
Russell 2000 919.61 0.90 0.10
Global Dow 2082.29 -10.22 -0.49
Australia: S&P/ASX* 4913.50 -44.20 -0.89
India: BSE Sensex* 18509.70 -291.94 -1.55
Japan: Nikkei 225* 12634.54 272.34 2.20
Taiwan: TAIEX* 7942.35 29.17 0.37
France: CAC 40* 3726.16 -28.80 -0.77
Germany: DAX* 7817.39 -57.36 -0.73
Italy: FTSE MIB* 15154.02 -46.28 -0.30
Spain: IBEX 35* 7847.90 -56.40 -0.71
Stoxx Europe 600 291.71 -3.09 -1.05
UK: FTSE 100* 6344.12 -76.16 -1.19
Brazil: Bovespa 54806.68 -756.06 -1.36
Canada: S&P/TSX 12361.23 -60.89 -0.49
 * at close
12:57 p.m. EDT 04/04/13Treasurys
Price Chg Yield %
2-Year Note -0/32 0.226
10-Year Note 13/32 1.769
* at close
12:47 p.m. EDT 04/04/13Futures
Last Change Settle
Crude Oil 92.50 -1.95 94.45
Gold 1547.8 -5.7 1553.5
E-mini Dow 14485 -2 14487
E-mini S&P 500 1549.75 1.25 1548.50
12:57 p.m. EDT 04/04/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 96.14 93.05
Euro (EUR/USD) 1.2877 1.2849
† Late New York trading.

 

-Jews use the CB credit line to advance… and control the world for the English Crown..

Obama picks Goldman Sachs exec for ambassador to Canada

Well known as a high-level fundraiser to Barack Obama, Heyman and his wife Vicki, also a fundraiser, raised more than $1 million for Obama and were on his national finance committee

 

-Bernanke was at the University of Dayton, for the worlds shortest speech on Financial education. He said nothing at all wrt to the markets. The speech is not worth reading. The FED does not want real financial education, vis a vis Murray Rothsbards, ‘The Case against the FED” , they want brainwashed stooges to go along with the England controlled Justus Anglosaxon and Jew banksters running the show. What a Jew clown Bernanke is. When I was a little kid I thought clowns were satanic and still do. Probably we will find out Bozo t he clown was a Jewish or Anglosaxon child molester from England at some point and a relative of Prince Charles.

-”Cyprus is infected by Russian crime,”

Dallas FED Jew President Richard Fisher (on the Frick and Frack Stephanie Rude show on BBN-TV)

The Dallas FED is infected with Jew -Anglo crime Richard Skilling and his 10 convictions are proof of that Jew.

-Justus Obama Department to free Dallas FED and Enron Criminal Jeff Skilling Early

“The Department of Justice is considering entering into a sentencing agreement with the defendant in this matter,” the notice reads. “Such a sentencing agreement could restrict the parties and the Court from recommending, arguing for, or imposing certain sentences or conditions of confinement. It could also restrict the parties from challenging certain issues on appeal, including the sentence ultimately imposed by the Court at a future sentencing hearing.”

CNBC

Holder’s LGBTs and Jews at “Justus” refused comment.

A striking resemblance Skilling (on the left) to Prince Charles.

-Greedy Zionist Jews still want all the oil in the world and to control the middle east

Noble Energy Inc.  said Thursday its Tamar field off the coast of Israel is producing about 300 million cubic feet a day. The company also boosted reserve estimates for the natural-gas field.Tamar’s gross resource estimates were moved up to 10 trillion cubic feet from 9 trillion cubic feet, Noble said. The company operates the Tamar field, in which it holds a 36% stake. Other owners include Isramco Negev 2, Delek Drilling, and two companies.

Hey, Prince Charles ‘real’ trust fund is CVX, BP, etc. What a foul, foul people. As the ZGR has long expected the City of London insiders and all their pals get all the data at least 1 minute before you do. That is how the Anglo-Hebraics do it. If you recall an article I posted on GS, GS London was actually treated far better than GS NYC, wrt to the employees, etc. I now know for sure. Bloomberg and Reuters need to be investigated for steering news to their kike pals first. After all no less than the kike that runs the NYSE was caught steering feeds to his kike pals first, before the rest of the market so the price data. Computers need seconds, or even milliseconds to make decisions. Greedy Israel, Greedy England. Same clip joint owners.

-Markets

12:01 p.m. EDT 04/04/13Major Stock Indexes
Last Change % Chg
DJIA 14558.92 8.57 0.06
Nasdaq 3214.03 -4.57 -0.14
S&P 500 1556.17 2.48 0.16
DJ Total Stock Market 16197.12 25.65 0.16
Russell 2000 920.41 1.70 0.19
Global Dow 2082.68 -9.83 -0.47
Australia: S&P/ASX* 4913.50 -44.20 -0.89
India: BSE Sensex* 18509.70 -291.94 -1.55
Japan: Nikkei 225* 12634.54 272.34 2.20
Taiwan: TAIEX* 7942.35 29.17 0.37
France: CAC 40 3726.16 -28.80 -0.77
Germany: DAX 7817.39 -57.36 -0.73
Italy: FTSE MIB 15154.02 -46.28 -0.30
Spain: IBEX 35 7847.90 -56.40 -0.71
Stoxx Europe 600 291.71 -3.09 -1.05
UK: FTSE 100 6344.12 -76.16 -1.19
Brazil: Bovespa 55084.76 -477.98 -0.86
Canada: S&P/TSX 12377.84 -44.28 -0.36
* at close
12:00 p.m. EDT 04/04/13Treasurys
Price Chg Yield %
2-Year Note -0/32 0.226
10-Year Note 12/32 1.775
* at close
11:51 a.m. EDT 04/04/13Futures
Last Change Settle
Crude Oil 92.73 -1.72 94.45
Gold 1547.8 -5.7 1553.5
E-mini Dow 14498 11 14487
E-mini S&P 500 1552.00 3.50 1548.50
12:01 p.m. EDT 04/04/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 96.10 93.05
Euro (EUR/USD) 1.2853 1.2849
† Late New York trading.

-These evil analysts are all lowering their forecasts big time for tomorrows number so the scum on WS can say, ‘we beat expectations’ after the big whiffle ball this morning.

-Research firm Gartner Inc. said world-wide shipments of PCs, tablets and mobile phones are on pace to total 2.4 billion units in 2013, a 9% increase from 2012.Combined shipments of personal computers, tablets and mobile phones are forecast to continue to grow, reaching more than 2.9 billion units in 2017, but the mix of these devices will significantly change over the forecast period, Gartner said, noting the proliferation of lower-priced tablets and their growing capability is accelerating the shift to tablets from PCs.The firm noted the traditional PC market of notebooks and desk-based units is expected to decline 7.6% in 2013, adding this “is not a temporary trend induced by a more austere economic environment; it is a reflection of a long-term change in user behavior.”World-wide tablet shipments are forecast to total 197 million units in 2013, a 70% increase from 2012 shipments of 116 million units, driven by lower prices, form factor variety, cloud update and apps. MW

-Federal Reserve officials on Thursday tried to dampen suggestions of a quick end to their bond-buying program. At a forum for students and economics at the University of Dayton, Chicago Fed President Charles Evans said that a high bar exists to pulling back on bond buying, according to Dow Jones Newswires. Evans said that Fed officials must not become complacent that a recovery is underway. At the same event, Atlanta Fed President Dennis Lockhart said he has not seen any evidence yet to suggest that the economy is going to be much different this year than the modest pace of growth seen over the past four years, according to Bloomberg News. Evans is a voting member of the Fed’s interest-rate-setting committee this year while Lockhart is not. MW

- Portugal PM said govt.  must follow through on the bailout program, Portugal continues to get positive feedback on bailout performance Notes that the opposition party calls for a no confidence vote creates political instability; opposition proposal to renegotiate the bailout deal would just lead to a second bailout.

- The Bundesbank is said to have launched a probe of Deutsche Bank over hidden losses incurred during the financial crisis. The German Bundesbank responded to article and noted that it would not divulge any measures pertaining to individual institutions but did examine all accusations against banks to see if they were valid. German Press

- Japan update

BOJ’s  Kuroda first press conference noted that today’s policy announcement would change expectations drastically as all steps taken were needed to hit the 2% inflation target. He added that it might end policy before 2% target was achieved if price stability is confirmed, the BOJ would not hesitate to act to adjust monetary policy if necessary and would not take action in an incremental manner. There was limited scope for BOJ to expand JREIT purchases due to market size but to buy JGB’s with 10-year and longer maturities in a balanced manner and not disrupt markets. He was not worried over any surge in long-term interest rates and could have room to purchase ETF’s. He reiterated that he had no concerns of asset bubble in stocks or bonds at this time. Lastly he noted that currency would weaken when monetary easing takes place ,

BOJ provided details on its new scheme. It would buy ¥6.2T of bonds over rest of April and purchase around in ¥7.5T JGBs per month from May. Monthly purchases of JGBs with maturities over 10 years ¥800B, ¥3.4T for JGBs with maturities of 5-10 years, ¥3.0T for JGB with maturities of 1-5 years, ¥220B for JGBs with maturities under 1 year. Set bimonthly purchases of floating rate JGBs at ¥140B, sets bimonthly purchase of inflation-indexed JGBs at ¥20B .

Japan PM Abe BoJ gov Kuroda has fulfilled his expectations with the BoJ action.. Japan Econ Min Amar commented that the BOJ decision was a bold step and moving in line with PM’s Abe directives; Govt must continue with fiscal reconstruction efforts. JPY currency softness reflected how markets perceived BOJ steps. BOJ policy was not fiscal financing .- Japan Fin Min Aso commented that the market’s reaction to BOJ decision was in line with expectations and he expected the BOJ to continue easing to achieve the 2% inflation target. Japan Your Party chief Watanabe stated that he favored reconfirmation of Kuroda as BOJ chief for full term.

-I was astounded at the opening price I got and glad to see Jack Lew the Jew show up to prop markets up and starting to sell my DIA position long to him.

-Markets

9:46 a.m. EDT 04/04/13Major Stock Indexes
Last Change % Chg
DJIA 14599.50 49.15 0.34
Nasdaq 3220.58 1.97 0.06
S&P 500 1558.62 4.93 0.32
DJ Total Stock Market 16219.58 48.11 0.30
Russell 2000 919.46 0.75 0.08
Global Dow 2089.45 -3.06 -0.15
Australia: S&P/ASX* 4913.50 -44.20 -0.89
India: BSE Sensex* 18509.70 -291.94 -1.55
Japan: Nikkei 225* 12634.54 272.34 2.20
Taiwan: TAIEX* 7942.35 29.17 0.37
France: CAC 40 3746.54 -8.42 -0.22
Germany: DAX 7867.18 -7.57 -0.10
Italy: FTSE MIB 15220.98 20.68 0.14
Spain: IBEX 35 7899.70 -4.60 -0.06
Stoxx Europe 600 293.15 -1.65 -0.56
UK: FTSE 100 6370.16 -50.12 -0.78
Brazil: Bovespa* 55562.74 673.64 1.23
Canada: S&P/TSX 12400.06 -22.06 -0.18
* at close
9:45 a.m. EDT 04/04/13Treasurys
Price Chg Yield %
2-Year Note -1/32 0.230
10-Year Note 7/32 1.789
* at close
9:36 a.m. EDT 04/04/13Futures
Last Change Settle
Crude Oil 93.22 -1.23 94.45
Gold 1547.4 -6.1 1553.5
E-mini Dow 14500 13 14487
E-mini S&P 500 1549.75 1.25 1548.50
9:46 a.m. EDT 04/04/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 95.60 93.05
Euro (EUR/USD) 1.2845 1.2849
† Late New York trading.

-Very interesting. I was able to confirm London has at least   60 second advanced feed to both the ECB statement, and the press conference. That is ‘forever’. The English are the most extraordinary criminal tribe in the modern world. It looks like the Germans have the worst feed in Europe. Boy I nailed the English red handed and they were far ahead of the WSJ feed even. Filthy English. Filthy london. Filthy lying cheating English cretins.

-Markets

Draghi is on last Q. Markets dropped about .5 % in europe as he waved his arms. He was not sufficiently dovish imo. Your stops should have taken you out automatically for the day on the long side.

9:34 a.m. EDT 04/04/13Major Stock Indexes
Last Change % Chg
DJIA 14573.55 23.20 0.16
Nasdaq 3216.38 -2.22 -0.07
S&P 500 1555.75 2.06 0.13
DJ Total Stock Market 16189.08 17.61 0.11
Russell 2000* 918.71 -15.59 -1.67
Global Dow 2084.99 -7.52 -0.36
Australia: S&P/ASX* 4913.50 -44.20 -0.89
India: BSE Sensex* 18509.70 -291.94 -1.55
Japan: Nikkei 225* 12634.54 272.34 2.20
Taiwan: TAIEX* 7942.35 29.17 0.37
France: CAC 40 3746.37 -8.59 -0.23
Germany: DAX 7869.32 -5.43 -0.07
Italy: FTSE MIB 15220.02 19.72 0.13
Spain: IBEX 35 7905.20 0.90 0.01
Stoxx Europe 600 293.26 -1.54 -0.52
UK: FTSE 100 6372.89 -47.39 -0.74
Brazil: Bovespa* 55562.74 673.64 1.23
Canada: S&P/TSX* 12422.12 -259.98 -2.05
Get this by E-mail * at close
9:33 a.m. EDT 04/04/13Treasurys
Price Chg Yield %
2-Year Note -1/32 0.234
10-Year Note 8/32 1.787
* at close
9:24 a.m. EDT 04/04/13Futures
Last Change Settle
Crude Oil 92.91 -1.54 94.45
Gold 1547.6 -5.9 1553.5
E-mini Dow 14497 10 14487
E-mini S&P 500 1550.50 2.00 1548.50
9:34 a.m. EDT 04/04/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 95.60 93.05
Euro (EUR/USD) 1.2795 1.2849
† Late New York trading.

-USA Open

U.S. STOCKS OVERVIEW
9:31 a.m. EDT 04/04/13Major Indexes
Last Change % Chg
DJIA 14556.88 6.53 0.04
Nasdaq 3217.75 -0.85 -0.03
S&P 500 1554.41 0.72 0.05

-Draghi: these questions vastly underestimate what the euro means for Europeans and the amount of political capital invested in it

-Draghi: Policy tools  both standard and non standard being considered (to resolve crisis), denies ECB out of tools

-Draghi:Denies he is defacto head of the EU

-Draghi: run the country and the banking system more conseratively than you would otherwise

-Draghi: impact of OMT has been significant not just on sovereign spreads but also on corporate borrowing costs

-Draghi: ECB does not act politically (lie) , re Cyprus question

-Draghi:  we acted exactly within our mandate, we would have been acting politically if we had not done this (limited ELA), re Cyprus

-Draghi: we view positively any measure that breaks links between sovereigns & banks (with regards to ESM direct bank recap)

-Draghi: do not believe fiscal multipliers have been underestimated, more that domestic demand has been weaker than expected

-Draghi: would be a much more difficult environment to pursue the necessary reforms outside the euro

-Draghi: what was wrong with Cyprus economy does not stop being wrong if they are outside the euro

-Draghi: ideally uninsured depositors should be the very last category to be touched, draft directive sees this

- Draghi: Hopes to Get Legal Basis of OMT in Time for First Use

-Draghi: much of the restructuring & resolution framework does not call for mutualising losses, much is about aligning laws & rules

-Draghi: its quite clear there are differing views about mutualising potential banking losses

-Draghi:draft directive under discussion, specifies order, like to see these rules enter into force way before 2018, like 2015

-Draghi: Very Urgent to Have European Resolution Framework

-Draghi: lack of capital buffers and other buffers can make a bail-in disorderly event

-Draghi: we should also ask the question, what makes a bail-in a problem? by itself not a problem, lack of ex-ante rules makes it disorderly

-Draghi:entry into force of the SSM is absolutely essential, no better way to prevent crisis than shedding light on national banking systems

-Draghi: Cyprus events show, we are ready to act within our mandate, when we objected to ELA, we acted within our mandate

-Draghi: after the Cyprus event, see that Target 2 balances continue to decline, 50% of the net amount injected by the LTRO has been repaid

-Draghi: Cyprus is no template

-Draghi: Thanks to OMT, We can Deal With Serious Crises Without them Being Systemic

-Draghi: ECB does not pre-commit on interest rates

-Draghi: role of national central banks in assessing national credit quality becomes important

-Draghi: non-standard measures – we are looking at various tools, take into account other countries experiences & our institutional context.

-Draghi ” Cyprus initial levy proposal on insured depositors ‘not smart’.

-Draghi :  ECB will assess data and and stands ready to act

-Draghi Opening Statement

Introductory statement to the press conference

Mario Draghi, President of the ECB,
Vítor Constâncio, Vice-President of the ECB,
Frankfurt am Main, 4 April 2013

Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council.

Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged. HICP inflation rates have declined further, as anticipated, and price developments over the medium term should remain contained. Monetary and loan dynamics remain subdued. Inflation expectations for the euro area continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2% over the medium term. At the same time, weak economic activity has extended into the early part of the year and a gradual recovery is projected for the second half of this year, subject to downside risks. Against this overall background our monetary policy stance will remain accommodative for as long as needed. In the coming weeks, we will monitor very closely all incoming information on economic and monetary developments and assess any impact on the outlook for price stability. It is essential for governments to intensify the implementation of structural reforms at national level and to strengthen euro area governance, including the implementation of the banking union. They should also build on progress made in fiscal consolidation and proceed with financial sector restructuring.

We are also closely monitoring money market conditions and their potential impact on our monetary policy stance and its transmission to the economy. As said on previous occasions, we will continue with fixed rate tender procedures with full allotment for as long as necessary.

Let me now explain our assessment in greater detail, starting with the economic analysis. The outcome for real GDP in the fourth quarter of 2012 was weak, with Eurostat’s second estimate indicating a contraction of 0.6% quarter on quarter. The decline was largely due to a fall in domestic demand but also reflected a drop in exports. Recent data and indicators confirm that the economic weakness extended into the early part of the year. Looking forward, euro area export growth should benefit from a recovery in global demand and our monetary policy stance should contribute to support domestic demand. Furthermore, the improvements in financial markets seen since last summer should work their way through to the real economy, notwithstanding recent uncertainties. Together, this should help stabilise euro area economic activity and lead to a gradual recovery in the second part of the year. At the same time, necessary balance sheet adjustments in the public and private sectors, and the associated tight credit conditions, will continue to weigh on economic activity.

This economic outlook for the euro area remains subject to downside risks. The risks include the possibility of even weaker than expected domestic demand and slow or insufficient implementation of structural reforms in the euro area. These factors have the potential to dampen the improvement in confidence and thereby delay the recovery.

According to Eurostat’s flash estimate, euro area annual HICP inflation was 1.7% in March 2013, down from 1.8% in February. The ongoing decline in annual inflation rates mainly reflects the energy component of the price index. Looking ahead, price developments over the medium term should remain contained in an environment of weak economic activity in the euro area. Inflation expectations are firmly anchored and in line with price stability over the medium to long term.

Risks to the outlook for price developments continue to be broadly balanced over the medium term, with upside risks relating to stronger than expected increases in administered prices and indirect taxes, as well as higher oil prices, and downside risks stemming from weaker economic activity.

Turning to the monetary analysis, the underlying pace of monetary expansion continues to be subdued. The annual growth rate of M3 moderated to 3.1% in February, down from 3.5% in January. The annual growth rate of the narrow monetary aggregate, M1, increased to 7.0% in February, from 6.6% in January. At the same time, MFI deposits in a number of stressed countries strengthened further in February.

The annual growth rate of loans (adjusted for loan sales and securitisation) to non-financial corporations and households remained broadly unchanged in February, at -1.4% and 0.4% respectively. To a large extent, subdued loan dynamics reflect the current stage of the business cycle, heightened credit risk and the ongoing adjustment of financial and non-financial sector balance sheets. At the same time, available information on non-financial corporates’ access to financing indicates tight credit conditions, particularly for small and medium-sized enterprises in several euro area countries.

In order to ensure adequate transmission of monetary policy to the financing conditions in euro area countries, it is essential that the fragmentation of euro area credit markets is reduced further and the resilience of banks strengthened where needed. However, considerable progress has been made since last summer in improving the funding situation of banks, in strengthening the domestic deposit base in stressed countries and in reducing reliance on the Eurosystem as reflected in repayments of the three-year LTROs. Further decisive steps for establishing a banking union will help to accomplish this objective. In particular, in the light of recent experience, we must emphasise that the future Single Supervisory Mechanism and a Single Resolution Mechanism are crucial elements for moving towards re-integrating the banking system and therefore require swift implementation.

To sum up, taking into account today’s decision, the economic analysis indicates that price developments should remain in line with price stability over the medium term. A cross-check with the signals from the monetary analysis confirms this picture.

As regards fiscal policies, euro area countries should build on their efforts to reduce government budget deficits and continue to implement structural reforms, thereby mutually reinforcing fiscal sustainability and economic growth. Fiscal policy strategies need to be complemented by growth-enhancing structural reforms. Such reforms should be ambitious and broad-ranging, encompassing product markets, including network industries, labour markets and the modernisation of public administration. To support employment, wage-setting should become more flexible and better aligned with productivity. These reforms will help countries in their efforts to regain competitiveness, set the foundations for sustainable growth and support the return of macroeconomic confidence.

We are now at your disposal for questions.

European Central Bank
Directorate General Communications and Language Services
Press and Information Division
Kaiserstrasse 29, D-60311 Frankfurt am Main
Tel.: +49 69 1344 7455, Fax: +49 69 1344 7404
Internet: http://www.ecb.europa.eu

Reproduction is permitted provided that the source is acknowledged.

-845 QA Starting w/Dracula

-Draghi: must emphasize that an SSM & single resolution mechanism are crucial for integrating the banking system, must be implemented

-Draghi: available info on nfc access to financing indicate tight credit conditions, particularly for SMEs in several countries

-Draghi: available info on nfc access to financing indicate tight credit conditions, particularly for SMEs in several countries

-Draghi: annual growth rate of loans to nfcs and households remained broadly unchanged in Feb

-Draghi: annual growth rate of M3 3.1% in Feb down from 3.5% in Jan, M1 growth increased to 7% in Feb from 6.6% in Jan

-Draghi: the ongoing decline in annual inflation rates mainly reflects energy component of the price index

-Draghi: inflation expectations are firmly anchored, risks are broadly balanced, upside risks from indirect taxes & higher oil prices. (we rig gold)

-Draghi: necessary balance sheet adjustments in the public and private sectors will continue to weigh on econ activity

-Draghi: slow, but insufficient structural reform have potential to dampen recovery

-Draghi: recovery in 2H is subject to “downside risks”

-Draghi: improvements in financial markets seen since last summer should work their way through to the real econ

-Draghi: econ weakness has extended in this year, euroarea export growth should benefit from growth in external demand

-Draghi: contraction of 0.6% in q4 2012, due to fall in domestic demand and a drop in exports

-Draghi: we will continue with fixed rate full allotment tender procedures for as long as necessary

-Draghi: monetary policy will remain accomodative as long as is needed

-Bitcoin hacked by Jack Lew the Jew?

http://venturebeat.com/2013/04/03/bitcoin-wallet-instawallet-hacked/

-U.S. jobless claims jump 28,000 to 385,000

The number of people who applied for new unemployment benefits jumped 28,000 to a four-month high of 385,000 in the week ended March 30, the Labor Department said Thursday, but much of the increase likely reflects seasonal quirks related to the Easter holiday and spring break. Economists surveyed by MarketWatch had predicted claims would fall to 350,000 from an unrevised 357,000 in the prior week. The raw claims numbers were virtually identical for both weeks, however, suggesting that the government’s seasonal-adjustment process exaggerated the increase. Still, the spike in claims adds to other recent reports suggesting that the pace of hiring in the U.S. has slowed. Meanwhile, the average of new claims in the last four weeks rose by 11,250 to 354,250 to mark a one-month high. Also, Labor said continuing claims decreased by 8,000 to a seasonally adjusted 3.06 million in the week ended March 23. Continuing claims reflect the number of people already receiving benefits. Initial claims from two weeks ago were unrevised at 357,000, based on more complete data collected at the state level. MW

-Evil Satanic Money Printing Jew, Draghi up in 2 minutes.  Lets hope he does not turn it into a Soap Opera 1 hr drama like last time. What a BS artist.

-Well with the BOJ and ECB up and Bernanke and 3 of  his sidekick goons up you should have known to have gone long the Nikkei, DAX and Dow at some point.

-EU Credit Markets

Looks like the ESM got into the act or ECB with the poor EU data: The Noyer put. The last auction was too close to the fire in Spain, and they must have complained.

Key Bond Prices

U.S. 10yr 1.80-0.01, 0.82%
German 10y 1.27-0.02, 1.74%
Italy 10yr 4.46-0.08, 1.81%
Spain 10yr 4.87-0.05, 1.09%
U.K. 10yr 1.74-0.02, 0.97%
Japan 10yr 0.46-0.101, 8.38%

Major Auctions

(ES) Spain Debt Agency (Tesoro) sold total €4.31B vs. €3.0-4.0B indicated range in 2016, 2018 and 2021 bonds 
Sells €3.06B in 3.25% April 2016 Bono; Avg Yield 3.019% v 5.106% prior; Bid-to-cover: 1.86x v 2.38x prior; Max Yield 3.046% v 5.13% prior; Tail 2.7bps
Sells €590M 4.1% July 2018 Bono; Avg yield 3.598% v 4.193% prior; Bid-to-cover: 4.09x v 2.9x prior; Maximum Yield 3.619% v 4.242% prior; Tail: 2.1bps
Sells €660M in 5.5% 2021 Bonos; Avg Yield 4.477% v 5.517% prior; Bid-to-cover: 2.06x v 1.77x prior; Max Yield 4.496% v 5.555% prior; Tail 1.9bps
 (FR) France Debt Agency (AFT) sold total €6.97B vs. €6.0-7.0B indicated rate in 2020, 2021 and 2022 Oats
Sold €2.49B in 3.5% Apr 2020 OAT; Avg Yield 1.26% v 1.46% prior; Bid-to-cover: 2.86x v 1.98x prior
Sold €2.47B in 3.75% Apr 2021 OAT; avg yield 1.54% v 3.61% prior; Bid-to-cover: 3.0x v 3.1x prior
Sold €2.006B in 2.25% Oct 2022 OAT; Avg Yield 1.94% (record low) v 2.10% prior; Bid-to-cover: 3.1x v 2.20x prior

-EU Session Economic Release Summary


(IE) Ireland Mar NCB Services PMI: 52.3st v 53.6 prior; lowest since Aug 2012
(SE) Sweden Mar PMI Services: 47.3 v 54.2e; first contraction since Dec 2012
(CZ) Czech Feb Retail Sales Y/Y: -4.7% v -2.0%e
(DK) Denmark Q4 Final GDP Q/Q: -0.7% v -0.9%e; Y/Y: -0.6% v -1.0%e
(HU) Hungary Feb Retail Trade Y/Y: -1.4% v -2.0%e
(ES) Spain Mar Services PMI: 45.3 v 44.3e, 21st straight monthly contraction
(EU) ECB: €233M borrowed in overnight loan facility vs. €746M prior; €139.2B parked in deposit facility vs. €146.2B prior
 (IT) Italy Mar PMI Services: 45.5 v 43.3e
(FR) France Mar Final PMI Services: 41.3 v 41.9e
(DE) Germany Mar Final PMI Services: 50.9 v 51.6e
(EU) Euro Zone Mar Final PMI Services: 46.4 v 46.5e ; PMI Composite: 46.5 v 46.5e 

(NO) Norway Feb Retail Sales Volume M/M: 0.5% v 0.2%e; Y/Y: -0.6% v +2.7% prior
(UK) Mar PMI Services: 52.4 v 51.5e; (highest since Aug 2012)
(EU) Euro Zone Feb PPI M/M: 0.2% v 0.2%e; Y/Y: 1.3% v 1.4%e
(IC) Iceland Feb Final Trade Balance (ISK): 7.6B v 7.6B prelim
(CY) Cyprus Mar Consumer Price Index M/M: 0.7% v 0.2% prior; Y/Y: 1.1% v 1.6% prior

-Italian Political Theater

Bersani won a majority in the lower house but not the Senate in February elections, leaving his center-left group unable to govern alone. He failed last week in efforts to forge a viable majority in parliament after his overtures to the anti-establishment 5-Star Movement were rebuffed.Renzi, 38, who lost to Bersani last December in a vote to be the center-left election candidate, gave interviews to several Italian newspapers saying he was ready to be a candidate in new leadership primaries.Renzi had previously hesitated to challenge Bersani, a former communist politician who threw away a 10-point opinion poll lead in the February 24-25 election which left Italy in political deadlock.But in recent days he has become increasingly outspoken in attacking Bersani’s line that a “grand coalition” alliance with scandal-plagued center-right leader Berlusconi is unthinkable. Reuters

UNICREDIT’S GHIZZONI FAVORS USING BIG DEPOSITS IN BANK FAILURES!!!

-Beautiful Spring Rains!

- Announced layoffs fell in March, but longer-term trends reflected a pausing labor market, according to data released Thursday by outplacement consultancy Challenger, Gray & Christmas. Layoffs announced in March declined to about 49,000, down 11% from February. However, plans for job cuts were up 30% from the same period in the prior year, led by downsizing retailers. While the labor market has seen months of substantial employment gains, data released this week indicated . According to Challenger’s report, during the first quarter announced layoffs reached about 145,000 — the highest result since 2011′s third quarter — up 1.4% from the same period in the prior year. Challenger also said the large federal spending cuts making up the sequester could curb job growth going forward. MW

-Markets

7:52 a.m. EDT 04/04/13Major Stock Indexes
Last Change % Chg
DJIA* 14550.35 -111.66 -0.76
Nasdaq* 3218.60 -36.26 -1.11
S&P 500* 1553.69 -16.56 -1.05
DJ Total Stock Market* 16171.44 -187.78 -1.15
Russell 2000* 918.71 -15.59 -1.67
Global Dow 2089.68 -2.83 -0.14
Australia: S&P/ASX* 4913.50 -44.20 -0.89
India: BSE Sensex* 18509.70 -291.94 -1.55
Japan: Nikkei 225* 12634.54 272.34 2.20
Taiwan: TAIEX* 7942.35 29.17 0.37
France: CAC 40 3788.24 33.28 0.89
Germany: DAX 7920.84 46.09 0.59
Italy: FTSE MIB 15425.77 225.47 1.48
Spain: IBEX 35 8010.20 105.90 1.34
Stoxx Europe 600 294.96 0.16 0.05
UK: FTSE 100 6408.29 -11.99 -0.19
Brazil: Bovespa* 55562.74 673.64 1.23
Canada: S&P/TSX* 12422.12 -259.98 -2.05
* at close
7:52 a.m. EDT 04/04/13Treasurys
Price Chg Yield %
2-Year Note -1/32 0.238
10-Year Note 2/32 1.808
* at close
7:43 a.m. EDT 04/04/13Futures
Last Change Settle
Crude Oil 94.43 -0.02 94.45
Gold 1546.4 -7.1 1553.5
E-mini Dow 14545 58 14487
E-mini S&P 500 1555.50 7.00 1548.50
7:53 a.m. EDT 04/04/13Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 95.48 93.05
Euro (EUR/USD) 1.2816 1.2849
† Late New York trading.

- The Federal Reserve will not rule out tapering quantitative easing, known as QE3, and announcing an end date, said Atlanta Federal Reserve Bank President Dennis Lockhart on Thursday. Lockhart acknowledged the Fed recognizes there may be unintended consequences of the build-up of its balance sheet in relation to this program, in an interview on CNBC. The tone on the economy is more optimistic than before with more intentions of investments from businesses, said the Fed president, referring to the Southeast region. However, there was more cautiousness on hiring prospects, Lockhart added. A long-term creditable deficit-reduction plan from Congress is needed, said Lockhart. MW

-Link to ECB/Draghi Speech, starts at 0830 EDT

http://www.ecb.int/press/tvservices/webcast/html/webcast_130404.en.html

-BOE Holds

The Bank of England on Thursday offered no surprises, leaving the size of its bond-buying program unchanged and holding its key lending rate at a record low 0.5%. The bank’ Monetary Policy Committee left its asset purchaes, the centerpiece of its quantitative-easing strategy at 375 billion pounds ($564 billion). MW

-745 ECB holds

PRESS RELEASE

4 April 2013 – Monetary policy decisions

At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.

European Central Bank
Directorate General Communications and Language Services
Press and Information Division
Kaiserstrasse 29, D-60311 Frankfurt am Main
Tel.: +49 69 1344 7455, Fax: +49 69 1344 7404
Internet: http://www.ecb.europa.eu
 
http://www.ecb.int/press/pr/date/2013/html/pr130404.en.html
 

Reproduction is permitted provided that the source is acknowledged.

-744 ECB State in 2 minutes

- Markit’s head economist said the Cypriot crisis had yet to register on the EU economy.

The recession is deepening once again as businesses report that they have become increasingly worried about the region’s debt crisis and political instability. The unresolved election in Italy was commonly cited as a key factor clouding the economic outlook in March, and the botched bail-out of Cyprus could well filter through to a further worsening of business sentiment across the region in April.

-Cyprus state TV RIK reports that “important documentary evidence” at the Bank of Cyprus destroyed. Cyprus issued another day of draconian capital controls, 3 rd in a row.

-Gold hit in London for nearly $10 after weak EU data.

-UK service sector PMI up to 52.4 (Feb: 51.8)

-The euro-zone service sector contracted at its fastest pace since late last year in March, the Markit purchasing managers’ index for the sector confirmed Thursday. Services PMI fell to 46.4 from 47.9 in February and came in slightly below a preliminary reading of 46.5. A figure below 50 indicates a contraction in activity. The composite PMI, which combines services and manufacturing data, came in at 46.5, matching a preliminary estimate and down from 47.9 in February for the weakest reading since November. Economists said data points to a slide toward deeper recessin for the region. “While the first quarter contraction [by the euro-zne economy] is likely to have been less steep than the 0.6% decline seen in the final quarter of last year, the concern is that the euro-zone downturn shows no signs of ending,” said Chris Williamson, chief economist at Markit. MW

-0432

FTSE 100,6,403-15, 0.24%
DAX 7,880+9. , 0.12%
CAC 40 , 3,769+14, 0.37%
FTSE MIB 15,338+136, 0.89%
IBEX 35, 7,963+63, 0.79%
Stoxx 600, 294-1, – 0.27%

-Very lousy set of final PMI for the EU, German Svs PMI in particular, yet the markets are up? Of course they started to tank and the hidden hand emerged to push them back up. What a ham -fist Draghi/Regling have. No finesse at cheating and manipulating. At lest the Stoxx 600 is down a bit. 

 -Business confidence in French service sector turns negative in March: first time in 5 months that companies expect activity to fall. Markit

-Eurozone Composite PMI slips to 46.5 in March (Feb: 47.9). Services PMI 46.4 (Feb: 47.9).

-Germany Services PMI down sharply to 50.9 in March (Feb: 54.7). Comp PMI at 50.6 (Feb: 53.3).

-France Services PMI at 41.3 (Feb: 43.7), 49-month low. France Comp PMI at 41.9 (Feb: 43.1), 48-month low.

-Italy Services PMI up to three-month high of 45.5 in March (Feb: 43.6)  to highest since April ’2012

-Further marked reduction in Spanish services activity: PMI at 45.3 in March (Feb: 44.7)

-BOJ Statement

http://www.boj.or.jp/en/announcements/release_2013/k130404a.pdf

 

-224 China/Asia Closing prices

Country: Index Last Change % Chg
Asia Dow 2938.85 -8.77 -0.30
DJ Asia-Pacific TSM 1373.37 -4.15 -0.30
Australia: All Ordinaries* 4919.30 -47.10 -0.95
Australia: S&P/ASX* 4913.50 -44.20 -0.89
China: DJ CBN China 600* 20692.04 -45.07 -0.22
China: DJ Shanghai* 282.80 -0.69 -0.24
China: Shanghai Composite* 2225.29 -2.44 -0.11
China: Shenzhen Composite* 913.32 -8.09 -0.88
China: Shanghai 50* 1789.67 6.45 0.36
Hong Kong: Hang Seng* 22337.49 -30.33 -0.14
India: BSE Sensex 18667.21 -134.43 -0.71
India: S&P CNX Nifty 5624.05 -48.85 -0.86
Indonesia: JSX Index 4942.93 -38.53 -0.77
Indonesia: JSX BISNIS 27 424.15 -4.01 -0.94
Indonesia: JSX Islamic 663.52 -6.26 -0.93
Indonesia: JSX LQ-45 835.87 -7.62 -0.90
Indonesia: PEFINDO-25 515.71 -10.92 -2.07
Indonesia: SRI-KEHATI 265.59 -2.45 -0.91
Japan: DJ Japan TSM* 649.14 17.19 2.72
Japan: Nikkei 225* 12634.54 272.34 2.20
Japan: TOPIX Index* 1037.76 27.33 2.70
Malaysia: DJ Malaysia TSM 3161.06 0.95 0.03
Malaysia: FTSE Bursa Malaysia KLCI 1685.19 -0.21 -0.01
New Zealand: NZX 50* 4430.17 17.32 0.39
S. Korea: KOSPI* 1959.45 -23.77 -1.20
S. Korea: KOSPI 50* 1681.91 -23.85 -1.40
S. Korea: KOSPI 100* 1946.10 -25.53 -1.29
S. Korea: KOSPI 200 Composite* 257.05 -3.31 -1.27
Singapore: FTSE Straits Times 3314.60 -7.17 -0.22
Taiwan: TAIEX* 7942.35 29.17 0.37
Thailand: SET 1496.27 -24.25 -1.59

 

-Futures

Futures Index Value % Change Open High Low Time
Americas Futures
DJIA INDEX FUTURE Jun13 14,534.00 +0.32% 14,489.00 14,534.00 14,483.00 02:05:03
S&P 500 FUTURE Jun13 1,553.10 +0.30% 1,548.60 1,553.50 1,546.10 02:06:33
NASDAQ 100 FUTURE Jun13 2,794.00 +0.25% 2,785.25 2,794.00 2,785.25 02:04:57
Europe, Middle East & Africa Futures
EURO STOXX 50 Jun13 2,584.00 +0.23% 2,581.00 2,585.00 2,579.00 02:01:52
FTSE 100 IDX FUT Jun13 6,364.00 -0.15% 6,347.00 6,364.00 6,340.50 02:01:09
DAX INDEX FUTURE Jun13 7,909.00 +0.16% 7,902.00 7,913.00 7,897.00 02:02:0

 

- 0130 Asia

Lower than expected economic data out of the US set the direction for the opening of the Asian bourses. The Nikkei225 lost much of yesterday’s gain in the morning session as investors anxiously awaited the results of the BoJ policy meeting. North Korea continued its aggressive tone, and continued to block the industrial complex for 2nd consecutive day.The USA announced it was moving and advanced anti-ICBM system to Guam in response. Reuters reported it would take at least six months to start the reactor and years to make additional bombs. The payload delivery system to hit the USA is simply not there.

Japan

Tokyo stocks were turning upward midway through the afternoon session Thursday, with the Nikkei Stock Average jumping about 100 points to trade in the mid-12,400 range.The Bank of Japan decided to implement bolder monetary easing steps at its two-day policy board meeting that ended in the early afternoon. Investors began buying stocks aggressively, saying the latest measures announced by the central bank offered more than they expected.The BOJ will increase the amount of long-term bonds it will purchase and extend the remaining maturity by more than market participants had expected. The BOJ will also increase the amounts of exchange-traded funds and real estate investment trusts by about 1 trillion yen a year and by about 30 billion yen, respectively.The dollar’s rise from the upper-92 yen level to the 94+ yen level is also prompting stock buying.

Japan’s Nikkei Average surged up as the session closed out, and ended  +2.2%  at 12,634.54. Markets were surprised to the upside as the BOJ decided to launch a much more aggressive than expected easing program, promising new qualitative and quantitative measures, that was about double what analysts had predicted for the increase in quantitative easing. The total new monthly size of asset purchases was increased to 77T from Y3.8T. The board adopted “monetary base control” by unanimous vote – intending to conduct money market operations so the monetary base will rise at annual pace of Y60-70T.  BOJ also underscored its commitment to a time horizon of 2 years to achieve 2% CPI target. As expected, the BOJ also terminated the Asset Purchase Program, with the purchase of JGBs for money market operations to be absorbed into new program. Lastly, the BOJ voted to temporarily suspend the bank note rule, potentially sparking scrutiny into its intent of monetizing governmentdebt. USD/JPY is up sharply – rising about 150 pips toward Y94.50 in the hour after the statement, EUR/JPY is up nearly 200pips above Y121.20,

Mitsubishi Heavy was awarded major nuclear facility construction deal in Turkey.

China

According to a survey by Nikkei , about 50% of analysts expect PBOC to start raising its base lending rate within the next 12 months . China said it may postpone Japan, South Korea meeting regarding island row.

Korea

North Korea informs companies in Gaesong industrial zone to leave by Apr 10th . South Korea government official said North Korea continues to block industrial complex for 2nd straight day .South Korea Defense Ministry official: sees no unusual North Korea troop movement since earlier threat.

NHTSA says Hyundai recalls 1M vehicles and Kia Motors recalls 624K vehicles due to a faulty brake light switch.

Australia/New Zealand

New Zealand real estate agency Barfoot & Thompson: Auckland Mar House Sales 1,430; Avg House Prices +6.9% (record high) . RBNZ reviews non-bank deposit takers regime.

Australia’s  Feb. retail surged 1.3 %, the biggest increase m/m since Nov. of 2009.

Australia regulator ASIC orders BOQ to refund customers about A$12M after system errors.

Economic Release Summary

(JP) BANK OF JAPAN (BOJ) LEAVES TARGET RATE RANGE UNCHANGED BETWEEN 0.0-0.1%; TOTAL NEW MONTHLY SIZE OF ASSET PURCHASES ¥7.0T V ¥3.8T CURRENT; BRINGS FORWARD OPEN ENDED PURCHASES (cancels APP); EXTEND DURATION OF JGBS IT PURCHASES TO 40 YEARS
(AU) AUSTRALIA FEB BUILDING APPROVALS M/M: 3.1% V 2.5%E; Y/Y: 12.8% V 14.3%E
(AU) AUSTRALIA FEB RETAIL SALES M/M: 1.3% V 0.3%E (biggest increase since Nov 2009)
(AU) AUSTRALIA MAR AIG PERFORMANCE OF SERVICE INDEX: 49.6 V 48.5 PRIOR (14th consecutive month of contraction)
(TH) THAILAND MAR CONSUMER CONFIDENCE ECONOMIC: 75.0 V 74.3 PRIOR

Country: Index Last Change % Chg
Asia Dow 2933.60 -14.02 -0.48
DJ Asia-Pacific TSM 1370.55 -6.97 -0.51
Australia: All Ordinaries* 4919.30 -47.10 -0.95
Australia: S&P/ASX* 4913.50 -44.20 -0.89
China: DJ CBN China 600* 20692.04 -45.07 -0.22
China: DJ Shanghai* 282.80 -0.69 -0.24
China: Shanghai Composite* 2225.29 -2.44 -0.11
China: Shenzhen Composite* 913.32 -8.09 -0.88
China: Shanghai 50* 1789.67 6.45 0.36
Hong Kong: Hang Seng* 22337.49 -30.33 -0.14
India: BSE Sensex 18668.73 -132.91 -0.71
India: S&P CNX Nifty 5626.40 -46.50 -0.82
Indonesia: JSX Index 4942.93 -38.53 -0.77
Indonesia: JSX BISNIS 27 424.15 -4.01 -0.94
Indonesia: JSX Islamic 663.52 -6.26 -0.93
Indonesia: JSX LQ-45 835.87 -7.62 -0.90
Indonesia: PEFINDO-25 515.71 -10.92 -2.07
Indonesia: SRI-KEHATI 265.59 -2.45 -0.91
Japan: DJ Japan TSM 639.87 7.92 1.25
Japan: Nikkei 225 12458.65 96.45 0.78
Japan: TOPIX Index 1023.34 12.91 1.28
Malaysia: DJ Malaysia TSM 3160.92 0.81 0.03
Malaysia: FTSE Bursa Malaysia KLCI 1685.19 -0.21 -0.01
New Zealand: NZX 50* 4430.17 17.32 0.39
S. Korea: KOSPI 1957.95 -25.27 -1.27
S. Korea: KOSPI 50 1681.43 -24.33 -1.43
S. Korea: KOSPI 100 1944.95 -26.68 -1.35
S. Korea: KOSPI 200 Composite 256.87 -3.49 -1.34
Singapore: FTSE Straits Times 3311.42 -10.35 -0.31
Taiwan: TAIEX* 7942.35 29.17 0.37
Thailand: SET 1494.05 -26.47 -1.74

Credit Suisse analysts: Sees 2013 iron ore at $124/MT, 2014 at $100/MT – financial press
 GLD: SPDR Gold Trust ETF daily holdings fall by 2.7 tons to 1,206.2 ton (lowest since 1,205.4 tons in Jul, 2011)

Gold 1548.05 -5.45 -0.35%
Silver 26.810 +0.013 +0.05%
Copper 3.314 -0.017 -0.50%
Crude Oil 94.45 0.00 0.00%
Natural Gas 3.914 +0.008 +0.20%
US Cotton No.2 89.08 -0.03 -0.03%
US Coffee C 139.12 +3.45 +2.54%

 

EUR/USD 1.2831 -0.0018 -0.14%
GBP/USD 1.5107 -0.0026 -0.17%
USD/JPY 94.36 +1.31 +1.41%
USD/CHF 0.9466 +0.0013 +0.14%
AUD/USD 1.0449 -0.0013 -0.12%
USD/CAD 1.0149 +0.0003 +0.03%
EUR/GBP 0.8494 +0.0004 +0.04%

Bonds

The mother of all rallies in JGB’s on BOJ easing

Japan 10yr 0.49-0.07, 13.06

U.S. 10yr 1.80-0.01, 0.82%

-In addition to the ECB, we have Bernanke and 3 other FOMC members speaking today.

-The Bank of Japan satisfied markets with a host of new monetary easing Thursday that sent the yen tumbling and stocks paring their losses sharply. The central bank said it would introduce “quantitative and qualitative monetary easing,” with steps including hiking purchases of Japanese government bonds to an annual pace of “about 50 trillion yen” ($530 billion), buying bonds of all maturities rather than the previous three-year-from-maturity limit, increasing purchases of exchange-traded funds and real-estate investment trusts, and terminating its previous asset-purchase program. The stock market cheered the results, with the Nikkei Stock Average-0.19% paring its 1.7% loss to a 0.3% fall. Likewise, the yen plunged, with the USDJPY +1.1982% shooting up to 93.70 yen in a matter of minutes from ¥92.90 just ahead of the result. MW

Late  USA trading day speeches

US FED’s Bullard (hawk, FOMC voter): Prefers to see more data before considering tapering bond purchases
Fed’s Williams (dove, FOMC non-voter): Fed could begin reducing bond buying by the summer, could end bond buying in 2013.

-I think Kim would fit right in at Buckingham palace. What did this Korean loon and the English one therein?

-Military Officials Believe War Imminent

by Jason Ditz, April 03, 2013

North Korea continues to talk up their belief that war with the United States is imminent, with the military issuing a statement saying that they believe the “war could break out today or tomorrow.”

This is actually a step back from previous statements, with officials declaring on Friday that they reckoned war was “only hours away.” This was followed with a public declaration of a state of war.

The military’s statement went on to say that they had approval for multiple nuclear weapons strikes against US targets, and that US threats for war would be “smashed by cutting-edge smaller, lighter and diversified nuclear strike means.”

Though North Korea has talked up the prospect of using nuclear weapons in a war with the United States, they are not believed to actually have a deliverable nuclear weapon, having succeeded with underground tests but having neither the miniaturization technology to mount one in a warhead nor the missile technology to actually hit the United States.

www.antiwar.com

-Geopolitical Update

News www.antiwar.com
Updated April 4, 2013 – 12:36 AM EDT
North Korea: Nuclear Strikes on US Authorized
Pentagon: North Korea a ‘Real and Clear Danger’
North Korean Threats Raise Danger of Inadvertent War
Specter of US Expansionism Prevents Resolution to Korea Tensions
Escalating Korea Crisis Dims Hopes for Denuclearization
Hagel Outlines Impending Defense Cuts
53 Killed as Taliban Attack Afghan Court
Brussels Talks Fail: No Serbian Deal on Kosovo
Govt Spying on Peaceful Political Dissidents
Israel ‘On Alert’ as Tensions Soar in W. Bank, Gaza
US: Nuclear Talk Progress Depends Entirely on Iran
Viewpoints
Sam Harris, the New Athiests, and Anti-Muslim Animus by Glenn Greenwald
US ‘Human Rights’ Wars: Arms Control as a Weapon  by Glen Ford
Obama’s War at Home: Driving the Government Underground by Jane Powers
Behind the US-North Korean Bluster by Jack A. Smith
Leaks, COIN, and Modern War Michael Ostrolenk interviews Tony Shaffer
Why US Can’t Deliver Women’s Rights to Afghanistan by Malou Innocent

-Welcome back

Take heed therefore that the light which is in thee be not darkness.

Luke 11-35, KJV

-

Economic Calendar

Lots on the plate today!!

Time Cur. Imp. Event Actual Forecast Previous
Tentative   JPY     Interest Rate Decision 0.10% 0.10%
Tentative   GBP     Halifax House Price Index (MoM) 0.2% 0.5%
03:13   EUR     Spanish Services PMI 44.2 44.7
Tentative   JPY     BoJ Press Conference
03:43   EUR     Italian Services PMI 43.5 43.6
03:48   EUR     French Markit Comp. PMI 42.10
03:48   EUR     French Services PMI 41.9 41.9
03:53   EUR     German Services PMI 51.6 51.6
03:58   EUR     Services PMI 46.5 46.5
04:00   NOK     Norwegian Core Retail Sales (MoM) 0.30% 1.00%
04:28   GBP     Services PMI 51.5 51.8
04:50   EUR     Spanish 3-Year Bonos Auction 2.713%
04:50   EUR     Spanish 5-Year Bonos Auction 3.557%
05:00   EUR     PPI (MoM) 0.1% 0.6%
05:00   EUR     French 10-Year OAT Auction 2.10%
05:00   EUR     French 7-Year OAT Auction 1.83%
07:00   GBP     BOE QE Total 375B 375B
07:00   GBP     Interest Rate Decision 0.50% 0.50%
07:30   USD     Challenger Job Cuts (YoY) 7.0%
07:45   EUR     Interest Rate Decision 0.75% 0.75%
08:30   EUR     ECB Press Conference
08:30   USD     Continuing Jobless Claims 3,050K 3,050K
08:30   USD     Initial Jobless Claims 350K 357K
08:45   USD     Chicago Fed President Evans Speaks
09:30   BRL     Brazilian Auto Sales (MoM) -24.50%
09:45   USD     Bloomberg Consumer Confidence -34.4
10:00   MXN     Mexican Consumer Confidence 95.50
10:30   USD     Fed Chairman Bernanke Speaks
10:30   USD     Natural Gas Storage -91B -95B

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

Newslinks 

-Stabilizing Confidence Shows U.S. Claims Jump Temporary

http://www.bloomberg.com/news/2013-04-04/jobless-claims-in-u-s-increased-more-than-forecast-last-week.html

-Euro area march services contracts more than expected

http://www.bloomberg.com/news/2013-04-04/euro-area-march-services-output-shrinks-more-than-estimated-1-.html

-Draghi Signals ECB Stands Ready to Ease Policy If Needed

http://www.bloomberg.com/news/2013-04-04/draghi-signals-ecb-to-keep-policy-loose-ease-again-if-needed.html

-BOJ doubles bond buys in Kuroda opening salvo

http://www.bloomberg.com/news/2013-04-04/bank-of-japan-boosts-bond-purchases-at-kuroda-s-first-meeting.html

-European Stocks Drop for a Second Day on Draghi Comments

http://www.bloomberg.com/news/2013-04-04/european-stock-index-futures-rise-as-boj-expands-stimulus.html

-Ex-Goldman Trader Admits to Hiding $8 Billion Position

http://www.bloomberg.com/news/2013-04-03/ex-goldman-sachs-trader-to-plead-guilty-his-lawyer-says.html

-Freeh Says Corzine’s Risky Strategy Helped Fell MF Global

http://www.bloomberg.com/news/2013-04-04/freeh-says-corzine-s-risky-strategy-helped-fell-mf-global.html

-Moscow trying to reinvent itself as a financial hub

http://www.nytimes.com/2013/04/04/business/global/moscow-tries-to-remake-itself-as-financial-center.html?smid=tw-share&_r=0

-How the Government Killed Martin Luther King, Jr. http://bit.ly/Zczoiq 

-EZB-Chef: Draghi findet sich in deformierter Währungsunion wieder http://on.welt.de/YUhT3r 

 

-European Central Bank leaves benchmark interest rate unchanged. http://on.wsj.com/10ypbs5 

-Bank of England leaves QE and interest rates unchanged http://gu.com/p/3eqz6/tf 

-Cyprus faces “very unfavorable” outlook in near term: Sarris http://reut.rs/10rpPZm 

-New U.N. arms treaty faces rough road in U.S. Senate http://reut.rs/10azeog 

-Bill Clinton to receive advocacy award from gay lobbying group http://reut.rs/10aFVqv 

-North Korea can likely revive reactor in six months, needs years for more bombs http://reut.rs/10aGArU 

-Palestinian youth shot to death as West Bank seethes http://reut.rs/106RUoU 

-Bank of Japan Boosts Bond Purchases as Kuroda Takes Helm

http://www.bloomberg.com/news/2013-04-04/bank-of-japan-boosts-bond-purchases-at-kuroda-s-first-meeting.html

-Space Station Collects Clues on Universe’s Dark Matter

http://www.bloomberg.com/news/2013-04-03/space-station-collects-clues-on-universe-s-dark-matter.html

-China Turns Graveyard From Goldmine Hurting Ship Makers: Freight

http://www.bloomberg.com/news/2013-04-03/china-turns-graveyard-from-goldmine-hurting-ship-makers-freight.html

-Pickens Says Energy Boom Defies ‘Incompetent’ Washington

http://www.bloomberg.com/news/2013-04-03/pickens-says-energy-boom-defies-incompetent-washington.html

-Canada Seen Beating U.S. in $150 Billion Asia LNG Race

http://www.bloomberg.com/news/2013-04-02/canada-seen-beating-u-s-in-150-billion-asia-lng-race.html

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2 Responses to Zephyr Global Report, 4/4/2013

  1. zephyrglobalreport.com says:

    thanks. the queens raise is a joke. her family take the majority of the worlds drug trade. currently $1 tln a year. she just is so evil and greedy she cant resist nicking the tax payers. the ‘divine’ right of kings is divine as in lucifer, not Divine.

    no doubt the sandy hook actors association got away with murder in that psyop. the only people that might have died were adam lanza and his mom.

  2. Christian says:

    Fyi …
    http://www.thetruthseeker.co.uk/?p=68237 “royal” Queen Lizard gets whopping raise

    http://www.dailymail.co.uk/news/article-2303016/Queen-gets-pay-rise-receiving-5million-taxpayers-money-official-duties.html?ito=feeds-newsxml

    http://globalfire.tv/nj/09en/jews/killingguide.htm The Complete Guide to Killing Non-Jews

    http://www.independent.co.uk/news/world/americas/obama-the-antichrist-global-warming-a-myth-lizard-people-controlling-the-world-conspiracy-theory-research-reveals-bizarre-beliefs-prevalent-in-us-8558384.html

    Pretty lousy “stats” … in my world 93% know apollo was horse apples, not “7%”. Also …

    ” 5% of voters believe that Paul McCartney died in 1966″. What a joke. Wrong signature, ears, height, fingerprints (Japan) DNA (Germany lawsuit re paternity) etc etc. Voice analysis oy vey. NB fake paul married a jew (eastman) real Paul was engaged to a Celt like he was.
    That model freaked when she found out the charade, got paid off to keep mouth shut. etc

    http://www.ammoland.com/2013/04/every-mass-shooting-in-the-last-20-years-shares-psychotropic-drugs/#axzz2PVzILitO

    Sorry, but Sandy Hook was a psy-op.

    Nice site, video experts http://www.cluesforum.info/
    Xpictoc Voc kpec !!!

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