-Richmond FED mfg Index prints 0 in Sept
-Athens Universities announce closures due to budget cuts
-Kenyan Westgate Mall Hoax goes into Day 4
-JPM, Barclays, CS, etc being sued by USA Regulators over LIBOR manipulation. Credit Unions join in.
- PBOC ramping up money market injections amid rising SHIBOR rates.
- China banks forced to raise deposit rates to generate liquidity; Mortgage rates also on the upswing as price gains in the property sector show little sign of abating.
-JFK Assassination -Colonel Prouty
-Sexual Decadence in Weimar Germany
The Kenyan Hoax NWO shooting enters its 4 th day. With the SAS/Mossad/IDF CIA/Kenyan Military&Police, and now the FBI, failing to roust a handful of reported gun men left for a fourth day. Close examination of the press photos shows most of these people appear to be crisis actors with no real wounds but lots of bad make up. Bill Clinton is at the UN weeping and making the most of his Jewish friend from Europe that was supposedly killed along with her common law English husband. The UN is in a global gun grab mode and in the mode to have the USA military ‘secure’ the African continent for European resource needs. This is a Kenyan version of the Sandy Hook shootings. The longer they drag this out the more lies the media seems to tell and the more unbelievable the stories are becoming. Anytime you see IDF/Mossad/CIA/SAS/MI6/FBI congregating around the scene of a crime you know the purpose is cover up of the globalist crimes. I guess the good news is that few, if any really died.
President Obama on today at the UN said he would use the remainder of his time in office to pursue better relations with Iran in the hope of resolving the controversy surrounding its nuclear program, pledging an activist U.S. agenda in the Middle East and beyond despite growing isolationist pressure at home.In a 50-minute address to the U.N. General Assembly, Obama also said he would devote his diplomatic efforts in the strategic region to securing an Israeli-Palestinian peace agreement, hopeful that talks now underway through American encouragement may end the long conflict. He said “real breakthroughs” on those two issues would “have a profound and positive impact on the entire Middle East and North Africa.”Obama called for quick passage of a U.N. Security Council resolution enforcing a still-tenuous agreement under which Assad would give up his chemical weapon arsenal, which U.S. officials say he recently used against his own people. He called it the “bare minimum” of what the United Nations must do to help end the war.
Trading has been choppy in USA markets due to the data and the FED talking heads whipsawing the tape following yesterday’s talks and political posturing on the budget shut down. September worker confidence index fell to its lowest level in four months. The Richmond FED district an important USA mfg center mfg index collapsed to zero in September: Shipments ,-1 verus prior 17; New orders, 5 versus prior 16; Employment, -6 versus prior 6. The S&P/CS July home price survey was up slightly, while the corresponding Federal July home price survey saw prices slightly better in the month. Meanwhile both Lennar and KB Homes are in positive territory after pretty decent Q3 reports. Both firms topped consensus estimates on strong growth. KB Homes’ CEO said the recent slower pace of recovery caused by an uptick in mortgage interest rates was temporary, and said consumers would adjust to both higher rates and pricing.
Applied Materials has struck a giant deal to buy rival Tokyo Electron in an all-share deal, creating a company with a combined stock market value of $29B. Tokyo Electron shareholders will receive 3.25 shares of the new company while AMAT shareholders will receive 1 share. Applied Materials shareholders will own 68 percent of the new entity.Manufacturers are consolidating as production shifts toward semiconductors for mobile phones and tablet computers that require more advanced equipment.
China sovereign wealth fund China Investment Corp has acquired a 12.5% equity stake in Uralkali, as Beijing takes advantage of turmoil among crop nutrient providers to secure stable fertilizer supplies and possibly reduce the chances of a Russia-Belarus cartel being revived. The $2.0B deal is structured as a bond exchange with no cash changing hands.
Red Hat is down 11.6% this morning after offering some weak Q3 guidance, even as the Q2 report more or less met expectations. Multiple analysts downgraded the name overnight, and one pointed out that Q2 billings missed consensus by the most in several years, impacted by weak demand in EMEA.
National Oilwell Varco said it would spin off its distribution business to its shareholders as a separate, publicly-traded company. The new company would provide maintenance, repair and operating supplies to energy and industrial companies. The spinoff is expected to be finished in the first half of next year.
Carnival PLC did moderately well it its Q3, however its Q4 outlook was terrible, thanks to projected impact of FX issues on the firm’s EPS in the quarter. In addition, the company warned that advance bookings for the remainder of 2013 and the first half of 2014 are behind the prior year at prices in line with prior year levels. CCL is down more than 6%.
Roubini the Rothschilds London aparatchik was out helping his relatives at the Central Banks bash gold. Taper on/Taper off/when and uncertainty is keeping the markets eyes off the burgeoning USA deficits and flat lined USA, no jobs economy. Gold for entering the post German election season, the failure to taper, and easy money talk out of the ECB and easy money out of the PBOC has failed to respond, likely in a death grip to keep the LMBA/CME solvent as well as the banks naked shorting gold on gold leases. There is a move afoot in Europe following the German lead to repatriate gold from NYC and London and bring it home. Hard to say if the EU central banks will be bent to the will of the people given how all of them have supplied their gold so willingly to London and NYC for gold loans and gold price management. You can’t have your cake and eat it too, unless you’re a CB apparently.
(US) Sept Richmond Fed Manufacturing: 0 v 14.0 prior
(US) July S&P/ CaseShiller 20 City M/M: 0.62% v 0.80%e; Y/Y: 12.39% v 12.4%e; HPI: 162.49 v 162.69e
(US) July House Price Index M/M: 1.0% v 0.8% prior
(US) Sept Consumer Confidence Index: 79.7 v 81.5 prior
(US) Redbook Retail Sales w/e Sept 20th +3.6% y/y, Sept MTD: -0.4% m/m; Sept YTD: +3.9% y/
(CA) Canada July Retail Sales M/M: 0.6% v 0.5%e; Retail Sales Ex Auto M/M: 1.0% v 0.6%e
|Japan: Nikkei 225||14732.61||-9.81||-0.07%|
|Stoxx Europe 600||313.20||0.58||0.19%|
|UK: FTSE 100||6571.46||14.09||0.21%|
|Australia $ (AUD/USD)||0.9404||-0.0026|
|Swiss Franc (USD/CHF)||0.9115||0.0005|
|WSJ Dollar Index||72.93||0.06|
|E-mini S&P 500||1698.50||5.75||0.34%|
|U.S. 10 Year||15/32||2.650|
|German 10 Year||24/32||1.842|
|Japan 10 Year||8/32||0.676|
ECB’s Nowotny reiterates Draghi’s comments yesterday in Norway today: that it is not yet in situation to think about exit from measures and that monetary policy reversal to come when economy is back on track as Too early exit may create emerging market liquidity risk. He also said Low bank demand for LTRO may reflect less ECB reliance and that ECB guidance is not a deviation from existing policy.
DWN reports that the ECB will only begin work as a single supervisor for eurozone banks if eurozone governments provide a commitment to recapitalize struggling banks. Separately, Elsevier reports that the Dutch governing VVD party has voiced its opposition to the current plans for banking union.
The Wall Street Journal is reporting that Alex Wilmot-Sitwell, a former top UBS executive, is under fire over the testimony he gave to UK Parliament in January, regarding attempts by traders to fix the rate at which banks would lend to each other. Wilmot-Sitwell told MPs on the Treasury Committee that he didn’t recall Tom Hayes, one of the traders at the heart of the scandal. But the WSJ’s David Enrich has discovered that Wilmot-Sitwell was included on various emails which discussed Hayes – who was charged over the Libor affair in June.
The US credit union regulator has filed an anti-trust lawsuit against 13 major international banks as part of the global crackdown in the Libor rate-rigging scandal. The National Credit Union Administration (NCUA) said it aims to recover some of the funds lost by five corporate credit unions it supervised and which have since failed, according to a statement posted on the NCUA website on Monday.The complaint – that the banks violated both federal and regional anti-trust laws – was filed in a Kansas court, the agency said.The NCUA noted that around 40 lawsuits have been filed around the world in relation to rate manipulations at Libor, the London Interbank Offered Rate, a leading benchmark used in financial transactions.So far, three banks – UBS, Royal Bank of Scotland and Barclays – have been fined a total of around $US2.5 billion ($A2.67 billion) to offset the losses.In addition to these three banks, the NCUA has now filed suit against Societe Generale, UBS and Crdit Suisse, as well as JPMorgan Chase, Lloyds Banking Group, WestLB, Raiffensen Bank, Norinchukin Bank, Bank of Tokyo Mitsubishi UFJ and Banque royale du Canada.In a separate statement, the regulatory agency announced another lawsuit against Morgan Stanley and eight other international banks for having sold nearly $US2.4 billion in “faulty securities” to credit unions. The NCUA said the lawsuit aimed to recover some of the losses, which caused five corporate credit unions to fail.The lawsuit, filed in New York federal court, targets JPMorgan Chase, Credit Suisse, Royal Bank of Scotland, UBS, Goldman Sachs, Wachovia (now Wells Fargo) and Ally Bank.
German coalition talks are grinding their way forward as the various parties jockey for political positions in the new govt.German Bundestag Pres Lammert said the first sitting of the lower house seen on Oct 22nd. The German Foundation of Family Entrepreneurs has issued a statement calling for a shift in German approach to the EU, arguing, “The mantra, that the way out of the debt crisis can only be achieved by further centralization in Europe, has had its day. Britain and the Netherlands already ask to check the EU Commission competences. The principle must be: European [level] if necessary, national and regional, if possible…We expect that Chancellor Merkel pushes these reforms in Europe.”Der Spiegel suggests that, in exchange for joining a coalition, the SPD may push for an easing of eurozone austerity. However, there was further indication that the current eurozone policy will not change with Merkel saying, “Our European policy course will not change”, and German Finance Minister Wolfgang Schäuble stressing that if the SPD or Greens wish to enter a coalition with the CDU/CSU they must stick to current eurozone approach.
Wolfgang Schauble, said Tuesday there would be no major change to Berlin’s policy of trying to resolve the euro debt crisis with strict budgetary discipline. Schauble told the “Leipziger Volkszeitung” regional newspaper that any possible Merkel-led government coalition would remain loyal to the course pursued over the past couple of years despite strong headwinds from a number of fellow eurozone partners who’d argued that too much austerity would nip any nascent growth in the bud.The German Finance Minister made it abundantly clear that he was not willing to give in to demands by France and some southern European governments to deviate from the previous austerity course with a view to being able to spend more to encourage growth.”I’m also in favor of more growth and more jobs,” Schäuble said. “But I believe that only through budget consolidation and accompanying structural reforms can you get there.” He claimed that higher pubic deficits would not be a solution to the crisis, but would rather exacerbate it.
Bundesbank’s Lautenschlaeger said sustained low interest rates over a long period can weaken bank earnings, is a worrying prospect.Allianz: ECB’s low interest rates have cost Germans €5.8bn and made citizens in the rest of eurozone gain €34bn. S&P Kraemer said there is much public and private deleveraging still ahead in Europe.
Confidence among German executives rose slightly in September, the Munich-based Ifo economic institute reported on Tuesday when presenting its monthly sentiment barometer based on a poll among 7,000 managers.The think tank’s closely watched overall index climbed to 107.7 points, up slightly from the 107.6 points recorded a month earlier.The sub-index measuring executives’ current business slipped to 111.4 points from 112 points in August, while the outlook barometer moved up to 104.2 points from 103.3 points in the previous month.KfW Chief Economist Jörg Zeuner said Germany’s GDP could expand as much as 2 percent next year, butt added he was less optimistic for the rest of Europe.”There’s still a lot of doubt around as to whether some nations are able to start paying back their accumulated debt, and that uncertainty means there’s a potential for disappointment,” Zeuner said.
Sweden Riksbank Jansson reiterates conditions for a rate hike will not be in place in the first half 2014. He said the rate path can tolerate some upward revision of economic outlook and that rising housing prices and a pick -up in borrowing is worrying and that further measures on household debt are necessary.
The Troika is pressuring Greece privatization fund (TAIPED) to speed up asset sales, denying pressuring Greek govt to privatize Water. Troika is doubtful of Greece projections for a primary surplus in 2013 and 2014. Troika sees a very small primary deficit in 2013 and is very skeptical of the planned 1.5% surplus in 2014. Greece Fin Ministry will not be able to pay off €8B in arrears this year. Greece and Troika agree 2013 GDP to contract 4%, from previous estimate of 4.2% . An anonymous EU source in Brussels claimed the Greek would not be getting another haircut and was already getting significant aid. National and Kapodistrian University of Athens is suspending all of its operations due to budget cuts. This University of Athens announcement was followed by an announcement more or less the same issued by the National Technical University of Athens (NTUA).These decisions came after the Education Ministry announced that 1,655 administrative employees will be suspended from the universities around the country.
In an interview with the WSJ, Spanish Prime Minister Mariano Rajoy said, “Spain is out of recession but not out of the crisis,” adding that he did not expect that Spain would need to extend its bank bailout program into next year. Spanish PM Rajoy also said the govt revised up its official outlook for 2014 GDP growth to 0.7% from 0.5%. Spain is having record tourism, but it is doubtful given his bad bank loans are increasing and his jobless rate is declining and would be even higher if people had not left for Latin American jobs.
Turkey Central Bank Gov Basci: Turkey plans to issue medium term outlook soon. The depreciation of TRY (Lira) should be treated as a normal development, and should not worry the private sector. The Lira is over depreciation level, may fall to 1.80 next year is capital inflows increase.
(BE) Belgium Sept Business Confidence: -6.7 v -7.7e
|UK: FTSE 100||6571.46||14.09||0.21%|
|France: CAC 40||4195.61||23.53||0.56%|
|Stoxx Europe 600||313.20||0.58||0.19%|
|Japan: Nikkei 225||14732.61||-9.81||-0.07%|
-Dudley threatens to taper to control gold/dollar
The leader of the Federal Reserve Bank of New York on Tuesday said it remains possible the central bank will trim the pace of bond buying before the year is done.Speaking to CNBC, William Dudley said Fed Chairman Ben Bernanke‘s outlook for monetary policy, which holds that an $85-billion-a-month bond-buying stimulus program could shrink before the close of the year and end some time in 2014, remains “intact.”Mr. Dudley spoke in the wake of last week’s Fed meeting. That gathering caught markets by surprise when the Fed didn’t shrink the pace of bond buying. Most had expected the Fed to pull back, but it didn’t.In a press conference, Mr. Bernanke explained concern about the pace of the recovery caused the Fed to keep constant its level of support.“What we did is completely consistent with what the chairman laid out in his press conference,” Mr. Dudley said. The actions taken by the Fed were data dependent, and because the incoming economic information had been tepid and under expectations, no one in markets should have been surprised by the Fed’s decision, he said. WSJ
-Applied Materials agreed to acquire Tokyo Electron to create the largest provider of chip manufacturing equipment. WSJ
-Ha, ha…what a Hate Hoax this Kenyan Shooting is..you can’t believe the English write this propaganda when you read it..ROFL.
How about this one. ‘Genius’ English ‘white widow’ escapes MI5/MI6/Scotland Yard’s grasp after 7/7 to direct attacks in Kenya.
Mossad in Charge of operation…CIA/FBI..MI5/MI6 on standby..rofl
CIA Asset?/Amherst College Grad and Kenyan President Uhuru Kenyatta. His Dad was first President of Kenya and was in constant conflict with Obama’s dad over politics in Kenya. Obama would like him out of office. Obama’s cousin ran against him in the last election. Basically Kenya has a Christian majority that is large compared to the Radical and often violent Muslim tribes which Obama backs as his reported father was part of the Muslim political minority in Kenya.
-Bill Clinton Gets in on Kenyan Hate Hoax ‘Glory’
Global Gun confiscator. All time BS artist and WTC/Okalahoma City Perp Bill Rockefeller honing in on the ‘glory’. Don’t worry USA tax payers are paying for a full junket of FBI agents to go to Kenya to ‘investigate’. They will figure it out just like on 911.
Clinton is a very mentally sick man. He can turn those crocodile tears on or off at will. Praises European Jewess who supposedly died in attack. Its always about the Jews with him. More UN Bull manure.
Bill Clinton is speaking in New York currently and has again paid tribute to Elif Yavuz who died in the attack.
source : Guardian, Twitter
IFO Economists: Manufacturers expect better exports, but they should not overestimate the small drop in IFO business conditions. Overall, the outlook is very positive, the new German govt can count on an economic tailwind.
(DE) GERMANY SEPT IFO BUSINESS CLIMATE: 107.7 V 108.0E; CURRENT ASSESSMENT: 111.4 V 112.5E
(FI) FINLAND AUG PPI M/M: 0.3% V -0.1% PRIOR; Y/Y: -0.9% V 0.0% PRIOR
(IT) ITALY AUG NON-EU TRADE BALANCE: €559M V -€903M PRIOR
(UK) AUG BBA LOANS FOR HOUSE PURCHASE: 38.2K V 39.0KE (highest since Dec 2009)
(ID) Indonesia sells IDR12T in 2-Year, 5-year, 10-year, 15-year and 30-year bonds
(NL) Netherlands Debt Agency (DSTA) sells €2.35B v €2.0-3.0B indicated in 2016 bonds; Avg Yield: 0.435% v 0.495% prior
(ES) Spain Debt Agency (Tesoro) sells total €3.58B v €2.5-3.5B indicated range in 3-month and 9-month bills
Sells €2.81B in 3-month Bills; Avg Yield: 0.291% v 0.155% prior; Bid-to-cover: 3.85x v 4.1x prior; Max Yield: 0.318% v 0.199%; Tail: 2.7bps v 3.7bps prior
Sells €768M in 9-month Bills; Avg Yield: 0.980% v 1.089% prior; Bid-to-cover: 2.64x v 1.95x prior; Max Yield: 1.004% v 1.120%; Tail: 2.4bps v 3.1bps prior
Stoxx50 sectors Utilities +1%, Consumer Cyclical +0.8%, Technology +0.7%, Consumer Non-Cyclical +0.40%, Energy +0.20%, Telecom +0.10%; Industrials flat, Financials -0.10%, Basic Materials -0.10%
|Japan: Nikkei 225||14732.61||-9.81||-0.07%|
|S&P BSE Sensex||19919.83||18.87||0.09%|
|UK: FTSE 100||6559.64||2.27||0.03%|
|Australia $ (AUD/USD)||0.9378||-0.0052|
|S. Korean Won (USD/KRW)||1075.39||0.09|
|Chinese Yuan (USD/CNY)||6.1219||0.0001|
|WSJ Dollar Index||72.96||0.09|
|Australia 10 Year||17/32||3.914|
|China 10 Year||2/32||4.080|
|India 10 Year||12/32||8.755|
|Japan 10 Year||8/32||0.676|
|German 10 Year||10/32||1.889|
|U.S. 10 Year||5/32||2.687|
-England’s notorious” White Widow”Terrorist Killed, Supposedly, as Kenyan Govt Tries to Cover- up Whatever is really going on..
So far at the scene were a SAS officer, CIA officers nearby, the Mossad/IDF and American shooters and British shooters. I saw some photos indicating a couple of the deaths might have been real and not staged as theater but even those were ‘border-line’ they could have been real or not. Clearly another CIA/MI6/Mossad fomented operation if not big hoax like Sandy Hook , or Boston.
Going into Day 4 and they still don’t have all the gun men. This is beyond absurd.
Others doubt the veracity of the narrative. They need better make up artists next time.
Asian markets outside of India are broadly lower tonight following American markets down.
Shanghai markets are down .9 % on liquidity concerns: major banks in China have recently raised their term deposit rates to attract loans; five major banks reported raising mortgage rates; PBOC was forced to inject liquidity to stem SHIBOR’s rise. Separately the real estate sector remains white hot: Shanghai residential sales during the three-day Mid-Autumn Festival last week reached 93.3K sqm; 2nd highest 3-day volume since 2008. Former PBOC adviser / director of National Economic Research Institute Fan Gang expects China 2013 GDP will come in at 7.5% and the 2014 GDP at 8.0%.China Ministry of Industry and Information Technology (MIIT) said most of China’s small and medium-sized enterprises (SMEs) have seen profit growth slowing in 2013.China is likely to purchase billions of yuan of rare-earth minerals starting next month to bolster its strategic reserves, industry sources said. China will send experts “when asked” to help with the destruction of Syria’s chemical weapons, the Foreign Ministry said.
BOJ Dep Gov Iwata expressed confidence of meeting 2% inflation target.According to a Nikkei survey, 93.8% of corporate managers in Japan see the economy growing (vs 90.5% in June survey), and 41.1% expect it to be stronger going forward.
South Korea on Tuesday launched a new coast guard vessel to patrol around a pair of islets it controls in the Sea of Japan that are claimed by Japan.Japan’s Foreign Minister Fumio Kishida and his South Korean counterpart Yun Byung Se will meet Thursday afternoon in New York on the sidelines of the U.N. General Assembly, the Japanese Foreign Ministry said Tuesday.
South Korea govt interest payments to reach all time highs this year around KRW20.3T. South Korea Finance Ministry official Choi convened meeting with exporters today regarding the recent rise in KRW. North Korea may have increased nuclear production capacity.
(VN) Vietnam Sept Consumer Price Index (CPI) Y/Y: 6.3% v 6.7%e
(CO) Colombia July Trade Balance: -$221M v +$119Me; Imports CIF: $5.1B v $4.3B prior
(CN) Daily Shibor fixings: 1-week: 4.4400% v 4.2320% prior (4th consecutive rise, highest since July 31st)
(CN) China PBOC injects CNY88B in 6-day reverse repos (largest one-day injection since Feb)
GLD: SPDR Gold Trust ETF daily holdings fall by 0.6 tonnes to 909.6 tonnes (lowest level since Aug 8th)
|Japan: Nikkei 225||14700.06||-42.36||-0.29%|
|S&P BSE Sensex||19957.87||56.91||0.29%|
|UK: FTSE 100||6557.37||-39.06||-0.59%|
|Australia $ (AUD/USD)||0.9415||-0.0016|
|S. Korean Won (USD/KRW)||1074.61||-0.69|
|Chinese Yuan (USD/CNY)||6.1189||-0.0029|
|WSJ Dollar Index||72.88||0.01|
|Australia 10 Year||17/32||3.915|
|China 10 Year||0/32||4.090|
|India 10 Year||0/32||8.819|
|Japan 10 Year||4/32||0.687|
|German 10 Year||0/32||1.924|
|U.S. 10 Year||2/32||2.698|
(US/EU/UK) U.S. regulators are suing J.P. Morgan Chase & Co, Barclays PLC - , Credit Suisse Group AG and 10 other international banks over their alleged role in manipulating the London interbank offered rate, Bloomberg News reported late Monday. The National Credit Union Administration sued the banks at a federal court in Kansas, the report said, but added it couldn’t immediately confirm the filing. The regulator accuses the banks of giving false information for the British Bankers’ Association’s daily survey used to set the Libor.
(US)FEDs Fisher highly critical of the no-taper decision and Yellen’s accommodative bias.
RHT: Reports Q2 $0.35 v $0.33e, R$374M v $372Me; guides Q3 $0.34-0.35 v $0.34e, R$381-384M v $392Me; -8.1% afterhours
CBST: To enter S&P Midcap 400 index, replacing SFD; +0.6% afterhours
F.IT: Chrysler files for $100M IPO
GWAY: To be acquired by Vitera Healthcare Solutions at $20.35/shr; +17.9% afterhours
FB: Facebook and Twitter service may be permitted in the Shanghai Free Trade Zone – US financial press