-Yellen’s Dovish pre-release remarks spark rally afterhours and overnight
Pre 2008 Crash Positions!!
-Japan 3Q GDP sinks by half!!
-CSCO cites NSA revulsion on sales warning, still tanks 10+ after hours
-Obamacare first month enrollment only 106k! Only 27k on Fed exchanges
-Secret Service involved in another Whore-gate Scandal on White House Doorsteps
-European ’recovery’ story badly stumbles as bond markets rigged to prop markets up on lousy preliminary GDP and trade reports out of Europe
-Walmart Warns, Revenue Miss, AMZN-WMT Holiday Price Wars
-Technology giants hammered on CSCO warning overnight. Trips circuit breaker in morning trading on 12 % plunge.
-Anglo-Zionist Military/War firm Lockheed to lay off 4000 Americans as it opens big office in Israel and offshores USA jobs with USA taxpayer dollars.
-WGC forecasts record 2013 1000 ton demand for China, cuts India forecast by 100 tones to 900 tons.
-UK retail sales go negative in August, France back into Recession, Italian Recession stretches on. German 3Q GDP q/q (prelimin), .3 %.
-Obama to ‘fix’ Obamacare (for one year only), to allow people to retain plans
-FED considering lower employment threshold to 5.5 to 6.0 and lengthening QE/low interest time, might surprise with taper early as rates are not vol and stable-WSJ, JH.
-Ireland decides to exit its EU/IMF bailout program without any precautionary credit line
-Hollande approval drops to 15 % in France
-Dueling WH, Demoncrat and Ratpublicans ‘fix Obama’ care plans emerge
-My take on the morrow, is we will get some pretty decent profit taking for the weekend in Asia, Europe and the USA. They will try and smash gold down again on Friday. We are pretty close to where I wanted to start riding shorts naked and averaging up into the big correction as the Funds lock profits for the Holidays. Short sellers buy high and sell (cover) low. New highs are always interesting. I plan on extracting short selling profits tomorrow if they come as expected then shorting into the final full week.
The Senate Banking Committee proved itself feckless anti-American dicks today and served Yellen up one softball question after the next. The groveling before her was even worse than before Chairman Bernanke at his initial hearings if you recall watching that hearing, which seems like only yesterday to me. She’s annointed, although the 2nd choice of London to Larry Summers, whose swinging back into action politically for the IMF/WB slots or a shot at ‘redemption’ in 2016 under Hillary at the UST again. Don’t give this Zionist troll Yellen any slack as a trader because she looks like grandma. Stalin looked like Grandpa as he murdered his millions in cold blood. Had she said anything about steering this QE money to small business and towards actual job growth inducing monetary action , she might have been worthy of a soupcon of goodwill, but she merely defended the status quo of monetary policy. Everyone knows the big banksters are not loaning that money out in the USA, and everyone knows a lot is going to the EU banksters who are also not loaning the money out. At least Larry Summers admitted this and said he would bypass the big banks and get the money into main street banks and small and medium businesses. That slip might have been what ultimately cost Larry London’s trust and they forced Obama to dump him for Yellen. Blood only gets you so far. The Rothschilds have had to killed or are trying to kill some of their kin. A Rothschilds in hiding used to read this blog. Maybe he still does, unless they caught up to him and had him murdered. Poor guy. What a bummer to find out you’re a Rothschilds bastard child. Maybe he just killed himself.
I turned the hearings off after she panned the gold questions and gave equity prices the two thumbs up to look for the top to short into, which I found. While not the brains of the gold, commodity, currency markets, and UST automated trading algorithms put in place under Summers/Rubin in the Clinton Admin, while at the SF FED her husband was the brains along with Dr. Bob Perry her predecessor, including the gold rig and pricing algorithms. Dec. gold finished up $17.90, or 1.4%, ends at $1,286.30/oz, for its first gain in six sessions, but recall it was whacked hard by the London cartel who said they would hold gold in check through her hearings last week and were good to their word. The goal is to keep gold below 1300 through option expiration and to pour more money into GS/HSBC/Barclays/Citi/JPM/DB’ s coffers.
The FED had WSJ shill, and probable Crypto Jew JH out running interference for her. The WSJ’s Hilsenrath published a piece asserting that the FOMC is closer to lowering its unemployment threshold to 5.5% or 6.0% from 6.5% presently, in its quest to keep interest rates low even as it rolls back QE, and said rate vol was low enough and rates stable enough to in theory start tapering sooner rather than later, muddying the waters yet again. Muddy waters on QE is what the FED wants to rig the bond and commodity and currency markets.
Its certainly not clear if the Republicans have any strategy to pass Yellen on, to get the FED audited independently on a regular basis. Rand Paul was silent today as was Ted Cruz. Look for a more lively debate when this goes to the floor of the Senate and maybe some more hardball questions.
Equity markets made a new closing high yesterday and look sure to, today. I shorted into that, but dumped by longs too early. I shorted WMT in the premarkets only to get stuffed despite their big miss, and got no downward mo in CSCO on the short side as the Circuit breaker was tripped. The PPT was very active today to prop markets up for Yellen but still not as effective as the ESM/ECB. I’m sure Regling and Frankel know nothing about how to rig the markets and it sure looks like the ESM/ECB trading is outsourced directly to DB. The German mailed fist was all over that today. The USTs’ PPT was like a boy with fingers in the dyke as CSCO and WMT and others blew up today on bad earnings reports. I was praying for FB to hit 50 so I could start a big short, it got close enough to put some more on shorts at near 49.5 . I unloaded my TSLA early and brought back the 134+ point, on a suspicious industrial accident yesterday at their Fremont factory. All it takes is one MI6/Mossad payee to sabotage a firm. You’re a naif or an idiot if you think the English crown would not sabotage TSLA for threatening its car/oil monopolies. What a beautiful factory. How the Germans and Eurotrash would like to get in and steal it all. WRT to the short selling strategy I plan on mainly leaving my shorts exposed and selling hard at SP , 1800 and DOW 16000. There is one more week before the Thanksgiving week. Until then, I’m spread trading a bit.
CSCO Executives warned that this revenue downturn is different from the slide seen in early 2009, citing softness in telecom demand in emerging markets. Additionally, Cisco said this demand slowdown will be felt across the industry. CSCO is down 12+ % and HPQ 5+, IBM is down near 1 %. The market did not buy CSCOs NSA backlash line.
WMT USA SS numbers were cleverly hidden from view by the MSM, but showed negative growth, really remarkable considering 5-10 % retail inflation levels in the USA. Only the promise to not lose MKT share to AMZN and slash prices prevented a loss, and Kohls was the big loser down 9 %, as WMT (+.4 %) got pulled up by futures indices manipulation by the PPT and its proxies. AMZN bulled up 3 % plus. WMT is on the run.
Viacom had solid Q4 results , however on the conference call, Viacom offered Q1 ad revenue guidance that is being perceived as soft, sending VIA down to -1% or so on the session. Executives also said they expect significant improvement in full-year ad sales growth in FY14.
The September US trade deficit widened more than expected in September as imports rose to their highest level in almost a year. The trade gap increased 8.0% to $41.8 billion, the largest since May.
Obama has a plan to fix Obamacare for one year only, hoping to pacify democrat leaning voters. Demoncrat leader Nancy P. Lousy says she has her own plan. The Rats have a plan.
|E-mini S&P 500||1786.25||7.50||0.42%|
|U.S. 10 Year||1/32||2.718|
|German 10 Year||11/32||1.704|
|Japan 10 Year||2/32||0.600|
-BBN’s take on the hearings today
-Some European Notes and final comments on Europe
The main note today was the emerging coalition in Germany said no EU bond market and pooling of debt, thwarting Rothschilds messengers George Soros and Alan Greenspan whom have been shooting their mouths off in the EU demanding a pooled EU federal debt market like the UST market. Its not clear where the money is going to come from to bailout banks that fail the stress tests. Right now the results looked to be so rigged, no one may fail as there may be no money there. Look for another LTRO shortly thereafter if some cant pass the lowered bar. Not a peep out of Europe that I could find on the delayed German High court ruling on OMTs. I checked the Spanish press, and no stories on the economic falsification and the Eurostats audit.
Ireland decides to exit its EU/IMF bailout program without any precautionary credit line as would be expected with its trade balance, low tax rates, and job growth. Ireland got nothing from the EU for bailing out the English money center banks that took down Anglo-Irish. Really the Irish pols are just London puppets. The Irish diaspora, merely increased probably design so England could hold onto Northern Ireland. These English are such , evil bastards, you can’t imagine how far thinking and evil they are unless you’ve worked with the Oxbridge crowd. Lots of Anglosaxons were buying up Ireland during the crash, from Cal Thomas to probably Mark Carney’s wife. Carney has Irish and Canadian citizenship and no doubt UK citizenship is in the works, and probably USA too at some point.
Eurobanksters continue to push for EU bank slush fund, given inability to tap ESM directly. Draft ECOFIN statement: will have funds, plans in place to help banks that need more capital after stress tests next year (yeah from where?).ECB Executive Board member Asmussen told Neuer Osnabrücker Zeitung that a combined eurozone bank resolution authority with a centraliZed resolution fund is needed, adding that plans for a ” loose network of resolution authorities is not sufficient, because it’s just not fast enough and would not necessarily decide in the pan-European interest”. ECB’s Mersch said Financing for small and medium-sized companies is key for the economic recovery, SME access to financing is difficult presently; Need to reorient ECB rules on securitization exposure, promote other forms of non-bank financing (EU press). ECB’s Linde (Spain): Most indications point to a slow recovery for the EMU and for Spain. ECB’s Asmussen said again in the media the German minimum wage debate should be depoliticized (German press, 3 or 4 time he has said this).
Germans- get out of Europe clause for the deadbeats and Zogged coming up. Following another round of Grand Coalition talks in Berlin yesterday, Der Spiegel reports on a document put forward by Chancellor Merkel’s Bavarian sister party, the CSU, which states that it is “committed to ensuring that Member States, that are not able to meeting the stability criteria of the Maastricht Treaty, have the option to temporarily leave the euro area.” Meanwhile, on European policy, the CDU/CSU and SPD have agreed that there will be no future pooling of sovereign debt or a transfer union in the eurozone per various German newspapers and media reports.
After concluding an alliance with French National Front leader Marine Le Pen, Dutch nationalist Geert Wilders said, “We want to decide how we control our borders, our money, our economy, our currency.” Le Pen added, “Our old European nations are forced to ask Brussels for authorization in all circumstances, [they are] forced to submit their budget to the headmistress.” The Telegraph reports that UKIP troublemaker, and EU gadfly , and Crown stooge, Nigel Farage has refused an invitation to join the alliance. Every Englishman is for sale, Patriots were killed off 30 years ago or more or driven out.
According to a new YouGov poll, only 15% of French have “a favorable opinion” of President François Hollande – down from 21% in October. Separately, the OECD has urged France to take action to improve its competitiveness, noting, among other things, that ‘product market regulation is stricter than the average in advanced economies, particularly in network industries and in the retail sector; competition restrictions also weigh on activity in the area of services to business.’
-FED shill JH on what Yellen really meant to say today
-Greedy, evil, violent Cops bankrupting CA, one state at a time
CA badly needs pension reforms. Cops, teacher, firefighters need to pay more, and much more of their retirement out of their lavish 100k-200k year salaries.
DESERT HOT SPRINGS, Calif. – A resort town in California warned on Tuesday that it will run out of money by March due to burdensome salary and pension costs and could join other U.S. cities that have recently filed for bankruptcy protection. A bankruptcy filing by Desert Hot Springs, a city of 26,000 about 110 miles east of Los Angeles, would make it the third California city along with San Bernardino and Stockton to seek court protection from creditors. San Bernardino and Detroit – the biggest U.S. city to seek Chapter 9 protection – are likely to set precedent on whether retirees or Wall Street bondholders suffer the most when a city goes broke. The problems in Desert Hot Springs came to light last week when a new finance director reviewed the city’s records and discovered a $3 million shortfall in its budget of $13.5 million. Amy Aguer, the interim director of finance, did not have details on how the shortfall occurred but said it was the result of higher-than-expected pension and salary costs, especially in the police department, and overly optimistic estimates of revenue. ”It’s obvious we can’t continue with salaries and pensions that are in the stratosphere, no matter how much love there is for our police department,” said Russell Betts, a council member. Desert Hot Springs, which is near Palm Springs, filed for bankruptcy in 2001 after losing a multimillion dollar lawsuit and still servicing $9.7 million of bond debt issued to fund its exit from Chapter 9 bankruptcy. In a report issued last week, Aguer said bankruptcy was a real option under consideration, although on Tuesday she expressed hope that the city could avoid that fate this fiscal year. Aguer said nearly 70 percent of the city’s budget was consumed by police costs, most of which were spent on salaries and pension payments to the California Public Employees’ Retirement System, or Calpers. The fate of other cities struggling with pension costs – including Desert Hot Springs – will add to the pressure for pension reform, said Karol Denniston, a bankruptcy attorney in San Francisco. ”What is happening in Desert Hot Springs, and San Bernardino, are not going to be highly unusual events,” Denniston said. “Calpers keeps increasing costs and many of these cities have cut costs down to where there is nothing else left to cut.” An outside consultant’s report earlier this year warned Desert Hot Springs that its pension costs were dangerously high. Detroit, in Michigan, and Stockton and San Bernardino in California, have all struggled to meet their rising pension obligations. Managers in Detroit are seeking a judge’s permission to slash pension benefits. Illinois has a $100 billion unfunded pension liability that has resulted in credit downgrades that have left the state with the lowest ratings among U.S. states. Although Stockton is on the verge of exiting bankruptcy without cutting payments to Calpers, a newly elected cadre of officials in San Bernardino say they are keen to confront Calpers over rising costs. Calpers is San Bernardino’s biggest creditor. Calpers is America’s biggest public pension fund, with assets of $277 billion. It has argued strenuously in court that pension payments cannot be touched, even in a bankruptcy.
-Insurance Companies (Banksters) say they run health Care
Health insurers said Thursday that President Obama’s proposed change in the Affordable Care Act could “destabilize” the market and result in higher premiums. The trade group America’s Health Insurance Plans released a statement from Chief Executive Karen Ignani, who said, “Premiums have already been set for next year based on an assumption of when consumers will be transitioning to the new marketplace.” Obama offered to allow 2013 policies to remain in effect through 2014, under increasing criticism over his vow to let consumers keep their policies if they like them. MW
-US econometric Release Summary
The NSA initial jobless claims was 357k for the week. Still a miss when SA by the DOL /BLS crooks. The prior week were revised to show 5,000 more applications received than previously reported. The four-week moving average for new claims dropped 5,750 to 344,000. This report certainly cast a big shadow on last weeks NFP report.
The U.S. trade deficit widened in September as imports rose to their highest level in almost a year and exports fell for a third consecutive month, suggesting the third-quarter growth estimate will probably be lowered.The trade gap increased 8.0 percent to $41.8 billion, the largest since May, the Commerce Department said. That compared to economists’ expectations for a $39.0 billion shortfall.When adjusted for inflation, the deficit on the trade balance widened to $50.4 billion, also the largest since May, from $47.4 billion the prior month.This measure goes into the calculation of GDP and the rise in the real trade deficit in September means the Feds will probably be forced to lower their third-quarter GDP estimate from the preliminary report which most analysts said was ‘weird’, or something that effect.
(US) Initial Jobless Claims: 339K v 330Ke; Continuing Claims: 2.874M v 2.87Me
(US) Q3 Preliminary Nonfarm Productivity: 1.9% v 2.2%e; Unit Labor Costs: -0.6% v -0.1%e
(US) Sept Trade Balance: -$41.8B v -$39.0Be
(US) Weekly EIA Natural Gas Inventories: +20 bcf v +18-22 bcf expected range
(US) DOE Crude: +2.64M v +1Me; Gasoline: -840K v -1Me; Distillate: -480K v -1Me
(CA) Canada Sept New Housing Price Index M/M: 0.0% v 0.1%e; Y/Y: 1.6% v 1.7%e
(CA) Canada Sept Int’l Merchandise Trade: -C$0.4B v -C$1.0Be
|Japan: Nikkei 225||14876.41||309.25||2.12%|
|Stoxx Europe 600||322.43||2.61||0.82%|
|UK: FTSE 100||6666.13||36.13||0.54%|
|E-mini S&P 500||1785.75||7.00||0.39%|
|U.S. 10 Year||5/32||2.704|
|German 10 Year||11/32||1.704|
|Japan 10 Year||2/32||0.600|
-Europe Closing Prices and Economic Releases
I shorted the DAX near 9150 at the opening and shorted the close at the same price . No movement at all on the DAX futures tape, unlike the USA as bad data rolled in , in both Europe and the USA (CSCO, WMT, etc). France was a disaster. Unfortunately or fortunately depending on if you’re Eurotrash, these preliminary GDP reports are even far more worthless than USA GDP preliminary reports to tell you where the cheating went on. At least with the Preliminary USA GDP reports you can tell what the real growth probably was. With the Eurotrash GDP reporting people, that is simply not the case and probably by design. You have to trade the garbage data and preliminary reports headlines in Europe as that is all there is and the weasel words by the respective finance ministers. No professional investor would invest in mkts where the real data was so hidden, ex on the short side. Europe’s lack of transparency has always been a hindrance to its equity markets and bond markets. The very corrupt USA markets look like paragons of honest accounting and transparency compared to what rolls out of Europe. I for one am sick of European corruption and intrigue. It is far, far worse than in the USA, despite Europe’s boy Obama steering the country in the ‘European’ direction, aka British-Israel London direction.
Of note of course was the dismal and back in a recession mode for France and its horrid balance of trade report although the French finance minster refused to forecast a recession after the reports. Italy also failed to gain traction as the recession kept grinding on. The UK with all of Cameron’s chest beating , a near 10 % real inflation rate, had negative retail sales in October. The recovery is in David Cameron/Osbornes head and is simply fueled by hot money following into London into the real estate and finance markets, not the ‘real’ economy. Even Austria which makes more ‘real’ stuff than the Germans per capita could barely provide any faked growth. No doubt Germany is being held up by Asia/China/USA demand and the QE, much of which finds its way to European banks eventually. At some point no Europeans will be able to afford made in Switzerland, made in Austria and made in Germany but the Germans and corrupt English and the Chinese. VWs has priced itself out of the USA markets, Mercedes preys on the yuppies and their infatuation with their financial status both in the USA and China; they don’t sell any trucks in the USA, that is for sure. Normally when data is this far off expectations and faked markets go down or are at least volatile. It sure looked like someone ‘big ‘ was pounding on the VSTOXX indices last night (Stoxx Vol).
The question for the Eurotrash is what is the ESM/ECB/Eurostats not rigging in Europe?
(EU) Euro Zone Q3 Advance GDP Q/Q: 0.1% v 0.1%e; Y/Y: -0.4% v -0.3%e
(FR) France Q3 Preliminary GDP Q/Q: -0.1% v 0.0%e; Y/Y: 0.2% v 0.3%e
(DE) Germany Q3 Preliminary GDP Q/Q: 0.3% v 0.3%e; Y/Y: 1.1% v 1.0%e; GDP WDA Y/Y: 0.6% v 0.6%e
(IT) Italy Q3 Preliminary GDP Q/Q: -0.1% v -0.1%e (9th straight quarterly contraction); Y/Y: -1.9% v -1.9%e
(PL) Poland Q3 Preliminary GDP Q/Q: 0.6% v 0.8%e; Y/Y: 1.9% v 1.6%e
(NL) Netherlands Q3 Preliminary GDP Q/Q: 0.1% v 0.1%e; Y/Y: -0.6% v -0.9%e
(PT) Portugal Q3 Preliminary GDP Q/Q: 0.2% v 0.3%e; Y/Y: -1.0% v -1.0%e
(HU) Hungary Q3 Preliminary GDP Q/Q: 0.8% v 0.4%e; Y/Y: 1.7% v 0.7%e
(CZ) Czech Q3 Advance GDP Q/Q: -0.5% v +0.5%e; Y/Y: -1.6% v -0.5%e
(AT) Austria Q3 GDP Q/Q: 0.2% v 0.0% prior; Y/Y: 0.7% v 0.0% prior
(RO) Romania Q3 Advance GDP Q/Q: 1.6% v 1.2%e; Y/Y: 4.1% v 3.5%e
(CY) Cyprus Q3 Preliminary GDP Q/Q: -0.8% v -1.8% prior; Y/Y: -5.5% v -5.9% prior
(GR) Greece Q3 Advance GDP Y/Y: -3.0% v -3.7% prior
(FI) Finland Oct CPI M/M: 0.1% v 0.2%e; Y/Y: 1.2% v 1.2%e
(FI) Finland Sept Final Retail Sales Volume Y/Y: -1.2% v -1.6% prior
(FI) Finland Sept GDP Indicator WD : -0.3% v -0.5% prior
(FR) France Q3 Preliminary Wages Q/Q: 0.2% v 0.4% prior; Non-Farm Payrolls Q/Q: -0.1% v -0.1%e
(FR) France Oct CPI M/M: -0.1% v -0.1%e; Y/Y: 0.6% v 0.7%e; CPI Ex-Tobacco Index: 125.44 v 125.41e
(FR) France Oct CPI EU Harmonized M/M: -0.1% v -0.1%e; Y/Y: 0.7% v 0.7%e
(FR) France Sept Current Account: -€3.9B v €3.9B v .6B prior
(HU) Hungary Q3 Preliminary GDP Q/Q: 0.8% v 0.4%e; Y/Y: 1.7% v 0.7%e
(CH) Swiss Oct Producer & Import Prices M/M: -0.4% v -0.2%e; Y/Y: -0.3% v -0.2%e
(SE) Sweden Oct Unemployment Rate: 7.3% v 7.4%e; Unemployment Rate Seasonally Adj: 7.9% v 8.0%e
(ES) Spain Banks Sept ECB Net Borrowings: €234.8B v €241.1B prior
(UK) Oct Retail Sales Ex Auto MM: -0.6% v -0.1%e; Y/Y: 2.3% v 3.1%e
(UK) Oct Retail Sales incl Auto MM: -0.7% v 0.0%e; Y/Y: 1.8% v 3.1%e
(PT) Portugal Q3 Labour Costs Y/Y: -0.1 v +1.3% prior
(IE) Ireland Sept Trade Balance: €3.2B v €3.3B prior
(PL) Poland Oct M3 Money Supply M/M: 0.9% v 0.7%e
(PL) Poland Oct CPI M/M:0.2% v 0.3%e; Y/Y: % v 1.0%e
|UK: FTSE 100||6666.13||36.13||0.54%|
|France: CAC 40||4283.91||43.97||1.04%|
|Stoxx Europe 600||322.43||2.61||0.82%|
(EU) ECB €2M borrowed in overnight loan facility vs. €12.0M prior; €45.4B parked in deposit facility vs. €57.5B prior – Daily Eurosystem Liquidity Conditions
-Walmart Slash and Burn Price Promises holding stock up today as AMZN/Walmart go mano a mano for Holiday $
Earnings are keeping up with real inflation. Revenue is not when you look at SS. Its very ugly for WMT in the USA reflecting the poor economy and maybe the EBT cuts Congress made.
“A challenging global economy and negative currency exchange rate fluctuations impacted our sales growth in the third quarter,”
Doug McMillon, Walmart International president and CEO.
Big strike out on sales. Slash and burn to burn inventory and take AMZN on.
Wal-Mart StoresInc. WMT +0.05% said its third-quarter profit rose to $3.74 billion, or $1.14 a share, from $3.64 billion, or $1.08 a share, in the year-ago quarter. Total revenue rose 1.7% to $115.7 billion. Analysts polled by FactSet had expected earnings of $1.13 a share on revenue of $117.05 billion. The retailer said it expects fourth-quarter per-share earnings of between $1.50 to $1.60. Adjusting for the closure of about 50 stores in Brazil and China and the end of a franchise agreement with a retailer in India, Wal-Mart sees per-share earnings of $1.60 to $1.70 in the fourth quarter. Wal-Mart said it expects full-year per-share earnings of between $5.01 and $5.11, and adjusted earnings of $5.11 and $5.21. After its second-quarter earnings, the company said it expected full-year per-share earnings of $5.10 to $5.30.
|U.S. comparable store sales results|
The company reported U.S. comparable store sales based on its 13-week and 39-week retail calendar for the periods endedOct. 25, 2013 and Oct. 26, 2012 as follows:
|Without Fuel||With Fuel||Fuel Impact|
|13 Weeks Ended||13 Weeks Ended||13 Weeks Ended|
|Without Fuel||With Fuel||Fuel Impact|
|39 Weeks Ended||39 Weeks Ended||39 Weeks Ended|
-European Credit Market Summary
4% has to be a good short entry point on Italian and Spanish bonds. As the Greeks showed everyone, and as Spain is currently showing everyone, you can fake it, but ultimately with govt debt you never make it. What a massive prop job over night by the ESM/ECB. Fortunately there were no bond auctions I could find in Europe. Even the USA tape responded to Walmart and Cisco but not Europe, they are gold living in their own PPT induced bubble. Real economics has nothing to do with that clip joint. The natives of Germany are restless and want to make the pols come to the voters for more money. AfD, the party the ZGR endorsed is surging the polls as more Germans wake up that they are going to get taken to the cleaners by London/Paris and Brussels. Yellen’s hardly moved the UST markets in one direction or another which is ludicrous.
President of Germany’s IFO Institute Sinn is opposed to the ECB’s rate cut (FT editorial)
ECB published its Monthly Report along with the Survey of Professional Forecasters. SMEs stated that it became more difficult to get access to credit in the past six months with Italy, Netherlands and Belgium deterioration in bank loan availability accelerating. Germany was the only country where bank loan availability improved in the April to September period from the previous six months.
German Bundesbank presented its annual financial stability review. It noted that bank resilience had improved on year from an easing of tensions on international markets. It warned that low interest environment was placing further strain on German banks and would act on risks to financial stability
(IT) Italy Debt Chief Cannata: Not worried about large risk to EU bonds from FED tapering; investors should expect more action by the ECB in December; Italy could issue a new 10-year bond in 2014; Investor interest in 7-year bond is rising
(ES) Eurogroup approves Spain exit from the financial assistance program even after failing in 6 of 11 areas in the European Commission’s economic imbalance report
(UK) BOE’s Carney: Would be prepared to raise rates ahead of 2015 election if necessary; UK wages unlikely to grow in real terms until mid 2014 (press)
(UK) S&P(London): Pending confirmation of Fed Chairperson Yellen is a positive for the economy
(US) FED Chair nominee Yellen: Unemployment remains too high; Inflation running below 2% target and will continue to do so for some time – Senate testimony for Thursday confirmation hearings; Labor market and economy performing “far short” of potential; Fed has made significant progress, but has more work to do. EU press.
(US) FED’s Bernanke: Fed is ‘missing’ on its jobs, inflation mandate; Hopes sooner rather than later US unemployment rate will be back in 5-6% range; Fed will be able to normalize monetary policy once economy has been restored. EU press
(IE) Ireland decides to exit its EU/IMF bailout program without any precautionary credit line
|German 10 Year||10/32||1.709|
|France 10 Year||10/32||2.171|
|Italy 10 Year||15/32||4.061|
|Spain 10 Year||9/32||4.062|
|U.K. 10 Year||11/32||2.594|
|U.S. 10 Year||7/32||2.698|
(EU) ECB €2M borrowed in overnight loan facility vs. €12.0M prior; €45.4B parked in deposit facility vs. €57.5B prior – Daily Eurosystem Liquidity Conditions
-Commodity Markets News
World Gold Council (WGC) lowered India 2013 gold demand to 900 tons from 1,000 tons prior. Maintained China 2013 forecast of a record 1,000 ton.
IEA Monthly Report raised 2013 global oil demand growth to 1.05M bpd v 1.00M bpd prior but cut its 2014 forecast to 1.09M bpd v 1.12M bpd prior. Seasonal upswing in demand could put upwards pressure on oil prices in the near-term.
-Put on SP Shorts at 1790. The Magik number WS wants before locking in profits before Thanksgiving is 1800. After SP, 1800 I intend to protect my shorts far less.
-Shorting more Dow at 15880.
Yellen said traditional valuation methods wouldn’t suggest that stock prices are “bubble like.” She allowed that the equity risk premium is somewhat elevated. And she said there is no FED role to support stocks. (Tell that to JPM/GS/AIG)
(JP) Japan Fin Min Aso: Japan must always be ready to send signal to markets it can curb excessive, one-sided forex moves; Must send signal to market when yen becomes too strong or weak.
(JP) Japan investors bought net ¥357.1B in foreign bonds last week (5th straight week of net purchases) vs bought net ¥276.6B in prior week- (EU) ECB’s Praet (Belgium): Catalyst for the latest ECB rate cut was Oct inflation data
(CN) Moody’s exec Byrne: told by an unnamed Chinese govt official China may set new GDP target at 7.0% for 2014 (london rumor or lie).
(IN) India Oct Wholesale Prices (WPI) Y/Y: 7.0% v 7.0%e (eight month high)
|Japan: Nikkei 225||14876.41||309.25||2.12%|
|S&P BSE Sensex||20399.42||205.02||1.02%|
-Yellen says she has not seen a lot of models that successfully predict gold prices. Which of course infers she has seen models that have like the one her Husband won a Nobel prize for essentially.
Europe had a pretty poor set of data releases. Yet yields were hammered down in the periphery as there were no bond auctions, and markets propped up. I’ve been short the DAX from this level, 9150 before. After the crooked MM in the DAX ETF tried to squeeze me at the opening, I just shorted more. The DAX was completely impervious to all the bad news in Europe overnight. European markets like their data is even more faked than in the USA.
|UK: FTSE 100||6666.47||36.47||0.55%|
|France: CAC 40||4278.14||38.20||0.90%|
|Stoxx Europe 600||322.01||2.19||0.68%|
|Japan: Nikkei 225||14876.41||309.25||2.12%|
|German 10 Year||10/32||1.710|
|France 10 Year||10/32||2.172|
|Italy 10 Year||12/32||4.072|
|Spain 10 Year||8/32||4.063|
|U.K. 10 Year||11/32||2.597|
|U.S. 10 Year||5/32||2.705|
-Obama going to try and election year only fix for Democrats
President Obama is expected to allow insurers to keep the health-insurance plans that have been in effect this year to continue through 2014, reports said Thursday. Quoting unnamed Democratic officials, the Wall Street Journal and New York Times said Obama is scheduled to speak at 11:45 a.m. Eastern on the proposal, designed to help cut back on policy cancellations for consumers who want to keep their current health plans. The administration has been under fire for being unable to fulfill Obama’s promise to allow those who want to keep their plans to do so. Insurers have been canceling policies, saying they do not meet the basic coverage standards under the president’s health-care overhaul.
I guess he does not have to pass any changes to his law, he just makes it up as he goes.
-Just shorted more at 15850 on the DIA.
-Sometimes it takes an act of God to get connected to Iceland, or a lot of hard IT work. Yellen just started speaking and Obama comes on to announce a ’fix’ for Obamacare at 11:15. Trading was very choppy after the push higher got sold quick by myself and others. The CSCO outlook was truly horrid. CSCO is down 12%!! HP and IBM are getting sold hard to. I tried shorting CSCO at the markets open but its was down, and the circuit breaker got tripped. FB is being ramped, so I put on more of a shorts near 49.5. What a manipulated stock. I went to a couple of Walmart stores last night and talked to the clerks. Business was very slow and I live where the economy is nearly as upbeat as the parasites of WS.
Wal-Mart said its sales fell for a third straight quarter by one key measure and it lowered its full-year profit outlook, as the retail giant’s core customers grapple with high unemployment, economic uncertainty and hits to their paychecks.
That QE is only being dropped over the Anglo-Zionist sections of NYC(WS), London, Paris, and Washington DC. FED head Troll Yellen has just had the usual line of patter so far.
Lockheed Martin plans to cut its workforce by about 4,000 positions, saying it needs to lower costs in response to continued declines in U.S. government spending per the WSJ. But per the ZGR they just opened a massive office in Israel!!
-There’s a better world for our people out there…
… but it starts from within.
Fed chair nominee Yellen will face confirmation hearings in the Senate banking committee on Thursday. Her opening remarks released just after the US close were characteristically dovish, stating unemployment remains too high with inflation running below 2% target and will continue to do so for some time. the USA Dollar briefly sold off as the statement hit the wires, gold rallied and US equity futures were up about 5 handles, as worries that Yellen will try to strike a more moderate tone to generate consensus among the more hard-line inflation hawks appear to have dissipated. Traders had previously speculated the Fed may be entertaining the possibility of a December taper after the stronger than expected jobs figures. JPM was wrong again, or intentionally mislead sheep to the afterhours slaughter.
Midget Zionist Troll!!
Giving the ZGR the evil eye!!
Remind her to shave this morning, Dr. Akerlof, I don’t want to see this again!!
Shares of Cisco were down over 10% after hours, wrapping up what has been a fairly disappointing earnings season in the technology sector. EPS beat but the top line was shy of estimates, as Cisco also announced a 11% market cap share repurchase authorization. Guidance on the conference call was horrid, sending shares to its lows around $21.50. CSCO a known confederate and major supplier to the NSA/CIA and pentagon and govts around the world, averred the NSA scandal was in part responsible for their lowered guidance.
Japan preliminary Q3 GDP slowed to a 3-quarter low but beat estimates by a decimal at 0.5%. Exports contracted 0.6% and private consumption slowed to 0.1% from 0.6%, while private residential investment was much stronger at 2.7% v 0.4% prior.
In China, PBOC once again deferred its Thursday open market operations, leading some to suggest the central bank will only conduct its money market activity once a week. Short-term rates tightened, with overnight Shibor rising to 2-week highs.Drains net CNY15B this week v drained CNY5B last week; dealers said PBOC to drop Thursday OMO ; Daily Shibor fixings: O/N: 4.1880% v 3.3360% prior (2nd consecutive rise, highest since Oct 31st); 1-week: 4.1930% v 3.6350% prior (2nd consecutive rise, highest since Nov 4th).
BOK was on hold as expected at 2.5% for the 6th consecutive meeting. Gov Kim maintained 2.8% GDP target for 2013 and noted that negative domestic output gap would dissipate sometime in H2 of 2014.
Yellen’s statement put Asia in a party mood overnight.
(JP) JAPAN Q3 PRELIM GDP Q/Q: 0.5% (3-quarter low) V 0.4%E; NOMINAL GDP Q/Q: 0.4% V 0.4%E; GDP ANNUALIZED Q/Q: 1.9% V 1.7%E; GDP DEFLATOR Y/Y: -0.3% V -0.5%E
(JP) JAPAN SEPT FINAL INDUSTRIAL PRODUCTION M/M: 1.3% V 1.5% PRELIM; Y/Y: 5.1% V 5.4% PRELIM; CAPACITY UTILIZATION M/M: +1.2% V -2.1% PRELIM
(JP) Japan Sept Conference Board Leading Economic Index: 100.1, +1.2% v -0.1% prior
(JP) Japan investors bought net ¥357.1B in foreign bonds last week (5th straight week of net purchases) vs bought net ¥276.6B in prior week (5th straight week of net purchases); Foreign Investors bought net ¥273.1B in Japan stocks v bought net ¥247.9B in prior week
(NZ) NEW ZEALAND Q3 RETAIL SALES EX-INFLATION Q/Q: 0.3% V 0.9%E (1-year low)
(NZ) NEW ZEALAND OCT BUSINESS MANUFACTURING PMI: 55.7 V 54.2 PRIOR
(NZ) NEW ZEALAND NOV ANZ CONSUMER CONFIDENCE INDEX: 128.4 V 122.3 PRIOR; M/M: 5.0% V 2.9% PRIOR
(NZ) NEW ZEALAND OCT NON RESIDENT BOND HOLDINGS: 64.8% V 67.0% PRIOR
(KR) BANK OF KOREA (BOK) LEAVES 7-DAY REPO RATE UNCHANGED AT 2.50% (AS EXPECTED); SIXTH STRAIGHT PAUSE
(AU) AUSTRALIA NOV CONSUMER INFLATION EXPECTATION: 1.9% V 2.0% PRIOR
|Japan: Nikkei 225||14876.41||309.25||2.12%|
|S&P BSE Sensex||20543.03||348.63||1.73%|
|UK: FTSE 100||6630.00||-96.79||-1.44%|
|Australia 10 Year||16/32||4.212|
|China 10 Year||0/32||4.500|
|India 10 Year||1 7/32||8.906|
|Japan 10 Year||2/32||0.598|
|German 10 Year||0/32||1.743|
|U.S. 10 Year||-1/32||2.727|
I noticed despite the CSCO release afterhours futures started to move powerfully up so I went and purchased some long Dow/SP positions to offset the shorts I put back on near the end of the day. Turns out Yellen’s speech had released, which sparked a big rally in Asia. She affirmed her WS first strategy of pumping money into them with the obligatory, indirect, I will control gold statement. A lot of times you won’t find out the news moving markets for 30 minutes or however long the Feds give the banksters notice to jump the cue in front of you, so you have to go with the market action and not the news. I plan on buying the market price at the market open as well long, cover a bit at the market open then re-buy my shorts higher in the USA trading day.I plan on buying the DAX open.
(US) BA, Militant Machinist Union refuses to freeze Pension increase demands to secure 777X build.
(US) GLD: SPDR Gold Trust ETF daily holdings fall 2.7 tonnes to 865.7 tonnes (lowest since Feb 2009)
(US) API PETROLEUM INVENTORIES: CRUDE: +599K v +1Me (lowest build in 7 weeks); GASOLINE: -1.67M v -1Me; DISTILLATE: +605K v -1Me
CSCO: Reports Q1 $0.53 v $0.50e, R$12.09B v $12.3Be; board approves additional $15B buyback program (11% of market cap); Guides Q2 Rev -8 to -10% y/y v +4.1%e (implies R$10.9-11.1B v $12.6Be) – conf call; -10.3% afterhours
NTES: Reports Q3 $1.31 v $1.34e, R$410.8M v $386Me; -7.8% afterhours
GWR: Announces Sale of 5.98M Shares of Common Stock by Carlyle Investment Funds (11.6% of shares outstanding); -2.8% afterhours
WDC: Raises quarterly dividend by 20% to $0.30/shr from $0.25/shr
NTAP: Reports Q2 $0.66 v $0.63e, R$1.55B v $1.60Be; +1.0% afterhours
(US)Americans Kick JPM ‘s arse off Twitter
Probably no one from New England. Dont worry bankster trash!
(US)Yellens Testimony Tomorrow
Vice Chair Janet L. Yellen
Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C.
November 14, 2013
Chairman Johnson, Senator Crapo, and members of the Committee, thank you for this opportunity to appear before you today. It has been a privilege for me to serve the Federal Reserve at different times and in different roles over the past 36 years, and an honor to be nominated by the President to lead the Fed as Chair of the Board of Governors.
I approach this task with a clear understanding that the Congress has entrusted the Federal Reserve with great responsibilities. Its decisions affect the well-being of every American and the strength and prosperity of our nation. That prosperity depends most, of course, on the productiveness and enterprise of the American people, but the Federal Reserve plays a role too, promoting conditions that foster maximum employment, low and stable inflation, and a safe and sound financial system.
The past six years have been challenging for our nation and difficult for many Americans. We endured the worst financial crisis and deepest recession since the Great Depression. The effects were severe, but they could have been far worse. Working together, government leaders confronted these challenges and successfully contained the crisis. Under the wise and skillful leadership of Chairman Bernanke, the Fed helped stabilize the financial system, arrest the steep fall in the economy, and restart growth.
Today the economy is significantly stronger and continues to improve. The private sector has created 7.8 million jobs since the post-crisis low for employment in 2010. Housing, which was at the center of the crisis, seems to have turned a corner–construction, home prices, and sales are up significantly. The auto industry has made an impressive comeback, with domestic production and sales back to near their pre-crisis levels.
We have made good progress, but we have farther to go to regain the ground lost in the crisis and the recession. Unemployment is down from a peak of 10 percent, but at 7.3 percent in October, it is still too high, reflecting a labor market and economy performing far short of their potential. At the same time, inflation has been running below the Federal Reserve’s goal of 2 percent and is expected to continue to do so for some time.
For these reasons, the Federal Reserve is using its monetary policy tools to promote a more robust recovery. A strong recovery will ultimately enable the Fed to reduce its monetary accommodation and reliance on unconventional policy tools such as asset purchases. I believe that supporting the recovery today is the surest path to returning to a more normal approach to monetary policy.
In the past two decades, and especially under Chairman Bernanke, the Federal Reserve has provided more and clearer information about its goals. Like the Chairman, I strongly believe that monetary policy is most effective when the public understands what the Fed is trying to do and how it plans to do it. At the request of Chairman Bernanke, I led the effort to adopt a statement of the Federal Open Market Committee’s (FOMC) longer-run objectives, including a 2 percent goal for inflation. I believe this statement has sent a clear and powerful message about the FOMC’s commitment to its goals and has helped anchor the public’s expectations that inflation will remain low and stable in the future. In this and many other ways, the Federal Reserve has become a more open and transparent institution. I have strongly supported this commitment to openness and transparency, and will continue to do so if I am confirmed and serve as Chair.
The crisis revealed weaknesses in our financial system. I believe that financial institutions, the Federal Reserve, and our fellow regulators have made considerable progress in addressing those weaknesses. Banks are stronger today, regulatory gaps are being closed, and the financial system is more stable and more resilient. Safeguarding the United States in a global financial system requires higher standards both here and abroad, so the Federal Reserve and other regulators have worked with our counterparts around the globe to secure improved capital requirements and other reforms internationally. Today, banks hold more and higher-quality capital and liquid assets that leave them much better prepared to withstand financial turmoil. Large banks are now subject to annual “stress tests” designed to ensure that they will have enough capital to continue the vital role they play in the economy, even under highly adverse circumstances.
We have made progress in promoting a strong and stable financial system, but here, too, important work lies ahead. I am committed to using the Fed’s supervisory and regulatory role to reduce the threat of another financial crisis. I believe that capital and liquidity rules and strong supervision are important tools for addressing the problem of financial institutions that are regarded as “too big to fail.” In writing new rules, however, the Fed should continue to limit the regulatory burden for community banks and smaller institutions, taking into account their distinct role and contributions. Overall, the Federal Reserve has sharpened its focus on financial stability and is taking that goal into consideration when carrying out its responsibilities for monetary policy. I support these developments and pledge, if confirmed, to continue them.
Our country has come a long way since the dark days of the financial crisis, but we have farther to go. Likewise, I believe the Federal Reserve has made significant progress toward its goals but has more work to do.
Thank you for the opportunity to appear before you today. I would be happy to respond to your questions.
* Without CA, Americans starve to death
This is not lost on the evil Chuck Rothschilds, er Prince Charles and his team of geo-terrorists/engineers. How outrageous was it that Americans should send $6o Bln to these rich Jews and Anglosaxon in NJ/NY for Rain Storm Sandy, and CA will have to pay for their own rail system and water infrastructure and get no federal support for anything, despite sending so much wealth in taxes back to the New England/New Israel gang in NY , Boston and DC?
CA’s water is being drained by the illegal immigrant population so beloved by Washington DC. Where’s the federal money to build new dams for these people so they can be fed?
How about that ‘Big Dig of Boston’and many Boston welders making $300k a year in today’s money for decades? All paid for by the rest of us. What a great deal that was for New Englanders to stick the rest of us for the big dig. Lot of multimillionaire welders in Boston thank to the rest of the country.
CA should just cut the shipment of food off to the rest of the country until these parasites on the East Coast pay their fair share plus for their beloved illegal immigrant gardeners and house keepers and for the food and technology.
I’m sick of these scabs from New England. New England produces nothing but misery for the rest of the country and the world. Parasites of Wall Street, back stabbing politicos of Washington DC and Virginia, and the Boston WASP elites.
New England is bleeding the rest of the country dry from the Pentagon to the Potomac, to the dens of Manhattan to the John Kerrys of Boston. Washington DC, and NYC and Boston- Never have so few taken so much from so many for so long.
Its time to throw these New Englanders out office and the country, especially the east coast Anglosaxon -Jewish carpet baggers like Diane Fienstein, Pelosi, Boxer, Meg Whitman, Jerry Brown running the state into the ground and running a corrupt election system.
Never ever vote for an Anglosaxon or a Jew or anyone from the East Coast or New England or from Harvard, Oxford, Stanford, Cambridge or Yale, simply as they are not Americans but ‘globalists ‘ and tribalist antichrists for the most part. These people are vampires living off the hard work of the rest of the nation.
Americans work hard and in NYC and Washington DC they only work a few hours a week planning on how to loot the rest of us. Visit NYC or Washington DC and stand outside of some major employer or govt office and you will get run over at 5:00 PM. In CA, the rush hour is still going on at 9:00 a night as CA returns from a hard days work paying for you New England parasites and the lavish $25ok a year clerks that run Washington DC’s evil machine on the ground.
Shame on you Wall Street and Washington DC parasites and Pentagon parasites. Shame on you New Englanders. I frankly wish we could put all you back on the Mayflower and send you back to Prince Charles since you get the rest of the country involved in fighting his dope and oil wars, but then draft Californians more than anyone else in the nation to die in your wars.
What in the world does Washington DC do for, Arizona, Oregon, Washington, Ca, Idaho, New Mexico, Alaska, Montana, Colorado, North Dakota, South Dakota, Texas, but try and destroy us constantly with regulation and taxes and their geoengineering and war mongering .
Worthless evil New England people they ain’t my kin and they ain’t my countrymen anymore after 911. I’m sick of their wars and theft, their lies, their politicians and their Harvard/Yale media whores. New England declared war on the rest of the country on 911. Lets see how it ends, kin of the King!!
If you remain silent as the Romans told us you consent to this rape and pillage job the East Coast intermarried Anglosaxon and Jewish elites from Harvard and Yale and Cambridge and Harvard are accomplishing as they destroy CA and sell it to the Communist Chinese. Why are all these Chinacoms driving around with no spooks around video recording all our major infrastructure like they own CA? Yeah, where’s the FBI/CIA/NSA and the DHS on that!
These people are the damned from New England. I despise their evil. Only people who remain silent deserve more scorn.
*Senior Navy civilians, Lee Hall from Virginia among them, investigated in alleged scheme to defraud military for $1.6 million
*More Sex Crimes while on duty at the White House by Secret Service Pigs
What a bunch of creeps in Washington DC. The Secret Service reports into Jack Lew. What a gang he has. Creepiest spooks in the USA, the so called Secret Service or American SS as I prefer to think of the ‘stand down’ David Rockefeller Nazis. The SS for its part in murdering JFK and the cover up deserves not only a special place in hell, but the scorn of every right thinking and moral American that demands honest and moral cops, and not satanic pigs and, or moral degenerates. The SS used to pimp Clintons girlfriends for him. That is where these guys really went down hill. I wonder if Obama will do the Hitler thing and purge the straights and bring in his own queer SS officers? These people have no respect at all for the office of the POTUS or the American people. Maybe the Bull Dykes will do a better job!!!
*The Last Jew in Afghanistan
Great job Prince Charles!! First kill all the Christians, then drive the Jews to Israel or the USA. Thanks!! Must be a good year for you. My sources tell me Opium is going to hit 8,000 tonnes out of Afghanistan. Arrest Prince Charles and his family. Enough of Dope, Inc.
*’By Coincidence’ Queer Anglosaxon-Israel ‘Good Morning America’ couple
Sam Champion, some kind of sodomite weatherman and his Sephardic Boyfriend down in Rio. This did not make the USA edition of the Mail, I wonder why. Boycott LGBT ‘Good Morning America’. Its time American fought back at this LGBT deluge of sodomy and just boycotted these people. Send them back into the closet where they can keep their sins private and out of the eyes of the little Children. Shame on the Anglomasons and their butt buddies in the USA. What a pair of fairies. Sure Hebrew women and Anglosaxon women are nothing to write home about but at least they are women. What’s next your local weatherman and sheep on the cover of USA Today getting married in Rio. Beaked noses, asiatic eyes, sloped foreheads. check! Probably has a small amount of Norman blood but not enough to overcome the English generational masonic sodomite programming. A lot of these WASP were probably molested at Shriner or Masonic events if not at the local Hebrew day school.
* Anglosaxons celebrate their LGBT Culture and destroy America like Sodom of old!!
As long as they don’t have kids its the best thing for the nation. These Anglomasonic, generational satanic families have got to go.Evil!! I pulled LGBT wedding stories at random about five years ago, 80 % of the LGBTs were Anglosaxons and Jews, yet Anglosaxon and Jews are a small minority in the USA. Satanism was the founding ethos of England, and witchcraft and with that goes the sin of Homosexuality. Jewish culture became a homosexual culture at the foot of the Cross and later when their satanic leaders ‘blessed it in the Talmud. If you’re a European or European American or African American an see those donkey teeth. Run!!! The odds are its a vampire of the soul and your pocket book. No siree, I ‘ve been hip about the Donkey teeth crowd since 7 th grade!! These people only look European, they are Hebraics. Sure some are decent sincre, and God fearing Christian but the odds are against you. You can see the evil in this pair and spiritual darkness. Thank goodness they are not ruining any man’s life at least for now.
*Anglosaxon Satanist, Taylor Swift knows who has the power and money in this world. Traitor!!
Worth $100 million plus. The Crown pays its most ardent satanist well out of the pockets of the working people.
‘I knew you were trouble!’ Taylor Swift kicked off the Victoria’s Secret Fashion