Bored Markets Looks To ECB Announcement For Some Excitement
The main macro event today will be the interest rate announcement by the ECB due out at 7:45 am (with the Bank of England reporting earlier on its rate and QE plan, both of which remained unchanged as...
View ArticleFrontrunning: January 10
Obama Picking Lew for Treasury Fuels Fight on Budget (BBG)Deutsche Bank Bank Made Huge Bet, and Profit, on Libor (WSJ)Spain Beats Maximum Target in First 2013 Debt Sale (BBG) - In other news, the...
View ArticleECB Keeps Rates Unchanged
No change from the ECB as expected, and despite a hint by Draghi last time that the governing council may cut rates, it did not. The boredom continues until 8:30 am Eastern when Draghi takes the podium...
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Greek Unemployment Soars To New Record, 56.6% Of 15-24 Year Olds Without Job
Judging by ongoing momentum moves in various European stock and bond market indicators, one could be left with the impression that something in the continent is actually improving. And while hope of...
View ArticleMario Draghi Press Conference Webcast
Last time around, Draghi hinted at a fresh round of rate cuts. Nothing happened. In today's press conference, he will likely hint at it again, and nothing will happen once more: for now the ongoing...
View ArticleInitial Claims Miss Fourth Week In A Row; Prior Week Revised Lower
Initial claims came, saw and missed for the 4th week in a row, printing at 371K, on expectations of a decline from 372K to 365K. As happens at the end of every year when employers turn on the pink...
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A Glimpse At Deutsche's Riskless EUR68 Million DV01 Libor "Bet"
At the height of the financial crisis in 2008, Deutsche Bank made some extraordinarily large bets. As the WSJ reports, documents uncovered from the Libor rate manipulation investigation show huge...
View ArticleSo Which Is It: iPhone 5 Now Blamed For Q4 GDP Drop
It was only a month ago when JPM's Michael Feroli humorously predicted that Q4 GDP would be boosted by 0.5% due iPhone 5 sales, a comment which even the most clueless economists saw right through, and...
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Chinese Military On "High Alert" After It Scrambles Fighter Jets To "Counter"...
The one thing that most seem to forget in the epic 30 year old story (which has a very sad ending) that is the Japanese floundering economy, is that while the new Abe government may and will likely try...
View ArticleInvestors Are Missing the Single Most Critical Fact About China
The investment world is convinced that China is about to engage in another massive round of stimulus. After all, this is what China did in 2008 when its economy slowed, so surely this is what they’ll...
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US Q4 GDP: From 2.5% To Sub 1% in Under Six Months
The previously noted surge in the US trade deficit may or may not be due to the iPhone (which either leads to a rise or fall in GDP, depending on which "strategist" is goalseeking their excel model to...
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BaNZai7 and THe LiMeRiCK KiNG UNLoaD A CaVaLCaDe oF CRaP!
. Krugman's displaying his coinIt's helping to highlight his groinThis Fruit of the LoomIs the Father of DoomSpawn of the Keynesian loinThe Limerick King ..The newest of Barry's inflatorsYoung Jack...
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Blame It On The Flu
Economic weakness in November was blamed on Hurricane Sandy. Economic weakness in December was blamed on the Fiscal Cliff. Now, we know what economic weakness in January will be blamed on: the flu....
View ArticleGuest Post: Insights Into Cultural Shifts From A Visit To A Hardware Store
Submitted by Pete Kofod of Casey ResearchInsights Into Cultural Shifts From A Visit To A Hardware Store"So this is what it looks like when a society is starting to collapse," the man standing behind...
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A New Sheriff (Make That Business Model) Is Coming to Town For US Wireless...
This is one of those pieces where, after reading it you say "Damn, why didn't I think of that!".. By demonstrating how Google is transforming the telecomm landscape, I may actually save up to $5,700...
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FleeceBook: Meet JP Morgan's Matt Zames
Previously, in our first two editions of FleeceBook, we focused on "public servants" working for either the Bank of International Settlements, or the Bank of England (doing all they can to generate...
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New York's Other Epidemic
The flu will come and go, but another, far more troubling epidemic appears to have gripped New York: one which, in a post Sandy Hook world, probably needs as much discussion as tragic mass murders...
View ArticleGuest Post: Almost Half Of All Food Produced Is Thrown Away
Submitted by Charles Kennedy of OilPrice.comAlmost Half Of All Food Produced Is Thrown AwayBetween 30 and 50 percent of all food produced globally, equivalent to two billion tons, is thrown away each...
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So You Want To Retire? Five Disturbing Statistics About Retirement: An...
To all Americans in their twenties, thirties, forties, or even fifties, naively looking forward to their retirement, we have two words: "good luck."One look at the flow chart below and we can't help...
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White House Petition To Publicly Assay And Validate The US Treasury's 8,100...
In the past few weeks there has been a veritable explosion of White House petitions ranging from the bizarre to the surreal to the outright absurd, including such demands as Texas (and other southern...
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