Weekeend Readings

More on StevePerkinsGate: PVM taking a page from the oldest playbook in the world (FT) India joins China, Russia in questioning USD dominance (Bloomberg) Palin to resign as Alaska governor, will not seek reelection (WSJ) [not even worth discussing the Republican due diligence process] Ignoring prophetic predictors (Nader) Staffer at SEC had warned of Madoff [...]

Slow Afternoon News Roundup

Dan Loeb’s Third Point June P&L: 1.8%; 7.2% YTD (Third Point) Captain Morgan – Best use of $2.7 billion in TARP funding. Ever (Moneynews, h/t Cris) BOE’s Miles says helpful to include housing in inflation gauge [Amen] Unemployed finance guys in Buenos Aires search for sex, drugs, and their own souls (Playboy h/t Clusterstock) Boeing [...]

Daily Highlights: 6.29.09

Commodity rally may end as supply rises, speculators sell bets. Dollar up against euro, yen after China central banker says exchange policy ‘stable’. House passes Cap-and-Trade pollution measure, first to curb US emissions. International Energy Agency sees oil demand up 0.6 percent a year over ’08-’14 period. Japan auto production falls in May for 8th [...]

Daily Highlights: 6.25.09

Bernanke will face hostile questioning on BofA deal. Fed leaves bond-purchase program unchanged, says pace of contraction slows. Fed: Key interest rate will remain near zero “for an extended period.” Irish banks face $49 billion in losses. New-home sales unexpectedly fell 0.6% in May from the prior month. Bed Bath & Beyond’s qtr net up [...]

Daily Highlights: 6.23.09

China shares fall on worries about world economy but banks and steel gained. Euro edges higher against dollar as Federal Reserve to start 2-day meeting. Euro zone manufacturing improvement helps recession ease in June. House Democrats to open hearings on a sweeping health care bill. Japan may end $1.5 billion Venezuela loan on seizures. Japan [...]

Daily Highlights: 6.22.09

Asian stocks rose, led by automakers and financial companies, European Central Bank’s Ewald Nowotny said the bank is likely to keep interest rates steady. European stocks fell as the World Bank said the global recession will be deeper than it predicted in March Federal Reserve is considering creating a utility to replace the Wall Street [...]

Absolute Priority Saturday

Creditors’ rights at midnight. Absolute Priority Saturday on Radio Zero. Exercise absolute priority and get your slot now (supplies are limited). Live from 12:00am on. Priority claims, pre-petition requests, 363 sale objections, etc: AIM: marla@zerohedge.com http://s4.viastreaming.net:7760/listen.pls Read more….

Daily Highlights: 6.16.09

Asian markets fall as pessimism about global economy spreads. BOJ’s Shirakawa says that corporate financing has improved but the bank must monitor market developments before to extend measures to ease credit strains. Geithner: Risks of deeper recession in US are ‘dramatically’ lower. New-car registrations in Europe dipped to 1.27 million vehicles in May. Nikkei 225 [...]

Sunday Readings

Must read: Algorithmic programs that will be eliminated (SMB) Airbus could cope with 1,000 order cancellations [consider yourself warned] (Bloomberg) Real housewive of OC saves Coto homo from foreclosure, thanks Zachary Scoggins and Art Moore of Washington Mutual [foreclosures for the retard class do not apply with JPM] (OC Register hat tip Ian) Contours of [...]

Daily Highlights: 6.11.09

Asian stocks rise as Chinese investment boosts growth optimism. Australia’s jobless rate rises to 7-year high of 5.7 percent as companies cut workers. Bank of Korea keeps key interest rate at record low 2 percent for 4th straight month. China’s May exports and imports plunge 26.4 but analysts say economy improving. European stocks up ahead [...]

Daily Highlights: 6.9.09

AIG is raising about $1.14 billion in the offering of the reinsurer’s stock. Barclays in talks to sale BGI, with Blackrock for $12 billion. BlackRock said to offer $13B cash, stock for Barclays Global Unit. Boston Newspaper Guild turned down the Globe’s proposal in a 277-265 vote. High Court stymies quick sale of Chrysler. Callaway [...]

Overallotment: June 8

Must Read: Taibbi destroys WSJ’s Evan Newmark: “Time to enshrine Hank Paulson as national hero” WTF (Taibblog hat tip Ian) Repos and the shadow banking system: Gary Gorton explains the crisis (Falkenblog, to be read in conjunction with this) IMF tells Europe to come clean on bank losses (Telegraph) ‘Fierce Rally’ under way for leverage [...]

Daily Highlights: 6.8.09

Airlines may lose $9B in 2009, double previous forecast, IATA Says Airlines say wait for Airbus directive on A330 Ailysys Q4 loss widens to $113.8M on goodwill write-off. Revs down 20% at $155.5M. American International Group Inc. has disclosed deals to sell assets of $6.6B since bailout. Analogic Q2 earnings fall 66%; sees 2 more [...]

The Real Memo Out Of The Bureau Of Lies And Statistics

“We’re leveling off! We’re leveling off!”—so is the hope of TTT, Helicopter Ben, Larry the Wall Street Lackey and the rest of Team Obama. “This recession is leveling off!” No it’s not: The unemployment figures just released by the Bureau of Labor Statistics are totally cosmetic: We lost a whole lot more than 531,000 unemployed. [...]

Euro Struggles With 1.3000 Pound Holds 1.44000

Another rambling night of trade in the currency market as the EUR/USD struggled with the 1.3000 handle after staging a reversal in North American session yesterday. Better risk appetite and the growing political woes of the Obama administration helped fuel Tuesday’s rally, but the unit could not hold its gains as dour economic data and [...]

Canadian Dollar Holds Up Despite Dismal US Economic Data (Daily FX)

The Canadian dollar was one of the few currencies to finish marginally higher against the US Dollar through past week’s trade. Read more….

Canadian Dollar Holds Up Despite Dismal US Economic Data (Daily FX via Yahoo! Finance)

The Canadian dollar was one of the few currencies to finish marginally higher against the US Dollar through past week?s trade. A steady stream of bearish US and Canadian economic data would have normally been enough to sink the CAD, but the Loonie held firm even in the face of Crude Oil price declines. Read [...]

Australian Dollar Likely to Fall on Economic Data, Risk Aversion (Daily FX via Yahoo! Finance)

The Australian Dollar faces a triple threat next week as a heavy load of negative economic data and renewed flight from risky assets combine with bearish technical positioning to put downward pressure on the exchange rate. Read more….

US Dollar: 3 Big Threats

The US dollar continues to rise, but the rally is tempering. After sharp losses this past week, the Euro, Japanese Yen and Australian dollar are beginning to stabilize against the greenback. US equities have been in the red throughout the day, which is why most currencies remained negative despite sharp intraday reversals. Over the next [...]

Pound’s recent drop against Euro and Dollar heads for further weekly decline

Thursday was a generally calm day as traders appeared to become weary of hearing the constant barrage of bad new and economic data. Asia showed that it is very much a part of the global problem with South Korea announcing a 5.6% contraction, the Bank of Japan forecast 2 years of deflation and there were [...]

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