MasterFeeds: Frontrunning: November 18

Nov 18, 2010

Submitted by Tyler Durden on 11/18/2010 08:13 -0500

Fed Orders 2nd Round of Stress Tests (WSJ), translation: more capital raises for Bank of America, Wells Fargo and Citi.
Lenihan Says Ireland May Ask for Bank Package as Bailout Nears (Bloomberg)
One in 20 Irish Mortgages in Arrears (FT)
China Vows to Tame Inflation (Reuters)
Korea to Revive Tax on Foreigners' Bond Holdings to Slow Capital Inflows (Bloomberg)
IMF Says HK Currency Peg Boosting Property Prices (FT)
India Microcredit Faces Collapse From Defaults (NYT)
Vilsack: Food Costs Won't Surge (WSJ)
Failed Models and the Real Costs of QE2 (Economics21)
California Shrinks Planned Tax-Exempt Sale, Expands Taxable (Bond Buyer)
OECD Reduces Global Growth Outlook, Predicts Soft Spot in 2011 (Bloomberg)
OECD backs much-criticized Fed easing steps (Reuters)
Wolin: No Meaningful US Impact from Euro Zone Crisis (Reuters)
Bank of America and the middle-man hedge (Housing Wire)
QE2 could drive Asia 30% higher (City Wire)
Ally CEO of mortgage operations says foreclosure flaws "unacceptable" (Housing Wire)
GM IPO Increase: How They Turned It All Around (Steve Rattner)
CDS spreads can be volatile and prone to false positives (FT)
Sticking it to the unemployed (LA Times)

Economic Highlights:

Euro-Zone Current Account nsa for September -9.2B. Previous -10.6B.
ECB Euro-Zone Current Account SA for September -13.1B. Previous -6.9B.
Switzerland Trade Balance for October 2.10B - higher than expected. Consensus 1.40B. Previous 1.68B.
Switzerland Exports real SA for October 6.2% m/m. Previous -3.1% m/m.
Switzerland Imports real SA for October 1.9% m/m. Previous -4.0% m/m.
Switzerland Credit Suisse ZEW Survey (Expectations) for November -30.9. Previous -27.5.
Sweden Unemployment Rate for October 7.5% - lower than expected. Consensus 7.6%. Previous 7.8%.
UK Retail Sales Ex Auto Fuel forOctober 0.3% m/m 1.2% y/y - in line with expectations. Consensus 0.2% m/m 1.5% y/y. Previous -0.3% m/m 1.3% y/y.
UK Retail Sales w/Auto Fuel for October 0.5% m/m -0.1% y/y - in line with expectations. Consensus 0.4% m/m 0.0% y/y. Previous -0.5% m/m 0.0% y/y.
UK Public Finances (PSNCR) for October 2.4B - lower than expected. Consensus 6.0B. Previous 20.7B.
UK Public Sector Net Borrowing for October 9.8B - higher than expected. Consensus 8.9B. Previous 14.4B.UK PSNB ex
Interventions for October 10.3B - higher than expected. Consensus 9.6B. Previous 15.0B. UK CBI Trends Total
Ordersfor November -15 - higher than expected. Consensus -24. Previous -28.

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