MasterFeeds: FW: Frontrunning: December 7

Dec 7, 2010

Frontrunning: December 7

Submitted by Tyler Durden on 12/07/2010 07:58 -0500

Draconian Budget Set to Pass After Lowry Gives His Backing (Irish Times)
Euro Collapse 'Possible' Amid Deepening Divisions Over Bail-out (Telegraph)
China Outstrips Fed With Liquidity Risking 2011 Inflation Spike (Bloomberg)
Deal Struck on Tax Package (WSJ)
Dublin Woos MPs Ahead of Budget Vote (FT)
China Buys Most Korean Bonds in 6 Months as Won Falls (Bloomberg)
EU Rules Out Immediate Aid Boost, Banks on ECB to Fight Crisis (Bloomberg)
The theatrical farce continues: Obama Summons CEOs to White House for Talks Amid Change (Bloomberg)
U.S. Ends Citigroup Investment With $10.5 Billion Stake Sale (Bloomberg)
RBA Keeps Rate Unchanged, Sees Inflation Contained (Bloomberg)
China Hits Back at Criticism over North Korea (Reuters)
I Opt-out of California (New Geography)
Obamanomics: Only fat cats prosper (NYP)
Folding the Fed: Central bank isn't equipped to save the economy (Washington Times)

Economic Highlights

Norway Consumer Confidence for Q4 26.5-higher than expected. Consensus 23.6. Previous 22.7.
Switzerland Unemployment Rate 3.6%-in line with expectation. Consensus 3.6%. Previous 3.5%.
Australia Wholesale Price Index 0.8% m/m 7.7% y/y. Previous -0.2% m/m 7.0% y/y.
Denmark Industrial Production -4.8%m/m. Previous 2.4% m/m.
Denmark Industrial Orders 3.3% m/m.Previous -27.3% m/m.
Sweden Budget Balance SEK 13.7B. Previous -16.6B.
Norway Industrial Production 8.6% m/m -2.4% y/y. Previous 1.8% m/m -10.9% y/y.
Norway Industrial Production Manufacturing -0.3% m/m 4.0% y/y-lower than expected. Consensus 0.4% m/m 4.7% y/y. Previous 1.6% m/m 3.3% y/y.
UK Industrial Production -0.2% m/m 3.3% y/y-lower than expected. Consensus 0.3% m/m 3.9% y/y. Previous 0.4% m/m 3.8% y/y.
UK Manufacturing Production 0.6% m/m 5.8% y/y-higher than expected. Consensus 0.3% m/m 5.4% y/y. Previous 0.1% m/m 4.8% y/y.
Germany Manufacturing Orders 1.6% m/m 17.9% y/y-lower than expected. Consensus 1.9% m/m 18.6% y/y. Previous -4.0% m/m 14.0% y/y.
Irish parliament votes on 2011 budget.

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