Frontrunning: June 2
Courtesy of Tyler Durden
- Fed mouthpiece Hilsenrath speaks: No QE3 for now – Fed Holds Steady as Economy Slows (WSJ)
- Fed May Signal Balance Sheet Will Stay at Record (Bloomberg)
- Fed Owes U.S. Stakeholders Accounting on Loans as People’s Bank (Bloomberg)
- China will have to tackle local govt debt (Reuters)
- Biggest HFT firm in the world to sell HFT counter-measures: Getco Expands Client Business, Offers Algorithm to Funds (Bloomberg)
- Greece Is in Line For a New Loan (WSJ)
- E.coli outbreak in Europe caused by new toxic strain (Reuters)
- The Chanos thesis is delayed: Banking regulator plans to shift 2-3 trillion yuan ($300-$470 billion) in debt off the books of local governments (Shanghai Daily)
- Kan: Ready to Step Down After Finishing Quake Work (WSJ)
- Trichet calls for tougher euro rules (FT)
- Act of war? Google reveals Gmail hacking, says likely from China (Reuters)
- Greece goes further into junk territory (FT)
- Economy shadows Obama 2012 re-election hopes (Reuters)
- Cummings Seeks “Engagement Letters” Due Today Between Mortgage Banks and Private Consultants (4closurefraud)
- Why Fed Is Unlikely to Have Third Round of Easing (PIMCO)
Global highlights courtesy of Egan-Jones:
- Google Antitrust Probe by U.S. Could Take Years
- American Airlines Must Let Orbitz Use Its Flight Data on Site, Judge Says
- Asia Rising Attracts Hedge Funds From Algebris to Soros Betting on Revival
- Australian Retail Sales Rebound in April, Biggest Jump Since November 2009
- BOE’s Fisher Says He Would Consider Expanding Asset Purchases in Downturn
- Central Banks Says China’s Local-Government Debt Risk Needs ‘Attention’
- China Lending-Binge Hangover Looms in 2013
- Citigroup Said to Shut $400 Million Proprietary Fund as Ahmed Has New Role
- Fed May Signal Balance Sheet Will Stay at Record to Counter U.S. Slowdown
- Fed Owes U.S. Stakeholders Accounting on Loans as People’s Bank
- Fed’s Chief Counsel Says Faster Emergency-Loan Disclosure May Hurt Economy
- Ford Missing Quality Targets Puts Pressure on Mulally to Fix Mishaps: Cars
- GLOBAL MARKETS: European Stocks Sink; Economy Worries Weigh
- Greek Default Risk Raised by Moody’s as Bond Aid Readied
- Joy Global’s April net income rises from $120M to $162M.
- Moody’s Downgrade Puts Greece in Debt-Rating Hall of Shame Alongside Cuba
- Nokia warns of zero margins, Microsoft acquisition rumours escalate
- Papandreou Greek Highway Roadblock Hurts Ellaktor Shares: Freight Markets
- Spain Sells EU4 Billion of Bonds
- Trichet Calls for Single Euro Finance Ministry
- U.S. Economy: Factories, Employers Pull Back as Costs Climb
- Wien Buying in S&P 500 Decline Where Birinyi Sees Chance of 10% Correction
- World Oil Demand Needs Extra 1 Million Barrels a Day, OPEC Official Says
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