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Thursday, March 28, 2024

Frontrunning: August 24

Courtesy of Tyler Durden

  • Deflation: the Neutron Bomb of Balance Sheets  (and why Bernanke will destroy the dollar before he allows it) (Barrons)
  • Captain Obvious headline of the day: Asia Slowdown to Have “Serious” on Affect Europe, Economy Chief Rehn Says (Bloomberg)
  • Kan Says Yen Move Undesirable; Union Urges G-7 Action (BusinessWeek)
  • BoE’s Weale Says Britain Faces Recession Risk (Reuters)
  • European Banks May Face More Frequent Stress Tests (Bloomberg)
  • Libor Volatility is Price of Disrupted Credit (FT)
  • We need more TBTFs around the world stat: Greek Banks Pressured to Merge as Economic Slump Hurts Profits (Reuters)
  • Housing Slide in U.S. Threatens to Drag Economy Into Recession (Bloomberg)
  • EU Ratings at Risk on Economy, Austerity – Moody’s (Reuters)
  • Fed’s Hoenig Says Largest Banks Still Benefit From Government Safety Net (Bloomberg)
  • Fed Split on Move to Bolster Sluggish Economy (WSJ)
  • The Yen’s Lesson for the Yuan (NYT)
  • Crash and burn –  Commentary: How bearish is the Hindenburg Omen? (Mark Hulbert)
  • Obama Misreads Message of ‘Live Free or Die’ (Amity Shlaes)
  • Is there a bubble in bond land?  (Alhambra)

European economic data – getting increasingly disappointing:

  • Euro-Zone Industrial New Orders SA for June -0.6% m/m 5.7% y/y. Previous 1.3% m/m7.6% y/y (Revised from 1.8% m/m8.4% y/y)
  • Germany GDP s.a. for Q2 2.2% in line with expectationConsensus 2.2% Previous 2.2%.
  • Germany GDP wda for Q2 3.7% in line with expectationConsensus 3.7% Previous 1.6%.
  • Germany GDP nsa for Q2 4.1% in line with expectationConsensus 4.1% Previous 1.7%.
  • Germany Private Consumption for Q2 0.6% higher than expectedConsensus 0.4% Previous -0.8% (Revised from -0.1%).
  • Germany Government Spending for Q2 0.4% lower than expectedConsensus 0.5% Previous 1.1% (Revised from 2.0%).
  • Germany Domestic Demand for Q2 1.4% lower than expectedConsensus 1.5% Previous 1.4% (Revised from 1.7%).
  • Germany Imports for Q2 7.0% lower than expectedConsensus 7.5% Previous 6.1% (Revised from 6.7%).
  • Germany Exports for Q2 8.2% higher than expectedConsensus 7.9% Previous 2.6% (Revised from 3.1%).
  • Germany Construction Investment for Q2 5.2% lower than expectedConsensus 7.3% Previous -3.8% (Revised from 1.2% ).
  • Germany Capital Investment for Q2 4.7% higher than expectedConsensus 3.8% Previous -1.6% (Revised from 1.2%).
  • Sweden Total Number of Employees for Q2 -0.6% Previous -1.5%.
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