October 2011
4 October 2011 (Tuesday)
1. Goldman Sachs cuts global growth estimate; forecasts German & French recessions
2. SA Central Bank cautions on share trading
3. SA stocks decline led by Anglo, SAB Miller
4. SA rand weakens for a fourth day as minister warns of growth targets
5. Contraceptive injections double the risks of women contracting HIV, study shows
6. DEXIA joins BNP Paribas in writing off losses on Greece; 3 times more than envisaged
7. DEXIA tumbles as Board tell MARIANI to fix Banks “structural problems”
8. DUBAI shares fall for a 5thy day on EU debt crisis- Emaar , BFM tumble
9. UGANDA Central Bank boosts interest rate to 20% as inflation soars
10. Saudi Arabia may tap reserves to keep pace with spending plans- Arab credit
11. TUSK failing to buoy investors as stocks drop- polish credit
12. LIBYA targets 500 000 barrels of oil , as 2nd largest refinery starts up
13. European Banks & airlines the biggest losers
14. LUXEMBOURG- Jean Claude Juncker ( PM)- Finance Ministers discuss European crisis- “beefing up EU rescue fund
15. CZECH risk on bonds
16. Debt sales drop to 2008 levels- Australian credit
17. Swiss brides buy ‘wedding cover’ as economy slows
18. IATA: Airlines mired in Crisis- facing shrinking margins- world growth to slow – stocks plunge
19. TAIWAN markets are up, the only Nation in a ‘sea of red’
20. Silver Lake said to discuss Yahoo deal with Alibaba
21. Oral sex may cause more throat cancer than smoking in men
22. HSBC said to be considering selling regional non-life units separately
23. Apple to unveil latest IPHONE
24. Baroin, Reynders say France, Belgium to guarantee Dexia loans. States in touch with Central banks
25. BMW dangles 19% discount in China as market cools
26. SA GORDHAM says ‘February’ forecasts far too ambitious
27. Debt sales drop to 2008 levels on market turmoil- Australian Credit
28. Deutsche bank scraps 2011 target of $13,2 billion profit amid turmoil in markets
29. “ Son of Lehman” concerns market tumble
30. Thomas Brown- Bloomberg Contributing Editor- Primary Bank Analyst- Risk of Morgan Stanley going under “minimal “and do not seem to have a funding problem. The bank stocks today are an incredible opportunity for investors. The Big 4 - BOFA, JP Morgan, Morgan Stanley, & Goldman Sachs
31. Bond sales are at an 8 year low as OIL trims demand- Russia credit
32. Bernanke Testifies on Capitol Hill with the mood as sour as it can be with, “The US , the best in a glue factory”. Significant downside risks and policy makers will want to know “How significant?”
33. Obama – New Consumer protection Bureau- How do we present the current status happening again. The Banks are NOT entitled to some inherent profit with the issuance of credit cards that are not repayable.
34. BOFA is an outrage- they are stupid and greedy- Senator Illinois. Washington reacts to bank debit swipe fee. The first shot or 2 or 3rd shot against the Banks, depending how you look at it, in the War to follow. NB
35. Buffet bets $1.6 billion on TESCO reduced price winning back Britons
36. OPEC`s Crude oil basket drops below $100 per barrel ending a record $100 stretch NB
37. The Franco/ Belgium Bank nexus very much in the news ( DEXIA) borrowed $59 B , Deutsche Bank $86 B BNP $28 B from Federal Reserve Dec 2008.Europe recovery in Europe will take longer than people think- Ackermann Deutsche
38. ZAMBIA SATA Fuel currency decline after scrapping First Rand offer
39. Emerging market BEARS turn bullish on BRICS leading as the World trails. NOTE SA CENTRAL BANK warns equity traders today. ( Point 2 above)
40. French/ Belgium Governments pledge security DEXIA loans, debts & deposits NB!
41. Phillip CANFIELD (Chicago, DTR Capital): Seeing many deal opportunities in this market. “Purchase price must reflect the debt cost to capital”. Prefers these markets where the spread is so high, and exit when the panic is over and the prices have risen considerably. Specializes in Banks , Healthcare ...
42. OBAMA sends Columbia, Panama , & South Korea Trade pacts to Congress
43. S &P; 500 falling below 1100 for the first time. All other markets tumble (avg. Between 3-4% today) led by banks . SOXX 600 down 2,78%. DAX down 3,49%
44. NEW CONCERNS about Goldman & Morgan under review by analysts
45. DORSEY stock picks: WELLS FARGO is going to do very well over time along with BLACKROCK & AUTODESK
46. China says US risks trade war as senators target YUAN
47. EURO reaches a decade low against the YEN , as EU weighs in Greek debt
48. Judith Vance –Eaton Portfolio Management BOSTON: Apple has $73 billion in cash on the balance sheet. APPLE a value stock with strong dividends, the type of companies in the portfolio of $37 billion. NB
49. SLOVENIA heading for a difficult period , cuts GDP forecast- Central bank finance minister says
50. Anglo American says COPPER fundamentals still strong
51. BEAM begins trading.(e.g. JIM Beam) Matthew Shattock, President & CEO- Liquor is recession proof. BEAM owns 10 of the World’s top 10 of 100 spirit alcohol brands. The worlds no 4 player, and we are flexible enough to realize opportunities. “The New Maker`s market’. (Skinny Girl brand). BEAM will be the largest based Spirits company
52. CNBC Interview: Senator Bob Corker (R) Tennessee. The current bill in the Senate could spark a trade war. (China YUAN currency to be raised).
53. DOW sees its worst % October start since 1998
54. DEXIA Franco Belgium bank the big story today, Guarantees US Municipal Bonds in financial trouble. Both Governments have 9 France/ Belgium) have underwritten debts, loans & deposits
55. REUTERS: EU to formally object to the NYSE Deutsche Bourse deal.
56. S&P; breaches BEAR market territory –down 20% from April high
57. S&P; has the biggest 3 day drop since August 8-10
58. EU leaders are talking about a 21% ‘haircut” on Greece, but traders know the discount is 50%. The July 21 Agreement is outdated
59. The market stress is about the French & Belgium Governments backing the weakest horse, i. e DEXIA with deposits, creditors & loans. What will the impact be with the Greece default, even if it’s a selected default?
60. European stocks tumble on debt; DEXIA leads; Air France sinks
61. S&P; 500 1,363 a year ago- Down 20 today at 1,081. BOFA down below $6 a share heading towards $5. The run could be lower as traders stop options force them to sell.
62. BEAR markets turn bullish after the longest losing streak since 1998
63. Bernanke speaks to Congress 11.am CET after stating there is “Significant Downside Risk’ to the economy. Policy makers will want to determine the scope of the RISK statement Bernanke made 21 September 2011
64. TUSK fail to lure investors as default swaps deteriorate; Polish credit
65. EU signals that “Investors’ will have to take bigger knocks on Greek debt
66. Bernanke; FED prepared to take further action as appropriate to spur growth. Sluggish job growth likely in the coming period.
67. VERIZON puts the highest since 2005 after shares rally in Telekom.
68. Greece braces for a 24hour strike as 30 000 civil servants are cut
69. Bank default swaps increase in Europe as Greece write-offs are 3 times larger than anticipated. The 3 principal banks SOCGEN, BNP, DEXIA have provided for 21%
70. SOMALIA Government Building hit by a suicide bomber- 70 die
71. Deutsche Bank cuts profit forecast, cuts 500 jobs on ‘unabated’ slowing of the economy
72. ATP cash is crimped from Gulf crisis it didn’t start
73. Crystal lake discusses Yahoo share sale with Russia`s Digital shy- ALIBABA
74. Bernanke says corporations have some $2 trillion sitting on the sidelines. They remain uncertain about the strength of the recovery and want greater clarity before the funds get deployed. The Senators want to know if this is policy of the Executive level of the FED? Bernanke answer was cut, before he could respond.
75. Manhattan apartment sales rise amid economic crisis creating a bipolar market. ( Note: The same has happened in London with upmarket Apartments for investors looking for sustainable assets
76. US capital equipment ( excl aircraft) have surged the most 3 months
77. Interview: Julian Callow- Barclays Capital Markets & International economics-
78. Berovsky used Yeltsin ties to get Siberneft
5 October 2011 (Wednesday)
1. Italys rating cut by Moodys on concern country may struggle to trim debt
2. Jason Maynard- Well Fargo Securities CEO
3. Most Asian stocks fall on Italy downgrade overshadows effort to protect Euro
4. RUBLE Bond scraped the 3rd time
5. Japan stocks fall for the 4th day on Japan downgrade
6. Vietnam must fight fastest inflation before raising rates- IMF says
7. Thailand- worst floods in a century
8. S&P; 500- the cheapest since march 2009
9. Moody`s cuts Italy’s rating by 3 notches as Nation struggles to pare debt
10. Philippines scales down by offering infrastructure projects to investors
11. Australian lawmakers call for an investigation of Central Bank cover up allegations
12. Turkey M&A; outdoes BRICS and attracts Goldman Sachs
13. Japan needs more Chinese assets as trade grows
14. Moody`s warns of more downgrades
15. Japan should have more Chinese & Korean assets in reserves-lawmakers says
16. New York beats top spot London with real estate financing
17. SA- Richards bay terminal for exports reduced by 7,5% in September from a year ago
18. Japan offers $43 billion to top banks for overseas mega-mergers
19. Saudi Arabia vows “IRON FIST” for attack on oil province
20. DEXIA bailout shifts banking crisis from periphery of Europe to heartland
21. Bulgaria- a third of banks are controlled by Greece NB
22. KENYA may raise rate for a second time as Worlds worst performing currency
23. RUBLE advances for the first time in a week as oil rallies- Russian credit
24. Sarkozy Euro debt role undermined by enquiries before elections
25. Portugal wins reprieve as bondholders forgo early payment
26. Finland saves face as they accept Greek collateral no-one else wants
27. TALLAT raised to outperform by Credit Suisse
28. Death of the euro exaggerated with PIMCO non-political will
29. Gold`s long term fundamentals to remain strong THEADNEEDLE ASSET says
30. DEXIA to pool assets into “Bad Bank”
31. Anti Wall Street protests, now planned for Boston & Chicago
32. NOYER: EFSF & IMF have $1 trillion in assets to fight sovereign debt crisis
33. Property, construction bankruptcies increasing in England- Deloitte says
34. CMC Holdings Kenya sees profit down 25% this year
35. Merkel says those demanding an endgame to Euro crisis have no clue
36. AKAMAI plunging 57% invites IBM & VERIZON as a takeover target
37. Copper rout unlikely to dampen Chile $67 billion investment in copper
38. SPAIN regions rush to sell $1.3 billion in property as debt pressure grows
39. Kenya budget Office criticizes Central Banks ‘mixed messages’ on policy
40. Moody`s sees more significant downgrades
41. Paul De GRAUWE-Brussels-:Economic Advisor to Jose Barroso-Leuven Catholic University- Sovereign default is unavoidable if the Banks don’t get liquidity
42. Greek strike of 30 000 challenges Papandreou challenge closes airports
43. Warren Buffet Berkshire- The 5 largest businesses will show record profits or close there to this year. The recession has no effected his businesses
44. OPEC risks bear market with the recovery of Libya
45. SA equities advance led by Anglo & BHP Billiton
46. Samsung seeks to block Apple new IFONE 4S in Italy & France
47. Qatar shares rise most in two weeks led by Qatar National bank, on Europe
48. Rand strengthens most in a week after commodities rebound from a 10 month low
49. Mauritius sees lower tourism growth with crisis in Europe
50. Japan needs more Chinese assets in reserve
51. Bill o Neill (Merrill Lynch Wealth management) Chief emerging Market analyst HSBC-MSCI Emerging markets down 28.79%. Risks of a hard; landing in China in 2012 which will effect emerging markets in 2012.
52. BILL ACKMAN: Likes JP Morgan, CITI & even BOFA as recession, Europe, et all is already priced in for Armageddon. The time to buy and expect a 50% upside.( FOLLOW Bill Ackman forecasts.
53. AUSTEN: VIOLENT moves in bank DEFAULT SWAPS. Selling of protection now is busier as clients open new accounts. Investors concerns on Euro driving up CD`s
54. Italian bonds decline after downgrade; US futures up
55. Turkish LIRA surges after Central bank sells $1.35 billion
56. Oil climbs for the first day in four as US stockpiles unexpected low
57. Kenya`s Shilling falls for a fourth day
58. Bill Ackman –BIG bet on JC PENNY
59. S&P; 500- energy is at the top
60. Moody`s sees more down grades, significant market risk
61. BILL Achman-Pershing Square capital- HP – “A big complicated mess”. It looks cheap, but..... no direction in a highly competitive market. TOO MUCH BRAIN DAMAGE FOR THE PERPECTIVE RETURN.
62. CHALLENGER: September jobs cuts ( 115000) were up 126% in September and 212% higher than last September 2010. (Civil servants and Military personnel). 70 % of September job cuts come from US army & BOFA. Year to date 479000
63. Bank of NY MELLON accused of defrauding foreign currency clients
64. DEXIA may become a ‘BAD BANK” as Governments avoid injecting in new capital
65. American dollar surges with Treasuries even after downgrade
66. Energy puts near a 2 year high; no easing of current price NB
67. Tanzania in talks with China on $532 million PORT EXPANSION
68. Russian grain harvest may rise to 95 million tons this year , Russian president says
69. Kenya Central Bank raises rate to 11 % as prices soar, Shilling drops
70. Polish central bank keeps rates on hold
6 October 2011(Thursday)
1. Emerging market default swaps surpass crisis-hit Europe- chart of the day
2. Biggest S&P; 500 rally since 1998 seen by Barclays, UBS evading Bear market
3. APPLE- Steve Jobs, who built the World`s most successful technological company, passes away at 56. The World celebrates his genius and contribution to the World. Built an empire worth $360 billion today
4. BHP default swaps rise most since 2008as Rio risk rises- Australian Credit
5. HSBC lowers growth estimates on threats to exports- market turmoil
6. RADVISION plunges as TECH Industry cuts mount- Israel overnight
7. Harvard loses top ranking for the first time in 8 years
8. Trichet chairs his last policy meeting today
9. Turkish Central bank wields” big stick” on LIRA as reserves dwindle
10. Merkel says Europe`s rescue fund is the last resort for banks, NOT investors
11. REIT are set for Bond sales
12. Senate Bill punishing China on currency
13. Centuries old securities of MING & BLING push Hong Kong to records
14. Denmark says fight to escape BASLE HAIRCUT on mortgage debt far from over
15. Russia says to NATO that U.S missile defence system unacceptable
16. BOE may move closer to first emergency Bond purchases in 2 years
17. PONTANIN gain is Norilsk pain on loan premium for buy-back- Russia Credit
18. MARCUS warns of “difficult” economic outlook- Business Report
19. Hong Kong has no plans to ban short selling of equities, government says
20. Investors losing money by buying bail-out bonds from EFSF- EURO CREDIT
21. IMF/ World bank will start dialogue with Libya`s transitional government
22. EURO`s Teutonic fault line
23. Geithner says Europe`s financial crisis increasing global risks
24. SA stocks climb in opening trading led by Anglo, BHP, MTN
25. LONE STAR found guilty of stock manipulation as Korean stock exchange is cleaned out
26. Mauritius annual inflation rate reduced to 6.3% in September
27. BLACKROCK CEO Fink says he understands protestors “occupy Wall street”.
28. Protestors in porches say gulf can`t spend their way out of Arab spring
29. SERBIA may reduce benchmark interest rate as the focus is on growth
30. INTEROIL says significant players to join new gas project ( check Eurasia pipeline)
7 October 2011
1. Indonesia Bonds withstand record sell-off by foreigners: Chart of the day
2. Euro/ Dollar 1:34; Gold $1662
3. Asian stocks advance on outlook for European crisis
4. BOJ keeps rates unchanged at 0,1%
5. BOE has 200 Billion Pounds of QE in Place. Plans a further 75 billion
6. TRICHET keeps banks afloat while Governments stem crisis around Greek default
7. New Zealand loses AAA status with downgrade
8. Emerging markets post 10 weeks of outflows on debt concerns
9. Worst time for $2.6 trillion money funds to add to Europe`s woes
10. MOODY cuts Senior Debt Deposit rating, and downgrades 9 Portuguese banks!!!
11. BOE- Mervyn King- says the crisis is the worst ever and prepares to boost economy with 75 billion pounds
12. King loses faith in Europe and acts to stem “virus’.
13. Elizabeth Corley: Alliance global Investors: QE & Austerity measures without growth won’t work. Multi-nationals are investing in emerging markets and the ECB; IMF & World Bank need a co-ordinated response to make Europe attractive for production growth. Kicking the can down the road does not work, because assuming the road in infinite and the can is solid is over. The Road has come to a dead end! A plan of simply bailing out is unsustainable.
14. HANA Financial pushes for Korea Exchange takeover after LONE Star cleanup
15. MICEX (Russia)- down 22.93% in 3 months. The world`s worst performing market. PUTIN master plan unveiled to make Russia ‘investor friendly’. Capital flight has been leaving the Markets & Russia.
16. EU Leaders under pressure to find solutions to stem crisis before the next G-20 Meeting
17. New Zealand- downgrade double Bond risk gap as AAA rating is lost- Australia credit
18. UK- 12 Financial Institutions downgraded NB!!! ( LLODYS & Santander included). Liquidity & domestic operations
19. Banks down year to-date: Barclays 36%, LLOYDS 39% & RBS 49%. Banking crisis escalates today
20. U.S :ROMNEY plans to boost defence spending with Iran nuclear ambitions
21. Crop death seen boosting sugar as stockpiles are at a 37 year low. NB
22. SA Foreign currency reserves drop 3.4% on lower gold price
23. Best bonds in Europe show confidence in TUSK: Polish credit
24. Merkel- Sarkozy divided over Bank threat to their banks
25. DEXIA shares suspended as breakup forces governments Belgium, Luxembourg & France to merge entities leaving little if nothing for shareholders.
26. European banks to sell $40 billion of assets to stem crisis- KPMG says
27. Marti Feldstein ( Harvard)- Europe is not only to bame, the U.S is equal, with stagnated growth
28. SA may issue a $125 billion nuclear power plant tender- M& G reports
29. Australia has ample room to cut interest rates – IMF says
30. Vaughan Robinson Bennelong Asset Management (Bloomberg Interview)-‘Tail Risk Investing’- 80 million dollar portfolio- Tempest tail fund has doubled-Hedge against Black Swan events and other. Puts / calls into an eclectic group of events & currencies. Commodities ect. Contact NB
31. Mervyn King (BOE) says its the worst since the 1930s. King has no confidence in Europe. Osborne backs kings view on the crisis
32. Nigeria bans oil groups from buying Dollars at auction
33. Russia lends Venezuela $4 billion, gains oil offshore investments
34. Obama says Pakistan has unsavoury contacts in Afghanistan to hedge
35. BMW struggles with ‘Mini’ market as
36. Premier foods plunges as estimates are missed
37. SA Miner nationalization talk ‘appropriate’ says AngloGold CEO
38. Canada`s unemployment rate fell to 7.1% as 60 900 jobs were created in September
39. DEXIA inches towards breakup as Belgium, France & Luxemburg rally with salvage
40. SAPPI to slash jobs and climbs most in 11 months with a new strategy
41. Jeffrey Sachs Columbia University-Director of Earth Institute (Get New Book- “The price for civilization and US Prosperity”) Special advisor to the UN- THE US has a structural problem, and current solutions are short term. The Dallas FED Chairman says the US is an economic desert. Sachs was prompted to write a book about all the issues facing the US and how to get jobs going, infrastructure, science & technology, education ect. Politicians are looking at quick fixes, bailout, tax, but the problems are long term in the making. We need to reinvest in skill & productivity. “We have a structural problem in productivity, not cyclical”. We have political blockages in both US and Europe today, which is unprecedented. Is the US ever going to get out of the paralysis in Washington? The status we are in today, must not ever be under estimated , how deep the structural & debt problems are today. Wall Street protest reflects what is happening all over the world. We are on an economic path , that is not working. From Chile to the Jasmine revolution, leadership has to take notice as will leadership in Wall Street.’ Europe is divided from North to South, and leadership is needed because the each problem is a short term solution which needs approval in 17 parliaments. The World cannot wait for leadership to convene. Reorganized Europe would really boost the whole World.We need Merkel to come forward to save the euro
42. IRISH trophy home plunges 75% in price as property millionaires disappear
43. ATP of Denmark snubs France, Italian debt as funding collateral
44. Rwanda central bank raises rate to 6,5% to curb inflation
45. Rail cargo rises in peak season as Buffet sees no recession
46. UNIVISION shares (Latin America)- take note
10 October 2006 (Monday)
1. Short selling rising most since 2006 as $11 trillion is erased from stocks
2. China stocks drop to a two year low after Banks and property developers slump
3. Corporate profits drop to the lowest levels since 2009
4. Thailand bolsters defences in Bangkok as water reaches ‘crisis’ levels
5. Belgium to buy DEXIA local unit as Bank is broken up
6. BOJ says that 9,7% of bank loans are going bad
7. Hong Kong stocks head for the first decline in 3 days as developers drop
8. Alibaba to seek financing from TEMASK to buy back YAHOO stake
9. ALOA stock has lost 46%.
10. Paulson Fund (VANTAGE PLUS) said to have lost 47% this year.
11. $6 trillion has been wiped off stocks since August 2011
12. Cap on Franc pushes Switzerland closer to 1980 housing bubble
13. Tumbling RUPIAH may force Bank of Indonesia to delay rate cut
14. Sarkozy/ Merkel undertake to do all to shore up European banking crisis
15. MA invokes memories of 1911
16. Spain (AA-) & Italy (A+) cut by FITCH
17. Death of Jobs increases plea for Apple to release $76 billion in cash
18. DEXIA collapse puts Belgium on Ireland’s rocky path to ruin. Dexia chairman says Euro crisis hit Dexia full-on
19. ERSTE Bank (Austrian) down 15, 51% today , on 800 million Euro loss. ERSTE to keep $1.6 billion in state loans as write downs 2011 loss
20. Hungary & Romania financial crisis escalates
21. 10 Spain bond 4.99%: Italy 5,5%
22. Egypt- riot clashes kill 24 with security forces as Muslim/ Christian inflamed
23. Springboks lose RWC quarter final to Australia 11-9
24. Rand gains most among major currencies on Europe Debt pledge
25. ORASCOM Construction –Egypt largest construction company down 28% this year. Analysts say its oversold
26. ERDOGAN`s fighter jets challenge Cypriots over Mediterranean gas exploration
27. EURO strengthens, S&P; 500 futures jump on European debt pledge-US outlook
28. London financial job vacancies drop 19,9 % in September to the lowest point this year
29. NORSK KOG to sell assets to avoid 93% of certain default- Corporate Finance
30. SA stocks rise for the fourth day led by Anglo & BHP
31. China knows highest quality comes with the lowest prices in Hong Kong
32. No recession for US as forecasters predict mild growth
33. Deutsche bank overtakes Barclays with bond sales for 2011
34. Dubai shares fall most in a week on European debt concerns
35. Emerging markets swing between gains and losses as China slump counters Euro crisis
36. ERSTE keeps 1,1 billion in aid, cancels payout, to write off 1,1 billion in losses
37. Turkish Shariah lenders lag on loans as default rate increases
38. Egypt may be forced to receive $3 billion IMF loan it rejected- Arab Credit
39. DEXIA shares were frozen 6 October- shares down a total of 43%. A guarantee from Belgium today , having acquired all the shares may result in trading later today. Belgium only to buy local unit and Luxembourg sale in negotiations
40. Danish bank crisis continues as economic growth fades
41. OIL gains a fourth day as Europe pledges to contain debt crisis
42. Deposit rates jump by record as banks skirt highest yields- Russia credit
43. Stocks in SA climb for a fourth day led by AngloGold & Gold Fields
44. China YUAN strengthens most since 2005 as forecasters predict growth amid US pressure
45. Hedge Fund sentencing of RAJARATARAM insider trading may be the longest ever
46. SLIM poised to deal in Africa as Latin America slows- Mexico credit
47. Russia in talks to buy Spanish state debt, Medvedev aid Dvorkovich says
48. Lithuanian inflation rises in September on food
49. U.S. Obama jobs council seeks $1 Trillion in investment over the next 5 years- WSJ
50. Danish bank crisis killing business as economic growth fades
51. LIRA strengthens on bets Morgan Stanley , CITI are right on recommendations
52. ERSTE drops most in 2 years after Eastern European write-downs leads to loss
53. KUWAIT customs strike threatens Ports & airport
54. GOLD $1666
55. RIO TINTO surrenders 51% stake of Zimbabwe entity- herald newspaper
56. No recession for emerging markets- Marcus says
57. Wells Fargo boosts stake in Global (Golden?) Capital Management to 65% and strengthens ties
11 October 2011 (Tuesday)
1. Goldman Sachs earnings collapse as Wells Fargo goes for record year
2. Japan current account surplus shrinks as earnings abroad slows
3. China adds Japanese debt for the first time in 10 months amid global turmoil
4. Philippines exports tumble the most in August since 2009 on electronics
5. Oil trades at a two week high as equities rise
6. Japans Nikkei 225 gains the best in 2 weeks on EURO debt pledge
7. Egypt on alert after another night with 25 dead on Coptic’s clashes
8. Bonds showing 60% chance of recession with Bernanke behind curve for BOFA
9. Top currency forecasters say the best is over for the Dollar as Fed embraces easing
10. PIMCO buys into China into share drop and says emerging market stocks are ‘cheap’.
11. PUTIN courts China to bridge differences on gas differences. 2 pipeline and 60% of China imports. China wants a cheaper supply of gas. Trade & energy meeting. Russia is the world`s largest producer & china the largest consumer
12. ANZ Bank caps pay for 900 executives as lending growth cools
13. China bank shares rally as State buys shares after valuations slump
14. Soybean slump ending as record global demand overwhelms farms- commodities
15. Japan current account surplus shrinks as growth slows abroad, Yen rises
16. EGYPT-EGX 30 down 44,8% this year. Stocks continue to tumble with violence
17. EU condemns Syrian president. Sanctions & targeting by the EU of Syria biggest banks is next
18. Rate Swaps at a 16 month high as European plan elusive. Credit markets
19. YEN yield gap to foreign debt
20. Australian Dollar drops on EURO concern; KIWI drips as deficit widens
21. Internet gold SOARS AFTER THE BIGGEST TA-25 rally since 2009- Israel overnight
22. Greek debt to GDP ratio to hit 175% by 2012 is too high. The EU is considering a 60% ‘haircut’ on outstanding debt. The haircut has to be voluntary. 2 year Greek bond 75%
23. Rate swaps at a 7 week low as policy makers ease credit- China credit
24. ECB TRICHET: Contagion is systemic and has reached crisis proportions and matter of urgency, all supervisors, EU Governments must act swiftly. Further delays will worsen situation. Liquidity and lending is further hampered. New lows in foreign currencies. ESRB will publish first recommendation on lending. Liquidity and funding risks heightened. ESRB recommendations aim to address concerns. Euro crisis has reached ‘systemic dimension’. Sovereign stress has moved to larger nations. EU facing extra ordinary conditions, authorities have until 2012/2013 to implement ESRB recommendations. Significant risk of lending in foreign currencies
25. Iran is accused by U.S. of a plot to assassinate Saudi U.S Ambassador. (The sabre rattling begins – Iran is next!)
12. October 2011 ( Wednesday)
13. Saudi Arabia lays 2400 km of track to ease oil pipeline yoke.- Freight
14. Senate blocks Osama’s job plan
15. Iran signs $1.9 billion oil contract and replaces Russia`s Gazprom from Azar field
16. Walls street sees no exit from financial decline as bankers fret future
17. PIMCO sells default swaps on Banks as prices hit a record
18. Osborne defends economic strategy as opposition warns of ‘JOBS CRISIS’
19. Singapore plans ‘judicious’ management of the dollar as economic growth slows
20. Bonds match longest set of decline since February 2011- Australian Credit
21. Spain`s blank cheque may offer RAJOY room to reduce budget deficit. Euro Credit
22. SA may use ‘RESERVES’ to ease market stress; Rand strengthens- Gordhan says
23. US Senate blocks Obama $447 billion Jobs Creation Plan on a bi-partisan vote
24. Sheiks use Soccer diplomacy, as Arabs reinvest in Spanish ‘property’
25. China expresses opposition to Yuan Bill and threatens a trade war
26. SENATE PASSES YUAN BILL , even as BOEHNER is opposed
27. Slovakia votes against the ECB fund , the only country in the EU to oppose
28. Unemployment in the U.K reaches the highest level in 15 years at 8,1%
29. Putin`s deficit free budget plan makes the RUBLE the best of the BRICS- Russian credit
30. Timothy Guinness- Guinness Asset Management Impact of Arab spring on oil-Libyan oil is high quality, and will be absorbed. Signs of friction with OPEC. They have always cut to put a floor under the price-More trouble in Middle East- Syria is a powder keg, and its right next to Saudi Arabia. Iran could come in , which puts a whole new subject. NB! THE OIL WEAPON BEGINS WITH IRAN.
31. NOTE: STATEOIL ASA. The Arctic strip adjoining Russia & Norway has now been settled, and future oil exploration is limited to a few. Most oil companies shares are priced at a cost of oil at $60-70 / barrel, and expect an average of $80 for 2012 .Note the upside if the Middle East gets inflamed .NB
32. Gold eclipses cocaine as billionaires and drug lords invest in Columbian mining. NB
33. Pippa Milgren, Principalis Asset Management- China has lost 50 million jobs with US debt problems on lower production, and there is no way this will sort. This is a US domestic lobbying issue before elections and issues of Security is more relevant if US wants a stronger Yuan. The KEY issue is jobs, and China bashing or any foreign national issue. This bad for foreign relations and a trade war is not what we want now.
34. DEXIA working on strategic options with Turkish lender,
35. Lithuania seeks funds from State Companies to trim debt gap
36. U.S- IRAN tensions flare
37. JP Morgan Colin Fenton; Gold may hit $2500 by year end(CNBC) Interview,( Current price $1686). The fundamental are right for Gold to continue higher . The volatility has doubled and doubled the average quarterly update from $2100-2500. NB.
38. HERMAN CAIN –GOP Presidential candidate (former Godfather`s Pizza CEO)- Amendment of the TAX CODE. The public understands my plan, and it will pass. Obama doesn’t understand that BUISNESS drives the economy.
39. JP Morgan may report a 10% profit decline as Europe saps investment income
40. U.S. NYC Banking 10 000 banking jobs to be lost in NYC: Bloomberg Interview Dyanopoli.
41. SOROS: Euro needs a European solution now.
42. Joseph Stieglitz on ‘Walls Street says,-‘ Socializing losses and privatizing gains” a nd agrees with demonstrators.
43. Global rules, to limit derivative risk and meet deadline, may be too late.
44. DRAGHI says Italy`s debt could become unmanageable if costs rise
13. October 2011 (Thursday)
14. IMF says escalation of European crisis could severely effect ASIA
15. Dick Bove- Volker Rule. New regulations so that Companies to do not do proprietary trading with their own money.
14. October 2011
15. Spain credit rating cut by S&P; amid concerns Europe’s debt crisis is worsening
16. Singapore cuts growth forecast amid monetary easing
17. ERIC CHANEY ( chief economist for AXA): We are at a crossroads for Italy; French debt of 120% of GDP unsustainable without growth which has stopped
18. DRAGHI to take over reins from ECB
19. Germany backing Italian debt seen as a ‘key’ to stemming EUROPEAN BANK Crisis
20. TELKOM SA says that KT Corp could acquire 20% of Telekom Company
21. China lending falls to the lowest levels since 2009; growth remains above 6%
22. Central Bank buying means GOLD will go to $2000. Chart of the Day
23. Lowest debt yields to equities lowest since 2008 results in buy-back- Russia credit
24. Wall street rallies now goes Global with plans for London & Sydney
25. French banks share price down year to date: Credit Agricole (47% ), Society Generale (41% ), BNP Paribas (32%)
26. Property loans fall to a 2 year low- China credit
27. Greece Bondholders brace for bigger losses in efforts to solve crisis- chart of the day
28. SA stocks rise for the best week in a 6 weekly gain led by Anglo
29. Growth in sports gambling leads to match fixing, security head for FIFA says
30. House prices in U.K decline amid European debt crisis undermines confidence
31. G-20 said to boost IMF funding to stem crisis
32. Rand gains amid Chinese inflation
33. Volksbanken plans revamp amid 750 million euro write-down
34. Goldman Sachs beats NOMURA as top M&A; underwriter for the first time since 2006- Japan Credit
35. APPLE may sell 4 million IPHONES this weekend as crowds gather
36. G_20 said to weigh boosting IMF lending finances to stem crisis
37. CHINA targets GE with $15,5 billion war chest to triunph in Solar Power NB! ( Trade war begins)
38. European Banks face boycott from private capital leaving with tax compliance on the hook- Chart of the day NB
39. Greek Bondholders prepare to lose 60%
40. SA Finance Minister GORDHAN says G-20 looking for ‘decisiveness’ from Europe
41. Belgium moves towards a full-time Government after a 488 day deadlock
42. G-20 Ministers pressure Europe. Finance ministers and all interested parties, China, USA (Geithner) et all meet in Paris today.
43. Trichet says the weakness in Europe is leadership apart from debt issues
44. ECBs Stark calls for ECB budget to bolster blocs fiscal ties
45. Natasha VALLA ( Goldman Sachs Europe)- See interview & follow insight on macro fundamentals
46. US Money market funds cut lending to French Banks buy 44 % on debt crisis
47. Michiel Van Crannenburgh (Neuflize Private Assets- $5 Billion under management))- the underlying fundamentals for emerging markets remain strong like “energy & commodities”, with a long term Bull Market. Yes, there may be an initial contraction with the European cisis which will take time to solve, but emerging markets is where he will stay on the longer term. No banks>
48.
12. 12. **October 2011 ( Monday)**1. Phillips cuts earnings forecast from a 2 year low with 4500 jobs seeking $1.1 billion in savings
2. EU given 1 week to fix crisis as G-20 warns world Economy is threatened.
3. Euro/ Dollar 1;38
4. Hedge Funds add to raw material bets with biggest rally of 2011- commodities
5. YEMEN`s capital rocked by explosions as Arab league meets on Syria violence
6. Wall Street protests go global- London, Rome, Paris
7. Italy has 2 largest debt in EU at 120% of GDP. Youth unemployment 27,6% and Berlusconi support fragile
8. RIO TINTO to sell 13 aluminium assets
9. RIGHTMOVE is the third most successful stock on the STOXX 600. Dominance of online market (+80%)- CEO MILES SHIPSIDE
10. Default swaps plunge from record as slowdown spurs haven bid. Japanese Credit
11. Singapore exports unexpectedly plunges September as electronics slump.
12. BULLS converging with BEARS as consumer stocks at 2008 high
13. Central banks selling most Treasuries since 2007 prove no barrier to rally
14. The big issue this week. How will the EU Banks be recapitalized; will the “firewall’ be large enough to contain crisis; and how much will the Banks write off?
15. Italy is still the centre of the current storm along with Portugal & Spain. Rome experiences the worst violence in years, and public blame Berlusconi for unemployment (27,6% of youth), economic growth & sovereign debt.
16. LOANS to FRENCH Banks slashed -44% in September alone. Risk aversion has resulted into liquidity and capital requirements. They are tapping the ECB for emergency cash, converting into DOLLARS and selling assets.
17. Bangkok spared as Thailand`s worst floods in 5 decades recedes
18. JORDAN Bank credit rises to the highest level in 3 years on growth. ARAB Credit
19. JAPAN cuts economic view for the first time since April; YEN rises
20. CHINA growth may exceed 9% with global growth posing the ‘biggest’ risk
21. Hedge Funds raise bullish bets on oil price as futures increase by $10
22. Italy has few Government alternatives to ‘Berlusconi Premium’. Euro Credit
23. Wells Fargo could post record profit for 2011.( US largest mortgage underwriter).
24. BLACKROCK lured to junk as spreads shrink most this year. Credit markets
25. SHIPPING SURGE leaves equity analysts behind on rates. Chart of the Day
26. G4S PLC (Nick Buckles CEO) acquires ISS from funds acquired by EQT, Goldman Sachs for $8.2 billion
27. ABU DHABI shares sink to a 2 year low as property developers drop on supply
28. PSG GROUP plans to keep control of CAPITEC BANK- Business day
29. EURO/ SWISS FRANC 1;23 – ( Speculation will go to 1:30-40)
30. BOE stimulus may not be enough as UK outlook worsens- ITEM club says
31. KINDER MORGAN buys EL PASO Corporation for $21 billion, for control of the World`s largest pipeline . KINDER raises bet on natural gas project. NB
32. POLISH Re-Election is ‘Credit positive’-Moody`s says in report
33. What KINDER MORGAN $21 billion acquisition of EL PASO means for the gas industry? The largest pipeline in the U.S. Barclays loan
34. XSTRATA strike effective through all operations in South Africa –UNION says
35. INTERNATIONAL PETROLEUM plans investor meetings in U.S. & EUROPE
36. SA stocks gain for a 11 week high on optimism of European resolution
37. Funds flow out of the EURO as Bond withdrawals double as bankers prefer YEN
38. IRAN- Military force an option by the U.S NB
39. EU said to be close to Naked Default Swaps
40. MF GLOBAL ordered to boost capital- WSJ
41. SANAA rocked by explosions as SALEHs troops battle YEMEN tribal forces
42. GERMANY shoots down ’dreams’ of early end to EUROPE SOVEREIGN DEBT crisis
43. HUNGARY seeks to “drastically’ cut SWISS FRANC LOAN exposure- Lazar says
44. RBS may cut 5000 jobs. Profit from Investment banking unit stalls
45. SA stocks/ Rand falls as Germany says there is no quick fix to EURO Sovereign Debt Crisis
46. CITI GROUP profit 74% far higher than analysts forecast on accounting gain for Q3. Fixed income tops JP Morgan
47. EU close to an accord on a curb of naked sovereign default swaps
48. TANZANIA inflation jumps to 16,8% in September from 14%-Agency says
49. Manufacturing in New York FED region shrinks more than economist forecast.
50. CITI GROUP has $32 billion of funded and unfunded exposure to France & Belgium
51. ANADARKO will pay BP $4 billion to settle all claims in Gulf of Mexico spill
52. RUSSIAN industry expands at the slowest pace in 2 years, misses forecasts
53. ‘Zero out’ drive puts the squeeze on $17 billion of TECH
54. APPLE Shares $422.80. Sells 4 million IPhone 4S phones over the weekend. Share price to rise dramatically as APPLE gets the largest share of this new IPHone market
55. HORIZON Blackberry problem has consumers rushing for the new Apple IPHONE.
56. Bankers bridle at EU`s push to discount Greek losses further
57. STATHAM buys BRIGHAM for $4,4 billion in cash to gain oil shale .
58. Corporate Bonds rebound from worst drop since 2008 on URALS; Russian Credit
59. Russia to reduce oil export tax by 4,5% from URALS
60. US Treasury to Auction $30 billion of 4 week bills NB
61. GERMANY is opposed to expansion of the EFSF, until a bank stress test is done since the crisis has extended beyond Greece. Disagreement of bailout firepower.
62. Italian match fixing earned over $2,75 billion over six years , FIFA says
18 October 2011 (Tuesday)
1. European stocks fall for a second day on debt crisis
2. Qatar national bank says it is committed to winding Islamic business
3. LVMH sales rise 18%, topping estimates. High end brands rule
4. World beating ENERGY BONDS offer an alternative European haven on OIL BET. NB
5. SCANDINAVIAN BANKS risk backlash from investors seeking crisis adjustment
6. Spain sells EU4.6 billion of Bonds versus target of EU 5 billion
7. UKRAIN may increase gas price to unlock IMF funds
7. CHINA`S economy expands at the slowest pace in 2 years on drag from Europe
8. IDC to offer billions to South African rural industries- Business Day says
9. Stocks drop on slower Chinese growth, EURO DEBT; copper tumbles.
10. Inflation in the UK rises above forecasters to match a 5, 2% high
11. Qatar shares fall the most in 2 weeks, led by Banks; EURO debt
12. RAND weakens, stocks drop with commodities on China growth concerns; Euro Debt
13. OLYMPUS Investors lose 3 billion on the firing of Woodward on Board dispute; Woodward consults with UK SFO on irregular payments from Olympus of $687 million to unknown parties.
14. South Africa says it plans emission limits for Companies & Industries
15. KENYAN troops drive deeper into Somalia to stave off attacks from AL-SHABAAB
16. German investor confidence at a 3 year low with DEBT woes
17. France runs risk of losing top rating by Moody`s with the cost of default swaps now the 3rd highest in the EU
18. Ghana central bank may keep benchmark rate of 12,5% unchanged after CEDI weakens
19. East European growth effected by central EU debt Crisis-EBRD says
20. UKRAIN to increase gas price to unlock IMF funds
21. Goldman Sachs buys investment in CHI-X Global with Morgan Stanley
22. BOFA said to have split regulators over moving Merrill Lynch Derivatives unit to Bank Unit
23. Goldman Sachs posts its 2nd quarterly loss in 12 years
24. ANGOLA economy to expand 12% in 2012, president Dos Santos says
25. James Keenan – Blackrock High leverage Yield CEO since 2004- Long term investments. Bank earnings models are changing, demand for loans is lower now. Companies with a more dominant market share, with a long term value, and higher yields
26 Stocks fall on FRENCH rating concern, Chinese economy, and Treasuries advance
27. Ireland may transfer Irish Allied rescue to the EU
28. French, German spread reaches EURO era record
29. PUTIN deficit relief drives swaps below POLAND, TURKEY. Russia Credit
30. Foreign net buying of long term US net assets $57,9 billion in August
31. ASSURED GUARRANTEE sues CREDIT SUISSE on mortgages
32. South African inflation pressures aren’t ‘entrenched’- Central banker says
33. CHINESE currency serves as a distraction from failed U.S policies-VIEW
34. International demand for U.S assets grew more than forecast for August
35. Pennsylvania issues low rates as Harrisburg defaults
36. Goldman Sachs buys a stake in CHI-X GLOBAL EQUITY VENUE along with Morgan Stanley
37. U.S cant ignore Irans speedboat threat
38. GHANA 2nd half growth 16,4%
39. SHIPPING jumps as slump in IRON ORE prices spurs demand
40. FED PRESIDENTS differ on CENTRAL BANKS ability to stimulate more growth
41. GHANA revises second half growth to 16,4%
42. Goldman Sachs down 40, 4% year to-date.( analyst comments: Rather a symptom of the environment than the FIRM, which has the best talent in the World)
43. Delaware as U.S
44. Auction yields seen falling to a year low on TUSK. Polish Credit
45. JP Morgan takes over BOFA as the NO1 lender in assets
46. HSBC HAMANAH`s
47. EERST should have marked down is DEFAULT SWAPS earlier. JP MORGAN says
48. ITALIAN match fixing earned over $2, 75 billion in 6 years-FIFA says
49. BOFA $6, 22, reports profits
19 October 2011
1. SUB-SAHARAN AFRICA would be hit by a ‘Global Economic Slowdown’-IMF warns
2. GREECE held hostage as a 48 hour strike halts the country. Papandreou vows to pass the latest round of austerity packages.
3. Deficit driving SWAPS
4. EGYPT long term ratings cut to BB-
5. UGANDA Central Bank to take all ‘appropriate ‘actions to support currency
6. SUGAR shortage extends across EUROPE as global glut expands-Commodities
7. WALL STREET 1% to meet 2 billion seeking answers (Global Protesters) re Banking & Sovereign Debt meltdown)-Commentary by William Pesek
1. SPAINS CREDIT rating cut for a third time since 2010 by MOODYs amid debt crisis
2. BOE voted unanimously to add stimulus of $380 Billion to economy
3. DE BEERS sees diamond prices steadying after rising 35%, CEO says
4. Banks in Europe vow $1 trillion of shrinkage amid threats of recapitalization
5. EUROPEAN stocks advance amid reports of EFSF expansion; US Futures drop
6. South African inflation reaches 5,7% as weaker RAND results in higher fuel prices
7. EU reaches deal on OPTIONAL NAKED CREDIT- SWAPS BAN on short –selling law
8. CHINA reduced its holdings of U.S TREASURIES by most in August.
9. Subprime Derivatives tumble
10. NORDEA BANK income slumps 43% amid debt crisis
11. Retailer Pick n Pay , first half profit declines 46% due rising costs
12. Syndicated loan revival falls to a two year low- India credit
13. UNIBANK`s PROFUMO said to face investigation as banks assets are held
14. Builder debt tripling as Western Europe shuns new borrowing- Polish Credit
15. BNP Paribas sued by U.S over bank`s alleged collusion in GRAIN led fraud
16. U.A.E Property Prices, Rent may drop a further 20% on supply
17. George Magnus- UBS Investment bank- LOAN & ASSET shrinkage is the debate between Banking elite & Politicians. The entire solvency of Sovereign Debt capitalization cannot be done outside of Bank Recapitalization. Boosting of the EFSF has to be large enough for the market to satisfy the market. Piling up Sovereign liabilities is not a solution to the problem which is the debate between France & Germany, which have to hold up the rest ( Note: INTERVIEW- BLOOMBERG)
18. KING says ‘time is running out’ with settlement to Sovereign Debt Crisis
19. EU raids Banks in probe of Interest Collusion
20. U.A.E sets up $2.7 billion Development Bank to stimulate economic growth
21. MORTGAGE Derivatives breaking with Bonds as PRIMEX tumbles- credit markets
22. SA should keep a ‘lax’ interest rate for growth- IMF says
23. UKRAIN CREDIT RATING cut to ‘stable’ by FITCH on borrowing costs
24. UNICREDIT/ DEUTSCHEBANK may have to inject the most capital- JP Morgan says
25. JP Morgan leads Wall Street in generating the most revenue for the fourth straight quarter
26. Swaziland denies negotiating a $300 million loan with Egyptian financiers
27. BOFA/JP Morgan say more investors are demanding refunds for post bubble loans
28. GREEK paralysis in Debt markets extends to riots in the streets-Euro Credit
29. APPLE-$399.54 – (Huge opportunity-views). Apple is a life style proposition with value with performance art that keeps you hooked.
30. Morgan Stanley has $2,1 billion net exposure to 5 euro regions
31. S African retail sales grew for August on 30 year record interest rate lows
32. Tanzania follows Kenya to restrict foreign currency to stabilize the Shilling
33. CITIGROUP said to settle with SEC over ‘Mortgage product’.
34. Mathew Dowd former George Bush Campaign head
35. BHP said to be negotiating takeover of Brazilian Iron ore producers
36. Paul Mcculey – Global interdependence director-30year bond another sample of a liquidity trap,( See TOM KEENE Interview with Federal Reserve Board Directors, St Louis )
37. Kaddafi & Son are killed leaving room for a New lybia amid a myriad of challenges
38. Saving banks from Portugal to Italy have borrowing loans higher
39. Nordic banks ‘have best place to hide’ from EU capital stress-UBS says
40. France likely to lose top rating scenario (AAA) with worsening status- S&P; says
21 October 2011 (Friday)
1. Japan to sell $10.4 billion more in debt to pay for earthquake damage
2. Italy, 6,01, Spain 5,55. France 3,23 Germany, 2.01 % 10 year bonds. The French have the most expensive risk cover at present
3. African Eagle has $10,4 billion in sales from DUTWA Nickel Project , Tanzania ( see Blue File)
4. Goldman seeking to raise CLO with spreads widest since 2009- Credit markets
5. SAAB`s survival chances diminish as Chinese investors withdraw from pledges
6. EU said to mull wielding $1.3 trillion – France & Germany can`t agree the bailout fund. Sarkozy wants a bank & Merkel wants to use the fund as an insurance fund for sovereign default. Franco German discord mars talks
7. Doubling of bonds in the USA as yields tumble
8. GROUPN IPO 30 million shares between $16-18. Seeks $11.4 billion
9. U.S.- Thomas HOENIG picked for FDIC Board.NB ( follow Hoenig with GF restructuring)
10. EFSF- European Financial Stability Fund- Temporary permanent rescue fund to be merged to create $1,3 trillion ‘firewall’ . Germans (Merkel) constitution does not provide for bailouts of other countries and prefers insurance fund for sovereign default, while the French PM (Sarkozy) wants a ‘BANK’. Governments need to recapitalize Banks and avoid assets being disposed of. (Note ‘privatization of assets-NWO)
11. Murray & Roberts restructuring debt as liquidity is under pressure. Increases expected loss on Gordon project to $64 million
12.’Deal with the Devil’ marks the end 66 years after Hiroshima
13. Europe may need $2 trillion as a bailout fund- says Nobel Laureate Michael Spence says
14. SUGAR traders most bearish in 3 months on glut
15. Dictator ‘PUTIN’ must be nervous after Kaddafi death- Mc Cain says
16. Record shipping contract boost Nova Scotia profile
17. Default traders raise French bets
18. BOFA $6.59
19. Libya has the largest oil reserves in Africa. Prior to conflict , production was 1.6 million barrels and dropped to 50 000 in July. Halliburton is considering returning and Waha oil ( JV with US) as plans to bring production to 600 000.
20. Vodacom battles to law suits with the sale of the CONGO operating licence
21. U.S regulators approve regulations for the design of first carbon trading system in California. NB
22. Trichet says anchoring a ‘low inflation rate’ in Eastern Europe a challenge
23. GE`s industrial backlog Q3 reached a record at $191 billion
24. Fitch hasn`t any plans to change France AAA credit Rating- agency says
25. Groupon IPO, puts $11.4 billion value on stocks, half the goal
26. Standard bank, sues Saudi billionaire for $150 million over his debt
27. Rupert Murdock clout in London is harnessed after scandal, says Gordon Brown
28. Euro leaders begin a 6 day marathon to reach an agreement on debt crisis plan
29. Notwotny calls Hungary`s Swiss Franc loan ‘nonsensical’.
30. IMF`s role is raising EFSF powers crucial says euro leaders
31. IKEA plans to spends billions to be U.K`s largest developer
32. GHANA`s CEDI rallies, posts best 5 days advance against the dollar
33. Italian Energy ENI finds oil gas off Mozambique
23. October 2011 ( Sunday- Rugby World Cup Final)
1. Yemen halts oil shipments from the Port of RAS EISA after attack- Ministry says
2. SWAN says European sovereign debt crisis shouldn’t dampen Australia
3. Flooding in South East Asia may cause wide spread food shortages- U N says
4. GILTS rise as investors seek safe assets amid Euro debt-plan turmoil
5. QUATAR ‘worried’ about European regulations on sovereign wealth funds.
6. TURKISH Bond yields rise most in 5 years on concern of LIRA concerns. Rates increases
7. Exit Turkish Lira, interest rates, CD`s trades,- Nomura Buyukkali says
8. TUNISIAN`S vote in their first elections since there uprising sparked the Arab spring
9. China must control food prices to stem inflation, sustain growth- WEN says
10. MERKEL calls for stronger intervention parties
11. IRAQ withdrawal by the U.S may spark power struggle in IRAN
12 All blacks 8:7 France and the new world champions
24 October 2011 (Monday scramble)
1. Swiss banks to pay billions in TAX Case, disclose client names
2. Turkey suffers its most powerful earthquake in a decade magnitude 7.2. Worst quake since 1999 , kills over 1000 at Iranian border
3. GREEK Bond swap hinges on collateral aspect to avoid default. Euro credit
4. Rand swings to a weak high, as commodities surge, Stocks led by BHP, Naspers &
5. Russian default comes back as Brazilian stocks sink to 1998 levels. Chart of the day
6. Banks plan for Europe reach half way summit as leaders stretch it out
7. Italy use to borrow money at 3.08 % for a 10 year bond. Today, the cost of borrowing is 6%. Greek on the hand pays 24% for a 10 year bond.
8. Banks defence against Spain & Italy
9. Saudi regulator said to be discussing opening Saudi Market to foreign investors
10. European Credit management starts fund to buy high yield financial & credit instruments
11. Clinton pressing Pakistan for joint covert ops against Qaeda terrorists
12. Hungarian economic index plunges to the lowest levels since 2009
13. Poland ‘likely’ to take measurers as DEBT ceiling is reached- S & p says
14. Iraq war cost $800billion over 10 years. There is no peace dividend as U.S withdraws by year end. IRAN is the big winner as U.S retreats
15. U.S envoy leaves Syria after receiving ‘credible threats’ to his safety
16. Caterpillar profits suggest recession proof. Estimate of an increase of 20% for 2012. Tops profit estimates, on equipment demand NB
17. Brazil stocks sik to 1998 levels
18. Euro strategists draw a line in the sand at 1;34. Merkel does all to save the EURO
19. Treasury considers new first rate bonds with TIPS
20. Federal Reserve likely to increase further new economic stimulus
21. Corrupt money flows into Trusts & shell companies –World Bank reports
22. Banks said to squabble with EU over Greek losses
23. S &P; to gain next week to 1272- Credit Suisse analysis says
24. Billionaire SPROTT buys Energy/ Commodities at recession lows
25. UGANDA to unblock $2.9 billion oil sale to GNOC
26. US –expanded mortgage refinance program to be released by regulators this week
25 October 2011 ( Tuesday)
1. Spain slipping on deficit means the chances of contagion increase-Euro credit
2. Japan plans BHAT loans to help Thai firms with flooding
3. Hungary may hold interest rates as Europe debt crisis raises risk costs
4. SA stocks rise in opening led by FirstRand & Goldfields
5. Thai water flow raises, threatening cities defences
6. Banks clash with policymakers on Greek debt losses
7. Exclusion from Euro zone makes default swaps the lowest in Slovakia- polish credit
8. Deutsche Bank`s $1 billion profit higher than analysts’ estimates on increased consumer lending gains
9. GOLD may extend rally to $2200 per ounce says AngloGold Ashanti
10. Euro regions ‘debt quality’ is worsening at a record pace- Chart of the Day
11. Trichet calls for Euro Finance Ministry at last speech amid protests
12. NOVARTIS will cut 2000 Swiss, U.S jobs in shift to lower costs in countries
13. URANIUM deals prove most lucrative as nuclear demand increases NB- Real M &A;
14. KING says BOE became very close to QE in September- Testifies on Quantitative easing
15. OIL bull market begins with advance to a twelve week high on rising demand signs
16. Montenegrin State asset sales are nearly complete- State official says
17. BP Chief Executive – plan to raise cash flow to 50% by 2014 by the sale of assets and apply the other 50% to debt write offs (Gulf of Mexico), share buy backs and new investments. ($45 billion in assets). This is a stock that is closer to 6 pounds than 4 pounds
18. Macquarie has an outperform on BG Group
19. Obama refinancing wave signalled in mortgage bond decline- credit markets
20. BOE`S Hane says banks must end ‘equity dictatorship’ as protests escalate
21.UK 10 year gilt 2.61%
22. BP profit falls more than analysts estimates as Dudley increases asset sales
23. European bank plans leaves lenders in Spain & Italy as the biggest losers
24. HERON seeking record prices in 36 storey apartment block
25. China & UAE companies require the most bank funding- allen 7 Overy says
26. UBS profit fell 39% on trading loss.
27. OLYMPUS says ex CEO is leaking secrets to hurt credibility
28. Head winds for global banking industry. Banks clash with Governments on Greek aid.
29. SAC Capital (Stephen Cohen been under scrutiny for years) under investigation by regulators on suspicious trades in 19 companies over 14 years. (Billionaires Hedge fund -$14 billion). Allegations, but not proof. Trades flagged by regulator
30.Hang Lung Chan says Chinese developers under the squeeze with tighter capital limits and may collapse
31. Neste oil jumps most in 6 years on renewable energy oils
32. Fed officials hint at more stimulus. The have extended balance sheet by $2 trillion and bought more mortgage backed securities. With no policy coming out of Washington, the Fed feels compelled to do something
33. Qadaffi buried at secret desert location as Libya`s leaders close the chapter
34. AVUSA plunges most in 5 months after warning earnings to slide
35. BIAS, Blindness and how we think
36. Denmark banking crisis has investors seeking bargains
37. Bigger bailout fund for Europe needs work as Germany faces Parliament vote
38. Greg Fleming –President of Wealth & Asset Management- Morgan Stanley Smith Barney- Advice to investors is caution. Has $1, 6 trillion under management.(Former president of Merrill lynch). Morgan Stanley has $50 billion in cash on balance sheet. “ Focus on what you can control’. U.S is in a far better position, and particularly corporations to manage head winds ahead Europe-“Is there resources to deal with the problem?”. The wealth management business has over $500 billion and plan to double that. Fleming intends to take market leadership with the management team with the best financial advisors in the system. Wealth management has shown its stable with recurring income. Morgan Stanley & Smith Barney was put together in 2009 by Gorman. Growth expected to outperform into 2013, irrespective of what happens in the markets. NB
39. Peter Solomon – Former Lehman vice Chairman- Pharmaceuticals & Technology Company’s best for M& A. Always need more drugs & tech changes all the time. Advice for corporations sitting with a ‘lot of cash’.
40. Inflation peaking in the U.S as prices tumbling in bear market
41. CROATIA guards against capital outflows as parent
42. DeutscheBank can reach capital level sought by Europe regulator –CFO says.
43. Tanzania may abolish TAX refund for miners to boost revenue
44. Czech finance minister say economic forecast worse than planned
45. Neville Isdell- Former Coco cola chairman & CEO (Interview: CNBC )
46. Roger Altman chairman, CEO & founder of EVERCORE PARTNERS (Interview: CNBC)
47. Gordhan budget address- composition of spending has to change.(Euro debt crisis). We have to act with resolve to meet the challenges ahead for generations ahead. We must address inefficiency and waste in public administration. How do we achieve a balance in the economy. Revenue, spending, borrowing requires a balance with growth & inequality to expand growth. Growth is expected to be 3.4% next year and grow into 2014. Reform will deal with outside systemic risk to the economy.
48. Deutsche Bank joins UBS in signalling more jobs at risk as euro crisis persists
49. Qatar economic growth to slow to 5% in 2012 –finance minister says
50. EU finance ministers meeting cancelled tomorrow NB ( The last day planned for resolution?)
51. IBM to buy back $7 billion is shares
52. SCA to release 2000 jobs in hygiene as shares rise
53. Italy pressurised by EU to stimulate economy
54. Caterpillar earnings confirm US exports will survive recession
55. Barclays on Italy. ‘Italy could become the scapegoat for every under achievement in the EU”. The EU has told Berlusconi to go back and stimulate the economy.
Italy pressurised by EU to boost economy as German prepares vote on bailout
56. MF Global plunges most since 2008 as net loss widens on trading
57. Kennedy Wilson growing in Europe as $1.8 billion real-estate deal boosts confidence
58. Fernandez gains control of Argentina parliament after landslide victory
59. UBS sees America`s wealth management unit making a $1 billion profit
60.UBS shrinking its investment bank
61. KODAK in talks with Hedge Funds on rescue cash
62. Deutsch Bank joins UBS in signalling more jobs at risk as crisis persists
63. US home prices fall more than forecast in cities -3.8%- case Shiller says
64. The price of civilization- Jeffrey D Sachs (Columbia university health faculty) (New Book on America). Americans are watching more than 5 hours of TV every day. We are falling behind in every major area every day and time to take stock. US not competing in skills, and not creating enough high competing jobs. We have a broken system with political discourse. We have the most corrupt political system than any democratic system. Leading US corporations have broken the law repeatedly. See mortgage fraud 2008 settlements.
65. Inflation peaking in the US with prices tumbling in bear markets- commodities
66. Switzerland’s banking secrecy laws have no place in a globalized world- View
67. IRELAND Bank fund sticks to asset sales even as properties slump
68. The Volcker Rule versus Glass Seagall- see Charlie Rose interview Bloomberg NB Will the consumer be safer with Dodd Frank ? Yes! (Volcker). The issue of too big to fail does no longer fly. The government can take it over?9 (JS: But , where do those assets get ceded too for further loan/ bond sales. In the EU, the National assets sales are being completed). The Dodd frank rule provides authority for oversight , which never existed before, particularly shadow banking. Money markets offer potential problems and the question of regulation is relevant. Banks had no assets, insurance or regulation. The EU sovereign debt crisis or sovereign default would have had a run on the money market. The Euro zone needs further integration , something like a EU treasury. We have had lapses in discipline, by consuming $3 trillion of Chinese exports while they purchases our treasuries along with the housing bubble. We borrowed too much, and have had a collapse in values. It takes time to work out and so must the Chinese. The average family in the US has had no growth in income in 15 years. The disparity of income has particularly grown of late, and the discontent is obvious on the streets.
26 October 2011 (Wednesday)
1. Avoiding catastrophe in Euro zone- emergency summit in Brussels- 14 crisis summits in 21 months
2. SA looking for alternative decision as it is debt ridden
3. Banks warn fewer airbuses in sky with credit crunch looms across Europe
4. Thailand floods ruining 14% of Thai rice
5. SWEDISH RIKSBANK moves to crisis mode, reverse interest rate increases
6. SAUDI Arabia`s ARAMCO to lead Gulf by issuing bonds next year- Arab Credit
7. SA stocks rise in opening led by BHP & AngloGold
8. TUSKS upgraded in debt market as S&P; waits for deficit plan- polish credit
9. Danish banks end to shorting stocks
10. Oils hottest race from Kenya to Greenland spurs $70 billion quest
11. Czechs don’t need Euro bond sale in 2012
12. Merkel puts euro rescue fund to vote
13. YEN reaches record against the dollar as stocks fluctuate before EU Summit
14. Marks & Spencer falls out of fashion with big spenders
15. Joke is on Europe as Sarkozy laughs at Berlusconi prowess. Euro credit
16. ALCOA seeks reopening of Bahrain racketeering suit, wants it dismissed
17. Rand weakens for a second day before EU summit on debt crisis
18. Russia`s loan fuelled consumption boosts GDP growth most since 2008- Russian credit
19. Hong Kong office rents may fall 40% on China hard landing- Barclays says
20. Euro zone struggles for final remedy to debt crisis as final package ‘fizzles’.
21. Europe stocks are little changed before Euro summit
22. Spain must opt for Finland`s cost of borrowing- Opposition Nadal says
23. Libya- end of Kaddafi paves way for Shariah Banks- Arab Credit
24. South Africa searches for alternative funding to avoid becoming debt ridden
25. Europe Bank loans 175% of GDP; recapitalizing Europe`s banks the priority in Brussels
26. RAJAT GUPTA to surrender to FBI today and face charges ( ex Goldman Sachs director)
27. KENYA may take alternative measurers to stabilize Shilling- Kenyatta says
28. Russia to sell $4 billion railcar fleet to competing billionaires- Freight
29. Crisis of 2012 may hurt China more than the US- says William Pesek
30. Hedge Funds bulk at new disclosure requirements at SEC, CFTC
31. Increasing firepower of EFSF due later today
32. First EU Nuclear project ditched after Fukushima leaves a $2 billion hole
33. BOEHNER demands Russia honour normal trade relations with Georgia
34. CORZINE`S MF Global Bonds now distressed debt, with bonds at 18% yield. Corporate finance
35. YINGLUCK warns of extensive flooding in Bangkok as water breeches barrier levels
36. Czechs don’t need Euro bond sale in 2011,finance ministry says
37. Hedge funds lose on the longest bet against the YEN in 2 months- chart of the day
38. Agricultural PUTS rise most in 4 years
39. Libya`s economy to contract more than 50% in 2011 after conflict- IMF says
40. GOLD SPOT $1714
41. Euro to US bank swap gap narrows on optimism of Brussels Summit
42. US economy very weak , recession repeat likely. Only tough leadership can save U.S economy- ISAACS
43. Turkey more than doubles overnight money
44. Investment Bank of Dubai, Brookfield plan development fund
45. Dubai ruler approves infrastructure projects over 2 billion Dirham
46. Namibia keeps its benchmark rate unchanged at 6%
47. FIFA opens investigation into 10 more Caribbean soccer officials
48. Xstrata drop makes record takeover by GLENCORE ‘win win’.
49. Kenya shilling drops most in 2 weeks on business dollar demand
50. Australia slowest inflation in 14 years fuels speculation of a rate cut next week
51. Italy. Berlusconi under pressure to quit by January
52. IAN STANNARD ( MORGAN STANLEY)- end Euro buy recommendation, Bearish longer term – see 1.25
53. Euro/ $ 1.3944
54. ITALY sells $10.5 billion bonds as borrowing costs rise- tests 6% level again
55. PEUGOT to cut 3500 jobs in a plan to restore automotive division profit
56. Iraq to ask OPEC to be included in quota system by 2014 as production rises
57. Ken Buckfire- Miller Buckfire CEO along with Harvey Golub- former American Swiss chairman- lots of talent leaving Wall street
58. US – almost $1 trillion of outstanding student loan debt for 6 million
59. EURO rescue chief goes to china as investors are sought
60. Deleveraging financial stability, Greek write downs, bank capitalization, large enough firewall Italy France- ECB decision tonight.
61. Danish banks seek to end short sale ban as capital flight hurts liquidity
62. APPLE, GOOGLE & AMAZON are the 3 global players
63. Amazon- Jeffrey Bezos founder, Chairman & CEO
27. October 2011 (Thursday)
1. South African budget risk deficit raises risk above Brazil.
2. Blanchflower: European deal is a start, but not enough
3. The EU Deal; $1,4 trillion boost with 50% haircut for Greece creditors
4. Economist Darda: Euro zone is doomed.
5. South Africa-Producer price inflation rises with depreciating Rand
6. Kazakh to issue the first foreign bond in 10 years and pave the way for the first Islamic bonds
7. U.S-Super Committee flirts with failure on U.S $1.2 trillion debt cut target NB
8. Corzine`s MF global on the ropes
9. Greece may nationalize some bank stakes on debt write down- Papandreou says
10. Europe economic confidence drops to the lowest in 2 years amid debt crisis
11. Fed refuses to disclose internal view ; traders see underlying significant risks
12. U.A.E home prices drop 10-30% as construction adds to glut
13. EU re-capitalization may threaten Eastern Europe lifeline.
14. Energy revolution may keep carbon on top;
15. Putin says the highest yields in a year after a 6 week absence– Russia credit
16. US debt reduction looms- deadline of $1,2 trillion in cuts due by 23 November 2011
17. Saudi Arabia joins Iran seeking $100 oil as output is cut NB!!!
18. FIFA receives $1.85 billion for the 2018, 2022 world cups
19. CORZINE copying Goldman Sachs , stock is down 54% as bet backfires
20. EU Banks need $147 billion extra to recapitalize under tougher rules by EBA
21. Europe bolsters crisis fighting tools and promises more later
22. S&P; opens at 1.6% higher, erases losses for 2011
23. Currency traders suffering worst year since 1991 as FX loses 18%
24. Abu Dhabi`s IPIC said to be selling Dollar Bonds maturing 2017 & 2022
25. Unbelievable Argentine inflation makes volatile vanish- Chart of the Day
26. Sovereign bond risk falls to a 2 month low on Euro debt deal
27. NETFLIX losses 800 000 subscribers- possible takeover target
28. SA stocks erase years decline on Euro debt deal led by BHP & Anglo
29. Norwegian STATOIL ASA makes U.S in roads NB
30. TUNIA ISLAMIST seek Shariah banks after election win
31. Sarkozy wins china support for EU rescue fund as Japan pledges support
32. Egypt rating cut to B1 from BA3 by Moody`s
33. EU recapitalization may threaten life line for Eastern European banks
34. UK- Fishers says BOE stimulus justified as economy is already shrinking
35. Namibia to sell EU 500 million launch bond to fund deficit
36. Forcing REPSOL to repatriate Dollars raises backfire risks. Argentina Credit
28. October 2011
1. Norwegian sovereign wealth fund sold out of all US mortgage assets
2. South African stocks close at a 6 month high
31. October 2011 (Monday)
1. Barclays core tier 1 ratio: 11%
2. Bloomberg probe into Iran firms
3. US has a raft of legislations against Iran
4. YEMEN airport closed on SAN`A after explosions; Syrian clashes kill 61
5. Barclays profit rises more than estimate even as investment banking unit trails
6. CHIN-X brings foreign competition the Australian stock market, the first time in 150 years
7. Hong Kong homes facing rising negative equity- Barclays
8. Royal Dutch Shell ‘very interested ‘ in Abu Dhabi onshore oil
9. GOLD SPOT $1714
10. YEN drops from record on Japan intervention; Azumi vows to intervene against’ speculative’ moves
11. Macquarie prepared to sell 22% in MAP at the right price
12. Colonel Saunders devours little sheep in China with a 69% gain
13. Cambodia long term credit rating cut by Moody`s on lower income
14. Vestas shares drop 24% after profit earnings forecasts drops
15. DRAHGI takes ECB helm ain battle mode as policy makers struggle with debt
16. SA credit growth slows in September to 5,5% as recovery falters
17. Barclays shares down 23,3% year to date
18. Corzine`s MF Global faces critical days as a sale or bankruptcy is considered
19. Danish Banks may shun $76 billion liquidity line to avoid funding stigma
20. ANVIL MINING says GENCAMINES review may put $10 billion MINMETALS deal at risk
21. Europe seeking crisis fighting funds
22. Europe may have blown its last chance to end its debt crisis- View
23. Junk bonds leading corporate debt in the best since 2010
24. Harmony says profit surge is 3 fold on higher gold price
25. Capital source enterprises, Wells Fargo, Citibank, BOFA – American bank stocks held by Guy Spiers of Aquamarine Capital (45% in Financials). Recommends: US financials. European banks mired in crisis.
26. OECD urges G-20 to work decisively to avoid an economic meltdown
27. U.A.E says that oil at $80-100 manageable
28. Uganda `s inflation rate climbs to 30,5% in October on higher food prices
29. MF Global shares trading halted
30. Bonds beating US stocks over 30 years for the first time since the 19th century
31. Europe`s Credit default swap bomb ready to explode- Buchanan
32. NY Fed suspends new business with MF Global
33. Tighter currency trading laws don’t stop the fall of PESO- Argentinean credit
34. Russia prepared to offer Europe $10 billion through IMF- Kremlin aid says
35. Europe may have blown its last chance to end Europe credit crisis.
36. Best stocks- technology & industrial in the US , Asia & BRICS with better returns than Europe, even if stocks are cheap and in the US likes, GE, Caterpillar, Deere, Oil service stocks, industrials- and Microsoft, IBM Biggs NB
37. Europe seeking crisis fighting funds as opposition rises before G-20 Cannes Meeting
38. JP Morgan`s Brazilian assets surge 40 % in 2 months after bond purchases- Brazilian markets NWO NB
39. Egypt Government activists set for showdowns on overseas loans- Arab credit NWO
40. Hedge Funds seek to get a 64% return on the soccer transfer market as clubs seek funding NB
41. Berlusconi stands defiant as Italy becomes the focus to meet austerity measures
42. Vestas plunges most in 3 years as earning forecasts are missed on margins & competition
43. U.S.- A $140 billion tab for crumbling bridges has small business meeting the tab
44. EU-Rescue plan risks unravelling as economy slides into slowdown- euro credit
45. DAELIM International gets 1.37 trillion won order for building in Saudi Arabia
46. US Utilities work towards restoring power to 3 million people after snow storm in the North East
47. MF Global suspended trading by the NY Fed unless it can prove it can act as primary dealer. Also, from doing new buisness
48. China online trading rises as the need for warehouses grows NB – Retail (The future -Freight & warehousing)
49, Nigeria central bank devalues NAIRA to 155-65 ; $
50. Intercontinental exchange limits MF Global trades to liquidating
51. China holds talks with VALE miners and iron ore
52. CME, Intercontinental limits MG Global trading to liquidation
53. Italian bonds retreat on Euro recovery concerns; Yen tumbles
54. Canada world`s worst for bonds returns as risk appetite raises
55. MF Global creditors: JP Morgan, Deutsche Bank
56. Kenya, Uganda
57. Islamic victory in Tunisia seen as a victory for democracy
58. YEN slides most in 3 years
59. UK Houses post 6 year decline as prices fall
60. Europe`s Credit default swap bomb is wired to explode
61. Junk bonds leading corporate bonds in the best month since 2010
62. Hedge funds bet on the oil spreads downwards on WTI-Brent
63. BIGGS boosts bullish bets on Technology & industrial
64. SA boost first trade surplus in 3 months with increased exports
65. MF Global files for bankruptcy Fidelity is the largest MF Global shareholder. – lists $41 billion in total assets & $39.7 in total debt . Not enough capital to have 2,5% leveraged 40 times and offer bonds at 6,25%
The ripple effect for financial institutions? MF Global had a 40: to 1 leverage ratio, which is unsustainable. They should have n leveraged by 6:1 NOT 40:1.Credit quality failure. U.S & Europe?
66. European stocks fall paring the best level since 2009
67. MF Global bankruptcy filing lists Fidelity Management 8.4%, Dorothy & Life 7,8%, JP Morgan & deutsche Bank Trustees action for nominees, Sullivan & Cromwell is referenced as a creditor and legal advisor
68. Berovsky takes Abramowich to court. Get Court docket from the Royal High Court
69. Bahamas credit rating downgraded from BBB+ to BBB by S&P;
70. Tighter trading currency controls cant stop Peso fall. Argentinean credit
71. Green Mountain PUTS at a 2 year high , with Einhorn shorting stock.- OPTIONS
72. UNESCO funding cut off from the US ( $60 m)as Palestine is admitted to group of Nations. Vote passed today, and Palestine reverts back to the 1967 territorial arrangement
73. Euro strangling for Credit with growth at the same time.
74. Iceland High Court approves final plan to pay out $11.4 billion payout to depositors