trading recap

They expelled three US diplomats. From Caracas. For sabotaging the economy. As if Venezuela didn’t have enough problems. Their stock market fell 2.9%. And in poor Brazil, Moody’s first downgraded the nation, then Petrobas. As that state-owned oil company encounters weak demand by foreign bidders for over-hyped off-shore drilling rights. Eike Batista, saboteur extraordinaire, dyed his wig a darker shade of grey, snuck

Ben sank his toes deep in the mud. Wiggled ’em around. Picked up a dirty oval stone. Rubbed it clean. Skipped it. Drifting back to his youth. Glorious youth. Without a care in the world; long before he made his big splash, launched his experiment, bought time for the kids in DC. “One could cut monthly purchases for each further 10bp decline in unemployment,” suggested Fed Governor Stein, secretly hoping the pre

Week-in-Review: Mon: Summers withdraws from Fed race, US/Russia agree on Syria plan, India inflation 6mth high, US IP +0.4% (+2.7% yoy), Cap Util 77.8%, NY Empire -2pts to 6.3, S&P +0.6%; Tue: China FDI falls -0.6% yoy (Jan-Aug FDI +6.4%), RBA retains easing bias, German ZEW 30.6 (9mth high), EU exports firm, UK CPI +2.7 yoy (core 2.-%), US CPI 1.5% yoy (core 1.8%), NAHB homebuilder  sentiment 58 (Nov ’05 h

Helicopters raced across Kazakhstan. To the scene. Carrying medics. Who leapt out, ducked low, ran across the swirling grass, and gently pulled three men from the crash. One American, two Russians; Cassidy, Misurkin, Vinogradov. Gently placing their weakened bodies into reclining chairs, for swift evacuation, evaluation. You see, in outer space there’s no gravity. And these boys had been orbiting 258 miles above eart

Who doesn’t love surprises? Particularly the predictable ones. Which is why Putin is so utterly boring. I mean, of course he was going to support Assad. Face it, with each escalation in Syria, the prospect for Middle-East stability falls in direct proportion to the rise in oil prices (Knightsbridge property too). And the only thing that makes Putin happier than semi-nude fly-fishing with his posse of paparazzi, is a

Oh Shiite. Assad crossed the line. And our British brothers blew us off. So now we got to support Syrian Sunni’s solo. Worse yet, the French want in on the action. And everyone knows Washington and Paris suck at siding in civil wars. “There is no doubt Iraq has raised the bar on skepticism,” announced Jack Straw, UK Foreign Secretary from 2001-06, lifting the lid on the West’s latest crisis: our crisis of credi

Week-in-Review: Mon: Chinese new home prices +7.5%, China to expand broadband network, Japan Jul exports +12.2% (Jun +7.4%) imports +19.6% (prev 11.8%) trade deficit Y1trln, Brazil buys more dollars, S&P -0.6%; Tue: South-East Asian stocks tank ahead of Fed Minutes (Indonesia -5%), Nikkei -2.6% (near 2mth lows), EU & US quiet, S&P +0.3%; Wed: Kuroda backs sales-tax hike, new Fukushima leaks, India Central

Week-in-Review: Mon: Japan Q2 GDP 2.6% (Q1 3.8%), Der Spiegel “Greece will need more aid after German election,” Mexico’s Nieto to open oil industry, S&P -0.1%; Tue: Japan machine orders -2.7%, Abe calls for lower corp taxes, India hikes gold/silver/platinum import duties, Aussie NAB biz survey -7, US retail sales +0.2%, S&P +0.3%; Wed: Egypt crackdown, Chinese July power output +8.1% (1yr h

Week-in-Review: Mon: China service PMI 54.1 (first acceleration since March), Japan service PMI 50.6 (prev 52.1), Aussie retail sales weak, Iran’s Rohani pledges moderation, EU composite PMI 50.5 (first >50 since Jan 2012), EU retail sales -0.9% yoy, UK service PMI surges 60.2, US extends embassy closing over terrorist threat, US service ISM 56.0 (Feb highs), bank lending standards ease, S&P -0.1%; Tue: