News Brunch, brought to you by Fibozachi’s Chopshop
A healthy smattering of today’s "news", fit for digital consumption.
‘News’ ‘o the day
China Approves Stock Index Futures, Margin Trading, Short Sales (Bloomberg) ~ a left hook to Chanos’ credit concerns / valuation
Swiss Regulator Broke Law on UBS Client Disclosure, Court Rules (Bloomberg) ~ and a right cross to Lady Justice’ gut
CFTC To Hold Open Meeting On A Proposed Position Limits Rule (Mondo Visione) ~ (CFTC) will hold a public meeting on Thursday, January 14, 2010, to consider issuance of a proposed rule on energy position limits and hedge exemptions on regulated futures exchanges, derivatives transaction execution facilities and electronic trading facilities … Phibro and J. Aron gulp hard
Swiss court fines speeding millionaire $290,000 (AP) ~ and you thought you were pissed about 2 points on your license
Report: MLB, Japan champs could play (ESPN) ~ The United States and Japanese baseball champions could meet in a Global World Series
Bloomberg
Merkel’s Poll Rating Falls to 3-Year Low on German Job Concerns ~ what will BO be doing the day after the 2013 inauguration
China CSRC Confirms It Has Approved Margin Trading ~ credit bubble placed into warp-speed overdrive
London’s Investment Banks Double Pay to Lure Back City Talent ~ main street cringes
Microsoft Introduces Touch-Screen Tablet Computer ~ take that Jobsie
Even $4.9 Trillion Doesn’t Ensure Respect Today: William Pesek ~ where is Japan Post when ya need it?
Turner Plan on ‘Socially Useless’ Trades Make Bankers See Red ~ Marx rolls over in grave
Rand Falls for First Week in Three as Gold Price, Reserves Drop ~ precious metals at make-it-or-break-it technical levels
U.K. Producer Prices Jump More Than Twice as Much as Forecast ~ inflationary fears fully stoked
China Mobile Fires Vice Chairman for ‘Irregularities’ ~ hello moto
Europe’s Jobless Rate Unexpectedly Hits 11-Year High ~ unexpectedly, really?
Seven Killed in Karachi Explosion, Foreigners Ordered to Leave ~ vaca in karachi ends abruptly
Societe Generale Plans to Group Risky Assets Into French Unit ~ wonders who the next nick leeson will be
Eurostar Limits Channel Tunnel Trains Amid Cold Snap ~ it be cold & snowy
China Braces for More Snow as Freeze Hits Northern Hemisphere ~ it’s frickin freezing everywhere but the equity / commod / HY landscapes
Corn, Wheat Extend Losses on Declining U.S. Crop Export Sales ~ POT-luck n friends been smoking wacky tobaccy
Iceland President Lambastes Fitch for Giving Island Junk Grade ~ heelarious ensues
European IPOs May Triple as Private Equity, States Plan Sales ~ Europe takes a hit from the crack-pipe of hype
Iran Opposition Chief Karrubi Unhurt After Attack, Web Site Sayy ~ please see: A Zero Hedge Premium Preview: The Dionysian Rites of Henry Kissinger’s CIA and the Iranian Revolution of 2010
F1’s Ecclestone Joins Genii Capital in Bid for Saab ~ ISCA short-covers aside, NASCAR still shriveling like Tiger’s mktg image. TM still kicking ass n taking names.
House May Tax Payrolls, Drop Wealth Levy to Finance Health Plan ~ surely it’ll all work out well enough for gov’t accounting
Geithner’s Fed Told AIG to Limit Swaps Disclosure ~ but what about the sun? will it rise tomorrow?
Mondo Visione
SGX Extends Derivatives Trading Hours As International Demand For Asian Equity Derivatives Grows ~ (SGX) is extending its (DT) hours for contracts with T+1 sessions
New Exchange Traded Funds (ETFs) On SIX Swiss Exchange ~ yet another harbinger / product of an Intermediate top in bullion
Tokyo Stock Exchange: Revisions To The Index Guidebook With Regard To Stock Transfers, Etc. ~ TOPIX calculation will remain unchanged
NYSE Euronext Announces Trading Volumes And Other Metrics For December 2009 – European Derivatives Trading Volumes Increase 40.8% On Stronger Interest Rate Product Volumes Versus Prior Year – NYSE Group U.S. Equity Options Volumes Increase 92.2% With Market Share Of 24.9% ~ umm, about where all "the volume" went
CHX Announces New Fee Structure ~ institutions saved another few bps here n there
CFTC To Hold Open Meeting On A Proposed Position Limits Rule ~ (CFTC) will hold a public meeting on Thursday, January 14, 2010, to consider issuance of a proposed rule on energy position limits and hedge exemptions on regulated futures exchanges, derivatives transaction execution facilities and electronic trading facilities … PhiBro and J. Aron gulp hard
Federal Reserve Board Advises Institutions Of Supervisory Expectations For Sound Practices In Managing Interest Rate Risk ~ FRM’s & PRMIA’s hit the snooze bar
Program Trading Averaged 31.3 Percent Of NYSE Volume During Dec. 28-Jan. 1 ~ all’s well that ends well
Wiener Börse Monthly Statistics – December 2009 ~ higher
European Central Bank: Summary Of A Workshop On Recent Advances In Modelling Systemic Risk Using Network Analysis ~ literally, nothing to see here
EMXCo Implements Further Price Reductions After An Impressive 2009 ~ message volumes through the EMX Message System increased 32% to 30 million in 2009
TSX Venture Exchange December 2009 Market Statistics ~ up
Thomson Reuters MiFID Market Share Reports December 2009 ~ up
HKEx Monthly Market Highlights – December 2009 ~ and AWAY
Japan’s Financial Services Agency: Administrative Actions Against Korea Exchange Bank, Japan Branches ~ cha-cha-change ….
New CDP Report: Greenhouse Gas Reduction Targets Set By FTSE 100 Carbon Intensive Sectors Fall Far Short Of Reductions Required By UK Climate Change Act ~ whoda thunk it? T. Boone, Aubrey McClendon and GSCO rejoice
HKEx: Exchange Participants Statistics – On-floor and Off-floor Trading Statistics December 2 ~ interesting
Punjab National Bank Granted License To Operate From DIFC – DIFC Is Strategic Base For Bank’s Middle East And Africa Operations ~ more credit; just what duh-bye-bye really needs
Sanction Commission Of SIX Group Ltd Fines Global Natural Resources Holding Ltd. ~ the AAPL and GOOG BoD’s have a hardy chuckle; Patrick "yuck-yuck" / "Hannibal" Byrne of Deep Capture continues to scream at the wall
Summary Of December 2009 Activities At Tokyo Commodity Exchange ~ up
ELX Futures Announces 2009 Results ~ UP
Speech By CFTC Commissioner Michael V. Dunn Before The 55th Annual Beltwide Cotton Production Conference, New Orleans, Louisiana ~ and waking the F up, rather quickly
NYT
Contrarian Investor Sees Economic Crash in China ~ NYT – Chanos playing Darth Vader; making waves
To Slow Growth, China Raises an Interest Rate ~ NYT – Uncle Ben & Co. chuckle
RANsquawk
BOE says will hold extended-collateral 3-month repos until new operation introduced later in 2010 ~ To offer GBP 5bln of 3-month funds at repo on January 12 … interest rates remain at all-time-lows within the Kingdom
China bank regulator denies report that it has raised downpayments on 2nd-home buying ~ Chinese mortgage clerks sware they know the secret code to the 99th level of Bubble Bobble
France Telecom (FTE FP) agrees alliance with LG Electronics ~ and the LG chaebol further expands
Fed’s Bullard says US inflation remains low, though, inflation uncertainty higher than it has been ~ thanks, Opie
French PM Fillon says currency relations must reflect economic fundamentals more ~ must? or ought?
