World economy talk

[Monseratto]

CitiGroup post $7.6 billion loss in 4th quarter...due to repayment of gov't TARP fund. They don't want the gov't meddling in its affair.

[tidus1203]

Wow di talaga makapaniwala the once mighty Citigroup now just a cheap change... Dati $60 yan and that wasn't a long time ago nag trade na ako nun...

IBM earnings later, that I am sure will be good!

[uls]

word for the day:

expropriation

wiki:

Expropriation is the confiscation of private property with the express purpose of establishing social equality.

this is what happens when you screw investors

this is what happens when you keep expropriating private companies' assets

Venezuela natural gas auction closes with no offers
http://www.reuters.com/article/idUSN...pe=marketsNews

CARACAS, Jan 18 (Reuters) - Venezuela's Mariscal Sucre project, which has estimated reserves of 14.7 trillion cubic feet of gas, has failed to attract private interest after the government invited firms to make offers last week.

Offers were to be made on Friday until midnight.

The government this month improved the conditions it was offering companies to help develop the project, but in the end nobody came forward, private sector sources close to the process said on Monday.

[tidus1203]

Yeah let the commies all rot in hell... Wala ng perang papasok dyan kasi mga commies gusto pantay pantay. Di naman realistic yun! No greed, no prosperity!

[uls]

EUR/USD 1.4225

blame Greece

[uls]

USD index




DXY testing resistance

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the EMU has a huge headache called Greece

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watch FX land

right now, this is where the action is

[uls]

Greece credit default swap

[tidus1203]

Meron bang RP default swaps?? Taas na din budget deficit dito utang na lang ng utang ang gobyerno to just finance their shortages...

[uls]

http://in.reuters.com/article/compan...BrandChannel=0

FIVE-YEAR CREDIT DEFAULT SWAPS

Bid/Ask spread

Current Week ago

Korea Dev Bank 96.53* 81.00*

Hutchison 70.2/73.8 64.00*

PCCW-HKT 84.15* 90.00*

China 68.98/72.52 62.00*

Indonesia 184.60/194.07 181.25*

Korea 87.85/92.35 76.00*

Malaysia 87.26/91.74 81.75*

Philippines 164.13/172.54 163.75*

~no bid or ask

*midspread

^^^ according to that, the Phils. is riskier than Malaysia, Korea, China

[uls]

news that moved markets in Asia this morning

China’s GDP Growth Accelerates to Fastest Since 2007
http://www.bloomberg.com/apps/news?p...ylTc9ntU&pos=1

China's economy expands 8.7% in 2009, exceeding target
Rapid growth, higher prices suggest policy tightening coming
http://www.marketwatch.com/story/chi...teid=rss&rss=1

China on Path to Become Second-Largest Economy
http://www.nytimes.com/2010/01/21/bu...er=rss&emc=rss

INSTANT VIEW: China Q3 GDP growth rises to 8.9 percent
BEIJING (Reuters) - China's economy finished 2009 with a flourish as a 10.7 percent year-on-year increase in fourth-quarter GDP took full-year growth to 8.7 percent, easily surpassing Beijing's 8 percent target.

China growth quickens, points to tighter policy
BEIJING (Reuters) - China easily beat its 2009 growth target after a blistering performance in the fourth quarter that forms a powerful springboard for it to jump over Japan this year to become the world's second-largest economy.

[Monseratto]

and to think Google wants to dictate its terms to the Chinese. Google needs China, not the other way around.

[tidus1203]

Yeah! Google needs China more than China needs Google. China has BAIDU anyway so to hell with Google. In fact everyone needs China even Uncle Sam. Eh kung si Uncle Sam nga kailangan si China mga private companies pa kaya?

[uls]

USD/JPY 89.81

NYMEX crude 75.77

USD index

[Monseratto]

And to thinnk the oil companies only rollbacked 25 cents so far...

[uls]

Obama stole the show last night

11:37 01/21 OBAMA PROPOSES WIDER LIMITS ON NON-DEPOSIT FUNDING SOURCES

11:37 01/21 OBAMA BAN WOULD PREVENT BANKS OWNING,INVEST IN HEDGE/EQ FNDS

11:37 01/21 OBAMA PROPOSING RULE LIMIT COMM BANKS FROM PROP TRADING

11:37 01/21 OBAMA:WANT BAN BANKS FROM OWN,INVST,SPONSR HF,PRIV EQTY FNDS

11:37 01/21 SR ADMIN OFFL: NOT PROPOSING RETURN OF GLASS-STEAGALL ACT

11:37 01/21 ADMIN OFFL: AUTH TO PREVENT RISKY BEHAVIOR ALREADY IN HSE BILL

11:37 01/21 ADMIN OFFL:INAPPROP BANKS PROFIT WHILE SUBSIDIZED BY TAX PAYER

11:37 01/21 SR ADMIN OFFL: PROPOSALS KEY TO DEALING W/TOO-BIG INSTITUTIONS

11:37 01/21 SR ADMIN OFFL: WANT CONGRESS TO ADD PROPOSALS TO REFORM PACKGE

11:37 01/21 SR ADMIN OFFL:BAN ON PROP TRADE ALSO APPLY TO BANK HOLDING COS

11:37 01/21 ADMIN OFFL:WANT REGULATORS TO BE REQUIRED TO STOP PROP TRADING

11:37 01/21 SR ADMIN OFFL: WANT TO PREVENT EXCESSVE CONCENTRATN IN FIN SYS

11:37 01/21 SR ADMIN OFFL: WANT BANKS TO FOCUS ON CORE BUSINESS, LESS RISK

11:37 01/21 SR ADMIN OFFL: WANT TO 'DISINCENTIVIZE' USE OF RISKY LEVERAGE

11:37 01/21 OBAMA:WANT BROADER LIMITS ON LIABILITY MKT SHARE EXCESSV GRWTH

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Stocks tumble as Obama takes on banks
http://www.ft.com/cms/s/0/15842076-0...nclick_check=1

21:50 GMT. Stocks dropped sharply on Thursday as President Barack Obama said he intended to prevent deposit-taking banks from undertaking any proprietary trading.

The president said he wanted to end the mentality of “too big to fail” in financial markets. “If the banks want a fight, it’s a fight I’m willing to have”, he added.

The FTSE Global Banking index fell as much as 2.7 per cent and the S&P 500 plunged 2 per cent as investors feared the proposal would batter investment banking earnings and signalled the administration was getting increasingly tough with Wall Street. US stocks pared their losses slightly in afternoon trading and the market closed down 1.9 per cent.

Shares in Goldman Sachs, the investment banking bellwether reversed an initial 2 per cent advance on stronger-than-forecast headline earnings, to fall 4 per cent.

[uls]

And to thinnk the oil companies only rollbacked 25 cents so far...

i think this will trigger further rollback

nag rollback sila konte when oil fell to below $78

this time malaki ang binaba ng oil -- from a bit above $78 last night to below $76 this morning

[Monseratto]

Obama take a hint from Hugo Chavez... Anything to prop up his sinking popularity.

NEW YORK – Stocks suffered their worst one-day percentage drop since October on Thursday as US President Barack Obama proposed tough restrictions on banks that would squeeze profits.

Major banks slid, with Goldman Sachs falling 4.1% despite posting stronger-than-expected fourth-quarter results, and JPMorgan Chase & Co (JPM.N) shed 6.6%, after Obama proposed limiting how banks invest their own money

[tidus1203]

Obama is a ONE TERMER. I am willing to bet on that!

[uls]

global selloff continues

today:

Hang Seng -2.91%

Nikkei -2.79%

China -2.52%

Korea -2.82%

Singapore -2.05%

[Monseratto]

The drop continued for another day. Will it fall below the 10,000 pt level?

NEW YORK (AP) -- The stock market suffered its worst setback in more than 10 months this week as investors decided no matter what the news, it must be bad.

The Dow Jones industrial average slid 216 points, or 2.1 percent, on Friday its fourth big drop in five trading days. Wednesday-Friday, the Dow lost 552 points, or 5.2 percent. All the major indexes fell more than 2 percent Friday.

Oil breaks the US 75/bbl level. NYMEX Crude 74.23. Still no rollback announcement...