World economy talk

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Japan

Japan GDP Rebounds On Government Spending, Strong Domestic Demand - WSJ.com

TOKYO—Japan's economy grew an annualized 4.1% in the January-March quarter as resurgent domestic demand and government spending helped fuel recovery from last year's natural disasters and supply chain disruptions that suppressed growth.

The result beat expectations. Economists surveyed by Dow Jones Newswires had forecast that Japan's real, or price-adjusted, gross domestic product would expand 3.5% from the October-December quarter.

The GDP figures released Thursday by the Cabinet Office show that domestic consumption and government outlays for reconstruction from last year's earthquake and tsunami disaster is boosting the economy at a time of international vulnerability for export-dependent Japan as Europe's still unresolved debt crisis weighs on the global economy.

On a non-annualized basis, GDP expanded 1.0% in the first quarter from the fourth, according to the data.

One major driver of the first quarter expansion was public investment, or government spending, which grew 5.4% on quarter after having contracted in the two previous quarters.

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Bankia clients pull out over 1 bln euros -report | Reuters

May 17 (Reuters) - Clients of troubled Spanish bank Bankia, nationalized last week, have taken out over 1 billion euros ($1.3 billion)from their accounts since last Wednesday, El Mundo newspaper reported on Thursday citing information from a board meeting held yesterday and seen by the paper.

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talk Moody's to downgrade Spain banks

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Moody's downgrades 16 Spanish banks | Reuters

(Reuters) - Moody's Investor Service carried out a sweeping downgrade of 16 Spanish banks on Thursday, including Banco Santander, the euro zone's largest bank, citing a weak economy and the government's reduced ability to support troubled lenders.

[Monseratto]

Back in recession....

MADRID: Spain tumbled into recession and European stock markets and the euro fell Thursday as Greece installed a crisis government to tackle its crippling debt, EU leaders prepared for talks and analysts raised the spectre of a run on eurozone banks.

"Markets are worried about eurozone bank deposit runs and an escalating banking crisis," London-based VTB Capital economist Neil MacKinnon told AFP.

Heavy withdrawals of deposits have been reported in Greece and Spain, and top European Union leaders were to hold a videoconference later in the day.

They were initially to discuss an upcoming G8 meeting of industrialised countries but were now faced with a serious deterioration of the situations in Greece and elsewhere across the eurozone.

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US 10 yr yield

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Germany 10 yr yield below 1.4%!

[Monseratto]

Greece's foreign bank exposure looks miniscule compared to "too big too fail" Spain...

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facebook to begin trading at 11

Zuckerberg rings NASDAQ opening bell



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FB AT $70/SHARE IN GERMANY

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Greece's foreign bank exposure looks miniscule compared to "too big too fail" Spain...

what makes Spain dangerous are its banks

the banks have tons of bad loans

the govt will have to bail out the banks when they start failing

then the govt will have to be bailed out

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i'm watching Spanish bank CatalunyaCaixa

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11:05 FB starts trading

update: not yet

update:

Nasdaq: Says Will Update Traders On Facebook IPO, Trading Yet To Begin - DJ

what the hell is wrong with nasdaq

update:

NASDAQ shares dropping as traders await open of #FacebookIPO.

hahaha

update:

NASDAQ says delay in delivering opening print on Facebook.

update: FB begins trading. opens at $42.05

update: $38

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FB closed at $38.23

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bankers prevented the price from falling below $38

look at the size of $38 bids (left side) at various exchanges (BATS, Arca etc) compared to the size of offers (ask -- right side)

[Monseratto]

Mabuhay ang Bagong Kasal!!!



And no, Priscilla Chan has not an inch of pinoy in her... Chinese-American.

Zuckerberg and 27-year-old Priscilla Chan tied the knot at a small ceremony at his Palo Alto, Calif., home Saturday, capping a busy week for the couple.

Zuckerberg took his company public in one of the most anticipated moves in Wall Street history Friday. And Chan graduated from medical school at the University of California, San Francisco, on Monday, the same day Zuckerberg turned 28.

The couple met at Harvard and have been together for more than nine years.

A company spokeswoman said Zuckerberg designed the ring featuring "a very simple ruby" that he designed himself.

The ceremony took place in Zuckerberg's backyard before fewer than 100 guests, who all thought they were there to celebrate Chan's graduation.

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^^

buti nalang he wore a suit

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re JP Morgan

JP Morgan losses already at 3 billion and counting

could reach 5 billion

[Monseratto]

Being the biggest banker to the US gets certain priveleges...

Exclusive: U.S. lets China bypass Wall Street for Treasury orders | Reuters

Exclusive: U.S. lets China bypass Wall Street for Treasury orders

NEW YORK | Mon May 21, 2012 3:35pm EDT

NEW YORK (Reuters) - China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government, according to documents viewed by Reuters.

The relationship means the People's Bank of China buys U.S. debt using a different method than any other central bank in the world.

The other central banks, including the Bank of Japan, which has a large appetite for Treasuries, place orders for U.S. debt with major Wall Street banks designated by the government as primary dealers. Those dealers then bid on their behalf at Treasury auctions.

China, which holds $1.17 trillion in U.S. Treasuries, still buys some Treasuries through primary dealers, but since June 2011, that route hasn't been necessary.

The documents viewed by Reuters show the U.S. Treasury Department has given the People's Bank of China a direct computer link to its auction system, which the Chinese first used to buy two-year notes in late June 2011.

China can now participate in auctions without placing bids through primary dealers. If it wants to sell, however, it still has to go through the market.

The change was not announced publicly or in any message to primary dealers.

The privilege may help China obtain U.S. debt for a better price by keeping Wall Street's knowledge of its orders to a minimum.

Primary dealers are not allowed to charge customers money to bid on their behalf at Treasury auctions, so China isn't saving money by cutting out commission fees.

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Being the biggest banker to the US gets certain priveleges...

Exclusive: U.S. lets China bypass Wall Street for Treasury orders | Reuters

from the article:

The privilege may help China obtain U.S. debt for a better price by keeping Wall Street's knowledge of its orders to a minimum.

it's coz China is such a large buyer that when they place orders thru primary dealers everybody finds out they're buying so bond prices are driven up

being a direct bidder allows China to buy secretly to get better pricing

[boybi]

Mabuhay ang Bagong Kasal!!!

And no, Priscilla Chan has not an inch of pinoy in her... Chinese-American.

Are you sure?

Baka her parents conceived her while they're in vacation somewhere in the Phils.
Or nag connecting flight sila from sa NAIA from China to the US, sasabihin ng ABSCBN: "magulang ni Priscilla, umapak ng pilipinas bago humantong sa estados unidos!" :bwahaha: