Daily Archives: May 7, 2014

ZeroHedge – Yellen Testifies In Congress – Live Webcast – 7 May 2014

ZeroHedgeIn a few short minutes, Fed Chairmanwoman Janet Yellen will hold the first part of her two-day testimony in Congress before the Joint Economic Committee (followed by testimony before the Senate Budget Committee), in which she will regale members of congress with tales about harsh weather in the first quarter, and who snow managed to subtract over $50 billion from the US economy in Q1. Yellen’s prepared remarks will likely focus on the FOMC’s broader views on the economic outlook, but the Q&A will be equally as important. It is possible she may be asked by Senate Committee members for more clarity on the Fed’s exit strategy and/or its view on the terminal funds rate. It is unlikely that she will say anything too market moving, especially since Goldman has schooled her how to avoid any “firm” calendar commitments of the “6 month” variety.

Read the full story and see live webcast at: www.zerohedge.com / link to original article

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ActivistPost – Tony Cartalucci – Syrian Conflict: The Battle For Homs – 7 May 2014

Logo_activistpost-comSyrian forces have edged closer to restoring order across the pivotal Syrian city of Homs in recent weeks, in tandem with other major gains being made across the rest of Syria. Encircled and depleted terrorist forces appear demoralized and have even begun turning on one another as attempts by their foreign sponsors to regain the initiative have failed utterly in both diplomatic and strategic terms.

Read the full story at: www.activistpost.com / link to original article

ZeroHedge – Putin “Talks” Spark Another De-Escalation-Fueled Hope Bounce In Stocks – 7 May 2014

ZeroHedgeForget POMO, today’s market is all about FOMO – fear of missing out – when Ukraine is ‘fixed’ and new newer-er highs are achieved. All it took this morning to lift S&P futures 8 points was a headline that:

  • PUTIN, OSCE HEAD BURKHALTER TO DISCUSS UKRAINE CRISIS

USDJPY responded instantly, as did bond yields (higher) and gold (lower) as it’s clear that everything will be fixed now. Of course, the Geneva “de-escalation” lasted 1 days; this latest “diplomacy” should last hours if not minutes, but for now the high freaks are delighted and upward momentum has been restored.
Read the full story at: www.zerohedge.com / link to original article

 

 

ZeroHedge – Frontrunning – 7 May 2014

  • ZeroHedgeAlibaba files for what may be biggest tech IPO (Reuters)
  • Early Tap of 401(k) Replaces Homes as American Piggy Bank (BBG)
  • Developers Turn Former Office Buildings Into High-End Apartments (WSJ)
  • Thai court orders Yingluck Shinawatra to step down as PM (Guardian)
  • German industry orders fell 2.8% in March, the biggest drop in one and a half years (RTE)
  • Ukraine Bulls Scatter as Death Toll Mounts (BBG)
  • China Property Slump Adds Danger to Local Finances (BBG)
  • Stein Says Fed May See Bouts of Volatility as It Approaches Exit (BBG)
  • Junk-Bond Traders Pile Onto Hedges Amid Fed After Rally (BBG)
  • Pimco’s bad bets on emerging markets add to firm’s troubles (Reuters)
  • Alibaba Partners Keep Control After Shunning Hong Kong for U.S. (BBG)
  • Fat-Destroying Machine Doubted by Stock Traders (BBG)
  • Encana to Buy Eagle Ford Shale From Freeport-McMoRan for $3.1 Billion (WSJ)

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John Ward – All Quiet On The Western Front: Glum In Britain, Frightened In Germany, Reactionary In The States, All Quiet on the Western Front: Glum in Britain, frightened in Germany, Reactionary In The States, Content In South Africa – 7 May 2014

ScreenHunter_35 May. 07 13.19This shot was taken in the House of Commons about twenty minutes ago (12.04 pm BST). If one had a suspicious nature, one might be forgiven for thinking that things are not quite as rosey as we’re being led to believe. Clockwise from the left, these chaps are responsible for the Realm, the Tory Manifesto, Defence and the Money. Defence Minister Philip Hammond, however, does – I’m sure you’ll agree – have a rather fetching arrowhead grip in his hair….about which I think we should be told more. Continue reading

TheIndependent – David Blanchflower – Garbage In, Garbage Out: Our Jobs Figures Are Not Working Any More – 7 May 2014

The Independent

It is very hard to work out what is going on in the UK labour market because the quality of the statistics is basically junk – garbage in, garbage out describes the lack of quality of the data well. I really am not exaggerating.

Read the full story: www.independent.co.uk / link to original story

‘Both Presidential Elections And Donbass Referendum In Ukraine Should Be Postponed’ – 7 May 2014

RT logoNeither the Ukrainian presidential elections, nor the May 11 referendum on the future of the Donbass People’s Republic, can take place at the moment because of the absence of the proper atmosphere, Jonathan Steele from The Guardian newspaper told RT.

RT: Russia doesn’t support the idea of holding presidential elections in Ukraine. Indeed, we can witness the ongoing violence, voices of the southeast regions are suppressed by force, while it is highly possible that ultranationalists will gain in the elections. What’s your take on that?

Jonathan Steele: I do follow this argument. I think the presidential elections cannot take place at the moment in the proper atmosphere. They won’t be held properly in the south and east of the country. And anyway, the two leading candidates both represent essentially the West of the country, so there will be a quite divisive new president. Similarly the referendum on May 11 about the future of the Donbass People’s Republic is also unwise to be held in a similar environment of tension and emotional anxiety. Both should be postponed.

Read the full story at: www.rt.com / link to original article