How Curiosity belled the CAT!
In this case President Obama, earning the day’s brownie points yesterday from congratulating the crew of the rover mission Curiosity that landed on another mission to Mars. Though the fiscal cliff looms ahead, space age may not have rolled on the United States just yet and NASA budgets remain intact along with new space exploration budgets in India and China for the moon and the Mars and maybe the sun and you and I.
Then the europeans ran with the baton, the games having pushed up the GDP
The Olympics ended a grand success and groth returned ont he continent, frenchmen celebrating a 1.8% Y/Y contraction in GDP as it meant a positive fraction in Q@ GDP growth and Germans managed a Y/Y growth of 1% meaning the Euro need not break ne targets before liquidity season to buoy up the markets and keep Spanish yields below 7%. Though some already aver and we concur that the Spanish ill see a yield event of higher than 8% before the river flows.
And July finally sees consumers coming back (for more)
After a dismal Q2 , each month worse than the previous one, the retail sales data followed on the better credit report for Americans with a 0.8% growth in retail sales for the month and auto sales were not lower at all though Gas sales removed from the retail sales meant an even higher growth number
And that means Gold and Treasuries are selling off
Bad eather friends for global investors US Treasuries and Gold finally sold off on the good news signifying end to the questions of more QE while equities did not, that means they still want more QE Peregrine and Kngiht Capital nursing their wounds in new regulation after having disemboweled $300-$400 mln each in one fateful evening and survived (Peregrine is headed for Bankruptcy court incl property in Cedar Falls) Also means the Oil sell off is here, Iran or no Iran and Dubai, Qatar and Abu Dhabi are stil in the hunt ith China Investment Corporation and GIC of Singapore for good global Scalps for the night in the cave up ahead.
And that’s it boys, you can forget Sports, Groupon and Facebook
You indeed can. Imminently forgettable results from Groupon put back pressure on barely digital Facebook as they can not survive mobile and Manchester United valuations or the return of more exotic snacks to Dodgers stadium also look unlikely to save the big all spent Sports teams with PE now learning enough to do closet deals(with other PE) and Merrill belonging to a Swiss Bank to share the spoils of the hole in the vault with old but not good old BofA!
- CHART OF THE DAY: Retail Sales Growth Is Freefalling, And Goldman Has Slashed Its Q2 GDP Number(businessinsider.com)
- Gary Shilling: US in Recession Now or Within 3 Months, Deleveraging Will Take 5-7 More Years(safehaven.com)
- QE3 Will Increase Oil Prices and Decrease Economic Growth(valuewalk.com)