IDS World Markets Fri 9th May 08

[aussiebear]

 

 

 

 

 

 

 

 

 

http://finance.yahoo.com/intlindices

[aussiebear]

 

 

http://money.cnn.com/markets/morning_call/

 

 

 

 

 

 

 

http://www.kitco.com

 

Energy futures

 

Currencies/Au/Ag

[aussiebear]

 

 

A semi-bullish day. All Ords initially followed the US action but now has an eye to Asia. Currently the index is +0.6% with Financials and Miners leading the way, both +1.4%. There's a sprinkling of reds; Consumer Staples is down the most, -1.2%.

 

Miners are looking reasonably zippy: BHP +2%, RIO +0.8% and in the golds, Newcrest +2%, Newmont +4.2% and Lihir +2.3%. Juniors mixed.

 

Oils not doing a lot: Woodside +0.9%, Santos -0.3% and Caltex +1.8%.

[cwd]

Doc, I hope you read the late night posts on M2M regarding public service salaries in Kali.

Also the pensions are figured on the best 2-5 year average salary, thus if you can game the system for several of your final years, you can retire at 45 or so on full salary plus an inflation cost of lviing benefit every year. Good work if you can get it.

[aussiebear]

 

 

Looks like we decided to ignore Asia and continue on our merry way. All Ords closed +0.7%, off the highs but still a respectable gain. Miners, +2.2% and Materials, +2% were clear leaders with Financials next at +1.5%. Consumer Staples, Health and IT were at the other end, all -1%.

 

BHP had a big day, +3.4% and RIO had a far more modest gain, +0.8%. Golds ended up doing well: Newcrest +1.6%, Newmont +3.5% and Lihir +2.7%. Juniors mixed.

 

Oils looked a bit down and out: Woodside -0.1% and Santos -2.2%.

 

Asia seeing considerable losses: Nikkers -2.1%, China -1.5%, Honkers -1.4% and South Korea -1.3%.

 

 

Over to UK/Europe:

 

 

 

 

 

http://finance.yahoo.com/intlindices?e=europe

[aussiebear]

Australian Central Bank Raises Inflation Forecast

 

May 9 (Bloomberg) -- Australia's central bank raised its inflation forecast and said economic growth will slow as consumers reduce spending amid record gasoline prices and the highest borrowing costs in 12 years.

 

There ``is evidence that demand has slowed, but it will take some time for this to have a substantial impact on inflation,'' the Reserve Bank of Australia said in its quarterly policy statement released in Sydney today. Inflation will peak late this year at 4.5 percent before falling below the bank's 3 percent limit in 2010.

[aussiebear]

The Western Australian state budget is out and about now. Stamp Duty costs paid by a property buyer at point of sale have been reduced which might keep the RE cycle going a smidge longer. The new stamp duty comes into effect July 1.

 

 

 

http://www.news.com.au/perthnow/story/0,21...553-948,00.html

 

 

Locally, RE has gone a bit quiet with anything overpriced sitting. I'm seriously thinking of selling before the end of the year and renting. The principal from the sale would bring some very nice income with interest rates the way they are...

One problem is the lack of rentals available but that could change.

[briarberry]

UK housing slump continues to worsen...

 

Repossessions hit near 1990s peak

Dearbail Jordan and Frances Gibb, Legal Editor - May 9, 2008

 

Home repossession orders are nearing the level last seen in the recession of the early 1990s after rising by 16 per cent in the first quarter of this year.

 

The Times

[BusKow]

Over the last several years, they have steadily upgraded their standard of living with every pay increase, even though they weren?t able to afford the current standard of living they had. The marital problems from the stress over money caused a lot of sleepless nights for both of them? and for my husband and I.

 

Enabling the Perpetually Poor

[BusKow]

Fed's Trashuries

[Jetlag]

This is getting out of hand, we urgently need central banksters around the world doing some serious EMERGENCY RATE HIKES to curb commodities.

 

 

WE NEED THE VOLCKER BACK

[DrStool]

did someone say hypertiger ?

http://hypertiger.blogspot.com/

 

what is this stuff??

661616[/snapback]

 

 

She's not hypertiger, but she writes hyperlong posts, that's for sure. Maybe she's thinks she's channeling hypertiger and that that gives her the right to use his moniker.

[briarberry]

bank disclosures - I don't expect we'll hear the truth, this will probably be just another chance for them to say that everything is alright. And force the start another short covering rally.

 

 

May 7 (Bloomberg) -- The U.S. Securities and Exchange Commission will require Wall Street investment banks to disclose their capital and liquidity levels, after speculation about a cash shortage at Bear Stearns Cos. triggered a run on the firm, SEC Chairman Christopher Cox said.

 

The disclosures will be ``in terms that the market can readily understand and digest,'' Cox said today during a speech in Washington. The SEC will require the disclosures ``later this year,'' he said.

[DrStool]

Fed's Trashuries

661637[/snapback]

 

 

A lot of people don't believe that the Fed is actually reducing the size of the monetary base. This is a story I have been chronicling every day. Yesterday's action was a giant exclamation point.

 

The part about the Fed having only $275 billion in "uncommitted Treasuries doesn't strike fear in my heart though. They can always get more.

 

But I think they are just about done with this stupid game. It isn't working and they know it.

 

Subscribe to the Wall Street Examiner Professional Edition Fed and Treasury Daily Report., and stay in the know.

[Jetlag]

I hope this is true

 

"Citigroup Inc. Chief Executive Officer Vikram Pandit plans to ``wind down'' about $400 billion of assets over the next three years as part of his plan to return the biggest U.S. bank to profitability."

 

http://www.bloomberg.com/apps/news?pid=206...GTIo&refer=home