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    French May Consumer Confidence Falls to Record Low as Oil Rises

    Consumer confidence in France dropped to a record low in May as fuel and gasoline costs soared, prompting fishermen to stage protests about shrinking incomes. A gauge of consumer sentiment fell to minus 41, the lowest since the index was introduced in 1987, from a revised minus 38 in April...
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    Will strip clubs flourish in this bad economy?

    The "stripper" spread....ha, ha, ha...LOL ! :D :p :)
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    Short DAX at 7740

    Close FDAX 6996.00....
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    Short DAX at 7740

    We may see a bounce over here....depends on the data releases today...but players prepared for showdown at 4 p. m. CET :) I am mildly long over here...narrow stops
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    bond insurers are back in the spotlight

    There’s a monoline-related barney going on. After raising capital in February and March, temporarily easing concerns about their future, the bond insurers are back in the spotlight. First there’s the matter of accountancy - and the prospect of having to set aside money to cover losses on...
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    British house prices dropped for the eighth month in a row

    British house prices dropped for the eighth month in a row in May as buyers continued to avoid the market, housing data provider Hometrack said Monday. Hometrack's monthly survey found the average British house price saw a 0.5% monthly fall in May, following a 0.6% drop in April. Prices were...
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    Quote of the Day: US Energy Policy

    "This is not an energy policy. This is money laundering: we borrow money from China and ship it to Saudi Arabia and take a little cut for ourselves as it goes through our gas tanks." - Thomas Friedman Source : http://bigpicture.typepad.com/comments/taxes_and_policy/index.html :D :D :D
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    UBS Falls After Saying More Mortgage Losses Possible

    UBS AG, the European bank hardest hit by the U.S. subprime contagion, fell as much as 3.7 percent in Swiss trading after saying it may face more losses from mortgage securities. UBS declined 1.02 Swiss francs, or 3.4 percent, to 28.92 francs by 3:38 p.m. in Zurich, the biggest slump among the...
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    Short DAX at 7740

    Closing FDAX positions 6955.00...:p :D :)
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    Oil beginning to threaten SIFs

    What about our "friendly neighbourhood bank" Goldman Sachs target of 1160, nitro ? :)
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    UBS prices rights issue to raise $15.6 bln

    Nazz, Swiss cuisine is - contrary to general opinion - awful !!!!! Without "immigrant worker" cuisine, Switzerland would not have anything to offer regarding haute cuisine...One of the main reasons to let me think about leaving this country - besides other "issues"...:) :p
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    More than half of the large U.S. pensions’ HF assets were invested w. single managers

    Bloomberg reported earlier this month on the trend among pension-plan investors to shift from using funds of hedge funds to investing directly in individual managers (Source.) One of the reports said that U.S. hedge-fund investors were paring the roughly $80 billion they pay in annual fees by...
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    Short DAX at 7740

    Company outlook statements show that management teams are reasonably optimistic about the earnings outlook for the rest of this year. They cite emerging-markets growth and pricing power as positive contributors to earnings growth, but acknowledge that there will be pressures from input costs and...
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    UBS prices rights issue to raise $15.6 bln

    UBS, the Swiss investment-banking giant, price a public offering of 760.3 million rights designed to raise 15.97 billion Swiss francs, or about $15.6 billion. UBS holders will receive one right for each of their shares. Each 20 rights entitle the holder to buy seven new UBS shares at 21 Swiss...
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    Lehman shares down on loss fears

    Shares in Lehman Brothers sank nearly 6% Wednesday to $39.56 after several analysts downgraded the investment bank, warning of a Q2 loss due partly to the poor performance of hedging positions on its large mortgage exposure. Susan Roth Katzke, a Credit Suisse analyst, said she expects Lehman to...
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    Top banks urge relaxed writedown rules

    The world’s top banks have stepped up pressure to relax controversial accounting rules with a new plan aimed at breaking the “downward spiral” of huge writedowns, emergency fundraisings and fire-sales of assets. The proposals on “fair value” accounting by the Institute of International...
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    China's crude oil import rise 10% in Jan to April period

    HONG KONG (MarketWatch) -- China's crude oil imports for the January to April period climbed 10% from a year earlier to 448.3 million barrels, according to data released by the General Administration of Customs Thursday. Imports for the month of April fell 4% to 106.80 million barrels, the...
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    Short DAX at 7740

    Waiting for target 6953.00...:)
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    UBS sells subprime debt for steep loss

    More circularly-funded asset sales: we’re just hearing news that UBS has sold $22bn of Alt-A and subprime for 68 cents on the dollar, raising around $15bn. UBS: UBS announced today that it has closed on the sale of approximately USD $15 billion of primarily Subprime and Alt-A US...
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    Short DAX at 7740

    Closing some FDAX 7069.00....waiting for another short opportunity :)
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