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    Bernanke : markets ``far from normal,

    Federal Reserve Chairman Ben S. Bernanke said financial markets remain unsettled and the central bank will increase its auctions of cash to banks as needed. While markets have improved, they remain ``far from normal,'' Bernanke said today in the text of a speech to an Atlanta Fed conference...
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    Short DAX at 7740

    Earnings downgrades create short-term risks to the downside However, a passing of the worst part of the credit crunch does not mean that we have passed the worst part of the economic and earnings cycle. We continue to expect earnings disappointments to drive earnings revisions lower. Higher...
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    Bankruptcies now come pre-packaged

    The days when troubled companies could spend years fixing their problems in bankruptcy court are fast evaporating. As companies face the tightest credit market in decades, ready-made, pre-packaged and pre-arranged bankruptcies have soared in popularity, spurred along by tougher bankruptcy...
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    JPMorgan Expects Banking, Card Units to Post Lower Earnings

    JPMorgan Chase & Co., the third- biggest U.S. bank, will post lower earnings from investment banking and credit cards in the second quarter as the U.S. recession is ``just starting,'' Chief Executive Officer Jamie Dimon said. Dimon, speaking at a conference in New York sponsored by UBS AG...
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    HSBC sees U.S. recession and global economic risks from inflation.

    It’s been billed as a week of banking succour. HSBC kicked proceedings off on Monday. HSBC’s bad debt impairments in its US consumer lending business were $3.2bn in the first quarter, down from $4.6bn in the final quarter of last year. Elsewhere, the bank’s global banking and capital...
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    Lampert, Wood Reveal Failings of `Concentrated' Hedge-Fund Bets

    When Jon Wood opened his Monaco-based hedge fund, the former UBS AG trader told investors he'd beat the market by buying stakes in no more than 40 companies -- the same way he made $2.4 billion in six years for his old employer. Instead, holdings such as failed U.K. bank Northern Rock Plc...
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    Citigroup considers $400bn asset sale

    Citigroup will on Friday identify as much as $400bn in non-core assets that could be sold as part of plans to reduce costs and restore profit growth to double-digit rates, according to people close to the situation. At a long-awaited meeting with Wall Street analysts, Vikram Pandit, Citi’s...
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    Trichet sees upside inflation risks, downside growth risks

    European Central Bank President Jean-Claude Trichet pointed to the central bank's dilemma in his opening statement following the bank's decision to keep rates at 4% -- upside risks to inflation from energy and food prices and wage deals, and downside risks to economic growth. Financial market...
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    Short DAX at 7740

    1) Fake, otherwise I wouldn´t be short. 2) ECB will stay on hold with a hawkish bias. Inflation way over target.
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    Short DAX at 7740

    Trichet looks like he´s in urgent need of a coiffeur....:D
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    Short DAX at 7740

    Short FDAX 7071.50...ready to sell more...
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    UBS in Deep Trouble......

    You´re pretty well informed about Swiss laws, Rearden Metal...:p
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    Citi selling $2bil in preferred, more common too?

    Potential honorable Citibank investors : :p
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    Postbank Says First-Quarter Profit Declined 19% on Writedowns

    Deutsche Postbank AG, Germany's biggest consumer bank by clients, said first-quarter profit declined 19 percent on writedowns related to the U.S. subprime- mortgage market collapse. Net income fell to 116 million euros ($179 million) from 144 million euros a year earlier, the company said in...
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    Goldman invests in broker-dealer

    Goldman Sachs invested in BTIG LLC, a broker-dealer specialising in equity trading and brokerage services for institutions. Terms were not disclosed. A BTIG spokesman said the Goldman Sachs money would be used for further gorwth in the company. BTIG is expanding in the US and is currently...
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    Recessions Often Begin With Positive GDP Data

    After the Advanced GDP came out last week at +0.6%, I was surprised to read a variety of commentary about the economy that was factually incorrect. Several pundits and economists had concluded that since GDP was positive, we therefore could not possibly be in a recession. The meme "Positive...
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    Updated Year-End S&P 500 Price Targets From Wall Street Strategists

    Below we highlight the most recent year-end S&P 500 price targets from strategists gathered weekly by Bloomberg. Morgan Stanley and Gallatin recently stopped providing price targets, so we've crossed them out from the table below. The average price target currently stands at 1,513, which is...
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    Soros: U.S. stocks are in a bear-market rally

    ...not to forget higher input prices in commodity related industries...companies not able to pass them to the cosumer...
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    European Retail Sales Drop by Record on Rising Costs

    ROFLOMA !!!! :D :) :p
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    European Retail Sales Drop by Record on Rising Costs

    European retail sales dropped 1.6 percent in March, the most since at least 1995 and twice as much as economists forecast, as soaring fuel and food costs sapped consumer spending. The drop in euro-area retail sales from the year-earlier month is the largest since the data series began more...
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