johnaus's - brink of death - friday, page-7

CRB index did not follow Equities last night.

Flash PMI from China, France and Germany were all worse than expected. Philadelphia Fed survey was slightly better than expected though expectation had been very low.

US Jobless claims worse than expected but no one cared.

Regarding so-called Eu Zone solution - There will be 20% haircut for private investors and Greece will go for short-term default. for now, nobody seems to care abt that , again. Changes to so-called EFSF fund will require Parliamentary approvals in some Eu Zone countries and they did NOT actually expand the size of the fund, so the firepower is abit doubtful.

Whitehouse declared few hrs ago there is still NO debt deal and looks like House republicans will do as much damage as they can to Obama's image until the last second. I love that chicken game.