Dec 5. US Rate futures report: “YES WE’RE OPEN”

–Obama says that when a deal is reached on the fiscal cliff, the economy is “poised to take off.” Yeah, like the Hindenburg. Well actually the Hindenburg was landing when it exploded, not really ‘taking off’. But you get the analogy. So our elected representatives can’t come to an agreement to stave off financial disaster, but the mayor of LA is able to strongarm burly longshoremen into a labor deal to reopen LA and Longbeach ports. Well, actually it was the clerical staff that were striking, and it was more like gentle prodding from the mayor, but apparently a deal was reached.
–A headline on the Drudge Report says “Obama Consults with MSNBC Hosts Sharpton, Maddow on Tax Rates…” No. I am not making it up, though the article in question only says that the above two were seen visiting the West Wing. So I googled “Al Sharpton tax problem.” And voila, the results page lit up. As of 2011 he owed $360k for 2009 and his group is delinquent by $3.5 million from previous misunderstandings with the IRS. I hope he’s able to convince Obama not to cave in on having the rich pay their fair share. I didn’t bother with Rachel Maddow. She scares me.
–In other news, eurozone retail sales swooned, falling by 1.2% in October, even before Sandy. Non-mfg ISM expected 53.6 and Factory Orders expected -0.1 from +4.8 previously.

Posted on December 5, 2012 at 5:36 am by alexmanzara · Permalink
In: Eurodollar Options

Leave a Reply