It’s a SCAM Assholes. Ain’t Fucking Iranian Sanctions no more! Obama Administration Pulled Stunt Bluff to Monetize Treasuries against Oil Surge. Israel got lucky outta this Farce
More US waivers to Iran sanctions. Around two thirds of Iran’s crude exports flow to Asia, where the biggest buyers are China, Japan, India and South Korea. The United States granted Japan an exception in March and has signaled it has had good talks with South Korea.
Here is some Wallstreet Whorsmanure Worth-Loathed Reading from Stephen Kirkland and Rita Nazareth, Bloomberg
June 8 (Bloomberg) — U.S. stocks and Treasuries rose while oil and the euro fell as investors awaited weekend talks among European financial officials about a potential bailout of Spain. The Standard & Poor’s 500 Index advanced 0.4 percent to 1,319.67 at 12:46 p.m. New York time, heading for a 3.3 percent weekly gain that’s the biggest since December, after losing as much as 0.6 percent. The yield on the benchmark 10-year note declined two basis points to 1.62 percent. Oil slumped 1.8 percent and the S&P GSCI gauge of 24 commodities slipped 1.1 percent. The euro weakened 0.6 percent to $1.2488 after Spain’s credit ranking was cut three steps by Fitch Ratings. The yen strengthened against 14 of 16 of its most-traded peers. Spain is poised to become the fourth of the 17 euro-area countries to require emergency assistance as the currency bloc’s finance chiefs plan weekend talks on a potential aid request to shore up the nation’s lenders. German exports dropped in April for the first time this year and industrial output in Italy fell more than economists estimated, reports showed today. Global stocks rallied this week as speculation mounted that policy makers will act to spur growth. “You’ve got both sides hedging their bets,” said Walter “Bucky” Hellwig, who helps manage $17 billion at BB&T Wealth Management in Birmingham, Alabama. “Stocks are up and bonds are up. There’s uncertainty going into the weekend. Anything that could address the Spanish situation in a favorable way could have a positive impact. Yet it’s not a big rally. The risk-off trade is very much alive predicting an economic slowdown.” Thirty-year U.S. bonds also rallied, sending yields down two basis points to 2.72 percent. Rates on two-year Treasuries were little changed at 0.27 percent.
Among U.S. stocks, Wal-Mart Stores Inc. and Intel Corp. added at least 1.4 percent to pace gains among the biggest companies. Facebook Inc., which this week fell to the lowest price since it went public, added 3.7 percent. McDonald’s Corp., the largest restaurant chain, slid 1 percent as its May sales trailed analysts’ estimates. Alpha Natural Resources Inc. slumped 4 percent as the nation’s second-biggest coal producer is shutting mines in Kentucky and closing U.S. regional offices. Stocks reversed an early rally yesterday after Federal Reserve Chairman Ben. S. Bernanke said the Fed will need to assess conditions before deciding if more measures are required to stoke an economy threatened by Europe’s debt crisis and U.S. budget cuts.
The Stoxx Europe 600 Index slipped 0.3 percent, after falling as much as 1.4 percent. A gauge raw-material producers slumped 2.8 percent for the biggest decline among 19 groups. BHP Billiton Ltd., the world’s biggest mining company, slid 2.9 percent and Rio Tinto Group retreated 4.8 percent. Barclays Plc decreased 1.3 percent as the Financial Times reported that Chief Executive Officer Bob Diamond has postponed his goal of reaching a 13 percent return on equity by 2013. The newspaper cited unidentified people close to the bank. Lamprell Plc, an oil and gas rig engineer, slumped 22 percent after cutting its profit outlook for the second time in a month. The euro, which depreciated 0.8 percent versus the yen, was set for its first weekly gain against the dollar in six. The Dollar Index, which tracks the U.S. currency against those of six trading partners, jumped 0.7 percent.
The cost of insuring against losses on Germany’s sovereign debt rose for a sixth day with credit-default swaps linked to bunds adding two basis points to 108 basis points, the highest since January. The yield on its sovereign 10-year bund dropped four basis points to 1.34 percent, paring the rate’s first weekly advance in 12. The Spanish 10-year bond yield rose 13 basis points and swaps on government debt rose 16 basis points to 588. Oil lost 1.8 percent to $83.28. Its sixth straight weekly drop is the longest losing streak since December 1998. Copper tumbled 2.5 percent. The MSCI Emerging Markets Index slumped 0.8 percent, paring its first weekly gain since March. The Hang Seng China Enterprises Index of mainland stocks slipped 1.3 percent before data tomorrow on China’s inflation, industrial output and investment. Taiwan’s Taiex index slipped 1.1 percent and South Korea’s Kospi lost 0.7 percent.