News: 2013-12-26


Iranians Pile Into Stocks as Nuclear Detente Triggers 133% Rally – Bloomberg

JPMorgan Defies Biggest Cash Exodus to Beat Rivals: Muni Credit – Bloomberg

Nikkei Ends Above 16,000 First Time Since 2007; Lira Retreats – Bloomberg

Twitter Shares Soar to Record on Optimism for Mobile-Ad Growth – Bloomberg

Marc Faber’s three bold predictions for 2014

Treasury Yields Hit Three-Month Peak on Durable-Goods News –



Depth of Apparent BOJ Board Split Worth Watching – Real Time Economics – WSJ

“One member said the slowdown in the real GDP growth rate might not be temporary, but “could represent a downward shift in the trend,” the meeting summary showed. In addition, one member noted “unfavorable developments” in the GDP data, such as the build-up of inventory and a drop in employee compensation. The minutes, which don’t reveal the names of the speakers, left it unclear whether the two observations on GDP were made by one member or two.”

Calm returns to China’s money markets –

China cash crunch symbolises central bank policy quandary –

China Estimates 2013 Growth at 7.6% as Challenges Seen Ahead – Bloomberg


Emerging Markets

Turkey’s Erdogan replaces 10 ministers as inner circle cracks –

Brazil Braces for Tax Hikes – Real Time Economics – WSJ

A diplomat’s arrested; from there, the take varies : Columbia Journalism Review



BlackBerry Co-Founder Lazaridis Cuts Stake to Under 5% –

Vor Weihnachten Amazon setzt 600 Mitarbeiter vor die Tür – manager magazin

Apparently, 600 workers in Germany were summarily dismissed on Christmas eve by amazon, adding fuel to dispute with the workers’ union.

NSA Struggles to Make Sense of Flood of Surveillance Data –

A Christmas Message From Edward Snowden on Privacy – Kara Swisher – Media – AllThingsD

Smartphone growth slowing in China as Apple expands iPhone presence

SoftBank reportedly in final talks to buy T-Mobile | The Verge

SoftBank gets closer to buying T-Mobile: report – Yahoo Finance

Google sues to protect Android device makers from Apple-backed patent hell — Tech News and Analysis

Apple bruised as shoppers choose cheaper tablet computers as gifts | Technology |

Exclusive: Target hackers stole encrypted bank PINs – source | Reuters


North America

Late Surge in Web Buying Blindsides UPS, Retailers –

Volcker Rule Challenged in U.S. Court by Bank Group – Bloomberg

Investors’ Story Left Out of Wall St. ‘Wolf’ Movie –

The Plight of the Employed –

Online Sales Jumped 37% During Weekend –

Obamacare, Hated Today, Will Soon Get Boost – Bloomberg

Capital Goods Demand Signals Stronger U.S. Growth: Economy – Bloomberg

Demand for food stamps soars as cuts sink in and shelves empty | World news | The Guardian

U.S. watchdog tells American Express to refund duped clients | Reuters

100 Years Is Enough: Time to Make the Fed a Public Utility | WEB OF DEBT BLOG

Detroit Wins $55 Million in Concessions From 2 Banks –



Mortgage Applications Drop to 13-Year Low – Real Time Economics – WSJ

Sales of New Homes in U.S. Exceeded Forecasts in November – Bloomberg

U.S. mortgage applications fall as refinance hits five-year low: MBA | Reuters

Housing Recovery May Be Running Out of Steam –

Calculated Risk: New Home Sales at 464,000 Annual Rate in November



Mortgage lending up 37pc in a year – Telegraph

Merkel Caught In Middle On Wages –

Bundesbank holt 37 Tonnen Gold nach Deutschland – SPIEGEL ONLINE

The German Bundesbank has had thirty seven tons of gold returned to Germany from New York and Paris to strengthen physical control over reserves.

BBC News – France ‘to avoid double-dip recession’


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