Mon Aug 24~Early Mkt News-(Yikes-For Sale $109 billion of Treasuries)

Let’s start with this FOR SALE===>>The U.S. government plans to sell $109 billion of Treasuries in three days starting tomorrow, matching a record, as President Barack Obama’s administration borrows record amounts of debt to revive the economy.   The yield on the 10-year note is little changed at 3.56 percent

ABBA Money Money Money http://www.youtube.com/watch?v=WCkOmcIl79s

Full Track MAMA MIA!    http://www.youtube.com/watch?v=P8ybnrIzwYg

Industrial metals have advanced and stocks rise around the world for a fifth day as leaders of the world’s biggest central banks spout confidence in the global economic recovery.

Copper has rose for a third day, lead hits its highest price since September. The MSCI World Index of 23 developed nations added 0.6 percent at 10:10 a.m. in London for its longest streak in almost a month. Futures on the Standard & Poor’s 500 Index advanced 0.3 percent. The yen declined against all 16 most-traded currencies ~Crude oil for October delivery rose 0.4 percent to $74.15 a barrel on the New York Mercantile Exchange, for a fifth consecutive gain. Futures indicate the S&P 500 may post its fifth straight advance, could create the longest stretch of gains since November. Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, increased 1.6 percent in German trading~at 6:40am  Ahead of the opening bell, Dow Jones industrial average futures are up 37, or 0.4 percent, at 9,526. Standard & Poor’s 500 index futures are up 3.00, or 0.3 percent, at 1,028.20, while Nasdaq 100 index futures are up 4.50, or 0.3 percent, at 1,640.00. 

WSJ-Goldman’s Trading Tips Reward Its Biggest Clients August 24 (The Trading Huddle as its called here)==>Every week, Goldman analysts offer stock tips at a gathering the firm calls a “trading huddle.” But few of the thousands of clients who receive Goldman’s written research reports ever hear about the recommendations. cont http://online.wsj.com/article/.....52521.html

Oil Industry Details Costs of Climate Bill * AUGUST 24, 2009

By ANGEL GONZALEZ

==>>>Proposed federal legislation aimed at curbing global warming would drastically reduce domestic fuel production, according to a new study commissioned by the oil industry as part of its campaign to oppose new restrictions.

http://online.wsj.com/article/.....52913.html

Global Debt Bubble, Causes and Solutions-MISH- Monday August 24, 2009 ==>Australian economist Steve Keen is one of the very few who have called this economic crisis correctly. What distinguishes Keen is that his economic forecasts are based on levels of debt and changes in levels of debt as opposed to money supply, output capacity and other things that led most economists astray.

The following video is about 19 minutes long but very much worth listening to in entirety, improving as it goes along. The video may take a while to load but it’s well worth it. Everything below in quotes, until the next bold title is a partial transcript from the video.  use link to listen and absorb http://globaleconomicanalysis......tions.html

What FDIC Auctions, loss sharing deals don’t tell us -August 24, 2009 | about: BBT/ CNB / KBE / RKH/ XLF   

(has this insert for reference)  ==>

Let me use an example to illustrate this point. Check out this chart provided by Tyler Durden of Zero Hedge:

The loans listed above are commercial real estate loans that the FDIC picked up through its receivership actions over the past year. These are often loans that other banks didn’t want to take on even if they purchased other assets or assumed a failed bank’s deposits. The FDIC is then forced to sell them to private investors and other banks at discounts to book value (average discount for the above group of loans as sold was a shade over 30%.)

Continue for full article worth reading ~ http://seekingalpha.com/articl.....ource=feed

Readers Digest files prearranged  Chapter 11   On Monday August 24, 2009, 6:53 am EDT

http://finance.yahoo.com/news/.....2.html?x=0

Boom and Bust: Don’t be fooled by false signs of economic recovery.  It’s just the lull before the storm By Barry Ritholtz - August 24th, 2009, 2:30AM==>Andy Xie is a former Morgan Stanley economist now living in China; The following is from the South China Morning Post:  continue with link http://www.ritholtz.com/blog/2.....the-storm/

* Yen briefly falls below 95 yen per dlr JPY= 1-wk low* Dollar holds ground on hopes for U.S. recovery* June euro zone new orders up 3.1 pct m/m, beats forecasts 

Shanghai Composite Index ended 1.1 percent higher .SSEC European shares were up 0.8 percent by late morning trade.

The Australian dollar rose 0.7 percent to 79.68 yen AUDJPY=R and the New Zealand dollar edged up 0.5 percent to 65.03 yen NZDJPY=R.

The Aussie also rose 0.6 percent against the U.S. dollar to stand at $0.8402 AUD= while kiwi was up 0.4 percent at $0.6857 NZD