Week of September 4, 2011 thru September 10, 2011

China Aug Trade Surplus Down; Exports,Imports Above Expected

BEIJING (MNI) - Chinese trade flows in August marked a rare vote of
confidence for the health of the global economy, with exports and
imports both sailing past expectations.

The General Administration of Customs said Saturday that China's
exports rose 24.5% y/y in August, compared with the median forecast of
19.9% by economists surveyed by Market News International.

Imports surged 30.2% y/y in August, sharply higher than the median
forecast of 21.0% by economists.

August Trade surplus fell to $17.76 billion from July's $31.48

China Economic Data Calendar

All figures year-over-year percent changes unless otherwise specified.

Date Time For Event Previous Local/GMT ------------------------------------------------------------------------ 11-15 Sep -- / -- Aug Money Supply (M2) (% ytd y/y) +14.7 11-15 Sep -- / -- Aug New Loans (yuan bln mth, trln ytd) +492.6/+4.66 12-15 Sep -- / -- Aug Actual FDI +19.8/+18.6 21 Sep 1000/0200 Jul Conf Brd China Leading Index 158.9

ECB Weidmann: Growth Pessimism Exaggerated, Confirms Outlook

MARSEILLE (MNI) - There are no reasons to revise German growth
projections downward or launch fresh stimulus packages, European Central
Bank Governing Council member Jens Weidmann said Friday.

Statement Of G7 Finance Ministers, Central Bank Heads - Text

MARSEILLE, France (MNI) - The Group of Seven finance ministers and
central bank governors issued the following statement late Friday night
after meeting here:

US News Events Calendar

--Meetings & Events of Interest to Subscribers

DATE GMT / EST EVENT ------------------------------------------------------------------------

12-Sep 2100/1700 Dallas Federal Reserve Bank President Richard Fisher speech on monetary policy in a global context to NABE annual meeting in Dallas.

12-Sep 2400/2000 St. Louis Federal Reserve Bank President James Bullard opening remarks at Fed conference in St. Louis.

TheFXSpot: 9-11 Ten Years Later - Sifting Through the Rubble

By Vicki Schmelzer

NEW YORK, Sept 9 (MNI) - Ten years after the 9/11 attacks, some
things in the financial world are different and some are the same, but
nothing that has changed has anything directly to do with the attacks,
or does it?

US Debt Offering, Auction Calendar for Tsy and Agency Issues

September 9

Source: U.S. Treasury, Fannie Mae, Freddie Mac Amounts in billions of U.S. dollars

Auction/ Prev. Announce Pricing Settlement Maturity Auction Source Date Issue Date Date Date Size

Upcoming bills and coupon offerings:

UST 12-Sep-11 4-wk 13-Sep-11 15-Sep-11 --- 30.0 FNMA 12-Sep-11 3-mo 14-Sep-11 15-Sep-11 --- 1.0 FNMA 12-Sep-11 6-mo 14-Sep-11 15-Sep-11 --- 1.0

FXWRAP: Euro Trashed On Pre-Weekend Jitters, Stock Slide

By Dennis Pettit

NEW YORK, Sept. 9 (MNI) - The dollar was holding solid gains vs. a defensive euro Friday but had slipped slightly vs. the yen on a day when the euro was pummeled by a one-two barrage of risk-aversion and fresh eurozone jitters.

Euro-dollar was changing hands at $1.3672 in afternoon dealings Friday, the euro in the lower reaches of the day's $1.3626/1.3840 U.S. hours range, the euro beginning the day near those highs but beaten resoundingly lower in morning dealings.

Dollar-yen meantime was holding at Y76.45 in afternoon dealings,

Mexico's Cordero Steps Down as Fin Min, as Expected

--Cordero Expected to Run for President
--President Calderon Names Energy Minister Meade to Finance Post

By James Young

MEXICO CITY (MNI) - Ernesto Cordero formally stepped down as
Finance secretary Friday, as expected as a prelude to his expected run
for the presidency next year.

President Felipe Calderon named Energy Secretary Jose Antonio Meade
to replace Cordero, in one move of a broader cabinet shuffle.

Cordero, who waited until handing in the 2012 budget plan Thursday
night before resigning, can now formally begin his campaign to win the

Talk From The Trenches:Pre 9/11 Jitters,Stocks Boost Long Tsys

By Joe Plocek and Isobel Kennedy

WASHINGTON, Sept 9 (MNI) - A long list of items helped Treasury
coupon prices Friday despite the market's initial iffy react to
President Obama's latest $447 billion jobs plan.