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Wednesday, June 13

13th Jun - EU Open: AFK

I will be away from the keyboard most of the day, but "I'll be back" - have a good day.

News roundup – Between The Hedges
News roundup – The Trader
Emerging Markets Headlines – beyondbrics / FT
The 6am Cut London – alphaville / FT
Press digests by Reuters: FT, WSJ, NYT
Market Summary – Commodities Trader

Debt crisis: live – The Telegraph
The Euro Crisis Blog – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices

Asia todaySaxo Bank
EUR treads water after Turnaround Tuesday

Market Preview: US Retail Sales data in focusSaxo Bank
European markets are likely to open higher Wednesday, following their Asian peers, as investors await US retail sales data due later today. Investors' concerns still persist as Italian and Spanish 10-year bond yields continued to soar yesterday.

Danske DailyDanske Bank (pdf)
Spanish bond yields surge to euro-era record high on continued concerns about Spain’s debt sustainability. Modest market impact – stock markets moderately higher and EUR trading largely unchanged. ECB and Bundesbank disagree on bank union feasibility 

Morning BriefingBNY Mellon
There continues to be an uncomfortably familiar feel to recent events.

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Share a currency, with them? Free exchange / The Economist
all parties committed themselves to the union when they joined the euro. And having done so they face potential catastrophe if they allow it to fracture.

Encumbered sovereigns A Fistful of Euros
ECB’s latest report talks about why banks have difficulties loaning money because of lack of capital and subordination. But the same logic should be applied to sovereigns as well!

"Dead Before Arrival": Bundesbank Shoots Down EU Banking-Union Proposal; Eight Lessons the EU Needs to Learn Mish’s