Another US
open, with bad payrolls numbers. my own recent commentary, see how Spain
looks easier, how
to play announcement games, and when
Spain requests the bailout. If you happen to speak Finnish, check my recent
article
on Spain.
German 2
year bond yields went negative on Friday – Chart
by FT
Daily US Opening – RanSquawk / ZH
Frontrunning
– ZH
The Lunch
Wrap – FT
EM New York
headlines – FT
Overnight
Summary – Bank
of America / ZH
Today’s
Front Pages – presseurop
Daily Press
Summary – Open
Europe
Spanish
government and IMF deny rescue plan reports; Almost 100bn in capital fled Spain between January and
March
Morning
MarketBeat: Jobs Report Won’t Change Much – WSJ
Broker Note
Briefing – WSJ
Morning
Take-Out – NYT
AM Dear
Dairy: Leaving the Range – Macro
and Cheese
US Open: News
Stream Poor, Look Out Below – Marc
to Market
The T
Report: – TF Market Advisors
Pre-market
Commentary – Marketwatch
Pre-Market
Trading – CNNMoney
Pre-Market
– NASDAQ
US Equity Preview – Bloomberg
Earnings
& Events – The
Street
MarketCurrents
– Seeking
Alpha
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
EURO CRISIS
As the European world turns – Free exchange
/ The Economist
Perhaps it is best to regard the euro zone
crisis as a soap opera…But come on guys, think of an ending. This has gone on
long enough.
Is it too late to save Spanish banks? – Saxo
Bank
The Spanish banking system will be the “make or
break” event to decide the existence of the euro… a joint effort from Europe
and IMF will be needed to solve the estimated Euro 150-300bn shortfall in the
Spanish banking sector…there is one important reason why a broad rescue would
make sense in the long-run. The fact that Spain’s property market is
highly regarded among Northern Europeans could mean that demand will increase
dramatically if prices depreciate too far.
Spain at the back of the grid (May PMI) – alphaville
/ FT
That’s Spain taking Greece’s spot at the the back of the grid with a level of 42.0, versus 43.1 for the Hellenic Republic
That’s Spain taking Greece’s spot at the the back of the grid with a level of 42.0, versus 43.1 for the Hellenic Republic
The US has joined ranks with
EU officials exploring ways to pump eurozone money directly into Spain's troubled banks
instead of having to further burden the state budget.
CHINA
Gambling
and China’s GDP go hand in hand, so bad news for China.
National Audit Office confirms ridiculous
lending practices of Chinese Banks – ASA
For the sake of meeting loan targets and stimulating growth through massive investment projects, banks ended up lending to practically everyone who wanted money.
For the sake of meeting loan targets and stimulating growth through massive investment projects, banks ended up lending to practically everyone who wanted money.
OTHER
BizDaily: Are we doomed? – BBC
(mp3)
Bad weather and it's getting worse - an
economic forecast from the Swiss investor Marc Faber, also known as Dr Doom.
Also the Danish economist Niels Thygesen, who helped design the European single
currency tells us he still wishes Denmark had joined the euro. And with the US retailer Walmart
facing a bribery scandal in Mexico, the BBC's Will Grant reflects on the gestor
- the man you pay in Latin America to get things done.
Weekly Credit Update – Danske
Bank (pdf)