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Monday, June 10

10th Jun - EU Open: German court week

Market-wise, the Japanese situation is probably the most import moving part in the Matrix. Medium-term, the demands from the IMF to restructure Greek debts and the expected conditional "Yes, but" from the German Constitutional Court on the ECB's OMT-program are the most important ones.

Previously on MoreLiver’s:

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News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT
Asia Morning MoneyBeat: China’s Move to Slow Credit Has Risks – WSJ
Europe Morning MoneyBeat: Shaky Start Forecast Despite U.S. Jobs Boost – WSJ

3 Numbers to Watch: French production, EU confidence, US ETITradingFloor
Updates on industrial production for France and investor expectations for the Eurozone will test the ECB's forecast of better days for Europe in 2013's second half. Later, the Conference Board releases its broad index of the US labour market's trend.

Market Preview: Eurozone Sentix investor confidence index eyedTradingFloor
European markets are expected to open mostly lower Monday following weak Chinese economic data over the weekend. Traders will keep an eye on the Eurozone Sentix investor confidence index due later today which is likely to show an improvement in June.

Danske DailyDanske Bank (pdf)
Euro area Sentix investor confidence will give a first impression of market sentiment
in June. Fed speeches are still being scrutinised for signs of an imminent scaling-down of
the Fed’s asset purchases. The BoJ has started its two-day monetary meeting and will announce
its decision early tomorrow morning.

Aamukatsaus Nordea
Työllisyysluvut eivät pettäneet, lisää jenkkilukuja viikon aikana * Kiina: Ei merkkejä piristymisestä * Öljy jälleen vahvana

Aamukatsaus – Tapiola (pdf)


IMF Says Another Greek Bailout NecessaryZH
The IMF is refusing to participate in further rescue programs for Greece unless financing for the nation is secured for the next 12 months - in other words - a new haircut for Greece will be required to cover the EUR4.6 billion funding shortfall.

The ECB's "Unlimited, Open-Ended" Bond Purchase Program Gets A €524 Billion LimitZH

ECB says bond-buying program is unlimitedReuters
A spokesman for the bank on Sunday denied a German newspaper report published in the run-up to a court hearing on the scheme.

Scandi markets ahead: Inflation data and heavy government bond issuanceDanske Bank (pdf)

China Data Dump: Moderation, but no Stimulus in ResponseMarc to Market

China: Growth subdued but not soft enough to force easingDanske Bank (pdf)

Bank of Japan preview: Difficult for Kuroda to resist market pressureDanske Bank (pdf)

The Zero Upper Bound?Noahpinion
Japanese bond prices have dropped despite BoJ purchases – weird?

Japanese Stocks Surge By Most In 27 Months; JPY & JGBs ShrugZH

Thoughts on the Week AheadMarc to Market