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| Nasdaq |
- (IS) Israel Q1 Current Account: $ 371M v $ 565M Priority
- (U.S.) May NFIB Small Business Optimism: 90.9 v 90.5
- (U.S.) ICSC / GS-weekly chain store sales w / e 11th June: -0.8% w / w, 2.4% y / y
- (IC) Iceland May Unemployment Rate:% v 8.1% Priority
- (PD) Poland May M3 Money Supply M / M: 0.8% v 1.5% e
- (PD) Poland May Current Account: - € 959M v - € 995Me; Trade Balance: - € 719M v - € 550M
- (CA) Canada Q1 Capacity Utilization Rate: 79.0% v 77.2% e
- (U.S.) May Producer Price Index M / M: 0.2% v 0.1% e; PPI Ex Food & Energy, M / M: 0.2% v 0.2% e
- (U.S.) May Advance Retail Sales: -0.2% v -0.5% e; Retail Sales Less Autos: 0.3% v 0.2% e; Retail Sales Ex-Auto & Gas: 0.3% v 0.2% e
- (U.S.) Redbook Retail Sales w / e 11th June: 3.7% y / y; MTD: 0.8% v May
- (U.S.) Feb Business Inventories: 0.8% v 0.9% e
- Market rallies in Asia and Europe are pulling Higher U.S. indices this morning after the May Chinese inflation and industrial data Expectations met. China's reserve ratio Requirement increase, its sixth this year, did not dampen enthusiasm, nor did the U.S. advance retail sales May date Which went negative for the first time in 11 months. The FDIC board voted 5-0 to approve a final rule That will bar the nation's largest lenders from Reducing capital levels below baselines set for smaller banks, as part of the Dodd-Frank reforms. Crude has gained slightly in the early going, but Remains $ 98 below the handle, while spot gold is just above $ 1.520. Money is flowing away from the relative safety of government bond markets sending Higher yields on Both Sides of the Atlantic, and the U.S. 10-year yield has backed up to 3.08% while German Bund is back above 3%.
- In equity news, shares of Kellogg are down by 2% after the company Disclosed That the FDA said it would inspect its facilities again after Kellogg Responded to an Earlier warning letter stemming from a February inspection of a Georgia plant. Avis Budget Group is up 6% and Dollar Thrifty is down 9% after the confirmed Avis plans to Acquire its European unit for £ 636M in cash. Note That Dollar Thrifty has received takeover offers from rival Avis and Hertz over the last 12 months, with the most recent being $ 72/shr offer from Hertz, Which DTG's board said it was reviewing. The Avis announcement today could lead to speculation Avis That May have no further counter-offers.Electronics retailer Best Buy's Q1 results came in a bit Higher than expected, and the company reaffirmed its FY12 Also guidance. Shares of BBY are 6%.
- FX traders are looking to Possible events over the next 24 hours to dictate risk appetite and talk up the FX Order obvious stops. European Finance Ministers were scheduled to meet on Greece later today to hammer out a plan in the country would Which Avoid a default. The Greek Finance Ministry said it had finalized an € 80B loan extension that was Discussed at the March EU Summit Leaders, In Which the repayment period was Increased from four to seven and a half years. EUR / USD managed to hold onto marginal gains around the 1.4430 level and the Swiss Franc was off historic highs after a U.S. think tank said the SNB could Remain on hold. USD / CHF was trading around the 0.8445 area while EUR / CHF was up over 100 pips from its Asian open to trade near 1.22. USD / JPY was probing the recent highs near 80.60, WHERE Japanese Exporters are said to waiting to take advantage of JPY weakness.
*** Looking Ahead ***
- Second ESFS bond issue to raise funds for Portugal
- 11:30 (U.S.) Treasury to sell 4-Week Bills
- 12:00 (IC) Iceland May International Reserves (ISK): No. 759.2B v est Priority
- 13:00 (EU) EU Finance Ministers Meet on Economic Governance, Budgets
- 16:30 (U.S.) API Weekly Energy Inventories
- 17:00 (CO) Colombia Nov Trade Balance: $ 550M v $ 481.4M Priority
