Frontrunning: June 7

Tyler Durden's picture
  • Rogoff - The global fallout of a eurozone collapse (FT)
  • Europe’s Banks Too Fragile to Afford Greek Default (Bloomberg)
  • Geithner Wants Global Rules on Derivatives (WSJ)
  • Low Yields on Treasury Debt No Guarantee Financial Crisis Won’t Hit U.S. (Bloomberg)
  • Debt crisis and IMF to dominate Obama, Merkel talks (Reuters)
  • Lehman Brokerage Gets $2 Billion From Barclays (Bloomberg)
  • Obama’s Chief Economist Goolsbee Is Said to Consider Return to Teaching (Bloomberg)
  • Hong Kong Banks’ Mortgage Rate Increases Taking Steam Out of Housing Boom (Bloomberg)
  • Portugal Winner Pledges to Act Fast (WSJ)
  • Fed Is Said to Back 3 Percentage Point Surcharge for Big Banks (BusinessWeek)
  • Cut taxes to boost economy, IMF tells George Osborne (Telegraph)
  • Syrian activists fear retaliation after 120 soldiers ‘are shot dead’ (Independent)
  • Comedy hour from the always wrong BRIC: Jim O'Neill on why accurate GDP forecasts prove vital to equities performance (FT)
  • In Korea food prices rise higher than others (Joongang Daily)

European Economic Highlights:

  • Hungary Industrial OutputforApr +9.5%yoy – Higher than expected.Consensus +9.1%yoy; Previous +9.2%yoy.
  • Switzerland CPIforMay  +0.4%yoy – Higher than expected.Consensus +0.3%yoy; Previous +0.3%yoy.  
  • Norway Unemployment RateforMay 2.5% - Lower than expected.Consensus 2.6%; Previous 2.8%.
  • Euroland Retail SalesforApr +0.9% mom +1.1%yoy – Higher than expected.Consensus +0.3%mom +0.0%yoy; Previous -1.0%mom -1.7%yoy.
  • Germany Manufacturing OrdersforApr +2.8%mom +10.5%yoy – Higher than expected.Consensus +2.0%mom +9.0%yoy; Previous -2.7% mom 10.1% yoy.