Tuesday, 30 June, 2015
(Bloomberg) — Asian stocks rose with U.S. index futures in the wake of a $1.5 trillion global rout Monday, while the euro pared a quarterly advance as investors watch developments in Greece. Chinese shares reversed losses as the government stepped up efforts to buoy sentiment amid a bear market. The MSCI Asia Pacific Index added 0.9 percent by 2:48 p.m. in Tokyo, while Standard & Poor’s 500 Index futures rose 0.3 percent. The MSCI All […] Read More
Monday, 29 June, 2015
From AFR Contributing Editor Christopher Joye Global traders are up in arms that Greece, a country with only 11 million residents and annual GDP less than that of Israel or Chile, is giving them yet another bout of whip-lash. While there is deep anxiety as to how this chaotic Greek drama plays out, there may be counter-intuitive grounds for optimism. First, there’s a very good chance that the 5 July referendum called by the Greek Prime […] Read More
Monday, 29 June, 2015
WSJ- Greece Orders Banks Closed, Imposes Capital Controls to Stem Deposit Flight – Greece shut down its banking system, ordering lenders to stay closed for six days starting Monday, and its central bank moved to impose controls to prevent money from flooding out of the country.The steps, a fateful climax to five years of debt crisis, puts Greece closer than it ever has been to an exit from the euro and pushes the common currency […] Read More
Monday, 29 June, 2015
FT- Whatever the outcome, the result will most likely be deadlock. According to the – Beyond the cost, though, there is the problem that this poll has no real objective. The bailout proposal was not final and it has already been recalled.Voting on a non-existing proposal is surreal and only serves to highlight that the referendum is really about the standing of Greece in Europe.According to the Greek government, a No vote will pressure the […] Read More
Monday, 29 June, 2015
German, Dutch banks ‘well-prepared’ for Greek financial ructions – German and Dutch banks said on Sunday said they were fortified against possible financial turmoil in Greece this week after the country announced it would keep banks closed on Monday and would introduce capital controls…"We are very well-prepared because we’ve been anticipating a situation like this for a long time," said a spokesman for Germany’s second biggest lender, Commerzbank. The Athens stock exchange will also be […] Read More
Thursday, 25 June, 2015
(Bloomberg) — Household spending climbed in May by the most in almost six years, buoyed by gains in incomes as the U.S. job market strengthened. Purchases increased 0.9 percent, the biggest gain since August 2009, after rising 0.1 percent in April, Commerce Department figures showed Thursday in Washington. The median forecast of 75 economists in a Bloomberg survey called for a 0.7 percent advance. Incomes rose 0.5 percent for a second month. Consumers may finally […] Read More
Thursday, 25 June, 2015
(Bloomberg) — French President Francois Hollande held out hope of a deal for Greece even as German Chancellor Angela Merkel said negotiations looked to be going backward. The differing tones from the heads of Europe’s two biggest economies reflected the frustration among leaders and finance ministers after days of talks in Brussels that have failed to yield a breakthrough. With finance chiefs meeting for their fourth session on Greece in a week, “we don’t […] Read More
Tuesday, 23 June, 2015
(Bloomberg) — The dollar strengthened and Treasuries fell as a Federal Reserve official suggested interest rates may rise as soon as September amid data showing a gain in orders for business equipment. European stocks rallied on optimism a deal on Greece is near. The Bloomberg Dollar Spot Index jumped 0.9 percent at 9:31 a.m. in New York. The yield on 10-year Treasury notes climbed five basis points to 2.43 percent. The Standard & Poor’s 500 […] Read More
Tuesday, 23 June, 2015
(Bloomberg) — An index of euro-area factory and services unexpectedly rose to the highest in more than four years this month as growth gained momentum in Germany and France, the bloc’s two largest economies. Markit Economics said on Tuesday that its composite index increased to 54.1 from 53.6 in May. That’s above the 50 mark that divides expansion from contraction and exceeds the median estimate of economists, who forecast it would slip to 53.5. France’s […] Read More
Monday, 22 June, 2015
(Bloomberg) — U.S. stocks followed European equities higher, while Treasuries fell with German bunds on speculation officials will break an impasse over a Greek bailout. The Standard & Poor’s 500 Index rose 0.7 percent at 10:02 a.m. in New York, 0.3 percent below a closing record. The Stoxx Europe 600 Index jumped 2 percent, while a guage of emerging-market stocks added 1.3 percent. Yields on 10-year Treasury notes rose seven basis points to 2.33 percent […] Read More
