Morning Memo: Friday, July 26, 2013

"Morning Memo" begins below this "NOTE for  NEWCOMERS" to "Morning Memo"...... Each morning, we post a short bullet-point list of noteworthy events, data, etc that find their way into the assessment of global markets.  It's far from complete and is not meant to be an exhaustive reconciliation of all things that could possibly impact stocks, bonds, currencies and commodities!  Rather, it's best viewed as a cryptic memo of "highlights", noteworthy items that took place in Asia, European and US hours.....and color-coded 'Red' for seemingly negative impact on equity markets, 'Green' for positive.
This will also serve as a useful review mechanism, as scrolling through the series of "Morning Memo" posts over time ought to summarily highlight what generally drove price action.  
We hope you find this useful and informative....and as always, that you'll share feedback!!  

5:35am ET...

• Asia markets mixed, with Nikkei losing the most, down close to 3% on a firmer Yen on the heels of stronger than expected CPI data.  USD slid below 99!
• Samsung said smartphone sales would slow in Q3.
• Greece met conditions to receive next tranche of bailout.
• FHFA reaches $885mm settlement w/UBS over toxic MBS sales during '04-'07.  Other banks being targeted by gov't for even bigger potential claims.
• ECB..Happy Anniversay!! One year ago today, ECB head Draghi said he'd do "whatever it takes" to preserve the Euro!
• European stocks modestly higher on earnings and positive analyst comments on the banking sector.
• more later...

 10:00am ET..

• Michigan Consumer Sentiment hits 6yr high!! 

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(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
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