- Res Bk of Australia left rates unched @ 2.75%...Gov says economy growing "a bit below trend" and exchange rate could depreciate over time....hinting at room for lower rates.
- Nikkei up 1.8%...same old....
- European equity markets faded on focus on talk that IMF and EU have given Greece three days to prove they can meet bailout requirements...or else not get next round of bailout funds! EZ woes are back!!
- European bond mkts generally firm despite Greece rumors. Spanish bonds outperforming on bte employment data. 10s @ 4.555%, down 9bps. One exception...Portugal..bond pxes lower on resignation of finance minister ("chief enforcer of austerity measures)....10s yld rose 12bps to 6.52%.
- US...CoreLogic home price index rose 2.6% in May...up 12.2% y/y...largest annual growth since 2/06. BUT...national home prices including distressed properties remain 20% below '06 peak!
- Egyptian protests continue. Military gives Morsi 48-hour deadline to resolve protester issues or else.....Egyptian stocks ralled on the hope of military intervention. But further "winter weather" in the "Arab Spring" raises overall Mid East risks....
- US Factory Orders bte climb 2.1% in May and revised up in April
- US Auto Sales...coming in bte
- more later....
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