Quote:
‘Husbands never become good; they merely become proficient’. H. L. Mencken (1880-1956)
The News:
US Supreme Court asked by pension funds to block Chrysler sale to Fiat.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:50 JP April Trade Balance 184B Yen, Current Account 966B, versus +132B and +902B March.
00:50 JP May M2 Money Supply +2.7% Y/Y versus revised +2.7% March.
00:50 JP May Adjusted Bank Lending +3.9% Y/Y versus +4.2% April.
05:30 JP May Bankruptcies –6.7% Y/Y versus +9.4% April.
06:00 JP May Economy Watchers’ Survey Current 34.0, Outlook 43.3, versus 34.2 and 39.7 April.
06:45 CH May Adjusted Jobless 3.5% versus 3.4% April.
09:30 EZ16 Sentix Investor Confidence (-34.2 to –27.0 versus –34.3 May).
11:00 DE April Factory Orders (-2.0% to +3.5% M/M, Y/Y, versus +3.3% and –26.7% March).
13:15 CA May Housing Starts (120K to 135K versus 117.6K April).
17:30 US Fed’s Tarullo speaks on financial regulation, Washington.
00:01 GB May BRC Retail Sales Monitor (versus 4.6 April).
The Psychology:
Whit Monday holidays in Cyprus, Greece and Romania.
The Risk:
Eurogroup finance ministers meet today and tomorrow in Luxembourg.
Today’s most interesting chart: Benchmark US 2-year TNote yield
Bursting higher out of a very narrow and historically very low range.
