G3 Recap 6-22-11

Main Items:

  • No surprises out of FOMC
  • MPC voted 7-2 to maintain rates. The minutes showed that ‘some’ of the 6 swing voters now believe that ‘further asset purchases might become warranted if the downside risks to medium-term inflation materialized.’
  • All 155 PASOK MP’s voted for the Greek confidence measure. Austerity vote is scheduled for the 28th, but could happen earlier.

Overseas:

  • EU Consumer Confidence in June vs -10.4 exp and -9.8 prev
  • Swedish UE was unchanged at 7.9% in May vs 7.7% exp

Commentary:

  • None
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