G3 Recap 7-14-11

Main Items:

  • Dow Jones reported that the White House said both sides agree on 1.5trn in cuts.
  • US Retail Sales ex Auto & Gas rose 0.2% MoM in June vs 0.4% exp and 0.3% prev. Core retail sales rose 0.1%.
  • Initial jobless claims declined to 405k last week vs 415k exp and 418k prev
  • US core PPI rose 2.4% YoY vs 2.2% exp and 2.1% prev.
  • Handelsblatt reports that the German government has dropped its demand for private sector involvement in the planned 2nd rescue package for Greece


  • EU CPI rose 2.7% YoY in June as expected. The Core measure rose 1.6% YoY vs 1.5% exp and prev.
  • South Korea kept its repo rate unchanged at 3.25% as expected.


  • None