- Greek voters gave pro-austerity parties a majority in its parliament. Markets now expect a successful renegotiation of the austerity program.
- Spanish 10y yields broke above 7%
- On Friday the IMF warned that Ireland was at serious risk of requiring a second bailout as the country’s access to private debt markets appears in doubt later this year.
- The head of Denmark’s central bank warned of the intense upward pressure currently being placed on the krone from investors seeking a safe haven from the eurozone debt crisis. The central bank said it has the necessary tools to keep the krone within a narrow band against the euro. It said it was prepared to move into negative interest rate territory if needed – FT
- US NAHB index was unchanged at 29 in May vs 28 exp
- The French Socialist party took a majority in the National Assembly
- Mon: NAHB Housing Market Index
- Tues: UK CPI, German Zew, US Housing Starts, Japan Trade Balance, BoJ minutes
- Wed: MPC Minutes, UK Claimant Count, FOMC
- Thurs: EU PMI, UK Retail Sales, US Jobless Claims, Markit US PMI, Philly Fed, EU Consumer Confidence
- Fri: German IFO, Canada CPI
Commentary & Links:
Separately, Bruce Krasting’s recent conversation with a Greek shipper is worth a read.