- US Initial Jobless Claims was stable last week at 385k as exp.
- NYT reports that JPM CIO office loss may have jumped to 9bn vs 2bn previously.
- Barclay’s was under heavy selling pressure as the FSA publicized yesterday that the bank will pay 290mm sterling to settle the Libor manipulation probe. The CEO is under pressure to resign.
- US Supreme Court upheld the Affordable Care Act, with the exception that the federal government power to terminate states’ Medicaid funds will be limited to only new funds. The vote was 5-4, with Chief Justice Roberts the swing voter. In writing for the court, he said that Congrass had the authority to impose the insurance requirement under its power to levy taxes.
- China’s head of the National Audit Office said that the finances of local governments are unstable and unsustainable.
- German Unemployment increased 7k in June vs 3k exp. The Unemployment Rate increased to 6.8% vs 6.7% exp and prev on revisions.
- EU Economic Confidence declined to 89.9 vs. cons 89.6 and 90.6 prev. This was the lowest print since 2009
- EU Industrial Confidence declined to -12.7 in June vs -12 exp and -11.3 prev
- Italian CPI increased to 3.6% YoY in June vs 3.4% exp and 3.5% prev
- Fri: EU Summit, EU Money Supply, CPI Estimate, CanadaGDP, US Personal Spending, PCE Deflator, Chicago PMI, UMichigan Confidence
- Mon: ChinaMfg PMI, AustraliaMfg PMI, South Korea HSBC Mfg PMI, China HSBC Mfg PMI
- Tues: Swiss Mfg PMI, ItalyMfg PMI, UKMfg PMI, US ISM, China Non-Mfg PMI
- Wed: US Holiday, RBA, Australia Services PMI, China HSBC Services PMI
- Thurs: Italy Services PMI, UK Services PMI
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