TOP NEWS – Week 05/18 – 05/24

Weekend 05/23 & 05/24

Spain’s ruling PP party takes battering in regional vote – Reuters
Greece hasn’t got the money to make June IMF repayment: interior minister – Reuters

G7 finance ministers to address faltering global growth – Reuters
Small Cap Volatility Hitting Historic Lows – Zerohedge
China Establishes World’s Largest Physical Gold Fund – Zerohedge
Traders Are Buying Gold & Silver At Fastest Pace In Over A Decade – Zerohedge
“New Silk Road” Could Change Global Economics Forever, Part 1 – Zerohedge
Steen Jakobsen Warns, Brace For The Next Recession – Zerohedge


Friday 05/22

Greece says reform deal can come in 10 days, but Merkel is cautious – live updates – guardian
Fed on track to hike rates as economic headwinds wane: Yellen – Reuters
Yellen tone suggests choppiness for markets ahead – Reuters
Legislation would allow B-Ds to publish ETF research without fear of breaking securities laws – in
Active stock fund managers load up on ETFs, scrimp on cash – Reuters
Market volatility hits 2015 low – cnbc
Secret Bank of England taskforce investigates financial fallout of Brexit – guardian
Core Consumer Prices Jump Most Since March 2006 Thanks To Surging Healthcare Costs – Zerohedge
Schaeuble Said to Cite Option of Greek Parallel Currency – Bloomberg
Plus500 Shares Suspended as Short Sellers Circle Trading Firm – bloomberg
Why Jim Chanos thinks China could be the next Greece – Marketwatch
Shenzhen Stocks Rising 500% Dwarf Hong Kong Shares Wild Ride – Bloomberg
IFO Pulls Euro Higher – bk
Euro zone outlook brightest ‘in seven long years’: Draghi – cnbc
ECB Minutes: Key takeaways – ING – fxstreet
German Business Confidence Declines as Risks Cloud Outlook – Bloomberg

China getting worried about U.S.-led Pacific trade deal – Marketwatch
Germany: Detailed gross domestic product results for the 1st quarter of 2015 – destatis
George Soros Warns “No Exaggeration” That China-US On “Threshold Of World War 3” – Zerohedge

China shares hit seven-year high – Marketwatch
Bank of Japan stands pat on policy – Marketwatch
S&P Sovereign Risk Indicators Database Shows The Eurozone Is The World’s Largest Capital Exporter – gcp



Thursday 05/21

Germany, France and Greece to discuss bailout at EU summit – live updates – guardian
Guest Post: This October The World Will Change – “China Is Preparing For Something Big” – Zerohedge
What to Make of the Topsy-Turvy Bond Market – nyt
Hewlett Packard Just Reported Its Worst Revenue Since 2007: This Is How It “Beat” – Zerohedge
Meet Generation Subprime – usnews
“We Reached The Tipping Point”: Income Inequality Is Highest Since Records Began – Zerohedge
The Fate of the Fed’s Exit Strategy Is In Foreign Hands – rcm
Kansas City Fed In Recession Territory After Respondent “Laid Off 8% Of Workforce In 2 Months” – Zerohedge
Philly Fed Hovers Near 15-Month Lows, Prices Paid Collapse Most Since Lehman – Zerohedge
U.S. Markit flash PMI falls to 53.8 in May from 54.1 in April – Marketwatch
Dividend Bets Trailing Europe Stocks Highlight Draghi Skepticism – Bloomberg
Chicago Fed Contracts For 4th Month In A Row As Initial Jobless Claims Hover Near 40 Year Lows – Zerohedge
ECB controversy over speech that sank the euro – cnbc
Will El Niño Create an Inflation Storm in Asia? – barrons
Six Reasons You Should Be Paying More Attention to Canada – Bloomberg
Greece should quit euro ‘temporarily’: Ifo’s Sinn – cnbc

Macro Horizons: So-So Manufacturing Data Mean World Needs U.S. Rebound – wsj
First Hanergy Now Goldin: Hong Kong Stocks Drop Like Stones – Bloomberg

Markit Flash Eurozone PMI: Job creation at 4-year high despite slower pace of economic growth – markit

Markit Flash Germany PMI: data signals further slowing of private sector output growth – markit

Markit Flash France PMI: Moderate output growth maintained in May – markit
China Flash PMI struggles on – macrobusiness

Huatai Securities Set To Price $4.5 Billion IPO At The Top, Sending Brokers Higher – barrons
HSBC Flash China Mfg PMI: Output contracts at strongest rate in just over a year – markit

Where now for iron ore in 2015? – macrobusiness
Citigroup sees Sensex at 35,000 by June 2016, but trims Dec-2015 target to 32,200 – economictimes
India’s weightage is now the highest ever assigned to any EM – economictimes
What is austerity? – economist
Turkish debt deviates from EM peers – markit



Wednesday 05/20

Greece warns it will miss June IMF repayment without a deal – live updates – guardian
Fed Doesn’t Rule Out June Liftoff As FOMC Minutes Show Fed Fears Post-Hike Volatility, Dollar Drag – Zerohedge
Dissecting the Impact of Strong Dollar with an Earnings Guru – wisdomtree
Why Is The Guggenheim Solar ETF Slumping? – barrons
ECB Said to Raise Greek Bank Emergency Cash by 200 Million Euros – Bloomberg
Buybacks and Dividends All That’s Left in S&P 500, Goldman Says – Bloomberg
Portugal Sells Debt With a Negative Yield for the First Time – Bloomberg
No one is sure what’s going on in the US economy, and the picture is about to get fuzzier – businessinsider
The $10 Hedge Fund Supercomputer That’s Sweeping Wall Street – Bloomberg
Moody’s outlook for Greece’s banking system is negative – moody’s
BOE Sees Faster UK Growth in Second Quarter – wsj
Chinese Solar Maker Plunges, Losing Nearly $19 Billion in 24 Minutes – Bloomberg
Fed should wait until 2016 to raise U.S. rates, Evans says – Reuters
Japan’s economy grows at fastest pace in a year on boost from inventory – Reuters

BofA: Global Fund Managers Cut US Stock Holdings to 7-Year Low – newsmax
Measuring Chinese capital flight – macrobusiness
China COSCO, Shipping Jump On Merger Bet: Could Just Be A Deal With Vale – barrons
EUR/USD: Sell Bounces; USD/JPY: Add To Longs – BofA Merrill – efxnews
USD Turning Point: Stay Short EUR/USD For 1.08 – Credit Agricole – efxnews
Will April FOMC Minutes Sound As Dovish As The Meeting Statement? – Deutsche Bank – efxnews
In Brazil, High Interest Rates Make Currency Investing the Real Deal – wisdomtree
Greece’s True Deadline May be May 29 – bloombergview



Tuesday 05/19

UK inflation and Greek bailout talks – business live – guardian
Each Day Without Debt Deal Costs Greek Economy €22 Million And 613 Full-Time Jobs – Zerohedge
Here Are the Winners and Losers of Puerto Rico’s Debt Crisis – Bloomberg
US Taxpayer On The Hook As Ukraine Prepares Moratorium On Debt Repayments, Increases Military Spending – Zerohedge
Wal-Mart CEO reveals where American consumers are spending their money – businessinsider
Dollar Rebounds as Investors Foresee U.S. Economy Gaining Steam – Bloomberg
Spot The Housing Starts Outlier – Zerohedge
U.S. housing starts shoot up 20.2% in April to 1.14 million annual rate – Marketwatch
ECB Blames Leak To Hedge Funds On “Internal Procedural Error” – Zerohedge
Annual inflation at 0.0% in the euro area – eurostat
Greek Finances to Stagger On Longer Than You Think – Bloomberg
German Investor Confidence Falls Amid Slower Economic Growth – Bloomberg
ECB’s Coeuré: Volatility Signals Reduced Market Liquidity – wsj
Coeure Says ECB to Moderately Front-Load QE Buying in May, June – Bloomberg
UK inflation negative for first time since 1960; BoE says temporary – Reuters
Benoît Cœuré: How binding is the zero lower bound? – europa
Roll up for the amazing Chinese stock bubble! – macrobusiness

RBA minutes dovish – macrobusiness

Where’s the Chinese iron ore restock at? – macrobusiness
N.Z. Inflation Expectations Rise, Damping June Rate-Cut Bets – Bloomberg
Interest Rate Liberalization — With Chinese Characteristics – crt
A senseless subsidy – economist



Monday 05/18

Greece’s precarious finances raise default fears – business live – guardian
Bank of America is forecasting a ‘scary summer’ for the stock market -Marketwatch
So Much For The Oil Crash: Cali Gas Price Almost Back To Year Ago Levels; Los Angeles Gallon Rises Over $4.00 – Zerohedge
Wall Street is on the verge of saying ‘recession’ – businessinsider
London-listed spreadbetting firm Plus500’s stock is bombing after freezing accounts – businessinsider
Confidence Among U.S. Homebuilders Unexpectedly Declined in May – Bloomberg
Goldman cuts crude outlook and oil company forecasts – Reuters
The rate-sensitive utilities sector is now a strong buy – cnbc
Greece’s ‘endgame’ is in sight, bond yields soar – cnbc
Bubble Blowing to Continue So Long as Yellen Isn’t Raising Rates – Bloomberg
Ratings agency Fitch to downgrade many European banks-newspaper – Reuters
Debt-Choked Puerto Rico at Fiscal Brink as Bond Buyers Pull Back – Bloomberg
Bond-Market Crash Has Wall Street Divided on What’s Next – Bloomberg
Hedge Funds Lose Faith in Oil Rally as OPEC Seen Boosting Supply – Bloomberg
Nobel Winner’s Math Is Showing S&P 500 Unhinged From Reality – Bloomberg
Ignore Monday’s USD Strength; Too Early To Short EUR/USD – SocGen – efxnews
Oil is at a make-or-break level – Marketwatch
Shape Of Greek Endgame Emerges: IMF Discussed “Cyprus-Like” Plan After Tsipras Warned Of Looming Default – Zerohedge
London House Prices Dip as Election Concerns Hit Market – Bloomberg
$120 Billion Danish Fund Clutches Onto German Debt in Price Flip – Bloomberg
Fed’s Evans: U.S. zero-rate policy stance is not too easy – Marketwatch

Watch out: Greece’s ‘endgame’ is in sight – cnbc
Greece nears ‘endgame’ as large June payments loom – Marketwatch
Tspiras Endgame Nears as Greek Bank Collateral Evaporates – Bloomberg
Thailand’s economy shows mild recovery in Q1 – Marketwatch
Singapore’s exports unexpectedly rise – Marketwatch
China April home prices fuel hopes of bottoming out, but long road to recovery – Reuters

Japan machinery orders rise, but weak outlook hampers economic rebound – Reuters
BHP Spinoff Values South32 at $9 Billion – nyt
How high can the S&P500 rocket shoot? – macrobusiness
What happens when China floats the yuan – macrobusiness
Preview: This Week’s FOMC Minutes & BoJ Meeting – Nomura – efxnews
Schedule for Week of May 17, 2015 – calculatedriskblog
Commerce to Offer New Ways to Measure the Economy – wsj
Still to soon for EUR/USD shorts – BNP Paribas – forexlive

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