Saturday, March 28, 2015

Economic News and Views ( March 28 , 2015 ) - Greece heads into a critical weekend as the latest Reforms List is reviewed by Creditors .....Latest Update On Austria Banking mess ( H/T Frances Coppola ) End of the month/ quarter positioning or something else ( Specs very short on gold / GBP / Europe ) ......Sareb in focus ...... China Banks in focus as bad loans soar



Tweets.....






What do you do on a train to Carlisle? Why, write about the Austrian Fannie Mae, of course: h/t








PM Tsipras interview in : Rift with corruption, agreement w Eurozone. I'm not discussing 3rd bailout























| Brussels Group mtng not going well, reports. If no breakthrough until 2moro, Greek Econ Cabinet mtng Sunday pm critical








Greek reform list met with skepticism by Troika.









| Brussels Group discussions positive, although there are disagreements ~Greek gov't official










Greek banking system continues to bleed deposits, at least €3bn leaves in "first weeks" of March







govt's reform list under discussion with Brussels Group sees 13 major actions, reports: 1.…


























































did a great job so far: Greek Reform Deadlock Creates Extra €10-20bn Fund Gap, BBG reports citing Der Spiegel.






Fitch cuts 's rating to CCC, 3 notches above default, on uncertainty over aid release.









Fitch:it is likely Eurogroup will want the govt 2 demonstrate they have implemented some part of this list before funds r disbursed







Fitch: We expect that govt will survive the current liquidity squeeze without running arrears on debt obligations





Andreas Lubitz wanted do something 'that would change the system', ex-girlfriend says













positioning has declined dramatically. Specs now very short Gold.








positioning hits an all-time short. Specs increase thier net shorts to 220,963 contracts









Specs are close to the shortest GBP they have been since August 2013. (via JPM)
















China's Banks Cut Dividends Amid Rising Bad Loans, Expectations Of Falling NIM