Monday, May 18, 2015

Economic News , Data and Views ( May 18 , 2015 ) - After Denying A Plan B For Greece - IMF Discussed Cyprus Like Plan for Greece , Additional Items Of The Morning Touching On Greece , Bonds , Broader Europe and Asia highlights !



EC proposal also provides funding for GR in June !

EC Proposals on GR Situation on primary surplus ( 2015/2016 , 2017-2018 ) , Fiscal measures of 5BN !

Financial Times: IMF Considers Presenting Greece with ‘Cyprus-Like’ Proposal

Greek govt spokesman rules out signing a 3rd bailout


At midday presser, being v careful on at Riga summit, but clearly signalling that's not place for a bailout deal

must reform to avoid insolvency, 's Bundesbank warns.

's 2yr yields jump >22% as Greek endgame nears.

How long can carry on? There’s not much left over to make even small(ish) payments due to in June. (BBG)

Greek 2-year yield now through 24% +300bps today. Ugly.

Greek 2-year yield +155bps

Shape Of Greek Endgame Emerges: IMF Discussed "Cyprus-Like" Plan After Tsipras Warned Of Looming Default

Call for "rupture now" by the Political Secretariat & Central Committee of

bonds plunge by the most since Feb. 5 on worry banks running out of collateral

Broader Europe.....

LOL of the day: monetary policy not hurting savers, ECB's Bindseil says in interview w/ Handelsblatt.

rises to ¥136.89, highest level since Jan.

Bond market calm didn't last long. Italian bonds below...

Morning Note: 1. Tsipras defiant. 2. BHP's South32 valuation disappoints. 3. Fed's Evans talks down 2015 hike. Meh.

AUD weakened O/N following suggestions from the RBA that rates could be cut again. NZD weakened after NZ's announcement of tighter tax rules

Chart: China's short-term rates continue to fall, with the 7-day repo now below 2%.