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 http://dlvr.it/9sPyj8 #GreekNews
Greek govt spokesman rules out signing a 3rd bailout
GREECE WON'T IMPOSE DEPOSITOR BAIL-IN, GOVT SPOKESMAN SAYS
Manos Giakoumis retweeted
At midday presser, @MargSchinas being v careful on #Greece at Riga summit, but clearly signalling that's not place for a bailout deal
#Greece's 2yr yields jump >22% as Greek endgame nears.
How long can #Greece carry on? There’s not much left over to make even small(ish) payments due to #IMF 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 http://www.zerohedge.com/news/2015-05-18/shape-greek-endgame-emerges-imf-discussed-cyprus-plan-after-tsipras-warned-looming-d …
The Greek Analyst retweeted
#Greece bonds plunge by the most since Feb. 5 on worry banks running out of collateral
LOL of the day: #ECB monetary policy not hurting savers, ECB's Bindseil says in interview w/ Handelsblatt.
#Euro 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%.