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 !


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Greece.....



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





GREECE WON'T IMPOSE DEPOSITOR BAIL-IN, GOVT SPOKESMAN SAYS








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%.