Wednesday, May 6, 2015

Economic News , Data and Views ( May 6 , 2015 ) -- Greece Updates ( Greece may have enough cash to fulfill financial obligations until end of June , updates on Creditor Talks ( including important dates for May / June ) that will probably last until the end of June , Greece economic data , latest political drama in Greece ) ........ Broader Europe ( bonds , currencies and oil are the key focal points , retail sales and service sector PMIs data from Europe , ECB and QE related items ,


Tweets .....


Greece....




Red lines update...


& creditors are close to agrmnt on: -VAT & tax collection -Privatizations list -Banking sector stability & NPLs ~EU srce to











Civil service reforms overturned in Greece - even as Troika seeks labor reforms ?













Deputy PM Dragasakis denies split in Greek gov't following reports he was unaware of non-paper issued by Athens before his ECB talks








No wonder negotiations will drag into June then... or even later?

Reuters is reporting that has met its €200mn payment to the , due today. But plenty of payments to go.





Greek 5yr default probability continues to rise as the blame game between and it's creditors is in full swing










The seasonally adjusted unemployment rate in February 2015 was 25.4% compared to 27.2% in February 2014 and 25.6% in January 2015









Thessaloniki Mayor Boutaris breaks ranks & transfers cash reserves so Greek gov't can cover short-term needs







Dragasakis goes to ECB to convince deal near as Greek gov't claims no deal in sight. Keep 'em guessing, boys








auctions €875 mln 6-month T-Bills. Total roll-over amount at €1.4 bln. Prev yield at 2.97% last month.




Broader Europe....




30-yr BUXL futures are set for their biggest week/week fall since the collapse of in 2008









*EURO-AREA MARCH RETAIL SALES DECREASE 0.8% FROM PRIOR MONTH - below consensus but with upward revision to Feb to +0.1% MoM







Markit/ADACI Services PMI Apr: 53.1 (est 52; prev 51.6) -Markit/ADACI Italy Composite PMI Apr: 53.9 (est 52.7; prv 52.4) ~








Markit: Activity growth in 's service sector slows further in April. Services Activity Indx 51.4 (52.4 in Mar)







More good news? Interest rates on new SME loans down in March, to new record lows in Spain (3.4%) and Italy (4.1%).








causes flash crash in Bunds. Rational trading in irrational QE game led to brutal moves.






Sell-off in bonds continue. 10yr govt bond yields of Italy and Spain spike, make fresh 2015 highs.







Ruble break through 50 as Brent moved 2% up and market long Ruble.






Global bond rout wipes out $340bn in value globally.







’s wobble may worsen as Bund yields climb, Nomura says.









US and Brent Crude rally and make fresh highs of the year as supply glut seen easing.