Thursday, May 7, 2015

Economic News , Data and Views ( May 7th , 2015 ) - UK Elections head the list of market moving news ( updates at the blog tweet feed during the day ) ..... Global bond rout truly the story off the day - especially rout in Europe ....... Latest on Greece - snail's pace Creditor talks continue , state of play detailed overall !


Tweets....


UK Election items ....



Polls open in one of the closest races in British history














A single exit poll will be released at 10pm tonight. The poll is jointly commissioned by the BBC, ITV and Sky.








Greece....




GREECE'S PUBLIC DEBT NOT SUSTAINAINABLE, GOVT SPOKESMAN SAYS ...more bailouts needed





GREEK GOVERNMENT SPOKESMAN SAYS LENDERS CAN'T EXPECT GREEK GOVT TO BACK DOWN ON EVERYTHING IN ORDER TO REACH A DEAL





GREECE WANTS TO CONTINUE SERVICING ALL OBLIGATIONS: SPOKESMAN ...better get another bailout then






GREECE SAYS WILL PRESENT MEASURES ONLY WHEN DEAL REACHED






"There is a strong feeling within Syriza that there should be a referendum on the final agreement between Greece and the institutions"








New fiscal measures aim to edge closer to deal with lenders.






Including today's non-competitive bids of €262.5 mln, rolled over €1.4 bln 6-mon T-Bills at 2.97% this week.








Eurogroup Chairman Dijsselbloem confirms to that "it's too early to expect a final agreement" at the 11 May Eurogroup.





ECB Executive Board Member Mersch: "There've been defaults in other monetary unions without political consequences". ()





The background behind the common statement. Why was it made.





MERSCH CITES PARALLEL CURRENCY AS POSSIBLE GREEK MEASURE ....Mersch is ECB Executive Board member!!!





Broader Europe....






FYI: ECB deposit facility usage increased to €123.15 billion from €103.383 billion tuesday.




*SIEMENS TO CUT 4,500 JOBS AT UNDERPERFORMING UNITS






Almost there


Who will bail out Germany?








Bund crash draws all attention, but French bonds tumble as well. 10yr French yield jumps >1% for 1st time sine Dec.






Extend Tumble as , Sell Debt Into Market Slump







Bund sell-off becomes disorderly. 10yr yield now 18bps higher at 0.76%.







Panic selling in Bunds: Bund Future crashes.







hospital pass in long date bonds now a duration bloodbath, 2062 down 50 pts from high!









This morning





Global Bond Rout Sends Futures Tumbling, Bund Has Sharpest Two-Week Selloff In History