Markets & Market Moving News....
#ECB’s Coeure: Credit easing via 4yr TLTRO's more important than negative rate. https://www.ecb.europa.eu/press/inter/date/2016/html/sp160519_1.en.html …
Good analysis from Mish. Nothing in the data to date , suggests a June interest rate hike is warranted. Fwiw.
Fed angst pushes Dollar higher. Gains in Greenback haven been bad news for stocks this year. http://bloom.bg/1szMc2e
S&P 500: 4% pullback from the April 20 high. How this compares to the 19 prior corrections since Mar '09. $SPX
Fathom: Hawkish FOMC Minutes leads us to believe that Fed likely to raise rate by July, & probably again in December
French Unemployment Rate stabilized at 10.2% in 1Q BUT in 2013 the UR for Eurozone was 2 full ppts >France. (via AP)
Europe In Focus .....
Poland.......
Poland defies EU..
Ukraine.......
#Poroshenko accused of transferring cash to #offshore despite a ban of National Bank http://bit.ly/1Tqn9al
#IMF may unlock bailout funds for Ukraine in June http://on.rt.com/7d03
France......
UPDATE: EgyptAir Flight MS804 was destroyed instantly, flight data shows: http://thebea.st/1U2aFmh
Has ISIS already followed through on terror threat to France or just the opening Salvo in next round of attacks?
Huge demonstration against #Loitravail, burning tires blocking access to the city, Le Havre - France.
EgytptAir A320 missing , 66 passengers on board = Flight from Paris to Cairo...
Greece.....
Some tidbits from the IMF today...
IMF: we welcome the beginning of the debt discussions
IMF: we have not yet finalized our new DSA, what we presented in EWG is our preliminary debt analysis
IMF:achieving 3,5 is very ambitious target, it is unrealistic to sustain it for many years, leads to too much austerity, we don't want that
Split between IMF and EZ on debt relief ( in this instance timing and certainty of same ) continues.
It remains unclear whether Greek leaders will have any say or how Plan B would reduce migrant flows to Europe.
Senior finance ministry officials discuss ways to make Greece’s 321 billion euros of obligations sustainable.
Austria......
Note Tweets from Alberto Nardelli....
I'm hearing in Strasbourg that TTIP deal is as good as dead: both Austria's Presidential hopefuls anti & can veto, if Hollande doesn't first
Compromise spares Austrian region bankruptcy http://www.euractiv.com/section/euro-finance/news/compromise-spares-austrian-region-bankruptcy/ …
EU-Turkey......
End of June deadline seems set to be missed. Both EU & Turkey believe ball is on other side's portion of the field.
Key numbers on Bill to strip immunity - 367 (to become law), 330 (Bill goes to referendum) , 348 - present support.
Odds & Ends .......
Lebanon nixes UN Refugee Plan...
REPORT: YPG blocks trucks transporting fuel into Idlib province, creating shortage.
http://syriadirect.org/news/ypg-blocks-trucks-transporting-fuel-into-idlib-province-creating-shortage/ …
NATO allies divided over bigger role in stabilizing #Libya
http://www.reuters.com/article/us-nato-foreign-libya-idUSKCN0YA1RO …
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