Global Macro:
- Moody’s said to be poised to announce bank downgrades today (Bloomberg)
United States:
- Existing Home Sales in May: 4.55m, 6.6 months of supply ( Calculated Risk)
- Unemployment Claims little changed, 4-week avg hits high (Calculated Risk)
- Philly Fed Reports Weaker Mid-Atlantic Business Conditions (Wall Street Journal)
- Citigroup Faces $5 Billion Hit on Dollar’s Rise (Bloomberg)
- Euro business activity shrinks and U.S., China output slows (Reuters)
- Goldman Goes Short The S&P 500: 1285 Target (Zero Hedge)
- Philly Fed factory activity contracts again in June (Reuters)
- Existing home sales fall 1.5 percent in May (Reuters)
- U.S. manufacturing grows at slowest pace in 11 months: Markit (Reuters)
- US jobless claims edge down to 387,000 (Financial Times)
- Philly Fed survey overview charts (Charts)
Europe:
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- German growth deal enables ESM, fiscal pact approval (Reuters)
- Greece Faces Downgrade to Emerging-Market Status by MSCI (Bloomberg)
- Greece on review for move to emerging markets (Reuters)
- Spain sells 5-year bonds at record yield (Financial Times)
- Cyprus To Ask for EFSF Aid Next Week (eFXnews)
- Koo on German bubbles (FT Alphaville)
- Europe’s Economic Implosion In One Chart (Zero Hedge)
- Property market rebounds in May (BBC News)
- EU leaders to vow July 9 start for ESM permanent bailout fund (Reuters)
- German deal on EU fiscal treaty (BBC News)
- UK Banks Downgrade By Moody’s Imminent (Zero Hedge)
Asia:
- China makes it easier to buy equities | beyondbrics (Financial Times)
- PMI is fresh sign of weakness in Chinese economy (Financial Times)
- Are the boom times over for Hong Kong? (Chart)
- Asia’s Downside Risk And The Three Big Hopes (Zero Hedge)
- China’s slowing deepens gloom (The Australian)
- NZ growth spurt can’t go on (AFR)
- Signs China braked too hard (AFR)
Local:
- Rising rents push families to fringe (AFR)
- Productivity critical (AFR)
- Survey shows non-miners struggling (AFR)
- Household conservatism may hurt growth (AFR)
- Census shows how mining boom is reshaping Australia (AFR)
- Pay increases fail to match rents, mortgages (Fairfax)
- What housing policy (Fairfax)
- ABC’s Kohler embroiled in conflict of interest claims (Fairfax)
- Home owners stay put as affordability worsens (Fairfax)
