6th July Links: New lows at the ECB

Global Macro:

• ECB drops rates by 25bps, deposit rate now at 0% ECB. Introductory statement here
• BoE and China hit together again FTAlphaville
• Summary of all action here Business Standard
• Greece drops demand to ease bailout terms FT
• Wall Street Bank Investors In Dark On Libor Liability Bloomberg
• The cacophony of markets ZH
• Libor rate scandal set to spread WSJ

United States:

• Weekly initial jobless claims at 374k, last weeks revised up to 388K CalculatedRisk
• ISM non-manufacturing index indicates slower expansion in June CalculatedRisk
• What are we expecting from housing ? Tim Duy

Europe:

• Finland contests seniority clause in Spanish bailout Bloomberg
• Euro Bank Supervisor Faces Hurdles (WSJ)
• Danish central bank now has negative deposit rate DNB
• Spain’s banking crisis moves into the courtroom NYT
• Wolfson economic prize, the submissions FTAlphaville

Asia