1. Hedge fund net long exposure striking. Going to mark the top of the market?!
2. Did you see what the Australian steel and related building materials company Bluescope said earlier today?:
Harsh words indeed on dumping and overcapacity...but let's face it close to the reality we have all been observing about China: there is still much reform/consolidation requirement in the secondary industries.
3. HSBC may have pulled back the company’s forward-looking RoE target...
...but I still perceive some value in the shares.
4. So it looks as if Greece missed its submission deadline...or maybe not:
@AmbroseEP: Greece did not miss its deadline. The proposal was held up in Brussels. Whether this plan will really fly is a big question
5. Meanwhile in Ukraine:
The price of Ukraine's $500m bond maturing later this year has tumbled to just 46.8 cents on the dollar, equal to an annualised yield of almost 200 per cent. The $2.6bn security due in 2017 fell to 42.3 cents on the dollar – for an annual yield of 55.2 per cent