Thursday, 9 July 2015

A few macro and related stories today...

A few macro and related stories today...

Greece - Lagarde: Debt restructuring is needed in Greece raising again big differences in opinions between the IMF and European institutions re Greece

Greece #2 – ESM proposals due to be submitted by close today ahead of big discussions Fri-Sun. Greek Bank Holiday extended to Monday, withdrawal limit held at €60.  Also chat that ‘Some Large Greek Banks Face Possible Closure, Or Merger With Peers After A Bailout For Greece’.  Clock ticking…

Interesting on Greek money printing location from today’s FT (maybe very relevant soon...)

Europe - ECB is getting a new website on Friday. Surely bigger things to be worried about!

China – volatile market today but currently up sharply helped by short ban, exhortation for state-linked firms to buy not sell shares etc. Also statistics like this being quoted: 'free float value of Chinese markets about a third of GDP. Less than 15% of household financial assets are invested in the stockmarket' :-)

Puerto Rico – good read: “Athens on the Caribbean - Puerto Rico's Own Financial Crisis”.  Nice link here.  

Oil – into bear market via this excellent Bespoke Invest chart: 

Technology adoption rates – wow! 

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