1. I posted this on the European GDP divergence from the front page of the Financial Times and it caused a bit of excitement on Twitter...
2. China – the Shanghai index closed below the key 4k level. Meanwhile perhaps because of headlines like ‘Chinese investors blame share collapse on state’ margin requirements are eased. Check out why130% of limits are no longer a worry at this link
Meanwhile I liked this...is c. 3,500 the buying point? Hmm.
3. I wrote on a couple of European stocks as in the pre Independence Day holiday in the US there was hardly any direct equity action in the US. First Electrolux who suffered a potential legal reversal to their hopes of striking a US deal (link here)...
4. ...and then on the K+S / Potash Corp I listened to the conference call when the management of the former formally rejected the bid approach of the latter. A full review here.
5. And finally...NFP numbers were consensus-like (and hence a touch disappointing) but continued to show gains in a lowly volatile manner...
...but the real focus was on the lacklustre wage numbers. Do you really believe that US interest rates are going to rise now?
Bonus write-up on a couple of excellent interviews by Bloomberg TV with key Greek policy-makers. Here are my notes from the interview with Mr Varoufakis the finance minister. It seems pretty obvious to me that either you compromise/introduce concepts like a debt restructuring or there is a big problem (as I detailed in my latest Yahoo Finance Contributors column earlier in the week (link here):
Greek finance minister #Varoufakis tells @BloombergTV: The Greek banks will open next Tuesday as planned.
'profound difference with what happened in Cyprus...political crisis, nothing to do with the banks'
#Varoufakis on @BloombergTV: 'Europe making up rules as they go along'. After the flip-flop of Greece's govt last 48 hrs a bit rich!
#Varoufakis 'if "yes" we will sign the deal...we are unreconstructed democrats'. "No" - start negotiations again and ultimately sign a deal
#Varoufakis is absolutely right got to 'end this'. Kicking can bonkers. 'I won't sign another extend and pretend...but won't scupper it'
VAROUFAKIS: WILL QUIT IF YES VOTE
#Varoufakis 'ever so close' re compromise...'has to be made sustainable'. He has a fair point here.
I prefer to cut my arm off than to sign a deal without debt reorganisation
He's correct about the debt reorg. Any deal doesn't involve it feels unsustainable. Ditto #Ukraine #PuertoRico
Postscript: Just saw this from the Greek PM...the rhetoric debate goes on! I think the practicalities post referendum are pretty clear though...