Global markets began a strong rally in Asia that led to upside in Europe and U.S. futures; but those gains have been pared significantly as the markets now understand that all is not well.
Yields for Italy, Spain, France, and Germany …
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Monthly Archives: June 2012
France’s Hollande Seeks $100 Billion in Stimulus Funding
The “leveraged” cash is to come from a combination of short-term growth instruments such as project bonds, reallocated EU structural funds and fresh investment capital from the European Investment Bank.
But some European diplomats have already reacted scathingly to the plan, suggesting only a fraction – about €10bn – would be “new money” designed to make the proposal an easy-to-agree “victory” for new French president Francois Hollande.
Mr Hollande submitted his ideas to EU partners and the European Council a few days ago ahead of a Group of 20 summit in Mexico today and tomorrow. Most of Mr Hollande’s proposals for the €120bn will be in a “compact for growth and jobs” to be agreed by EU leaders at a Brussels summit on June 28.
Comments »FLASH: US FUTURES HAVE MODERATED
Europe is still looking gangbusters. But US futures have been cut in half since the early euphoria.
Asian Markets Rally on Greek Vote
As Fly has so often proclaimed, the status quo will not just roll over.
The outcome of the Greek election sparked a rally in risk assets in Asia as investors were cheered by the victory of pro-bailout New Democracy party, as the results pushed up both currencies and stocks, with Japan’s Nikkei Average reaching a one-month high.
The winning party has already started informal talks with the country’s socialist party to form a new government, with a cross-party coalition likely to be formed by Wednesday.
Read the article here.
Comments »Computing Texas Hold ’em
Futures Rise after Greek Election
(Reuters) – U.S. stock index futures rose on Sunday with Greek parties that support a bailout for the country set to win a slim parliamentary majority, bringing some relief to a world braced for fresh financial turmoil.
Read the article here.
Comments »U.S Golf Open and NBA Finals Sports Flash
Risk On: Oil is Trading Higher by 1.5%
FLASH: The Euro is Trading Sharply Higher on Greek Election Hopes
Exit polls point to a positive outcome for the conservative party in Greece. As a result, the Euro is +0.7% versus the dollar.
FLASH: EUROPEAN FUTURES ARE INDICATING A +2% OPEN
FLASH: Conservative Party the Favorite to Win in Greece
Another Contrary Indicator? CNBC to Run Sunday Night Special Called: “Greek Tragedy”
“FLOP OF AGES” – Hollywood Lays an Egg to Start the Summer
…New Line/Warner Bros’ Rock Of Ages (3,470 theaters) fell to earth with a thud. Which Hollywood expected because the pic had been tracking poorly for weeks (and even went down at one point week to week). The studio felt the 1980s period piece was a hard sell to younger moviegoers…
via deadline.com – Read the rest here
Comments »BIG BROTHER TO THE NORTH- CANADA WIRES AIRPORT TO EAVESDROP ON CONVERSATIONS
Sophisticated cameras and microphones will put passengers at the Ottawa airport under greater scrutiny than ever before.
Photograph by: Mike Carroccetto , The Ottawa Citizen
OTTAWA — Sections of the Ottawa airport are now wired with microphones that can eavesdrop on travellers’ conversations.
The Canada Border Services Agency (CBSA) is nearing completion of a $500,000 upgrade of old video cameras used to monitor its new “customs controlled areas,” including the primary inspection area for arriving international passengers.
As part of the work, the agency is introducing audio-monitoring equipment as well.
FLASH: GREECE TOO CLOSE TO CALL
Greek Vote Too Close to Call, Exit Poll Shows
UPDATE:
Here is a more detailed breakdown of Greek exit polls, as broadbast by state-run NET TV
Political Party Percentage
New Democracy 27.5 – 30.5
Syriza 27 – 30
Pasok 10 – 12
Independent Greeks 6 – 7.5
Communist Party 5 – 6
Golden Dawn 6 – 7.5
Democratic Left 5.5 – 6.5
Rodney King, at Center of 1992 L.A. Riots, Dies at Age 47
via TMZ.com
http://www.youtube.com/watch?v=0w-SP7iuM6k&feature=player_embedded
Famous tape of LAPD beating King which sparked riots in L.A. after not guilty verdicts of the police officers.
EXCLUSIVE
UPDATE 9:27 AM PT — According to our sources, King’s fiancée is telling friends King had been drinking and even smoked weed in the hours just before his death.
Rodney King — the man who was at the center of the infamous Los Angeles riots — was found dead this morning in Rialito, CA. He was 47.
According to our sources, King’s fiancée found him dead at the bottom of a pool.
Rodney King‘s fiancée is telling friends Rodney had been drinking all day Saturday … and had smoked weed in the hours leading up to his death … sources close to King tell TMZ.
According to our sources, King’s fiancée, Cynthia Kelley, is telling friends King was at the house all day drinking, and he smoked marijuana at some point, before she went to went to bed at 2:00 AM.
We’re told Kelley says she next saw King at around 5:00 AM when she was awoken by him screaming in the backyard. Our sources say Kelley found King naked, banging on the glass, and she called out to him, “What’s wrong, Rodney?”
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Persistence Is Learned from Fathers, Says Study
A Normal Person’s Guide to the Big Fat Greek Election
How Shock Waves Will Hit US if Greece Drops Euro
The Number of U.S. Oil Rigs Has Increased by 7X in 3 Years, Bringing U.S. Production to a 14-Year High
Mark J. Perry has published some very surprising charts showing the increase in U.S. oil rigs. His analysis is also worth a read:
Notice also that there was no national energy policy that facilitated the switch, and neither politicians nor the Department of Energy was involved; it happened naturally and automatically due to the economic principles of market prices, profit maximization, and the invisible hand.
Read the article here.
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