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- UK Analysis: Claimant Count Posts Further Sharp Fall In May
- UK May jobless claims -30,900
- Spanish/German 10-year government bond yield spread widens to 218 bps, near record high hit June 8 – Tradeweb
- Cable slips slightly in early European trade
- BOE Offers Unltd Usd In 7-Day Repo, Fixed Rate 1.17%
- ECB: E57.467 Bln Covered Bond Purchases Settled Jun 15
- EU Commission denies report that EU, IMF and U.S. Treasury drawing up liquidity plan for Spain
- France To Raise Retirement Age To 62, In Major Pension Reform
- French govt proposes gradually raising minimum retirement age to 62 from 60
- Japan Average Regular Gasoline Price Drops For 3 Wks In Row
- BOJ June Report: Japan Econ Recovery Scenario Remains Intact
- Bank of England to cap mortgages
- Spain plays high-stakes poker game with Germany as borrowing costs surge
- IMF chief economist: It is in China’s interest to revalue the yuan
- EUR/USD confined to extremely narrow range in Asia
- ForexLive Asian market wrap: majors trade in 30-pip ranges again
- Pimco- new normal for economic growth
- Australian PM: headline rate for new mining tax about right
- Latest Japanese wage and employment data continues to show gradual improvement
- Around the markets: stocks up by over 1% on average
| UK Analysis: Claimant Count Posts Further Sharp Fall In May Posted: --May claimant count unemployment -30,900; rate 4.6% --Feb-Apr ILO unemployment +23,000 q/q; rate 7.9% --Apr total weekly earnings +4.2% 3m y/y vs +4.3% in Mar --Apr regular weekly earnings +1.9% 3m y/y vs +2.0% in Mar LONDON (MNI) - Claimant count unemployment posted a further sharp decline ...    |
| Posted: Better than median forecast of -20,000. Claimant count rate 4.6%, better than median forecast of 4.7% and lowest rate since April 2009. ILO jobless +23,000 in 3 months to April, rate 7.9%, better than median forecast of 8.0%. Cable has seen moderate rally in wake of data, presently up at 1.4780 from around ...  |
| Posted: Portuguese/German 10-year government bond yield spread widens to 312 bps, highest since May 10 Fitch Director says breakup of eurozone is remote risk but is not Fitch's central view. UPDATE: Spanish/German 10-year government bond yield spread widens to 222 bps, euro lifetime high.  |
| Cable slips slightly in early European trade Posted: Cable has given up a little ground in early European trade, presently down at 1.4785. This morning we have jobs data at 08:30 GMT: UK May jobless claims expected -20k; claimant count rate expected 4.7%; ILO unemployment rate 3-mnths to April expected 8.0%. We've got Merve the Swerve at the Mansion House tonight (19:45 GMT/20:45 ...  |
| BOE Offers Unltd Usd In 7-Day Repo, Fixed Rate 1.17% Posted: LONDON ((MNI) - The Bank Of England said Wednsday it was offering an unlimited supply of U.S. dollars in a 7-day repo operation, settlement date June 17 maturing June 24 2010. The Bank said the repo would be at a fixed-rate, with the ...  |
| ECB: E57.467 Bln Covered Bond Purchases Settled Jun 15 Posted: FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E57.467 billion Eurosystem covered bond purchases had settled as of June 15. As of June 14, settled acquisitions had totaled E56.878 billion, the ECB said Tuesday. The ...  |
| EU Commission denies report that EU, IMF and U.S. Treasury drawing up liquidity plan for Spain Posted: EUR/USD sits at 1.2333, where it was when I turned up 3 hours ago.  |
| France To Raise Retirement Age To 62, In Major Pension Reform Posted: --Also To Raise Upper Income Tax Bracket 1 Point To 41% PARIS (MNI) - France's government today unveiled a plan to reform the nation's retirement system, including a controversial increase of two years in the legal retirement age, from 60 to 62, and a hike in ...  |
| French govt proposes gradually raising minimum retirement age to 62 from 60 Posted: Proposes raising income tax rate for top earners to help pay for pensions deficit Aims to balance state pension accounts by 2018, align private and public pension regimes Proposes raising withholding tax on investment income by 1% to fund pensions  |
| Japan Average Regular Gasoline Price Drops For 3 Wks In Row Posted: TOKYO (MNI) - The average price of regular gasoline in Japan this week fell to Y137.5 ($1.50) per liter, or $5.70 per gallon, from Y138.3 last week, posting the third consecutive weekly drop, according to data released by the Oil Information Center on Wednesday. ...  |
| BOJ June Report: Japan Econ Recovery Scenario Remains Intact Posted: TOKYO (MNI) - The Bank of Japan on Wednesday maintained its cautious optimism, repeating that the economy should continue recovering moderately, weathering financial market fluctuations caused by European debt problems. In its monthly report, the BOJ left its overall economic ...  |
| Bank of England to cap mortgages Posted: House buyers could be refused mortgages under new Bank of England powers.  |
| Spain plays high-stakes poker game with Germany as borrowing costs surge Posted: Latest from AEP at The Telegraph.  |
| IMF chief economist: It is in China’s interest to revalue the yuan Posted: Important for rest of world that China revalues as quickly as possible No doubt global economy recovering, pace has been faster than expected  |
| EUR/USD confined to extremely narrow range in Asia Posted: EUR/USD presently sits at 1.2330, where it closed out the North American session Tuesday, with the Asian trading session a non-event. Not too sure how much better things are going to get this morning in Europe. Maybe we can hope for a few tape bombs to get things going. Precious little on the economic ...  |
| ForexLive Asian market wrap: majors trade in 30-pip ranges again Posted: For the second day in a row we have had ultra quiet trading conditions here in Asia, with the Chinese holidays probably to blame UK consumer confidence falls sharply Australian unit dwelling starts +4.3% Rio Tinto: mining tax has destabilised investment framework Japanese wages and employment data shows further slight improvement Russia considering adding CAD ...  |
| Pimco- new normal for economic growth Posted: Thanks to Solange for the link to CNBC and Mohamed El-Erian of Pimco who is giving his view on where the world economic recovery is at. More 'square-root' shaped than v-shaped with the economy levelling off at 2% growth or thereabouts.  |
| Australian PM: headline rate for new mining tax about right Posted: But he will consider differing requests from the mining sector on the tax. Obviously still a fair bit of negotiation to happen here still.  |
| Latest Japanese wage and employment data continues to show gradual improvement Posted: Average wages increased slightly for the second month in a row and the level of full-time employment showed a slight rise yet again.  |
| Around the markets: stocks up by over 1% on average Posted: The Nikkei is +1.5%, Sydney +0.9% and Seoul is +0.7%. Gold is steady at $1234/oz and oil is holding on to the gains made overnight, currently trading around $77/bbl. The FX market has been a complete and utter waste of time today with the majors messing around in 20 pip ranges.  |
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