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- Spain treasury sells 3509 mln 12-month bills, 1529 mln 18-month bills
- France To See Automatic Second-Round Effects On Minimum Wage
- Spain Q1 house prices fall 2.5% from previous quarter
- Greece denies newspaper report it asked for debt restructuring – Greek FinMin source
- Greece asked EU/IMF to restructure debt at Ecofin
- Germany’s Total Tax Revenue Up 16.5% Y/Y In March; Press
- Will Spain be a Domino or a Dam?
- Interest rate rise could push inflation higher, warns Item
- Moody’s downgrades Irish bank ratings
- MNI Survey: Japan Feb Tertiary Index Seen +0.1%, 2nd Rise
- EUR/USD trades easier during Asian session
- True Finns leader Soini says new government may include the 3 biggest parties, possibly more
- ForexLive Asian market wrap: EUR loses ground on debt woes and Finnish election
- US NABE Survey Finds Rising Infl Pressures as Econ Recovers
- US DATA: NABE Apr industry survey of 72 members……
- JAPAN DATA: Japan’s Consumer Confidence Survey index.
- AUD/USD orders
- Around the markets
- Japan Feb Avg Wages Unrevised +0.3% Y/Y But Base Wages Dip
- EUR/JPY bounces back
| Spain treasury sells 3509 mln 12-month bills, 1529 mln 18-month bills Posted: 12-month bid to cover ratio 1.6, down from previous 2.4 18-month bid to cover ratio 2.0, down from previous 3.5 Middle of indicative range of 4.5-5.5 bln 12-month average yield 2.770%, up from previous 2.128% 18-month average yield 3.364%, up from previous 2.436% Not terribly edifying. EUR/USD touch lower at 1.4330.    |
| France To See Automatic Second-Round Effects On Minimum Wage Posted: PARIS (MNI) - The recent pick-up in French inflation sets the stage for an exceptional hike in the minimum wage in coming months following the 1.6% increase in January. Taking account of the 0.8% jump in consumer prices in March, ...  |
| Spain Q1 house prices fall 2.5% from previous quarter Posted: Fall 4.6% from a year earlier.  |
| Greece denies newspaper report it asked for debt restructuring – Greek FinMin source Posted: EUR/USD bounces to 1.4335 from session low 1.4302 on rebuttle. Greek 5 year cds rise to 1220 bps, up 84 bps on day Portuguese 5 year cds rise to 625 bps, up 26 bps on day Irish 5 year cds rise to 595 bps, up 28 bps on day Spanish 5 year cds rise ...  |
| Greece asked EU/IMF to restructure debt at Ecofin Posted: Greek newspaper citing senior IMF source. EUR/USD down at 1.4325. Greek daily Eleftherotypia is reporting that Greece told IMF/EU earlier this month that it wants to restructure its debt. Paper says discussions on the issue to start in June. The paper says "The government's request was conveyed by Finance Minister George Papaconstantinou at ...  |
| Germany’s Total Tax Revenue Up 16.5% Y/Y In March; Press Posted: BERLIN (MNI) - German tax revenue rose strongly for the third month in a row in March, German business daily Handelsblatt reported Monday citing government sources. Total tax revenue excluding local taxes rose 16.5% on the year in March, the ...  |
| Will Spain be a Domino or a Dam? Posted: Irwin Stelzer in the WSJ  |
| Interest rate rise could push inflation higher, warns Item Posted: Raising rates too soon could actually worsen Britain's inflation problem according to the Ernst & Young Item club, which has identified a "perverse" danger tied to an early move.  |
| Moody’s downgrades Irish bank ratings Posted: First the country and then the banks. As expected. Allied Irish, EBS and Irish Life & Permanent are rated Ba2 Bank of Ireland rated Ba1 Outlook on long-term bank deposit and unguaranteed senior unsecured debt rating of Irish banks is negative  |
| MNI Survey: Japan Feb Tertiary Index Seen +0.1%, 2nd Rise Posted: -- See Separate Table For Details TOKYO (MNI) - Japan's tertiary industry index, which measures spending in the service sector, appears to have risen a seasonally adjusted 0.1% on month in February, posting the second consecutive monthly gain, the median forecast by economists in a Market ...  |
| EUR/USD trades easier during Asian session Posted: EUR/USD sits at 1.4378, down from North American close Friday around 1.4435, having been as low as 1.4348 during Asian trade. Reports IMF believes Greek debt is unsustainable, and that Athens should consider restructuring by next year, haven't helped the single currency. The strong showing by the True Finns in the ...  |
| True Finns leader Soini says new government may include the 3 biggest parties, possibly more Posted: Expects first contact for coalition talks this week Confident EU bailout package for Portugal will be changed  |
| ForexLive Asian market wrap: EUR loses ground on debt woes and Finnish election Posted: True Finns win 19% of Finnish vote, raising doubts about whether Finland will approve Portugese bail-out ECB Nowotny: Tightening expectation well founded German FinMin: Talk of restructure of Greek debt minsinformed Rightmove UK house prices +1.7% MoM New Zealand CPI slightly below expectations at +0.8% QoQ China March home prices +5.2% YoY, down from 5.7% previous ...  |
| US NABE Survey Finds Rising Infl Pressures as Econ Recovers Posted: By Steven K. Beckner WASHINGTON (MNI) - The economy continues to recover despite soaring oil prices and other downside risks, but it also faces rising inflationary pressures, according to a National Association for Business Economics industry survey released Monday. The survey ...  |
| US DATA: NABE Apr industry survey of 72 members…… Posted: US DATA: NABE Apr industry survey of 72 members finds increased hiring, sales and profits, as well as improved expectations for the future. The highest percentage of respondents (35%) reported an increase in pricing since the Oct'08 survey, and 16% report rising labor costs. See story on the MNI Main wire.  |
| JAPAN DATA: Japan’s Consumer Confidence Survey index. Posted: JAPAN DATA: Japan's Consumer Confidence Survey index for March, due out at 1400 JST (0500 GMT) on Tuesday, is expected to have plunged in the wake the March 11 disaster. The Economy Watchers' Survey index for current economic conditions, another piece of government data measuring sentiment, tumbled in March ...  |
| Posted: Barriers reported at 1.0600 Decent sized stops reportedly building above 1.0610  |
| Posted: The Nikkei is -0.2% but HK is +0.5%, as is Shanghai, and Sydney and Singapore are +0.3%. Gold is steady on the day at $1486/oz after posting new record highs earlier and Oil -0.5% at $109/bbl. The FX market has gone quiet in the last few hours and will likely remain so until ...  |
| Japan Feb Avg Wages Unrevised +0.3% Y/Y But Base Wages Dip Posted: -- Japan Feb Avg Wages Post 12th Y/Y Rise In Row; Jan +0.4% -- Japan Feb Avg Base Wages Revised -0.4%, 2nd Drop In Row -- Japan Feb Real Average Wages Unrevised +0.1% Y/Y; Jan +0.2% -- Japan Feb Bonuses, Other Special Pay Revised +36.3% Y/Y; Jan +12.0% -- ...  |
| Posted: After posting a session low at 118.92, EUR/JPY has run out of momentum and has bounced 50 pips. I suspect that Europe may open with a bearish view of the single currency so any intraday bounces in EUR/USD will probably meet with long liquidation. USD/JPY has pulled up shy of ...  |
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