Things that can move U.S.:
- Asian stocks higher: Jpn +.86%, China +1.35%, HK -.31%, Twn +1.69%
- Japan GDP +4.1% vs +3.5% expected, prev revised to +0.1% from -0.7%
- Japan GDP deflator -1.2%, -1.9% previous
- Singapore GDP flat at 1.6%, slightly below 1.8% expectations
- Hong Kong unemployment rate 3.3% vs 3.5% expected, 3.4% previous
- Europe stocks steady: Eurostoxx -.29%, Dax -.2%, FTSE -.45%
- Greek stocks to new lows, though modest decline; ASE -3.5 to 559.1
- Spain GDP -0.4%, as expected, unchanged from previous quarter
- IMF's Lagarde says Greek exit "within range of multiple options"
Stocks were rangebound but jumpy overnight and waiting for news on Greece. Amidst that backdrop Spain came to market with 3-year bonds, selling EUR 2.49 billion at 4.375% vs the 2.89% it paid just last month.
The talk of a Greek exit continues, with a new election set for June 17. In the meantime, interest payments fall due, and now EUR 72 billion have been withdrawn from Greek banks, with a reported EUR 165 billion remaining. Despite it all, markets remain calm for the moment.