June 14. S&P cut the credit rating of Greece to CCC, worst in the world.

June 14.  S&P cut the credit rating of Greece to CCC, worst in the world.  ESU promptly made a new low but quickly bounced. Illinois, wondering what it has to do to get noticed by the rating agencies, is considering corporate ads on license plates.

–China again increased bank reserve ratio as inflation rose to 5.5.

–Today’s news includes PPI expected +0.1 from +0.8, with Core expected +0.2.  Retail Sales expected -0.3%, but +0.3 ex-autos.  Bernanke speaks on debt ceiling in the afternoon.

–Only $2.5-$3.5 billion POMO today in 1-2 year, but tomorrow and Thursday $8-10 billion 5 yr part of curve.

Posted on June 14, 2011 at 12:11 pm by alexmanzara · Permalink
In: Eurodollar Options

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