This week’s focus will shift back to
Europe with the EU summit just days away. Earlier today, Spain requested
a bailout package of €62 billion to prop up its banking sector. The
request follows last week’s independent audits that indicated
Spain would need about that much to avoid a collapse. Earlier this
month, the EU had pledged up to €100 billion to help Spain’s financial
industry. Yields on Spain’s benchmark 10-year bonds have fallen to
~6.5%. The EU summit gets under way on Thursday as
leaders of the 27 member union will work out details of €125 billion
worth of “growth-enhancing policies” announced by Germany, France, Italy
and Spain in a meeting between those countries that took place last
week. They’ll probably also look to discuss Cyprus’
recent credit downgrade and the possibility that Cyprus will need a
bailout too. On tap for U.S. markets today is new home sales data from
May. Sales are expected to jump by 7,000 from Aprils 343,000. Have a
great day!
|
Metals
|
Last
|
%Change
|
Low
|
High
|
|
Au-Aug
|
1572.7
|
0.37%
|
1566.9
|
1577.3
|
|
Pt-Jul
|
1434
|
0.19%
|
1429.0
|
1441.6
|
|
Pd-Sep
|
606.65
|
-0.09%
|
606.20
|
612.35
|
|
Ag-Jul
|
26.735
|
0.27%
|
26.565
|
26.910
|
|
London
|
AM
|
PM
|
Minor
|
PGMs
|
|
Au
|
1569
|
|
Rh
|
1250
|
|
Pt
|
1436
|
1434
|
Ru
|
115
|
|
Pd
|
609
|
606
|
Ir
|
1100
|
|
Ag
|
26.72
|
DJI
|
12513.33
|
-1.01
|
|
Currencies
|
|
|
|
|
|
|
USD
|
EUR
|
JPY
|
GBP
|
|
USD
|
0
|
0.8005
|
79.615
|
0.6428
|
|
EUR
|
1.24874
|
0
|
99.419
|
0.80311
|
|
JPY
|
0.01253
|
1.00558
|
0
|
0.00807
|
|
GBP
|
1.55483
|
1.245
|
123.797
|
0
|
|
|
|
|
|
|
|
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
|
|
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