Wednesday, June 9, 2010

Flash Crash

Economic announcements :
* Thursday: New jobless claims: consensus of 448k, have been essentially flat for the past few weeks
* Friday: Retail sales

* Gold above $1250 for the first time (UK credit rating, hedge against weaker euro, inflation)
* Monday: Bernanke cautiously optimistic (US recovering at a "moderate" pace)
* Fitch warned UK faced "formidable" challenge to keep its AAA rating
* FTSE Eurofirst 300 down 1% to 979.44 on sovereign debt contagion concerns

* EU finance ministers are moving ahead with plans for a bank Levy; currently being resisted by the UK.
* RBS nearing the close of selling its commodities and private equity business (expecting 4bn)

* May 6 'flash crash'


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