Bloomberg
June 15, 2015
Kathimerini (Greece)
Sunday, June 14, 2015
Weekend negotiations between Greece and its creditors ended without any progress. The European Commission said that with no hope of narrowing the gap between both sides, the talks ended 45 minutes after they started. A Thursday meeting of eurozone finance ministers could be the final opportunity to prevent a Greek default.
Haver
June 11, 2015
Retail sales including food services & drinking places during May strengthened 1.2% (1.0% y/y) following gains of 0.2% and 1.5%. The April and March results were revised up from little-change and 1.1%. The May increase matched expectations in the Action Economics Forecast Survey.
Haver
June 9, 2015
The National Federation of Independent Business reported that its Small Business Optimism Index increased to 98.3 during May from an unrevised 96.9 in April. The reading was the highest since December.
Haver
June 9, 2015
The emerging labor shortage was evidenced by the job openings rate during April. It gained m/m to 3.7%, up from the recession low of 1.6%. It was just below the series' high of 3.8% early in 2001. The job openings rate is the number of job openings on the last business day of the month as a percent of total employment plus job openings. Failing to keep pace, however, was the hires rate. It fell to 3.5% and has been trending sideways for the last year.
Barron’s
June 15, 2015
Declining profit margins are not necessarily a negative for U.S. stock prices. After profit margins hit 9.8% in October 1950 they were cut in half over the next three years – and the S&P 500 rose 20%. Margins plunged again from 8.1% in 1979 to just 3.3% in 1986, but the S&P 500 more than doubled. It usually takes a recession for falling margins to become a problem.
Reuters
June 8, 2015
Declining profit margins are not necessarily a negative for U.S. stock prices. After profit margins hit 9.8% in October 1950 they were cut in half over the next three years – and the S&P 500 rose 20%. Margins plunged again from 8.1% in 1979 to just 3.3% in 1986, but the S&P 500 more than doubled. It usually takes a recession for falling margins to become a problem.
Bloomberg
June 10, 2015
The Federal Reserve should delay an interest-rate increase until 2016 to avoid undercutting the uneven U.S. recovery and creating problems in developing markets, the World Bank said, backing up a warning by the International Monetary Fund. Raising rates too soon risks strengthening the U.S. dollar, which could slow domestic growth.
IBD
June 15, 2015
Fed fund futures give a 53% probability that the central bank will lift rates in September.
Bloomberg
June 15, 2015
Stock forecasters in search of an early- warning system for the next Chinese bear market are zeroing in on the country’s record $358 billion pile of margin debt. When that three-year build-up of leveraged positions starts to unwind, regulators will struggle to limit the selloff, according to Bocom International Holdings Co. and Rabobank International. The securities regulator announced plans Friday to limit the amount brokerages can lend for stock trading.
BCA Research
June 10, 2015
Canada and Australia both face the grim fallout from the simultaneous end of the commodity supercycle and their own debt supercycles…While cheaper currencies, favorable demographics, and strong banking systems will soften the blow, a recession in both economies is now more likely than not. Investors should underweight Canadian and Aussie equities and position for possible further policy easing from both the Bank of Canada and the Reserve Bank of Australia.

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