THE WEEKLY GLOBAL INVESTOR: 21/06/2009

vendredi, juin 26, 2009

jeudi, juin 25, 2009

BRITISH AIRWAYS: 7,000 EMPLOYÉS ACCEPTENT DE GAGNER MOINS!

7 000 employ�s de British Airways acceptent de gagner moins - L'�conomie en crise - Le Monde.fr: "7 000 employ�s de British Airways acceptent de gagner moins"

MÉXICO: ¿CÓMO VA HOY?..(Jueves, junio 25, 2009)

MERCADOS MEXICANOS-�Qu�dicen los analistas? 25 de junio
| Titulares
| Reuters: "MERCADOS MEXICANOS-�Qu�dicen los analistas? 25 de junio"

FED TRIMS EMERGENCY LENDING PROGRAMS AS CRISIS WANES!

Fed Trims Emergency Lending Programs as Crisis Wanes (Update2) - Bloomberg.com: "Fed Trims Emergency Lending Programs as Crisis Wanes (Update2)"

L'ALLEMAGNE NE POURRA PAS RESPECTER LE PACTE DE STABILITÉ AVANT 2013!

Berlin ne pourra pas respecter le pacte de stabilit�avant 2013 - Europe - Le Monde.fr: "Berlin ne pourra pas respecter le pacte de stabilit�avant 2013"

MÉXICO: ¿CÓMO VA HOY?..(Miércoles, junio 24, 2009)

MERCADOS MEXICANOS-�Qu�dicen los analistas? 24 de junio
| Titulares
| Reuters: "MERCADOS MEXICANOS-�Qu�dicen los analistas? 24 de junio"

US FED URGES INVESTORS TO RELAX ON INFLATION CONCERN!

Fed Douses Speculation on Purchases, Urges Investors to ‘Relax’ - Bloomberg.com: "Fed Douses Speculation on Purchases, Urges Investors to ‘Relax’"

mercredi, juin 24, 2009

OECD RAISES WORLD ECONOMIC OUTLOOK FOR 1st TIME IN 2 YEARS!

OECD Raises Outlook for First Time in Two Years (Update2) - Bloomberg.com: "OECD Raises Outlook for First Time in Two Years (Update2)"

US DURABLE ORDERS UNEXPECTEDLY CLIMB AS RECESSION EASES!

U.S. Economy: Goods Orders Unexpectedly Jump as Recession Eases - Bloomberg.com: "U.S. Economy: Goods Orders Unexpectedly Jump as Recession Eases"

CHINA SAYS RAW-MATERIAL EXPORT LIMITS MEET WTO RULES!

China Says Raw-Material Export Limits Meet WTO Rules (Update2) - Bloomberg.com: "China Says Raw-Material Export Limits Meet WTO Rules (Update2)"

JAPAN EXPORT SLUMP DEEPENS, CASTING DOUBT ON RECOVERY!

Japan Export Slump Deepens, Casting Doubt on Recovery (Update3) - Bloomberg.com: "Japan Export Slump Deepens, Casting Doubt on Recovery (Update3)"

RECUL DES IMMATRICULATIONS DE VÉHICLES COMMERCIAUX EN EUROPE!

Recul des immatriculations de v�hicules commerciaux en Europe - Le Monde.fr: "Recul des immatriculations de v�hicules commerciaux en Europe"

WORLD HAS "NO CREDIBLE ALTERNATIVE" TO US DOLLAR: MOODY'S...OF COURSE!

Moody’s Says World Has ‘No Credible Alternative’ to U.S. Dollar - Bloomberg.com: "Moody’s Says World Has ‘No Credible Alternative’ to U.S. Dollar"

mardi, juin 23, 2009

MÉXICO: VOTO EN BLANCO ES RETÓRICA ANTIPOLÍTICA: WOLDENBERG

Voto en blanco es ret�rica antipol�tica: Woldenberg | El Economista: "Voto en blanco es ret�rica antipol�tica: Woldenberg"

LATINOAMERICANOS DESINTERESADOS EN SU INTEGRACIÓN..¿CHÁVEZ CULPABLE?

Latinoamericanos desinteresados en integraci�n pol�tica culpan a Ch�vez - Am�rica Latina - El Nuevo Herald: "Latinoamericanos desinteresados en integraci�n pol�tica culpan a Ch�vez"

EUROPE: ECB USED UP ALL ROOM TO CUT RATES; NO NEED FOR ANOTHER STIMULUS!

Weber Says ECB Has Used Room to Cut Interest Rates (Update3) - Bloomberg.com: "Weber Says ECB Has Used Room to Cut Interest Rates (Update3)"

US CEOs STAY PESSIMISTIC ABOUT ECONOMY!

U.S. CEOs Stay Pessimistic About Economy, Survey Says (Update1) - Bloomberg.com: "U.S. CEOs Stay Pessimistic About Economy, Survey Says (Update1)"

FRANCE: ZONE DANGEREUSE POUR LA DETTE ET LE DÉFICIT!

Zone dangereuse pour la dette et le d�ficit, pr�vient Seguin - Le Monde.fr: "Zone dangereuse pour la dette et le d�ficit, pr�vient Seguin"

MÉXICO: ¿CÓMO VA HOY?..(Martes, junio 23, 2009)

MERCADOS MEXICANOS-�Qu�dicen los analistas? 23 de junio
| Titulares
| Reuters: "MERCADOS MEXICANOS-�Qu�dicen los analistas? 23 de junio"

CANADA'S SLUMP AS HARSH AS US!

Carney Says Canada’s Slump Has Become as Deep as U.S. (Update1) - Bloomberg.com: "Carney Says Canada’s Slump Has Become as Deep as U.S. (Update1)"

EMERGING-MARKET STOCKS FELL 10% IN 6 DAYS; RUSSIA'S MICEX 20%!

Emerging-Market Stocks in ‘Correction’ After 10% Drop in 2009 - Bloomberg.com: "Emerging-Market Stocks in ‘Correction’ After 10% Drop in 2009"

US FED'S BERNANKE SET TO DEFEND HIS REAPPOINTMENT!

Bernanke Set to Defend Record as Reappointment Debate Begins - Bloomberg.com: "Bernanke Set to Defend Record as Reappointment Debate Begins"

INDIA, CHINA TO CUSHION GLOBAL RECESSION: WORLD BANK

India, China to cushion recession: World Bank - India Business - Business - The Times of India: "India, China to cushion recession: World Bank"

INTERNET: ¡CONDENA MILLONARIA POR DESCARGAR MÚSICA!

Condena millonaria por descargar m�sica de internet - Tecnologia AP - El Nuevo Herald: "Condena millonaria por descargar m�sica de internet"

MÉXICO: ¿PRÓSPERO 2010?..YES!

M�xico, de los que m�s crecer�n en 2010: experto | El Economista: "M�xico, de los que m�s crecer�n en 2010: experto"

FRANCE: LA CONSOMMATION DES MÉNAGES BAISSE LÉGÈREMENT!

La consommation en France baisse l�g�rement - L'�conomie en crise - Le Monde.fr: "La consommation en France baisse l�g�rement"

lundi, juin 22, 2009

BANCO MUNDIAL AUMENTA EL PESIMISMO DE MERCADOS

Banco Mundial aumenta pesimismo de mercados | El Economista: "Banco Mundial aumenta pesimismo de mercados"

ESPAÑA: TURISMO EXTRANJERO CAE CASI 12%!

Turismo extranjero en Espa�a cae casi 12% - Negocios AP - El Nuevo Herald: "Turismo extranjero en Espa�a cae casi 12%"

LE MONDE: L'AGENDA DE LA SEMAINE...GULP! (JUIN 22 -- JUIN 26, 2009)

A suivre cette semaine, la d�cision mon�taire de la Fed: "A suivre cette semaine, la d�cision mon�taire de la Fed"

GLOBAL ECONOMY: UNEXPECTED FINANCIAL TURMOIL COULD HAMPER RECOVERY!

Trichet Says Unexpected Turmoil Could Hamper Recovery (Update1) - Bloomberg.com: "Trichet Says Unexpected Turmoil Could Hamper Recovery (Update1)"

EUROPE: ECB EXPECTED TO KEEP RATES STEADY INTO 2010!

Nowotny Expects ECB to Keep Rates Steady Into 2010 (Update2) - Bloomberg.com: "Nowotny Expects ECB to Keep Rates Steady Into 2010 (Update2)"

JAPAN'S TANKAN BUSINESS CONFIDENCE LIKELY TO RISE FRO RECORD LOW!

Japan Tankan Business Sentiment Likely to Rise From Record Low - Bloomberg.com: "Japan Tankan Business Sentiment Likely to Rise From Record Low"

LE FMI EST REDEVENU BÉNÉFICIAIRE EN 2008 -- 2009!

Le FMI est redevenu b�n�ficiaire en 2008-2009 - Economie - Le Monde.fr: "Le FMI est redevenu b�n�ficiaire en 2008-2009"

MÉXICO: ¿CÓMO VA HOY?..(Lunes, junio 22, 2009)

MERCADOS MEXICANOS-�Qu�dicen los analistas? 22 de junio
| Titulares
| Reuters: "MERCADOS MEXICANOS-�Qu�dicen los analistas? 22 de junio"

STOCKS, COMMODITIES FALL ON PESSIMISTIC WORLD BANK REPORT!

U.S., Europe Stocks Fall, Commodities Drop on Recession Concern - Bloomberg.com: "U.S., Europe Stocks Fall, Commodities Drop on Recession Concern"

VOLATILITY INDEX SURGE AS WORLD BANK REPORT SENDS EQUITIES TUMBLING!

VIX, VStoxx Surge as World Bank Report Sends Equities Tumbling - Bloomberg.com: "VIX, VStoxx Surge as World Bank Report Sends Equities Tumbling"

WORLD CRISIS WEEKLY WRAP-UP (June 15 - - June 18, 2009)

(Update 1 of 3)

INTRODUCTION:

Last week's markets had a small set back but many analysts continued to be upbeat. Does the following data background correspond to this perception?

GOOD NEWS:

Economic Statistics are not as awful as they were only a few weeks ago. They are now only very, very bad. Is this reason enough to rejoice?---- Can we see the light at the end of the tunnel!

Américas: -----United States: FED weighs using FOMC statement to damp rate-rise speculations----- FED’s Fisher says no plan to raise rates soon----- AMEX, Goldman Sachs, JPMorgan Chase and Morgan Stanley repaid TARP----- Current-account deficit narrowed from $155 b to $101.5 b 1^st q. Deficit is now at 2.9% of GDP, the lowest for a decade on decline in oil imports, industrial supplies and Raw materials----New housing starts were +17.2% in May-------Permits to build new private homes up too------ Leading index and factory data also showed good news! -----México: Sovereign risk up moderately----Lowered rate to 4.75% to support shrinking economy; Europe: -----Norway cut rate by 0.25% p to a record low of 1.25%------Germany near bottom, recovery like a "bathtub" (slower than a V shaped one, I think); Switzerland kept rate, plans "firm action" on franc speculation-------- United Kingdom: Finance Minister Darling signals limited overhaul of bank rules; Asia: ----Australia: Reserve Bank of Australia minutes suggested another rate cut from 3% if economy deteriorated more; Japan: Bank of Japan voted unanimously to keep rate at 0.1%, there since December; Government, Bank of Japan agreed worst of recession over----China: World bank raised china 2009 growth forecast to 7.4%;------- South Korea: ; Global Economy, Geo-Politics, Markets and Natural Disasters: -----Global Economy: -----BlackRock to buy Barclays Global Investors for $13.5 b to become world’s biggest money-manager, with $2.8 trillion in assets under management------- G-8 Finance Ministers moderately optimistic on World Economy, start planning stimulus exit strategies on recovery-------Commodities: ; Commodities: ; -------Markets: Dollar has no rival as world currency!-------- Dow industrial average erases 2009 decline on economic recovery------- Geo-Politics:; Natural Disasters: ;

BAD NEWS:

Some other respectful opinions (World Renown Economists and multilateral Institutions, the IMF and the World Bank included) and the next data were not that positive though and infer this crisis’ worst effects on people are just beginning to be felt with the corresponding social risks growing by the minute!

Américas: United States: Factory output sinks; Obama sees jobless at 10%, recovery soon, financial plan gets wary reception from bank---- Fed opposes Government stripping central bank of consumer-loans responsibility------ Fed gets no requests for 1st round of TALF loans-----Obama’s changes to US financial regulatory system biggest in decades, it includes greater authority for the FED in systemically important financial firms; government will be able to seize, dismantle large distressed companies; tougher rules on derivatives, securitisation; hedge funds to register and finally a consumers’ rights agency------Industrial production -1.1% in May, following -0.7% in April-----Annual inflation falls most in 60 years, -1.3% year to May, after -0.7% to April; ------Bank failures rise to 40 this year-----Investor Allen Stanford indicted on fraud charges!------Jobless rate of 10% spreads to half of states, risking recovery------- México: Finance Ministry recognizes fiscal pressures for 2010------- Brazil: ; Europe: Russia has to structurally reform the economy, despit a recent rise in oil prices------ Latvia devaluation would cause "swift contagion"--------Inflation is also receding in emerging markets-------- Poland’s inflation fell from 4% to 3.6%------European Union: Accord on European finance regulation------- European leaders say banking system "remains risky”... United Kingdom: Finance minister signals rift with Brown over fiscal deficit---------Banks may need more capital to finance recovery-------Uk has guarantee on a European Union bank regulator------BOE King, and Darling, the chancellor, differed on banking regulation. King wants more power. ------------Inflation dropped less than expected. +2.2% to May, slightly below the rate in April----------Unemployment +7.2% 3 months to April from 6.5% previous quarter. Jobless Claims doubled in 12 months to May to 1.54m, highest since 1997------- Sweden: Ready to act "forcefully" on Latvia debt and currency crisis------Euro-Zone: -----Germany's Steinbrueck signals concern on European Credit Ratings-------Payrolls contract by record as recession bites------- ECB shouldn't raise rates: Nowotny! ------Inflation falls to zero to May after +0.6% to April! -----ECB: Banks’ losses will reach $283 b by 2010---Increased risks because they ar undercapitalised or overexposed to instability in Eastern Europe. ; Germany: Steinbrueck signals concern on European Credit Ratings ; France: Le déficit public de la France dépassera probablement 7% du PIB------- Ireland: ; Asia:------India wholesale prices fall for 1st time since 1970s------Japan: Recovery may not be sustained, Shirakawa says----kept rate at 0.1%, recession easing! ; China: "bubble of belief" in china economy seen bursting!... China: foreign direct investment tumbles on crisis; Global Economy, Geo-Politics, Markets and Natural Disasters: ----Global Economy: Japan Sumitomo MFG launched share issue to bring $9.6 b, biggest in years------ Germany's Steinbrueck signals concern on European credit ratings--------FedEx showed a large quarterly loss. This is a Gloomy forecast for the World Economy the rest of the year------British Airways asked staff to volunteer to work for nothing in “fight for survival”------ Air India, deferred payments to employees 2 weeks because of a cash crunch-------MySpace fired 30% of US employees on competition vs Facebook-------Six Flags filed for Chapter 11. To restructure around $2 b of debt. Revenue plunged (it owns 20 amusement parks)-------BRICS (Brazil, Russia, China, India) call for "greater voice" in global financial institutions-------The International Monetary fund (Strauss Khan) declared that the worst of this crisis is still to come------------European leaders say banking system "remains challenging”...Commodities: ; Markets: -----Analysts are concerned over dollar and deficits--------BRIC dollar bonds beat ruble, reais, yuan debt as "bubble of belief" in china economy seen bursting!... Sweden is ready to act "forcefully" on latvia crisis. Devaluation would cause "swift contagion" in Central and Eastern European Countries-----World Central Banks must respond according to their capabilities, Government Officials said----------- International demand for US assets slowed in april--------China’s foreign direct investment tumbles on world crisis effects-------United States bank failures rise to 40 this year! --------Moral hazard for banks threatens next cycle!------European Leaders achieve an accord on financial system regulation------; Geo-Politics: Israel’s PM,Netanyahu, accepted Palestinians should have a state though its conditions (no army for example) didn’t cheer up its neighbours------ Iran protesters dispersed by water cannons!------- Iran's security council warned mousavi against more protests------1m people came out to the streets of Tehran, Iran’s capital, vs a possible rigged election by M. Ahmadinejad, the incumbent president, vs Mousavi. Police cracked down. Iran: khamenei-Rafsanjani split limits Iran's power elite------N. Korea threatened a “thousandfold” retaliation if attacked, after UN Security Council voted unanimously to toughen sanctions.------Russia vetoed observers’ in Abkhazia and South Ossetia whose independence recognised after last August’s war with Georgia------Hawaii to get missile interceptors vs north korea ...Natural Disasters: ;

CONCLUSION:

It does not help to the world economic stability a threatening attitude of “nuclear weapons-state-to-become-and-missiles-launching-crazy” North Korea. Also the“swine flu” pandemic menace touching national health systems, global trade and tourism at a time of generalized bloated budgets. Global Industries (cars, airlines, etc) are in for a tough ride, too!----Iran adds a touch of dramatism to middle-east geo-politics.

Last week's extremely negative news continued to overwhelm the very few positive ones.----

J CNN

IRAN'S SPLIT DEEPENS AS RAFSANJANI FAMILY TARGETED!

Split Deepens in Iran as Rafsanjani Family Targeted (Update2) - Bloomberg.com: "Split Deepens in Iran as Rafsanjani Family Targeted (Update2)"

BRASIL Y DERECHOS HUMANOS..¿DOS CARAS?

Las dos caras de Brasil - Andr�s Oppenheimer - El Nuevo Herald: "Las dos caras de Brasil"

MÉXICO: EMPEORA COMPETITIVIDAD: WEF!...AWFUL!

M�xico sigue perdiendo atractivo en competitividad: WEF | El Economista: "M�xico sigue perdiendo atractivo en competitividad: WEF"

MÉXICO: SUBE DE NUEVO EL "RIESGO PAÍS"

Sigue subiendo el riesgo pa�s de M�xico | El Economista: "Sigue subiendo el riesgo pa�s de M�xico"

MÉXICO: INFLUENZA REDUCIRÍA PIB UN 2.2%: BANCO MUNDIAL

Influenza recortar�a PIB M�xico 2do trim un 2,2 pct: B. Mundial
| Titulares
| Reuters: "Influenza recortar�a PIB M�xico 2do trim un 2,2 pct: B. Mundial"

FRANCE: EN 2009, LE DÉFICIT PUBLIC ATTEINDRA "ENTRE 7 ET 7.5%" DU PIB!

En 2009, le d�ficit public atteindra "entre 7 et 7,5 %" du PIB - Politique - Le Monde.fr: "En 2009, le d�ficit public atteindra 'entre 7 et 7,5 %' du PIB"

DERIVATIVES GET SECOND LOOK FROM US CONGRESS!

Derivatives Get Second Look From U.S. Congress That Didn’t Act - Bloomberg.com: "Derivatives Get Second Look From U.S. Congress That Didn’t Act"

TIPS GAIN IN MARKET'S WORST YEAR!

TIPS Gain in Market’s Worst Year; Validation of Pimco (Update1) - Bloomberg.com: "TIPS Gain in Market’s Worst Year; Validation of Pimco (Update1)"

WORLD BANK CUTS FORECAST FOR GLOBAL ECONOMY, DEVELOPING NATIONS!

World Bank Cuts Forecast for Global Economy, Developing Nations - Bloomberg.com: "World Bank Cuts Forecast for Global Economy, Developing Nations"

dimanche, juin 21, 2009

MÉXICO: ¡VOTAR O NO VOTAR, ESA ES LA CUESTIÓN! (II)

Existir o no existir políticamente en México. Yo creo que todos
debemos asumir nuestra responsabilidad sobre las debilidades de
nuestro sistema democrático y tratar de mejorarlo con una visión de
largo plazo. La democracia en EU lleva perfeccionándose desde hace más
de 200 años. Nosotros apenas 6 (sin tomar en cuenta los 30 previos
preparatorios para la alternancia de Fox). Si no votamos el voto duro
será indudablemente para el PRI. Preferiría que si va a ganar el
tradicional partido en el poder lo hiciera de la manera correcta, es
decir con votos conscientes y no por una inercia abstecionista de
décadas. Yo escojo votar y por lo mismo existir de manera constructiva
y con las reglas legales vigentes, en el desarrollo democrático de
México.

J CNN

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CHINA'S ECONOMY IS AT "KEY MOMENT", WEN SAYS!

China Should Have ‘Moderately Loose’ Monetary Policy, Wen Says - Bloomberg.com: "China Should Have ‘Moderately Loose’ Monetary Policy, Wen Says"

IRAN PARLIAMENT SPEAKER QUESTIONS VOTE RESULTS; 10 KILLED AND MORE THAN 100 INJURED (ON TOP OF LAST WEEK'S)!

Mousavi Calls for More Iran Protests as 10 Killed (Update2) - Bloomberg.com: "Mousavi Calls for More Iran Protests as 10 Killed (Update2)"

MORAL HAZARD FOR BANKS THREATENS NEXT CYCLE II..!

Ex-BOE’s Gieve Says Moral Hazard for Banks Threatens Next Cycle - Bloomberg.com: "Ex-BOE’s Gieve Says Moral Hazard for Banks Threatens Next Cycle"

EUROPE: PAS BESOIN D'UN AUTRE PLAN DE RELANCE, SELON JEAN-CLAUDE TRICHET!

Pas besoin d'un autre plan de relance, selon Jean-Claude Trichet - Le Monde.fr: "Pas besoin d'un autre plan de relance, selon Jean-Claude Trichet"

ESTADOS UNIDOS ESTA SEMANA II...¡GULP!.. (Agenda junio 22--junio 26, 2009)

Acciones EEUU seguir�n claves de reuni�n de Fed y ventas casas
| Negocios
| Reuters: "Acciones EEUU seguir�n claves de reuni�n de Fed y ventas casas"

MÉXICO ESTA SEMANA II....GULP! (Agenda junio 22 -- junio 26, 2009)

MERCADOS MEXICANOS-Sensibles ante datos clave de M�xico y EEUU
| Negocios
| Reuters: "MERCADOS MEXICANOS-Sensibles ante datos clave de M�xico y EEUU"

WORLD ECONOMY THIS WEEK....GULP!.. (Agenda Jun 22 -- Jun 26, 2009)

AHEAD OF THE CURVE!

UPCOMING THIS WEEK: POLITICS AND ECONOMY: ---EVENTS THAT MAY MOVE GLOBAL FINANCIAL MARKETS (Update 1 of 3)---

(June 22 -- June 26, 2009)---Outstanding EventsThat May Move Global Financial Markets:

WORLD MARKETS-----; ----Dollar Recovery, Possible?, ----Oil, Gasoline and Food Prices---NORTH AMÉRICA: ***United States: House Price Index (23); Existing Home Sales (23); Richmond FED Manufacturing Index (23); ABC Consumer Confidence (23); MBA Mortgage Applications (24);Durable Goods Orders (24); New Home Sales (24); FED's Rate Decision (24); GDP 1st q (25); Personal Consumption (25); Personal Consumption Expenditure Deflator (26); Personal Income (26); Personal Spending (26); U. of Mich. Consumer Confidence (26); ; México; Balanza Comercial (23);Desempleo(24);Establecimientos Comerciales (25); Servicios (25);Indicador Global de la Actividad Económica --IGAE--(26); ;Canada; International Securities Transactions (24); ;;EUROPE; ; ; Britain: Rightmove House Prices (Sunday 21); Nationwide House Prices (22); Loans For House Purchase (23); ; Switzerland; Trade Balance (23); Leading Indicator (26); ; Euro-Zone: PMI Manufacturing (23); PMI Services (23); PMI Composite (23); OECD Economic Outlook (23); Current Account (24); ; France: Consumer Spending (23);Business Confidence (23); PMI Manufacturing (23); PMI Services (23); GDP (26); Consumer Confidence (26); ;Germany: Expectations (22); Business Climate (22); Current Assessment (22); Consumer Confidence (23); PMI Manufacturing (23); PMI Services (23); Inflation (26); ; Italy: Trade Balance (25); ; ---ASIA, PACIFIC: ---Japan: Services (Sunday 21); Leading & Coincident Index (23); Trade Balance(23); Bank of Japan Nakamura Speaks (24); Net foreign buying & Selling of Japanese Stocks & Bonds! (25); Inflation (25); All Industry Activity Index (25); :Australia; Leading Index (25); ; -- New Zealand: Consumer Confidence (24); GDP(25); ; ----: ;----

---OUTSTANDING--- :

--º--

World: ... Swine Flu...Global Impact(Pandemic): ----North Korea:Missile Crazy?;Latvia: Devaluation a big possibility? Could it unsettle other economies in the region?----

SUNDAY 21:

Japan: Services; ;

MONDAY 22:

Germany:Business Climate ;

United Kingdom: House Prices;

TUESDAY 23:

United States: Existing Home Sales ;

Euro-Zone: PMI Manufacturing; PMI Services; PMI Composite; OECD Economic Outlook ;

Japan: Leading & Coincident Index; Trade Balance ;

Germany: Consumer Confidence ;

France: Business Confidence ;

Switzerland: Trade balance

México: Balanza Comercial;

WEDNESDAY 24:

United States: Durable Goods Orders; FED's Rate Decision;

Euro-Zone: Current Account; ;

Italy: Trade Balance;

México: Desempleo;

THURSDAY 25:

United States: GDP 1st q ;

Japan: Inflation; All Industry Activity Index ;

Australia: Leading Index;

New Zealand: GDP;

México: Sector Servicios;

FRIDAY 26:

United States: Personal Consumption Expenditure Deflator; Personal Income; Personal Spending; U. of Mich. Consumer Confidence;

Germany: Inflation ;

France: GDP; Consumer Confidence ;

Switzerland: Leading Indicator;

México: Indicador Global de la Actividad Económica;

SATURDAY 27:

SUNDAY 28:

US ECONOMY THIS WEEK...GULP! (Agenda June 22 -- June 26, 2009)

Spending, Home Sales Probably Increased: U.S. Economy Preview - Bloomberg.com: "Spending, Home Sales Probably Increased: U.S. Economy Preview"