Monday Morning Notes: Greece Will Not Make It Through Summer Without Debt Restructuring? – Morning Notes

– Global markets facing pressure in overnight
– China raised Reserve Requirement by 50bps yesterday- recall that China released strong growth and inflation economic data numbers last Friday
– Shanghai Comp managed to close up small after a volatile session
– Hang Seng was weak, closing down 70bps; Nikkei down 40bps as yen strengthened
– In Japan, Toyota and Nissan re opened their plants that had been shut down after the earthquake
– Note that in PhIllips’ earnings release, the company stated that they were facing headwinds in Japan because of the earthquake
– In Europe, Greece’s debt restructuring request is dominating headlines

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