From JPMorgan, a look at what should be a very quiet week:• Corporate: there are a handful of analyst meetings and a couple earnings but overall things will be
very quiet. RIMM’s earnings Thurs night (6/16) is the biggest release of the week (although keep in
mind RIMM already preannounced for the Q).
• Chinese equities – there has been a ton of scrutiny lately around China based equities traded on
North American bourses w/concerns centering around accounting policies and corporate
transparency. One of the stocks at the centre of that scrutiny has been Sino-Forest, a Canadian-
listed forest products firm. They will be reporting earnings Tues morning.
• Economics – the focus globally will be on inflation. In the US we get the PPI (Tues) and CPI
(Wed), in China both the CPI and PPI hit Mon night, and the Eurozone CPI comes Thurs morning.
For the US some consumer indicators also will be in focus (retail sales on Tues and Michigan
Confidence Fri) while China’s retail sales and IP also get released (Mon night). Keep in mind there
has been speculation in the press that Chinese officials could unveil a rate hike (either interest rates
or bank RRRs) and widen the daily yuan trading range (to 1%) during June.
• Credit Cards – The next step now is for the Fed to issue a final rule on debit. This final rule is
expected to be published at the latest by Jul 21 but we may hear as early as this week. Investors are
confident that the non-exclusivity provision will apply to PIN-debit only and they think the rate will
be raised from 12c to 15-20c….if this is the case than could help soften the blow for debit-levered
• Eurozone meeting scheduled for Tues June 14? Reuters is reporting that a Eurozone fin min
meeting has been scheduled for Tues June 14. Prob. won’t be much from this other than a bunch of
inconclusive contradictory headlines…but in a quiet wk will be in focus – Euro zone finance
ministers will meet in Brussels next Tuesday to discuss Greece and the broader sovereign debt
crisis, a European Union sources said on Friday. The meeting is expected to prepare the ground for
a further gathering in Luxembourg on June 20. There will not be a formal press conf after this Tues
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