- Greece Races to Bridge Gap With Creditors Ahead of May Debt Bill. Greece and its international creditors were locked in intense negotiations over a long holiday weekend as they raced against the clock to avert a default as early as this month. While talks have picked up pace in recent days, the two sides still have ground to cover to bridge differences on stalled reforms. That’s making it uncertain there would be enough progress to clinch a deal in time for a May 11 meeting of euro-area finance ministers, some officials warned.
- We Are No Where Near a Deal at All With Greece: Schulz. (video)
- Europe’s Debt Erases $160 Billion on Path to Record Weekly Loss. Investors revolting against negative yields in Europe wiped 142 billion euros ($160 billion) off the value of the region’s government bonds this week, heading for the biggest selloff since at least October 1993. With Bill Gross and DoubleLine Capital’s Jeffrey Gundlach among investors saying its time to sell bunds, the value of European bonds dropped to 5.75 trillion euros Thursday, the least since March 4, Bank of America Merrill Lynch data show. Germany’s 10-year yields completed their biggest two-day climb since November 2011 as signs of euro-area inflation prompted traders to pare bets the European Central Bank’s quantitative easing will drive up prices on the continent’s benchmark debt.
- Treasuries Post Their Worst Weekly Decline in Almost Two Months. European debt markets took a holiday and still dragged Treasuries lower. The worst week for U.S. 10-year notes in almost two months got even bleaker as a rout in European bonds continued to diminish investor appetite for relatively higher U.S. yields. The notes also extended an April decline after a report showed U.S. consumer confidence rose last month.
- Mester Sees Signs of Growth Bounce, Rate Liftoff at Any FOMC. Federal Reserve Bank of Cleveland President Loretta Mester, in the first public comments of any policy maker since the Fed met earlier this week, sees signs the economy is rallying after a first-quarter slump. “All meetings are on the table” for the first interest-rate rise in nine years, she told reporters Friday after a speech in Philadelphia. “We’re getting close to the point where it’s going to be time to lift off, and now it’s going to be this decision based on the data.”
- Tesla’s(TSLA) Powerwall Event: The 12 Most Important Facts.
- Baltimore prosecutor charges police with murder, manslaughter in death of Freddie Gray. (video) One Baltimore police officer was charged Friday with murder, three with manslaughter and two with assault in the death of Freddie Gray, who a prosecutor said suffered a broken neck last month when he was left shackled at the feet and lying face down in a police van by officers who ignored his pleas as they made their rounds.
ZeroHedge:
- The Best And Worst Performing Assets In April And YTD. (graph)
- Atlanta Fed Cuts Q2 GDP Forecast To +0.8% After Construction Spending Crunch. (graph)
- Friday Humor: Chinese Stock Chart Of The Day. (graph)
- Grantham Says Fed "Bound And Determined" To Engineer "Full-Fledged Bubble".
- 3 Things: Just The Weather, Deflator, Import Warning. (graph)
- The Random Walk Of Shame.
- US Manufacturing Weakest In 2 Years As Construction Spending Plunges; Mfg Employment Lowest Since 2009. (graph)
- China, Russia Unveil First-Ever Mediterranean Joint Naval Exercise.
- Russia Preparing Offensive In Ukraine, NATO General Imagines.
- What's Really Burning In Baltimore - 50 Years Of Liberal Welfare State Policies.
- There's 'lackluster interest' in Apple(AAPL) Watch, says UBS.
- Two Russian nuclear-capable bombers entered US air space near Alaska.
- Police union says prosecutor who just charged 6 Baltimore cops has 'many conflicts of interest'.
- Twitter's(TWTR) stock price tumble continues.
- Experts predict robots will take over 30% of our jobs by 2025 — and white-collar jobs aren't immune.
- Iran's proxy war in Yemen just got exposed.
- BLACKROCK(BLK): 4 reasons why we shouldn't want more debt-fueled government stimulus.
- The calm on global financial markets masks a growing threat.
- One chart sums up the frenzy in China's stock market. (graph)
- U.S. shale firms revive hedging as oil rebounds, may vex OPEC. U.S. oil producers are rushing to take advantage of the rebound in oil markets by locking in prices for next year and beyond, safeguarding future supplies and possibly paving the way for a rebound in production. The flurry of hedging activity in the past month will help sustain producers' revenues even if oil markets tumble again, which is bad news for OPEC nations, such as Saudi Arabia, that are counting on low prices to stunt the rapid rise of U.S. shale and other competitors.
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