Sunday, June 14, 2015

Today's Headlines

Bloomberg:     
  • Greece’s Last-Ditch Talks Aim at Agreement Before Monday. Greece and its creditors are locked in last-ditch talks, with European Commission President Jean-Claude Juncker trying to broker a deal over the weekend. Prime Minister Alexis Tsipras sent a delegation to Brussels Saturday with a new set of proposals to close differences on pensions, taxes and a primary surplus target. With positions hardening on all sides, the talks are Juncker’s last attempt to try to bring the sides to a compromise, according to a European Union official, who asked not to be identified. Representatives of the International Monetary Fund, the European Central Bank and the European Stability Mechanism are waiting in the wings to join the discussions if progress is made between Greece’s envoy and Juncker’s chief of staff and the aim is to reach an accord before markets open on Monday, according to the official. Both sides are prepared to continue talks on Sunday.
  • Tsipras Sends Plans to Brussels as EU Warns Greece on Brink. Prime Minister Alexis Tsipras sent a delegation to Brussels with a new set of proposals for Greece's creditors following a barrage of demands to get serious about making concessions or assume responsibility for a default. With markets closed, the negotiators on Saturday are meeting with officials from the trio of lenders withholding money unless their demands are met. The aim is to narrow differences on pension, tax and a primary surplus target ahead of a meeting of finance ministers on Thursday in Luxembourg, according to a Greek government official speaking on condition of anonymity. 
  • China’s Stock Market Value Exceeds $10 Trillion for First Time. The value of Chinese stocks rose above $10 trillion for the first time after doubling this year amid a world-beating rally. The Shanghai Composite Index climbed 2.9 percent this week to its highest level since January 2008. Companies with a primary listing in China were valued at $10.03 trillion at the end of trading Friday, an increase of $5.1 trillion since the end of 2014, according to data compiled by Bloomberg. Japan’s stock market is valued at $5 trillion, while the U.S. is at almost $25 trillion.
  • Fed Watch Spurs Higher Volatility as Stakes Increase for Dollar. Dollar bulls and bears are united on one thing: next week’s Federal Reserve meeting will dictate the path of the U.S. currency. Price swings by the greenback versus the euro reached the highest level since January, raising the stakes for central bank policy makers who have acknowledged a strong dollar poses an economic headwind. Traders are preparing to parse every post-meeting syllable from Fed Chair Janet Yellen for guidance on the timing of its first rate interest-rate increase since 2006 and the path beyond.
Wall Street Journal:
  • When Does a Hack Become an Act of War? Large-scale cyberattacks have in recent years become effective national-security weapons. A tremendous number of personnel records—including some quite personal records—have likely been stolen by computer hackers. The White House won’t say who did it, but a number of U.S. officials and even some lawmakers have said all signs point to China. The Chinese government has denied it, but the staggering haul of records could amount to one of the biggest feats of espionage in decades.
  • Syrian Kurds Nearing Islamic State Border Strongholds. Hundreds of Syrian refugees pour into a Turkish-Syrian border crossing, fleeing intense fighting.
Fox News:
  • Gunman fires on Dallas police outside headquarters. (video) A crazed gunman armed with an automatic weapon and a shotgun fired on officers outside Dallas Police Headquarters early Saturday morning before he was believed killed by a police sniper after an hours-long standoff. Dallas Police Chief David Brown said at a press conference hours later that the gunman ranted in a 911 call about killing cops and came within seconds of doing so in the case of two officers.
CNBC:
  • U.S. poised to put heavy weaponry in East Europe. In a significant move to deter possible Russian aggression in Europe, the Pentagon is poised to store battle tanks, infantry fighting vehicles and other heavy weapons for as many as 5,000 American troops in several Baltic and Eastern European countries, American and allied officials say.
ZeroHedge:
Business Insider:

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