Hedge Fund Live's  Instablog

Hedge Fund Live
Send Message
Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC Capital... More
My company:
Hedge Fund LIVE
My blog:
Hedge Fund Live
  • Tuesday Morning Recap: Markets Rise on Another Potential Greek Bail Out  0 comments
    May 31, 2011 9:56 AM

    HedgeFundLIVE.com – Morning Notes

    - Week is off to a strong start as global markets are all higher
    - In Asia, Nikkei rallied to close up 2% despite Moody’s review of the country’s sovereign rating
    - Strength in Japan in part attributed to Manufacturing PMI number, which showed an expansion
    - Hang Seng closed up 2.2% while Shanghai Comp closed up 2.2%
    - Markets are up on news that Greece may be bailed out- Germany potentially drafting a new plan
    - New bailout pkg would avoid a complete Greek debt restructuring, expected to be announced by end of June
    - Financials are leading the way in Europe
    - Eurozone CPI came in lower than expectations
    - Euro is up as well this morning
    - Crude oil trading higher
    - Commodities are generally higher due to weakness in dollar (along with other “flight to safety” investments such as treasuries)
    - One notable exception is wheat, which is down relatively big on news that Russia will lift its ban on grain exports, which would lead to increased supply to the global wheat market
    - Case Shiller: -3.6% vs. -3.3%
    - Crude oil spikes following latest data release

    - Left on the economic calendar for today: Chicago PMI at 9:45a; Consumer Confidence at 10a 
Back To Hedge Fund Live's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.