Week of June 26, 2011 thru July 2, 2011

Summary of Select June US Auto Sales Figures Reported July 1

--Updated To Include Suzuki

WASHINGTON (MNI) - The following is a summary of the June U.S.
sales performance of select auto manufacturers announced Friday:

* General Motors dealers in the United States reported 215,358
total sales in June, an 11% gain compared to June 2010. Retail sales for
GM's brands rose 16% for the month, compared to a year ago, and were 4%
higher than May. Total sales for GM's full-size pickups -- Chevrolet
Silverado and Avalanche, and GMC Sierra, rose 15% compared to May, while

Summary of Select June US Auto Sales Figures Reported July 1

WASHINGTON (MNI) - The following is a summary of the June U.S.
sales performance of select auto manufacturers announced Friday:

* General Motors dealers in the United States reported 215,358
total sales in June, an 11% gain compared to June 2010. Retail sales for
GM's brands rose 16% for the month, compared to a year ago, and were 4%
higher than May. Total sales for GM's full-size pickups -- Chevrolet
Silverado and Avalanche, and GMC Sierra, rose 15% compared to May, while
retail sales increased 20% from last month. In the first half of 2011,

FXWRAP: Dollar Mixed After Positive Data Surprise

By Dennis Pettit

NEW YORK, July 1 (MNI) - The dollar held a narrowly mixed tone in
afternoon dealings Friday, but only after seeing some broad chop as
better than expected U.S. economic data boosted stocks, delivering mixed
results for the greenback.

Euro-dollar changed hands at $1.4510 in afternoon dealings Friday,
with the euro just slightly above its early $1.4485 level of the U.S.
session. The euro was in the upper reaches of the day's $1.4436/1.4525
U.S. hours range.

Dollar-yen meantime changed hands at Y80.85 in afternoon dealings

US CongressWeek: Hill,Admin Gearing Up For 3-Week Budget Push

--As House, Senate Return to DC Next Week, Partisan Shots to Continue
--Budget Experts Expect Quiet Probing For Debt Ceiling Deal
--Senate Majority Leader Says Four Proposals Under Consideration
--Republicans Continue to Support Balanced Budget Amendment

By John Shaw

WASHINGTON (MNI) - As it pertains to American fiscal policy, it is
safe to say that July will be an interesting month.

Other descriptions might also be applicable to the coming month
such as heart-stopping, stomach churning, and mind-numbing.

With Treasury confirming Friday that the deadline for increasing

US CongressWeek: Hill,Admin Gearing Up For 3-Week Budget Push

--As House, Senate Return to DC Next Week, Partisan Shots to Continue
--Budget Experts Expect Quiet Probing For Debt Ceiling Deal
--Senate Majority Leader Says Four Proposals Under Consideration
--Republicans Continue to Support Balanced Budget Amendment

By John Shaw

WASHINGTON (MNI) - As it pertains to American fiscal policy, it is
safe to say that July will be an interesting month.

Other descriptions might also be applicable to the coming month
such as heart-stopping, stomach churning, and mind-numbing.

With Treasury confirming Friday that the deadline for increasing

Summary of Select June US Auto Sales Figures Reported July 1

WASHINGTON (MNI) - The following is an initial summary of the June
U.S. sales performance of select auto manufacturers announced Friday:

* General Motors dealers in the United States reported 215,358
total sales in June, an 11% gain compared to June 2010. Retail sales for
GM's brands rose 16% for the month, compared to a year ago, and were 4%
higher than May. Total sales for GM's full-size pickups -- Chevrolet
Silverado and Avalanche, and GMC Sierra, rose 15% compared to May, while
retail sales increased 20% from last month. In the first half of 2011,

US Tsy Housing Scorecard: Seriously Delinquent Mtgs Down 22%

WASHINGTON (MNI) - The number of seriously delinquent mortgages or
those in foreclosure dropped 22% in May, from a peak of 1.9 million a
year ago, the U.S. Treasury said Friday.

The seriously delinquent category refers to those 90 days late or
in foreclosure. Mortgages 30 days late fell to 4.3% from a peak of 5.9%
in May 2010, the Treasury said in the housing scorecard on the Home
Affordable Modification Program.

"The housing data in this month's scorecard paint a mixed picture
of the housing market, despite growing evidences of progress in the

Next Wk/US: All Eyes On Jobs Report In Holiday-Shortened Week

By Theresa Sheehan

PRINCETON (SMRA) - The week ahead is shortened by the Monday Fourth
of July holiday. The data calendar is light, and most of the focus in
markets will remain on the June employment report Friday.

Forecasters are going to be on the lookout for the June ADP
National Employment Report at 8:15 ET Wednesday. Last month the
unexpectedly soft reading caused some -- including SMRA -- to revise
their estimates lower. The lackluster 54,000 increase in nonfarm
payrolls justified the revision. While the ADP number has had some big

Inst Intl Finance: Ready to Engage in Voluntary Greece Support

WASHINGTON (MNI) - The Washington-based international banking
group, the Institute of International Finance, said Friday its members
are ready to engage in "voluntary" support for Greece to improve the
country's short-term recovery prospects. The statement by the board
cites options such as debt rollovers, extensions or debt buybacks.

The text of the statement follows:

The Board of Directors of the Institute of International Finance is
committed to working with its membership and other financial
institutions, the official sector, and the Greek authorities to deliver

S&P Text: Substl Downside Risks Remain To Italy Debt Reduc Plan

--One-In-Three Likelihood Italy Ratings Cld Be Lowered Within 2 Years

WASHINGTON (MNI) - The following text is a comment by Standard &
Poors Friday commenting on the additional austerity measures introduced
by Italy's government Thursday:

Yesterday, the Italian government introduced additional fiscal
austerity measures that aim to reduce the general government deficit by
47 billion (3% of 2011 GDP) by 2014. Despite these measures, however,
we believe substantial downside risks to the government's debt-reduction
plan remain, primarily due to Italy's weak growth prospects.