Week of June 3, 2012 thru June 9, 2012

US News Events Calendar


--Meetings & Events of Interest to Subscribers

DATE GMT / ET EVENT

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03-Jun 1800/1400 Minneapolis Federal Reserve Bank Pres. Narayana Kocherlakota delivers academic talk at the Financial Intermediation Research Society Conference in Minneapolis. http://apps.olin.wustl.edu/firs/conference/2012/index.cfm

05-Jun 1815/1415 St. Louis Federal Reserve President James Bullard speaks on "The Aftermath of the Housing Buble" to The Bipartisan Policy Center in St.

TheFXSpot:Mkt Players Vry Worried About Record Low Bond Ylds


NEW YORK, June 1 (MNI) - At the end of a volatile trading week, financial market players were very worried about what the record low yields, in U.S. Treasuries, German Bunds, and other fixed income instruments represent and feared that world central bankers do not realize the gravity of the situation.

Lingering eurozone malaise has weighed on sovereign yie

Summary of Select May US Auto Sales Figures Reported June 1


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

* With 100% reported, U.S. car sales in May were running at 455,536 without seasonal adjustment, 373,513 seasonally adjusted, and an adjusted annual rate of 4.48 million. Light truck sales were an unadjusted 571,236 and adjusted were 502,451, annualized adjusted 6.03 million.

* General Motors Friday reported May sales of 245,256 vehicles in the United States, up 11% year over year and the highest monthly total since August 2009 when dealers delivered 246,479 units. GM retail sales were up 14% year-over-year and the retail mix was 70%. Fleet sales increased 3%.

US Debt Offering, Auction Calendar for Tsy and Agency Issues


June 1

Source: U.S. Treasury, Fannie Mae, Freddie Mac Amounts in billions of U.S.

FXWRAP: Dismal Data Dislodges Dollar, Payrolls A Bust


NEW YORK, June 1 (MNI) - The dollar was licking its wounds Friday, slipping vs most currencies after a week of steady gains, in the wake of a weaker than expected May U.S. employment report, though the greenback was able to hold steady against the yen as intervention jitters outweighed dollar selling incentives.

Euro-dollar was changing hands at $1.2420 in choppy afternoon dealings Friday, the euro in the upper reaches of a broad $1.2288/1.2460 range after beginning the day around $1.2332.

Dollar-yen meantime was changing hands at Y78.10 area in the afternoon, the greenback returning to near its starting level of the day after traversing, in violent fashion, a Y77.65/78.72 range during U.S. hours.

US Swaptions: Real Vol Delivers On Post-Jobs Bull Flattener


CHICAGO, June 1 (MNI) - Over-the-counter swaption volatility bounced off recent lows as real volatility delivered after Friday's May payrolls report surprised with a downside read, rates markets extending the curve flattening long end rally.

Obama: Europe Crisis Starting To Cast Shadow On US Economy


WASHINGTON (MNI) - President Barack Obama on Friday said the raging sovereign debt and banking crisis in the euro area is beginning to seep across the Atlantic and "cast a shadow" on the U.S. economy.

"Our economy is still facing some serious headwinds," Obama said in remarks at the Honeywell Golden Valley Facility in Golden Valley, Minnesota, where he renewed calls for Congress to act on his "To Do List" to aid growth.

He pointed to the spike in gasoline prices a few months ago, which

-- although now on a downward trend -- "are still hitting people's

wallets pretty hard."

And more recently, the crisis in the eurozone "is having an impact worldwide and is starting to cast a shadow on our own as well," Obama said.

Federal Reserve State of Play - By Steve Beckner - June 1,2012


A third straight month of discouraging job data and other signs the recovery is losing momentum, together with intensifying downside risks from abroad, are unquestionably increasing the odds of further monetary easing, perhaps as early as the Feds' June 19-20 Federal Open Market Committee meeting. But ironically, those same forces are pushing market interest rates to unheard-of lows, s

Summary of Select US May Auto Sales Figures Reported Jun 1


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

* General Motors Friday reported May sales of 245,256 vehicles in the United States, up 11% year over year and the highest monthly total since August 2009 when dealers delivered 246,479 units. GM retail sales were up 14% year-over-year and the retail mix was 70%. Fleet sales increased 3%. Buick and GMC both reported sales increases of 19% and Chevrolet was up 10%. Sales of GM small and compact cars were up 16% in May versus a year ago. Combined sales of all seven Chevrolet, Buick, GMC and Cadillac crossovers were up 14% versus a year ago.

US Corporate Bond Chatter: Daze of Credit Deterioration


NEW YORK, June 1 (MNI) - Issuers of investment-grade debt this week generally zipped through quickly-closing windows of opportunity, spurred by rising uncertainties over Europe's debt crisis and by jitters over the slowing pace of global economic growth.