Lunes 20/06/11 Semana del Fed

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PNC comprara una unidad de RBC (Royal Bank of Canada)

Las donaciones de caridad aumentaron 3.8% a $290.8 billones en US en el 2010.

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Humala afirma que comparte una visión de integración con Evo Morales
Domingo, 19 de Junio 2011  |  1:46 pm

AND / Foto: AndinaEl electo presidente dijo que en la reunión que sostendrá con el mandatario boliviano espera plasmar proyectos de integración cultural, comercial, y económica entre ambos países.
El presidente electo Ollanta Humala afirmó que tiene "una visión de integración bastante compartida" con el mandatario  de Bolivia, Evo Morales, y remarcó que esto pasa por luchar contra la pobreza, la desigualdad, la exclusión y el narcotráfico.

Humala, que viajará este lunes por la noche a La Paz para reunirse el martes con Morales, consideró que este será "un encuentro importante, porque Bolivia y Perú son una misma nación y hay una nacionalidad fuertemente aimara", en referencia al pueblo indígena que vive en el altiplano de ambos países.

"Con Evo (Morales) me conozco desde cuando él era diputado, candidato a la presidencia", reveló en declaraciones al canal de televisión local Frecuencia Latina.

En ese sentido, Humala Tasso dijo que espera hablar "como futuro Gobierno (de Perú) para plasmar estos proyectos de integración cultural, comercial, económica que en varias oportunidades hemos conversado y ahora creo que podemos hacer".

Asimismo, señaló que ese será el propósito de sus anunciadas visitas a Venezuela, Ecuador y Colombia, ya que consideró que entre los Sudamericanos es necesario darse "la mano todos", para luchar contra la pobreza y el narcotráfico.

"Acá no se trata de temas ideológicos, sino de resolver los verdaderos problemas y combatir los verdaderos enemigos del país que son la pobreza, la desigualdad, la exclusión y el narcotráfico y para eso tenemos que darnos la mano todos", ratificó. EFE

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[Comodoro]

Los graficos del dia,
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5:23 p.m. EDT 06/17/11Treasurys
    Price Chg Yield %
2-Year Note*   0/32 0.384
10-Year Note*   -4/32 2.945
* at close
11:33 p.m. EDT 06/19/11Futures
  Last Change Settle
Crude Oil 92.12 -0.89 93.01
Gold 1538.0 -1.1 1539.1
DJ Industrials 11906 7 11899
S&P 500 1262.00 -4.00 1263.50
11:43 p.m. EDT 06/19/11Currencies
  Last (bid) Prior Day †
Japanese Yen (USD/JPY) 80.23 80.05
Euro (EUR/USD) 1.4256 1.4312
† Late Friday in New York.

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Au down, oil down, Ag up, futures cu down a 4.09

Euro down

El Shanghai C. -0.88%

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Yields up 2.94%

Oil down 91.99 au down 1,538

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Europa no logra acuerdo para ayudar a Grecia. Grecia debe primero hacer recortes en su presupuesto.

Europe Fails to Agree on Greek Aid Payout
By James G. Neuger and Stephanie Bodoni - Jun 19, 2011 9:12 PM ET
George Papandreou, Greece's prime minister. Photographer: Louisa Gouliamaki/AFP/Getty Images

European governments failed to agree on releasing a loan payment to spare Greece from default, ramping up pressure on Prime Minister George Papandreou to first deliver budget cuts in the face of domestic opposition.
On the eve of a confidence vote that may bring down Papandreou’s government, euro-area finance ministers pushed Greece to pass laws to cut the deficit and sell state assets. They left open whether the country will get the full 12 billion euros ($17.1 billion) promised for July as part of last year’s 110 billion-euro lifeline.
“We forcefully reminded the Greek government that by the end of this month they have to see to it that we are all convinced that all the commitments they made are fulfilled,” Luxembourg Prime Minister Jean-Claude Juncker told reporters early today after chairing a euro-crisis meeting in Luxembourg.
Decisions on the next payout and a three-year follow-up package were put off until early July, prolonging Greece’s fiscal agony and heightening the brinksmanship that has marked Europe’s handling of the unprecedented debt crisis.
The seven-hour finance ministers’ meeting coincided with the start of a three-day Greek parliamentary debate in Athens over a confidence vote in a new cabinet at what Papandreou called a “critical crossroads.” Papandreou has 155 seats in the 300-seat parliament.
Referendum Proposal
The Greek premier said he planned to hold a referendum later in the year on a constitutional revamp with the goal of tackling the root causes of Greece’s debt and deficits that are “symptoms of the illness, not the cause.”
Papandreou travels to Brussels today to meet European Union President Herman Van Rompuy and European Commission President Jose Barroso. The confidence vote is scheduled for late tomorrow. The Greek crisis is set to dominate an EU summit in Brussels on June 23-24.
“The communication cacophony surrounding the policy response in our view is one of the reasons why the risk of contagion has remained and remains high,” said Silvio Peruzzo, an economist at Royal Bank of Scotland Group Plc in London.
The euro meeting was flanked by a teleconference of Group of Seven financial officials, two weeks after President Barack Obama singled out Germany as the key country responsible for preventing an “uncontrolled spiral of default” in Europe.
Prospects for a second aid package to stave off the euro area’s first default had been enhanced by last week’s decision by German Chancellor Angela Merkel to drop calls for a mandatory bond exchange that might lead credit rating companies to declare Greece unable to pay its bills.
Merkel’s Concession
Merkel’s June 17 concession gave a lift to stocks, bonds and the euro, spurring optimism that Europe would get ahead of the debt crisis that has exposed the weaknesses of the 17- country currency union.
While the German gesture buoyed Greek bonds, the 10-year yield of 16.94 percent remains almost 14 percentage points above the yield on German bonds, Europe’s safest investment. Standard & Poor’s on June 13 cut Greece by three levels to CCC, branding it with the world’s lowest debt grade.
Speculation that Greece will default has bled into other European markets, leading economists such as Nouriel Roubini to predict that the 17-nation euro, the high point of Europe’s economic integration, won’t survive in its current form.
“I don’t rule out that Greece and Portugal, if they aren’t able to recover competitiveness and growth and social tension further increases, may go back to the drachma and escudo on the wave of populist governments,” Roubini, head of Roubini Global Economics LLC, told Italy’s Il Sole 24 Ore on June 18.
Spanish Spread
Ireland and Portugal followed Greece in obtaining emergency loans in the past year. Spain’s finances came under the microscope last week, with investors pushing the extra yield on 10-year Spanish bonds to 261 basis points, the highest weekly close since January.
Moody’s Investors Service said June 17 it may cut its Aa2 rating on Italy, with 2010 debt of 119 percent of gross domestic product, Europe’s second highest after Greece.
Greece needs to cover about 4 billion euros of bills maturing between July 15 and July 22, and faces about 3 billion euros of coupon payments in the month, according to Bloomberg calculations. A bigger test comes Aug. 20 when Greece must redeem 6.6 billion euros of maturing bonds.
Venizelos Commitment
The new Greek finance minister, Evangelos Venizelos, who was named in Papandreou’s cabinet overhaul three days ago, came to Luxembourg with a “strong commitment” to the planned 78 billion euros in budget cuts that provoked street protests last week.
“We can achieve our target thanks to the efforts of our people and thanks to the cooperation and the assistance of our partners,” Venizelos said.
More than 47 percent of 1,208 Greeks surveyed by Kapa Research SA for To Vima newspaper oppose the wage and spending cuts and higher taxes, and want early elections. Almost 35 percent said the package should be approved.
Germany, which as Europe’s largest economy is the biggest guarantor of the aid packages to Greece, Ireland and Portugal, insists on an “ambitious” economic overhaul in Athens, Finance Minister Wolfgang Schaeuble said.
“It also depends on Greece making the necessary decisions with a fundamental consensus of the political parties so that we can be confident that Greece will live up to its commitments,” Schaeuble said.
Greek Rollovers
The key plank of a second aid package would be a pledge by banks, insurance companies and asset managers to buy new Greek bonds to replace maturing ones, instead of European governments stepping in with taxpayers money.
In a statement, the ministers said the unlocking of fresh aid depends on working out “voluntary private sector involvement in the form of informal and voluntary rollovers of existing Greek debt at maturity.”
While Germany bowed to European Central Bank and French demands not to compel investors to buy new Greek bonds as old ones expire, the lines are blurry between a “voluntary” and “compulsory” rollover that would lead rating companies to declare Greece in default.
On the table are incentives for bondholders to maintain their exposure to Greece.

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7:09 a.m. EDT 06/20/11Treasurys
    Price Chg Yield %
2-Year Note   -0/32 0.388
10-Year Note   10/32 2.911
* at close
7:14 a.m. EDT 06/20/11Futures
  Last Change Settle
Crude Oil 91.78 -1.23 93.01
Gold 1538.0 -1.1 1539.1
DJ Industrials 11875 -24 11899
S&P 500 1259.70 -6.30 1263.50
7:25 a.m. EDT 06/20/11Currencies
  Last (bid) Prior Day †
Japanese Yen (USD/JPY) 80.25 80.05
Euro (EUR/USD) 1.4217 1.4312
† Late Friday in New York.

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Copper June 20,07:19
Bid/Ask 4.0615 - 4.0628
Change -0.0448 -1.09%
Low/High 4.0518 - 4.1176
Charts

Nickel June 20,07:18
Bid/Ask 9.7562 - 9.7684
Change +0.0032 +0.03%
Low/High 9.7049 - 9.8582
Charts

Aluminum June 20,07:19
Bid/Ask 1.1248 - 1.1252
Change -0.0002 -0.02%
Low/High 1.1182 - 1.1344
Charts

Zinc June 20,07:19
Bid/Ask 0.9789 - 0.9801
Change -0.0124 -1.25%
Low/High 0.9770 - 1.0015
Charts

Lead June 20,07:19
Bid/Ask 1.0827 - 1.0847
Change -0.0111 -1.02%
Low/High 1.0790 - 1.1016

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Au down

SPOT MARKET IS OPEN
closes in 9 hrs. 48 mins.
Jun 20, 2011 07:27 NY Time
 Bid/Ask 1536.90 - 1537.90
 Low/High 1534.20 - 1540.20
 Change -3.10   -0.20%
30daychg +49.90   +3.36%
1yearchg +306.40   +24.90%

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TODAY'S MARKETSJUNE 20, 2011, 7:23 A.M. ET
U.S. Futures Point to Lower Open

By BARBARA KOLLMEYER

MADRID—U.S. stock futures were pointing to a lower open for Wall Street, with markets expected to track losses in Europe after a weekend meeting of euro-area finance ministers failed to wipe out fears of a Greek default.

More than two hours before the start of trading, Dow Jones Industrial Average futures fell 59 points to 11879. The S&P 500 futures dropped 6.7 points to 1259.5 and Nasdaq 100 futures lost 10.5 points to 2179.75. Changes in futures don't always accurately predict early market moves after the opening bell.

Wall Street confidence was overshadowed by losses for European stock markets after European Union finance ministers, in a meeting on Sunday, said the approval of the release of a $16.8 billion tranche of a $155 billion aid package would likely be released mid-July.

Many market observers were hoping the tranche would be immediately released this weekend, but leaders want to see austerity measures put in place before the money is released. That next installment is key to preventing debt default in Greece. In addition, discussions for a second bailout package were pushed into July.

"It seems that the European leaders have put the ball now back in Greece's court," said Jim Reid, strategist at Deutsche Bank in a note. "The current government needs to show the ability to gain political support for the reform conditions to unlock the €12 billion loan ($17.17 billion) so the vote of confidence scheduled for tomorrow [for Greek Prime Minister George Papandreou's government] is likely to be a key event."

U.S. stocks took hits last week from Greece uncertainty, but the Dow Jones Industrial Average and the S&P 500 index managed to break six-week losing streaks. The Dow Industrials rose 0.4% to close the week at 12004, while the S&P 500 broke even at 1271. The Nasdaq Composite index shed 1% to mark its fifth straight losing week.

There are no economic or corporate events on the calendar for Monday.

Shares of Boeing could be in focus after Qatar Airways placed a $1.7 billion order for six Boeing 777-300s at the international 2011 Paris Air Show. Shares of PNC Financial Services Group could be active after it reportedly agreed to buy the U.S. retail banking arm of Royal Bank of Canada for $3.45 billion for a mix of cash and stock, The Wall Street Journal said, citing persons familiar with the matter.

Shares of Ford Motor will be watched after The Wall Street Journal reported on Sunday that the company is spending $1 billion to develop seven all-new or upgraded autos for its Lincoln brand that will roll out in the next four years. The Journal cited dealers who had been briefed by the company.

Commodity prices drifted lower as the dollar rose on Greece uncertainty. The dollar tends to move inversely to dollar-denominated commodities. The dollar index, which measures the performance of the dollar against a basket of six other currencies, rose 0.4% to 75.301.

Crude oil futures for July delivery fell $1.14 to $91.87 a barrel, while gold futures for August delivery fell 40 cents to $1,538.7 an ounce.

Asia stocks mostly fell on Monday, as Hong Kong and Shanghai shares were weighed by renewed worries over Chinese economic growth and potentially more moves to cool housing prices.

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Oil down 91.45

Au down 1,36

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