The Traderszone Network

It was a bruiser of a week on Wall St. as we watched practically every sector closer lower and land in the red.  All of the indexes are looking messy and they are all, without exception, correcting. The Russell 2000 looks the worst.

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Coming up from Japan today, Services PPI and BOJ Deputy Governor Hiroshi Nakaso speaks
2350GMT – y/y PPI Services for June,
– expected is +0.6% y/y and prior was +0.6%
Due at 0030GMT, Bank of Japan Deputy Governor Hiroshi Nakaso speaks at a meeting with business leaders in Kumamoto

Late last month in “The Biggest Threat To Chinese Stocks: Shadow Lending Crackdown“, we suggested that the pressure on Chinese equities – which at that point had only begun to build – was at least partially attributable to an unwind in the country’s CNY1 trillion backdoor margin lending edifice. 

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A weekend piece in the says a “key question is whether the Fed will feel any compulsion to formally signal a looming move in this week’s statement”.

Ousted Greek government members mulled unorthodox measures to prepare Greece for a return to its legacy currency, reports say.

Submitted by Alasdair Macleod via GoldMoney.com,

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Second-quarter earnings are expected to be negative. There’s a big reason for that.