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June 2015 Conference Board Consumer Confidence Modestly Improves Again

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Written by Doug Short and Steven Hansen

The Conference Board Consumer Confidence Index modestly improved. The market expected this index to come in at 94.5 to 99.0 (consensus 97.4) versus the 101.4 reported.

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What We Read Today 29 June 2015

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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Every day most of this column ("What We Read Today") is available only to GEI members.

To become a GEI Member simply subscribe to our FREE daily newsletter.

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 more features, analysis, studies, and news published in the last week

The Stimulative Effect Of Wealth Redistribution

by San Francisco Fed

-- this article authored by Bart Hobijn and Alexander Nussbacher

Policymakers often consider temporarily redistributing income from rich to poor households to stimulate the economy. This is based in part on the idea that poor households spend a larger share of their income than rich ones do. However, ample evidence suggests that the difference in spending between these groups is significantly smaller than commonly assumed. A second assumption is that redistribution through policy is more efficient than through capital markets. Whether this is true is important to consider when proposing this type of stimulus policy.

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Infographic Of The Day: How NASA's Gemini Spacecraft Worked

To follow the successful series of Mercury flights, NASA planned the Gemini spacecraft for the mid-1960s.

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Video of the Day:

The Iranian Foreign Minister Mohammad Javad Zarif has flown from Vienna to Tehran for consultations after holding tough negotiations with his Western counterparts on the Iranian Nuclear program. The negotiations on the final bargaining conditions of Tehran's nuclear program have ended with no result and it's become evident that they will pass over the Tuesday deadline.


video of day picture





FOREX NEWS by DailyForex

ECB To Refuse Further Greek Liquidity

With the dramatic events of Friday and Saturday still being considered, the European Central Bank (ECB) met on Sunday and decided that it would not extend Emergency Liquidity Assistance (ELA) to the Greek central bank above its current level of €89 billion.

Tsipris: Greece is Still in the Game

With d(default)-day right around the corner, Prime Minister Alex Tsipris believes he hasn’t lost the battle just yet. In a television interview several hours ago, Tsipris suggested that European leaders would not have the nerve to kick his country out of the eurozone membership and that the cost of their doing so would be “enormous.”

Forex Week in Review

Last week saw the final trading session for the week, the month and the quarter from the perspective of these summaries. Much of that time has been pre-occupied with the Greek crisis which seems to have come to a head now.

Exit Stage Left?

Negotiations between Greece, the IMF and organs of the European Union came to a head on Friday. Most people had expected that some kind of 12th hour (it was that late) deal would be struck which would allow the left-wing Tsipras government to save face, but deliver some of the structural reforms that the major creditors had demanded

Greek Banks and Markets to Remain Closed

We all expected it and it has happened. Greek banks will be keeping their doors shut on Monday for an entire week. Piraeus Bank SA Chief Executive Officer Anthimos Thomopoulos told reporters of his decision Sunday after a meeting of the government’s financial-stability committee.
 more investing, markets, precious metals & forex

30Jun2015 Pre-Market Commentary: Greek D-(efault) Day, Grexit Almost Assured, Markets Relatively Stable, Investors Obviously Concerned



 more opinion

Path to Grexit Tragedy Paved by Political Incompetence

by Barry Eichengreen,, The Conversation

Since our last episode, the crisis in Greece has escalated further. Negotiations between the government and its creditors collapsed over the weekend, and restrictions on bank withdrawals will now follow.

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 USA economy at a glance (boxed items are updates in last 7 days)

June 2015 Chicago Purchasing Managers Barometer Remains in Contraction

Econintersect: The Chicago Business Barometer remains in contraction - even though new orders did improve. Authors of this index now suspect the bounceback in economic growth in Q2 may be weaker than expected.

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