• There goes the upside case: 467k job cuts on 363k expected, 9.5% unemployment, 14.7 million officially unemployed (BLS, AP)
  • And not just the US - Unemployment up to 9.5% in Eurozone as well (BBC)
  • In the same time over in La-La land... (FT)
  • Band Aid feature of the day: Europe to give $1.7 billion to Latvia (NYT)
  • Exelon raises hostile bid for NRG to $7.5 billion (Reuters)
  • Porsche loan requests likely to fail says state official (Bloomberg)
  • Ireland next: Moody's cuts rating from AAA to Aa1 (MarketWatch)
  • Rise in asset prices: new challenge for Asian banks (Morgan Stanley)
  • Treasury to name 9 toxic managers (WSJ) [no, PIMCO? Blackrock? really? what a total shock]
  • Speaking of Bill Gross: Bon or Non Appetit (PIMCO)
  • ISM Manufacturing: no V-shaped recovery (Wachovia)
  • Inflation or Hyperinflation? (Merk Mutual Funds)
  • Gallup: Investor optimism tumbles in June (Gallup)