***Looking Ahead***

– (EU) EU Leaders hold Summit in Brussels
– Germany Chancellor Merkel and French President Sarkozy to separately hold Greek crisis talks
– (AR) Argentina Jun Consumer Confidence: no est v 55.6 prior
– 11:00 (US) Fed to purchase $1.0-1.5B in Notes/Bonds
– 12:00 (CO) Colombia Q1 GDP Y/Y: 4.9%e v 4.6% prior
– 13:00 (US) Treasury to sell $7.0B in 30-Year TIPS Reopening
– 15:00 (AR) Argentina May Trade Balance: $1.6Be v $1.3B prior
– 16:00 (US) Apr RPX Composite 28day Y/Y: No est v 0.5% prior; RPX Composite 28day Index: no est v 179.78 prior

10:30 AM Market Internals update at 10:30ET

– NYSE volume 210M shares, about 13% above its three-month average; decliners lead advancers by 6.2:1.
– NASDAQ volume 435M shares, about even to its three-month average; decliners lead advancers by 4.3:1.
– VIX index +12% at just over 20.00

5:46 AM TradeTheNews.com European Market Update: Weaker PMI data and concerns over Greek Parliament passage of upcoming austerity vote weight on risk appetite

***Economic Data***

– (SZ) Swiss May Trade Balance (CHF): 3.3B v 1.4B prior; Exports real M/M: -1.5% v 3.1% prior; Imports real M/M: -8.4% v 5.9% prior
– (IN) India Primary Articles WPI w/e Jun 11th Y/Y: 12.6% v 12.9% prior; Food Articles WPI Y/Y: 9.1 v 9.0% prior
– (FR) France Jun Preliminary PMI Manufacturing: 52.5v 54.0e (22-month low); PMI Services: 56.7 v 60.5e (6-month low)
– (RU) Russia Gold & Forex Reserve w/e Jun 17th: $520.3B v $528.0B prior
– (NV) Netherlands Q1 Final GDP Q/Q: 0.9% v 0.9%e; Y/Y: 2.8% v 3.2%e
– (NV) Netherlands May Unemployment Rate: 5.1% v 5.0%e
– (SW) Sweden May PPI M/M: -0.9% v 0.0%e; Y/Y: 1.0% v 1.9%e
– (GE) Germany Jun Advanced PMI Manufacturing: 54.9 v 57.0e; PMI Services: 58.3 v 55.7e
– (IT) Italy Jun Consumer Confidence: 105.8 v 105.3e
– (EU) Euro Zone Jun Advanced PMI Manufacturing: 52.0 v 53.8e; PMI Services: 54.2 v 55.3e; PMI Composite: 53.6 v 55.2e
– (TT) Taiwan May Industrial Production Y/Y: 7.8% v 5.9%e; Commercial Sales Y/Y: 3.8% v 4.2%e
– (UK) May BBA Loans for House Purchase: 30.5K v 30.0Ke
– (HK) Hong Kong Current Balance of Payments: $40.6B v $26.0B prior; Overall Balance of Payments: $18.7 v $30.1b prior
– (IC) Iceland May Wage Index M/M: 1.2% v 0.1% prior; Y/Y: 5.3% v 4.4% prior
– (UK) Jun CBI Industrial Reported Sales: -2 v +13e v 18 prior
– (IR) Ireland Q1 Current Account: -€1.0B v +€1.6B prior
– (IR) Ireland Q1 GDP Q/Q: +1.3% v +0.5%; Y/Y:+0.1% v -1.4%e
– (IS) Israel Apr Unemployment Rate: 5.8%

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