Frontrunning: July 2

• 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)
• Jonathan Weil: Crisis won't end until balance sheets get real (Bloomberg)
• 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)

Big thanks to Dan, Baker, Paul, and Aleksey for their very generous donations and support Sphere: Related Content

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