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U.S. Day Ahead: All eyes on Europe, Fed

Tuesday, June 05, 2012 - 02:40

June 5 - Investors are looking for any hints about Fed policy ahead of Ben Bernanke's testimony on the Hill on Thursday.

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News from the services sector today did not offset fears about Europe although -- -- -- let investors worry that I leave from recent economic reports. Concerns about escalation of the Euro zone's debt crisis kept. Pressure on the market and there was some great news from Spain Reuters economics -- -- it's somber here. It looks like the country's financial woes have now it. This is looking pretty to Mexicans blame the country's. Treasury Secretary -- -- total. He said that the country was effectively lock out the financial markets which -- the times -- -- today on Thursday when Spain is gonna go to the markets myself. -- some -- there are very big concerns about Spain and process of progress towards some sort of rescue has been seems to be making very slow progress. What time CB does meet tomorrow is anything gonna come out of that could be helpless and most economists expect the ECB not really do anything samarra lies keep rates on hold. And not taken any measures I think. The ECB you've already be with reluctance to be riding the rescue of the European governments that time and I can't agree on measures themselves. Meantime it's a pretty big day for US central bankers three Federal Reserve president Dennis Lockhart John Williams an island that reserve vice chair. Janet yell at all speaks tomorrow the court that chairman Bernanke goes to the hill on Thursday so bill do you think. Think we might expect any of tomorrow's. Fed speeches. To lay ground work for what we hear from Bernanke later in the week. You have to look at one of what's what Janet Yellen says she's very close to Bernanke's assistant sheriff -- she's speaking tomorrow evening what we've heard so far today. From. It's. Fisher. It's dentsply. It's just the Fed is in no hurry through and take extremists of the problems -- -- but they tend to be on the hawkish side effects spectrum of opinion and. -- somber thanks so much appreciate it. Really get some economic numbers tomorrow second estimate of the US Labor Department's nonfarm productivity and costs is out. Also we get the mortgage refinancing index and the Fed's Beige Book. And now we're gonna leave you with these images of the queen's Diamond Jubilee in England which ended today. And that's AUS day ahead let's fund letter writers insider and also check out our team -- and on Reuters dot com I'm Rhonda schaffler this is writers.

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U.S. Day Ahead: All eyes on Europe, Fed

Tuesday, June 05, 2012 - 02:40