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TVVOU (buy) & upgrades SMLP/NCLH (buy), Imperial initiates VRNS (op) ••• Jefferies initiates AKRX/ANAC/PRGO/XNPT (buy), JMP initiates HIVE (mp) ••• Jefferies assumes NKTR/PCRX/SHPG/SLXP/TEVANRX (buy) & AGN/SGNT/SUPN (hold) ••• KBW upgrades LION, Raja initiates ERIC (mp), Roth initiates GSVC (buy) ••• Sti
rades NFLX (buy), Citi upgrades SRPT, CS upgrades FB ••• GS initiates HIVEJTVVOU (buy) & upgrades SMLP/NCLH (buy), Imperial initiates VRNS (op) ••• Jefferies initiates AKRX/ANAC/PRGO/XNPT (buy), JMP initiates HIVE (mp) ••• Jefferies assumes NKTR/PCRX/SHPG/SLXP/TEVANRX (buy) & AGN/SGNT/SUPN (hold) ••• KBW
of high-risk asset investment, as members of the pension fund's policy-setting committee. Hong Kong was lower as mainland properties fell on back of China Securities Journal running with a front page article saying that there is no need to save the property sector as the banks can take it even if property prices come off
ces KFT estimates, Sterne Agee initiates DDS (buy), Madison Williams downgrades FST/IOC Key Research: Wells initiates R (op) & raises DE estimates, Jefferies downgrades WMS & initiates ITYBY/REMYF (hold) & BTI/DEO (buy) Key Research: Roth initiates ONCC (buy), Piper initiates AVII (ow), SocGen initiates
amid concern "rapid" credit growth to curb liquidity China tightening may ease if nation reports more trade deficits or small monthly surpluses - China Securities Journal (front page) EFTA00435764 Indonesia left rates unchanged (2nd consecutive month) after inflation slowed saying rupiah's gains will contain price
/22 1x2 call spread for .03 credit 6k x 12k TBT last traded above 20 in early april12 Secondaries (announced/priced): DG IPO's: N/A Key Research: Jefferies initiates EDG (buy) & downgrades RAX & upgrades CLR (buy) Key Research: Baird downgrades FMER, Citi downgrades NSM, Janney initiates CSE/CIT (buy's)
an to its cash-strapped power market operator (WSJ< Etihad Airways in talks to buy stake in Air France-KLM according to Dutch daily De Telegraaf China Securities Journal says that the PBOC should cut rates in order to boost confidence Leading European Sectors: Basic Resources +3.74%, Banks +2.73%, Insurance +2.70%
Entities connected to both Jefferies and China Securities Journal

Tony Blair
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William Barr
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Lesley Groff
PERSONIke Groff
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Barron
PERSONFisher
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Barack Obama
PERSONBaird
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Michigan
LOCATIONBarcap
ORGANIZATIONNomura
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Bernanke
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Moody's
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Angela Merkel
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Draghi
PERSONCantor
PERSONExisting Home Sales
ORGANIZATIONSterne Agee
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Nokia
ORGANIZATIONChemicals
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