Epstein Secrets

ts adjustment supports our view that the euro area will continue to accumulate foreign assets until its NIIP reaches levels above 30% of GDP or so. Finland is an interesting case study in that it illustrates that a small positive NIIP does not necessarily turn an economy into a mature creditor nation a

tes. Its NIIP then quickly deteriorated as small and unstable current account surpluses were insufficient to offset negative valuation effects. The Lehman and most importantly the Eurozone crisis marked an inflection point, and the euro area has since run current account surpluses of a greater order o

Tuesday: Congress back from recess, ISM Non-Manufacturing Index, Citigroup Technology Conference (NYC), Eurozone GDP, FinMins (Germany, Netherlands, Finland) meet to discuss Greece, RBA Cash Target, Earnings (PBY) Wednesday: Republican presidential debate, Fed's Beige Book, MBA Mortgage Applications, J

/newsbysector/banksandfinance/8736081/Banks- still-expect-taxpayer-to-pay-for-their-failure.html> Central bank flight to Federal Reserve safety tops Lehman crisis Telegraph<http://www.telegraph.co.uk/finance/financialcrisis/8736204/Central-bank-flight-to- Federal-Reserve-safety-tops-Lehman-crisis.html>

s trust (trading +5%) China "very close" to starting a board for listing of overseas companies in Shanghai (global manufacturers to have priority) Finland's economy grew faster than expected (led by investments) as expansion in northernmost euro member extended to 5th qtr Leading European Sectors: Aut

WSJ<http://online.wsj.com/article/SB10001424052702303745304576361803286692710.html> Nomura cuts top 10 Executives' pay 38% as earnings slump after Lehman buy Bloomberg<http://www.bloomberg.com/news/2011-06-03/nomura-cut-top-10-executives-pay-38-after- earnings-slump-1-.html> Hackers attack another So