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AUSSIE 3-YEAR TECHS

(Z1) Neutral at Higher Levels

AUSSIE BONDS

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RATINGS

Italy Upgraded At Fitch, Affirmations Elsewhere

ASIA

Coming up in the Asia-Pac session on Monday:

European Economic Data Calendar

--Rating: *** most market sensitive, * least market sensitive
     
Date   GMT /Local                                             Prior  Est.
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20-Jun 0600/0800 **  May    DE PPI m/m                          0.5    --   %
20-Jun 0600/0800 **  May    DE PPI y/y                          2.0    --   %
 
21-Jun 0645/0845 **  Jun    FR Manufacturing Sentiment        109.0    --
21-Jun 0645/0845 *   Jun    FR Business Climate Indicator     106.0    --
21-Jun 0645/0845 *   Jun    FR Services Sentiment             103.0    --
21-Jun 0700/0900 *   Apr    ES industrial orders y/y wda        5.0    --   %
21-Jun 0700/0900 *   Apr    ES services survey y/y              6.5    --   %
21-Jun 0730/0930 ***        CH SNB policy decision            -0.75    --
21-Jun 1400/1600 **  Jun    EU consumer confidence (p)          0.2   0.1
 
22-Jun 0600/0800 *   Apr    DE construction orders m/m        -15.1    --   %
22-Jun 0645/0845 *** Q1     FR GDP (f) q/q                      0.2   0.2   %
22-Jun 0645/0845 *** Q1     FR GDP (f) y/y                      2.2    --   %
22-Jun 0700/0900 **  Jun    FR Markit Services PMI (p)         54.3  54.3
22-Jun 0700/0900 **  Jun    FR Markit Manufacturing PMI (p)    54.4  54.1
22-Jun 0730/0930 **  Jun    DE Markit Manufacturing PMI (p)    56.9  56.0
22-Jun 0730/0930 **  Jun    DE Markit Services PMI (p)         52.1  52.1
22-Jun 0800/1000 **  Jun    EU Markit Manufacturing PMI (p)    55.5  55.1
22-Jun 0800/1000 **  Jun    EU Markit Services PMI (p)         53.8  53.6
22-Jun 0800/1000 **  Jun    EU Markit Composite PMI (p)        54.1  53.9
22-Jun 1300/1500 **  Jun    BE BNB Business Sentiment           0.2    --
 
25-Jun 0700/0900 **  May    ES PPI m/m                          0.7    --   %
25-Jun 0700/0900 **  May    ES PPI y/y                          1.9    --   %
25-Jun 0800/1000 *** Jun    DE IFO Business Climate Index     102.2    --
 
27-Jun 0645/0845 **  Jun    FR Consumer Sentiment             101.0    --
27-Jun 0800/1000 **  Jun    IT ISTAT Business Confidence      104.7    --
27-Jun 0800/1000 **  May    EU M3 y/y                           3.9    --   %
27-Jun 0800/1000 **  May    EU M3 3m. average                   4.0    --   %
27-Jun 0800/1000 **  Jun    IT ISTAT Consumer Confidence      113.7    --
 
28-Jun 0600/0800 *   Jun    DE GFK Consumer Climate            10.7    --
28-Jun 0600/0800 *** Jun    DE HICP (p) m/m                     0.6    --   %
28-Jun 0600/0800 *** Jun    DE HICP (p) y/y                     2.2    --   %
28-Jun 0700/0900 *   May    ES retail sales y/y wda             0.5    --   %
28-Jun 0700/0900 *** Jun    ES HICP (p) m/m                     0.9    --   %
28-Jun 0700/0900 *** Jun    ES HICP (p) y/y                     2.1    --   %
28-Jun 0900/1100 **  Jun    EU Economic Sentiment Indicator   112.5    --
28-Jun 0900/1100 *   Jun    EU Business Climate Indicator      1.45    --
28-Jun 0900/1100 *   Jun    EU Consumer Confidence              0.2    --
28-Jun 0900/1100 *   Jun    EU Industrial Sentiment             6.8    --
28-Jun 0900/1100 *** Jun    IT HICP (p) m/m                     0.3    --   %
28-Jun 0900/1100 *** Jun    IT HICP (p) y/y                     1.0    --   %
 
29-Jun 0600/0800 **  May    DE Import Price Index m/m           0.6    --   %
29-Jun 0600/0800 **  May    DE Import Price Index y/y           0.6    --   %
29-Jun 0600/0800 **  May    DE Export Price Index m/m           0.2    --   %
29-Jun 0600/0800 **  May    DE Export Price Index y/y           0.7    --   %
29-Jun 0600/0800 **  May    DE retail sales m/m                 2.3    --   %
29-Jun 0600/0800 **  May    DE retail sales y/y                 1.2    --   %
29-Jun 0600/0800 **  May    DE ILO employment change             35    -- k 
29-Jun 0645/0845 **  May    FR Consumer spending m/m           -1.5    --   %
29-Jun 0645/0845 **  May    FR Consumer Spending  y/y           0.2    --   %
29-Jun 0645/0845 **  May    FR PPI m/m                         -0.7    --   %
29-Jun 0645/0845 **  May    FR PPI y/y                          2.3    --   %
29-Jun 0645/0845 *** Jun    FR HICP m/m (p)                     0.5    --   %
29-Jun 0645/0845 *** Jun    FR HICP y/y (p)                     2.3    --   %
29-Jun 0700/0900 *   Jun    CH KOF Economic Barometer         100.0    --
29-Jun 0755/0955 **  Jun    DE unemployment rate                5.2    --   %
29-Jun 0755/0955 **  Jun    DE unemployment change m/m          -11    -- k 
29-Jun 0900/1100 *** Jun    EU HICP (p) 'core' y/y              1.1    --   %
29-Jun 0900/1100 *** Jun    EU HICP (p) y/y                     1.9    --   %
 
02-Jul 0645/0845 *   Jun    FR car registrations y/y            0.2    --   %
02-Jul 0715/0915 **  May    CH retail sales m/m                 0.0    --   %
02-Jul 0715/0915 **  May    CH retail sales wda y/y             2.2    --   %
02-Jul 0715/0915 **  Jun    ES Markit Manufacturing PMI (f)    53.4    --
02-Jul 0745/0945 **  Jun    IT Markit Manufacturing PMI (f)    52.7    --
 
03-Jul 0700/0900 *   Jun    ES unemployment m/m               -2.51    --   %
03-Jul 0700/0900 *   Jun    ES unemployment y/y               -6.04    --   %
03-Jul 0900/1100 **  May    EU retail sales m/m                 0.1    --   %
03-Jul 0900/1100 **  May    EU retail sales y/y wda             1.7    --   %
03-Jul 0900/1100 **  May    EU PPI m/m                          0.0    --   %
03-Jul 0900/1100 **  May    EU PPI y/y                          2.0    --   %
 
04-Jul 0715/0915 **  Jun    ES Markit Services PMI (f)         56.4    --
04-Jul 0745/0945 **  Jun    IT Markit Services PMI (f)         53.1    --
 
05-Jul 0600/0800 **  May    DE manufacturing orders m/m        -2.5    --   %
05-Jul 0600/0800 **  May    DE manufacturing orders  y/y wda   -0.1    --   %
05-Jul 0700/0900 **  May    ES industrial production y/y        1.9    --   %
05-Jul 0715/0915 *** Jun    CH CPI m/m                          0.4    --   %
05-Jul 0715/0915 *** Jun    CH CPI y/y                          1.0    --   %
05-Jul 0800/1000 *   Jun    DE VDMA machine orders y/y         12.0    --   %
 
06-Jul 0600/0800 **  May    DE industrial production m/m       -1.0    --   %
06-Jul 0600/0800 **  May    DE industrial production wda y/y    2.0    --   %
06-Jul 0645/0845 *   May    FR foreign trade                   -5.0    -- b E
06-Jul 0645/0845 *   May    FR current account                 -1.1    -- b E
06-Jul 0900/1100 *   May    IT retail sales m/m                -0.7    --   %
06-Jul 0900/1100 *   May    IT retail sales y/y nsa            -4.6    --   %
 
09-Jul 0545/0745 **  Jun    CH unemployment rate                2.6    --   %
09-Jul 0545/0745 **  Jun    CH unemployment m/m                -8.7    --   %
09-Jul 0545/0745 **  Jun    CH unemployment y/y               -21.7    --   %
09-Jul 0600/0800 **  May    DE trade balance m/m               19.4    -- b E
09-Jul 0600/0800 **  May    DE trade balance exports m/m       -0.3    --   %
09-Jul 0600/0800 **  May    DE trade balance imports m/m        2.2    --   %
09-Jul 0645/0845 **  Jun    FR BOF Manufacturing Sentiment    100.0    --
                                 Index
09-Jul 0645/0845 **  Jun    FR BOF Services Sentiment Index   101.0    --
09-Jul 1000/1200 *   May    EU OECD Leading Indicator          99.9    --
 
10-Jul 0645/0845 *   May    FR industrial production m/m       -0.5    --   %
10-Jul 0645/0845 *   May    FR industrial production y/y        2.1    --   %
10-Jul 0800/1000 *   May    IT industrial production m/m       -1.2    --   %
10-Jul 0800/1000 *   May    IT industrial production y/y wda    6.7    --   %
10-Jul 0900/1100 *** Jul    DE ZEW Current Conditions Index    80.6    --
10-Jul 0900/1100 *** Jul    DE ZEW Current Expectations Index -16.1    --
 
12-Jul 0900/1100 **  May    EU industrial production m/m       -0.9    --   %
12-Jul 0900/1100 **  May    EU industrial production y/y wda    1.7    --   %
 
13-Jul     -     *   Jun    FR BOF retail trade q/q             0.9    --   %
 
16-Jul 0900/1100 *   May    EU trade balance                   18.1    -- b E
16-Jul 0900/1100 *   May    EU trade balance nsa               16.7    -- b E
 
17-Jul 0600/0800 *   Jun    EU ACEA car registrations y/y       0.8    --   %
17-Jul 0800/1000 *   May    IT industrial orders m/m           -1.3    --   %
17-Jul 0800/1000 *   May    IT industrial orders y/y nsa        6.4    --   %
 
18-Jul 0600/0800 *   Jun    DE wholesale prices m/m             0.8    --   %
18-Jul 0600/0800 *   Jun    DE wholesale prices y/y             2.9    --   %
18-Jul 0900/1100 **  May    EU construction prod m/m            1.8    --   %
18-Jul 0900/1100 **  May    EU construction prod y/y wda        1.8    --   %
 
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[TOPICS: MTABLE]