Market Movers
The ongoing negotiations between the Greek government and the creditor institutions continue to be in focus as no deal was reached yesterday. Today's EU leaders summit previously seemed to be the deadline for reaching a deal but another Eurogroup meeting has been confirmed on Saturday and the deadline has thus been moved into the weekend.
In terms of data releases euro-area money supply and bank lending should continue to improve as the ECB's liquidity boost is finding its way through to private consumption and investments. The monetary easing is also reflected in lower cost of borrowing. The recent sell-off in the fixed income markets has not yet affected lending rates, hence the impact on economic activity should be limited.
In the US the final June University of Michigan consumer confidence is likely to show a modest further improvement in the last weeks of June
Swedish figures and Riksbank board meeting today. For more on Scandi markets see page 2.
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