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Thursday, August 25, 2011

Misc: Friday and Greece

by Calculated Risk on 8/25/2011 09:25:00 PM

The focus tomorrow is on Fed Chairman Bernanke's speech at Jackson Hole, but there will be some economic data too:

8:30 AM: Q2 GDP (second estimate). The first estimate was for 1.3% annualized real growth in Q2. The consensus is for a downward revision to 1.1% GDP growth.

9:55 AM: Reuters/University of Mich Consumer Sentiment final for August. The consensus is for a slight increase to 56.0 from the preliminary August reading of 54.9.

10:00 AM: Fed Chairman Ben Bernanke speaks at the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming, "Near- and Long-Term Prospects for the U.S. Economy"

And on Europe:
From the WSJ: Bailout for Greece Falters Over Demand for Collateral. The Greek 2 year bond yield is almost to 46%.

From the Telegraph: Greece forced to tap emergency fund

In a move described as the "last stand for Greek banks", the embattled country's central bank activated Emergency Liquidity Assistance (ELA) for the first time on Wednesday night.
And from Bloomberg: France, Spain, Italy Extend Bans on Short-Selling