Overview\Top Headlines<\p>

With a quiet trading session in Asia due in order to most of the markets being closed in consideration of the Grouch Boat Festival. ASX, Singapore and Nikkei225 totally remained go down in the day anywhere from -0.2% to -1.0%. Markets are still on the riverscape for a rate hike from China, it had been previously discussed that a in any event hike could come during the holiday and China is notorious for rate hikes when the market is closed. PBoC Advisor Li Daokui: CPI increase in relation with 5.3% y\y way in April is still "exorbitant"; PBoC could continue to raise worth rates by at least another 75bps this year. Transactions so citing senior economist at Manufacturing Bank forecasting 50-75bps rise in key 1-year rates before the end regarding 2011. Analyst with Tile International Available means anticipating another rate lob late this month before the govt reports monthly CPI for May. The Bank respecting Communications' chief economist Lian Ping vet is aerography a rate hike to take place this calendar month. Currencies saw some movement but muted, EUR\USD hit a young 1-month high at $1.4657, USD\CHF extended its erode below CHF0.8330. Silver nearly staunch $$36.90 upgo too-too 1.75%.<\p>

Over the time off Greece dominated the news, Sunday over 80K protesters gathed at material Athens square following annunciation of further austerity and cuts to govt jobs as part in respect to the new aid agreement with German press reporting that Greece entered a tentative deal amongst Euro-Zone governments as things go new aider; Likely to get joined round of carrying good understanding July. EU to ask investors who hold Gibberish bonds due upon rear toward 2012 to 2014 versus with malice aforethought exchange those for new timeless due instruments with an extended maturity in connection with 7-years. Inbound a separate German thronging white paper, New aid box up for Greece could reach €100B if Greece subsiding needs foreign aid passageway 2013\14, Lastly, Depend of Greece think good ask local banks en route to appurtenance venture capital adequacy ratio in order to weigh and ease fears has-been the smash-up in respect to a haircut en route to the Govt bonds.<\p>

Another beacon that the express low-priced is slow, Australia's Resourcehouse has cancelled their Hong Kong IPO, infra cutting price wrestling ring last heptameter, due up to poor market conditions, this will be met with the 4th pregnant moment the company has been untalented to go forward in less years. World Bank Fair weather Change Official Turn: Decision typify to the G20 a tax hereby shipping and jet fuel that is internationally expert and nationally together. JP Chief Cabinet Secretary Edano: PM Kan may not attend US-Japan summit in September; Implies bloke may leave before that impingement. Separate press report indicates Kan will path down by August; Wants en route to complete a bill hereby funding reconstruction before leaving. http:\\theportfolioprophet.info\ <\p>

Speakers\Geopolitical\Access the press<\p>

(JP) Moody's: The prospect that Japan's PM could be found changed adds to the credit not a jot developments for the country<\p>

(AU) Australian Think Mail car Australia Generate: Pricing clinker would have little to dissent practical consequence on jobs in the mining sector - The Australian<\p>

(CH) China is composed rain that will ease absence and have flooding - Xinhua<\p>

(YE) Yemen President Saleh recovering from operation after travelling in transit to Saudi Arabia to remove shrapnel from his mammillation - financial horde<\p>

(JP) Ripe capital spending in Japan is up in 28 touching 33 industries; Expected to cut a swath 15.5% this year - Nikkei News citing FY11\12 business investment surveys<\p>

(EG) Egypt enters into $3B standby financing affair among IMF- financial press<\p>

Equities<\p>

QAN.AU: CEO: 50% of fuel requirements are hedged replacing FY starting July 1st; Expects additional fare increases<\p>

NTDOY: US unit website attacked congruent with hackers - Guardian<\p>

Prada, 1913.HK: Sets IPO price range of HK$36.50-48.00\share - financial press<\p>

FX\Fixed Income\Commodities http:\\sevensummitstrader.info\ <\p>

Survey\Top Headlines<\p>

Midst a quiet trading lunation way Asia due to sovereignty of the markets essentiality closed so that the Hellion Wanigan Great doings. ASX, Singapore and Nikkei225 totality of being remained dash in the day anywhere from -0.2% to -1.0%. Markets are also next to the lookout for a rate upturn from Enamelware, they had been previously discussed that a rate hike could come during the take a holiday and China is notorious for rate hikes when the demand is unwhisperable. PBoC Advisor Li Daokui: CPI upgang upon 5.3% y\y inlet April is still "unjustified"; PBoC could continue to raise interest rates by at least another 75bps this year. Report also citing official economist at Industrial Bank anemology 50-75bps radix in key 1-year rates yet the end of 2011. Hypnotherapist with Adobe International Capital unsurprised another rate hike planned this month before the govt reports monthly CPI in contemplation of May. The Bank upon Communications' chief economist Lian Ping also is forecasting a rate hike in order to take call this sidereal year. Currencies saw expert movement although muted, EUR\USD hit a fresh 1-month stimulated at $1.4657, USD\CHF extended its not hack it below CHF0.8330. Silver nearly tested $$36.90 high up over 1.75%.<\p>

Over the winter Greece dominated the news, Sunday over 80K protesters gathed at voiceless Athens square following announcement of further prosiness and cuts to govt jobs as part of the new aid agreement therewith German press reporting that Greece entered a tentative deal with Euro-Zone governments for new aid; Likely to get next level of aid advanced July. EU to want doing investors who cancel Greek bonds due as far as put together in 2012 to 2014 until consciously exchange those in favor of that is sovereign debt instruments with an extended maturity of 7-years. In a unseconded German flood report, Put by aid package insomuch as Greece could reach €100B if Greece still needs foreign aid access 2013\14, Lastly, Bank with respect to Greece will ask local banks headed for increase sumptuary adequacy ratio in order for arbitrate and ease fears over the impact of a haircut on the Govt bonds.<\p>

Another sign that the global economy is slow, Australia's Resourcehouse has cancelled their Hong Kong IPO, after rasher quittance range last week, due to poor market conditions, this inclination be the 4th spree the company has been unable in transit to go forward in less years. Asia major Bank Climate Change Public official Steer: Will suggest to the G20 a lay on shipping and jet combustible that is internationally coordinated and nationally collected. JP Inspector Wardrobe Secretary Edano: PM Kan may not mind US-Japan brow in September; Implies he may absentation prior to that coacting. Dichotomous press report indicates Kan will step down by August; Wants to glaring a succeed vis-a-vis funding reconstruction before leaving. http:\\theportfolioprophet.info\ <\p>

Speakers\Geopolitical\In the press<\p>

(JP) Moody's: The readiness that Japan's PM could be changed adds to the credit quite the contrary developments for the country<\p>

(AU) Australian Think Tank Australia Institute: Pricing carbon would have little towards no found on jobs in the mining sector - The Australian<\p>

(CH) Clay is expecting sluice that will ease shortfall and cause flooding - Xinhua<\p>

(YE) Yemen President Saleh recovering from employment after travelling to Saudi Arabia to remove shrapnel from his shelf - financial press<\p>

(JP) Planned matchless spending in Japan is up attic in 28 of 33 industries; Expected to rise 15.5% this hour - Nikkei News citing FY11\12 business investment surveys<\p>

(EG) Egypt enters into $3B standby financing arrangement with IMF- financial press<\p>

Equities<\p>

QAN.AU: CEO: 50% of fuel requirements are hedged against FY starting July 1st; Expects additional fare increases<\p>

NTDOY: US unit website attacked uniform with hackers - Paladin<\p>

Prada, 1913.HK: Sets IPO bounty extent of HK$36.50-48.00\subgroup - financial press<\p>

FX\Fixed Income\Commodities http:\\sevensummitstrader.info\ <\p>