Repot 09/07

-  China equities push higher with Shanghao Comp up 5.26%, having opened down 4%
-  Not quite sure if this move is led by intervention, but I suspect it is
-  Shanghai Comp gad opened 4% lower
-  Nikkei lower though by 0.4% to 19,652
-  Hang Seng rises 4% to 24,498
-  Trading on NYSE was suspended yesterday due to a computer glitch
-  Feds minutes show members are concerned about greece/EU issues
-  Worry about disruption spilling over into global financial markets
-  Minutes also mention worries over China
-  But message is that conditions seem consistent with start of normalization
-  But Feds Williams remains hawkish, still sees two rate rises this year
-  Greece to propose detailed reform plans today
-  Yesterday Greece requested 3 year bailout program
-  Some suggestion the request was softer on debt restructuring
-  But Tsipras remains defiant after EU parliament
-  Greek banks to remain closed until next week
-  EUR holding up well, EURUSD 1.1100, EURJPY 134.90
-  AUD pushes higher on slightly better employment data
-  AUDUSD now 0.7485, AUDJPY up to 91.00

— 10.45 Feds Kocherlakota speaks
-  12.00 UK BoE MPC rate announcement
-  13.30 US initial jobless claims
-  13.30 CAD house price index
-  15.15 Feds Brainard speaks
-  18.00 Feds George speaks