SIFMA: US Repo Fact Sheet 2012
An annual update and overview to the U.S. repo market.
http://jlne.ws/MQxSdn

BLS: Jobless rate up in 27 states, down in 11 in June; payroll jobs up in 29 states, down in 21
Regional and state unemployment rates were little changed in June. Twenty-seven states recorded unemployment rate increases, 11 states and the District of Columbia posted rate decreases, and 12 states had no change, the U.S. Bureau of Labor Statistics reported today.
http://go.usa.gov/vff  

J.P. Morgan Revamps Business Units
WSJ.com
J.P. Morgan Chase & Co. is consolidating bank divisions and moving around top executives in leadership changes partly related to succession planning, moves that come amid new doubts about the wisdom of large banks that house both investment and commercial banking operations.
http://jlne.ws/OiQsw8

Europe’s Leaders Move to Show Resolve
WSJ.com
Top European policy makers moved Friday to demonstrate that they too were prepared for bold action to help Spain and Italy, a day after the European Central Bank’s president, Mario Draghi, hinted that the bank might use the power of its printing press to buy the beleaguered nations’ bonds.
http://jlne.ws/N259z0

Draghi Roars, but What Will He Do?
Mario Draghi, president of the European Central Bank, boosted markets Thursday with his emphatic “whatever it takes within our mandate” to save the euro declaration. But what action, if any, is likely to follow?
http://jlne.ws/PGiQam

First year of U.S. economic recovery was weaker than estimated
Futures Magazine/ Bloomberg
The first year of the recovery from the worst U.S. recession in the post-World War II era was even weaker than previously estimated, evidence of the extent of the damage wreaked by the economic slump, revised figures show.
http://jlne.ws/OrCuq7

World Federation of Exchanges: “MEASURING THE NEW NORMAL”
The term ‘the new normal’ comes to mind when sifting through the statistics from the first half of 2012. The expression ‘the new normal” dates back to the end of the last decade, and is said to be coined by Mohamed El-Erian, chief executive officer of Pacific Investment Management Co., PIMCO and popularized in the frequent publications of his colleague, co-chief investment officer and founder of money management firm, Bill Gross.
http://jlne.ws/PGeFLC

Housing Isn’t a Horror Show Anymore
WSJ.com
Housing is finally contributing to economic growth in a sustained way.
http://jlne.ws/OqR7Kn

Barclays Employees Watch Film on How NOT to Rig Libor
CNBC
Barclays wants all its employees to learn that they never, ever should try to rig Libor again. To that end, the top executive at Barclays’ investment bank is appearing in a film about the lessons the bank has supposedly learned from the Libor scandal.
http://jlne.ws/OqPCM4

Fisher: Negative Rates, Rush for Cash ‘Destabilizing’
CNBC
Europe’s debt turmoil and a decelerating US economy are creating a world where investors are effectively paying governments to hold cash, Peter Fisher, head of fixed income portfolio management at BlackRock, told CNBC on Friday
http://jlne.ws/PGaS0N

Weill changes his banking tune
http://jlne.ws/OrT6fA

Draghi Roars, but What Will He Do?
WSJ.com
Mario Draghi, president of the European Central Bank, boosted markets Thursday with his emphatic “whatever it takes within our mandate” to save the euro declaration. But what action, if any, is likely to follow? David Mackie, an economist in London for J.P. Morgan Chase this morning offered this list, in descending order of probability:
http://jlne.ws/O27pK6

British bank Lloyds gets Libor subpoenas
Reuters
Britain’s Lloyds Banking Group has received subpoenas from government agencies investigating a global interest rate rigging scandal that has rocked the banking industry and has not set any money aside to cover a potential fine, it said on Thursday.
http://jlne.ws/LV2Mgg