Whither Europe: The U.K. will inject $155 billion into the nation’s banking system in a move to head off ill effects of Greek elections on Sunday. That news comes after an unnamed G-20 official told Reuters yesterday that the world’s central bankers are ready to provide liquidity if the elections upset markets.
Niall Ferguson compared the game of chicken playing out between Athens and Greece to the Cuban Missile Crisis.
If the story of Spanish banks sounds familiar, perhaps you remember Ireland?
Moody’s downgraded five Dutch banks.
Blame game: Facebook is preparing to file a motion in U.S. District Court that would consolidate all lawsuits arising from the company’s disappointing initial public offering, The New York Times reports. The motion, which could be filed as soon as today, is expected to lay some blame on Nasdaq for the lost shareholder value in the days after the IPO.
Quants gain: May was a good month for black-box hedge funds, Reuters reports. The BarclayHedge index of commodity trading advisers, or CTAs, as the funds are sometimes called, gained 2.6 percent last month. The BarclayHedge hedge fund index fell 2.8 percent.
Bank bears: Investors increased their bets that bank stocks would fall by 9 percent in the second half of may against the previous two weeks, the largest increase over a two-week period since 2009. Short interest in Bank of America and Citigroup jumped 75 percent and 61 percent respectively, according to The Wall Street Journal.
Repaid: The Federal Reserve Bank of New York said it has been paid in full—$53.12 billion for loans plus interest—the funds used to support government bailouts of AIG and Bear Stearns.
Dalio’s world: Want to know your favorite trader’s batting average on tech stocks? Baseball cards are in at Bridgewater Associates.
Bank sues Schilling: Citizens Bank is suing to recover $2.4 million in loans made to former Red Sox star Curt Schilling, whose video game company 38 Studios filed Chapter 7 this week.