“Last month the amounts being moved by individual depositors were noticeably smaller, between €200,000 and €100,000. We’re getting to the bottom of the barrel,” [said an Athens-based banking analyst], estimating Greeks had stashed about €5bn under mattresses and floorboards since January.By the time they impose capital controls, all of the money will be gone.
except with permission
Thursday:
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 276 thousand from 275 thousand.
• Also at 8:30 AM, Retail sales for May will be released. The consensus is for retail sales to increase 1.3% in May, and to increase 0.8% ex-autos.
• At 10:00 AM, Manufacturing and Trade: Inventories and Sales (business inventories) report for April. The consensus is for a 0.2% increase in inventories.
• At 12:00 PM, Q1 Flow of Funds Accounts of the United States from the Federal Reserve.
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