Tuesday Bullets:

· Headlines: “CHINA FX OFFICIAL WARNS OF RISKS IN “EXCESSIVE” HOLDINGS OF US DOLLAR ASSETS” and “CHINA FX OFFICIAL SAYS US DOLLAR WILL CONTINUE TO WEAKEN AGAINST OTHER MAJOR CURRENCIES.”

· On Greek debt, ECB’s Trichet states that while he’s against imposing losses on creditors, he indicated he’d approve of financial institutions maintaining their level of outstanding credit. “That is not a default,” he said at an event in Montreal late yesterday. “That is something the ECB would consider appropriate.”

· April German manufacturing orders better than expected at +2.8% vse +2.0%.

· April Euroland retail sales better … …READ MORE