Market movers ahead
The market will be watching the emergency EU summit scheduled for Monday for a possible deal between Greece and its creditors to extend the Greek bailout.
In China, we expect the HSBC manufacturing PMI to have improved slightly again in June to 49.5 from 49.2 in May.
We forecast a decline for the euro-area manufacturing PMI to 51.8 in June from 52.2 in May.
With the 30 June deadline for a comprehensive deal the negotiations over Iran's nuclear programme are set to enter their final phase next week.
Global macro and market themes
It's crunch time - we still look for a deal between the EU and Greece.
We should see a decent rally in the stock market and tighter peripheral spreads following a deal.
US growth is rebounding - we still expect a September hike.
Euro-area data still mixed, but exports should take over the baton from consumers soon.
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