Constructed by years of fiscal white lies and monetary insanity, the body bags have yet to be filled. Municipal governments in China still depend on increasing real estate values, while European banks holding large debts of failing Southeastern states still stand. The United States Economy has “recovered faster than anyone could have imagined” and the S&P 500 at one time had nearly doubled from it’s lows. But still the whispers; 10 year U.S. Treasuries nearing 3% yields, LIBOR trending higher, market technicals showing a shift towards negative confidence, and this weeks economic data hanging in the balance…

June 17, 2010 – Stock markets around the world have found solace in the leaked, then officially released, China Export data; showing a 48.5% increase in exports in May from comparable data in 2009. Conveniently timed with the past week’s global equity rally that followed the China Export numbers, were several announcements from South Korean financial leaders. First, Korea announced new measures to tighten restrictions on Currency Futures trading, and then proposed an indefinite re-opening of the currency swap lines between the Bank of Korea and The U.S. Fed, which were closed in February 2010…