*** The Big Picture: First, Blame the Lenders ***
*** The Big Picture: Not the Greeks, But Their Creditors Get Bailed Out ***
*** FT Alphaville: And so farewell, QE2 ***
*** FT Alphaville: Back inside the horrors of the Gaddafi fund ***
*** FT Alphaville: Does prejudice hinder economic growth? ***
*** Macro Man: YOU WHAT? ***
*** Calculated Risk: CoreLogic: May Home Price Index increased 0.8% ***

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Official (China Federation of Logistics & Purchasing and National Bureau of Statistics) China PMI fell form 52.0 to 50.9. Consensus was at 51.5.

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