10 Things You Need To Know Before The Opening Bell
* Asian markets were mixed in overnight trading, and European indices are all higher in early trading. U.S. market futures are suggesting a slightly higher open.
* The Chinese province of Hainan had its property prices fall a staggering 30% from April to May. This might be explained by new restrictions on the purchasing of second homes by the Chinese government. These charts will make you scared of Chinese real estate >
* The U.S. government has stepped up its use of sanctions against Iran by targeting companies linked to the Iranian regime. Those companies include shipping and banking firms, as well as other front companies that do business for or with the Iranian government.
* Agricultural Bank of China is set to launch an IPO with investment bank Standard Chartered and China Life Insurance Co. its main backers. The deal may be valued as high as $500 million for Standard Chartered.
* Today's Spanish bond auction was successful in that Spain was able to sell €3.479 billion of their securities at auction. The yields that Spain had to pay to investors, however, were at a record level for the country. Here are 9 reasons Spain is a dead economy walking >
* The spread between German and Spanish debt is now at an all time high in eurozone history. 10-year spreads now amount to 233 bps. Here's what you need to know about the state of Spanish banks >
* The Swiss parliament has agreed to hand over the records of 4,450 UBS clients to the U.S. government who claim they are tax evaders. The decision comes after the parliament decided not to take the vote to a national referendum.
* A UK tax on banker bonuses is having a direct impact on the bottom line of some of the U.S.' biggest banks. The total bill for U.S. banks with offices in London associated with the tax amounts to $2 billion.
* Bank of America is planning on ending free checking accounts in an effort to earn more fees to offset the costs of new regulation. Other banks are planning similar strategies.
* In a sign that all is not well in the U.S. banking industry, 90 banks missed a TARP payment they were scheduled to make on May 17. Many of the smaller banks are trying to change the terms of their repayment schedule. Check out how bad the housing market is in the U.S. >
