CMBS, CRE Losses "Worst Coming", Municipal Budget Shortfalls, Goldman S&P Earnings Revision [links]

WSJ: China's Property Market Freezes Up - Calculated Risk
For CMBS, 'Worst Is Yet to Come' [loss rates 57% in 2009, more to follow -Fitch] - WSJ
Record property value drops leave governments' budget holes even deeper - MiamiToday
CMBS Loss Severities to Rise, Fitch Says - Distressed Debt Report
Commercial Loan Exposure Pulls Down Banks, Weighs on CMBS - Housing Wire
Less Than Half of 2008-11 CRE Losses Written Off by US Banks - ResearchRecap
Moody’s Downgrades BP to Aa2; on Review for Further Downgrade - Bloomberg (h/t _phlox)
Data shows US economic growth continuing - BBC News
Governors and Budget Officers Warn of Continued Stress on States - Bond Buyer
Fitch Downgrades Connecticut's GO Bonds to 'AA'; Outlook to Stable - Bond Buyer
Soybean Futures Surge as Price Drop Discourages Farmer Sales - BW (h/t SoybeanWatch)
Goldman Sees S&P 1,160 in 3 months, 1250 year end, 2010-2011 EPS $78-$93 - Zero Hedge
Merrill Lynch -US Economic Weekly $SPY $GS - Hedge Analyst
How Pension Funds Exploit Credit Default Swaps - Institutional Investor (h/t @morgan_03)
Dollar Libor rises, ECB deposits at record high - Reuters
BofA Begins Principal Reduction on Delinquent, Underwater Mortgages - Housing Wire
Housing Double Dip a Done Deal - CNBC
Monster Employment Index Points to Further Jobs Gains - WSJ
Pending sales of previously owned homes rise 6% in April - LA Times
Iran to sell 45 billion euros, buy dollars, gold -Xinhua - Reuters
Fed should raise rates to 1 percent: Hoenig - Reuters (h/t @jackdamn)
Half a Dozen States Delay Tax Refunds - NY Times
China Property Risk Is Worse Than in US - Financial Times
AngloGold to Cut Australian Exploration on Profit Tax - Bloomberg
North Korean Border Guards Ordered To Don Steel Helmets - Business Insider
Projecting the CMBS delinquency trajectory - SNL - RealPoint (5/25)
Bats Gives Stock Traders More Ability to Mask Their Identities - BusinessWeek
Murdoch Trashes His Prime Brands With ‘Paywall’: Matthew Lynn- Bloomberg
Hewlett-Packard to cut 9K jobs in services unit (6/1) - AP
China may levy property tax (6/1) - Xinhuanet
If interested in mobile Wi-Fi using 3G or 4G check out this NY Times article

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