“Every tomorrow has been uncertain. America’s destiny, however, has always been clear: ever-increasing abundance.” – Warren Buffett

1. Greece to get new aid — European officials are set to approve a long-delayed €2.8B tranche of bailout money for Greece after the country’s parliament passed a reform late last week which calls for the dismissal of 15,000 workers by the end of 2014 and the extension of a property tax assessed through citizens’ electric bills. The next obstacle for Greece is winning approval for a €6B disbursement it needs by May 20 in order to repay a maturing bond held by the ECB.
2. Treasury to Pay Down Debt For First Time in Six Years — WSJ, the U.S. government will retire $35B in bonds, notes, and bills during the second quarter, as spending cuts and higher tax receipts allow the Treasury to defy projections which showed net debt outstanding rising by over $100B during the three month period.
3. Apple’s debt offering is largest in history — WSJ, Apple’s (AAPL) first debt offering in nearly two decades was also the largest corporate bond deal in the history of the market. Goldman Sachs (GS) Deutsche Bank AG (DBK) sold the debt for Apple to investors in all corners of the credit markets, from buyers overseas to municipal-bond investors to portfolio managers who typically prefer ultrasafe government debt. Pension funds, insurance companies and hedge funds also joined in the scramble.
4. China PMI slips. China’s official PMI for April slipped to 50.6 from 50.9 in March — analysts polled by Reuters expected a reading of 51.0. Both reports cited weakness in new export orders, a reflection of tepid global demand.
5. ECB cuts interest rate — the ECB’s governing council said it decided to lower its main refinancing rate by 25 basis points to 0.50%. The ECB also said the interest rate on the marginal lending facility will be cut by 50 basis points to 1.00%.

The week ahead — Economic data from Econoday.com: