“I skate to where the puck is going to be, not where it has been.” – Wayne Gretzky

1. Australia Cuts Rates to Record Low — the Reserve Bank of Australia has jumped on the easing bandwagon, becoming the latest global central bank to cut interest rates in response to slowing inflation and concerns over economic growth. The RBA lowered its benchmark rate by 25 bps – its first change since August 2013 – to a new record low of 2.25%.
2. ECB Says No to Greek Debt — the ECB put more pressure on the country by revoking a waiver that allowed banks to use Greek government debt as collateral for loans. Greek lenders will have to seek funding from their own central bank on less generous terms.
3. China Cuts Bank Reserves — the central bank cut the amount banks must hold in reserves, the first step in more than 2 years, as concerns mount over an economic slowdown. China’s economy slowed to 7.4% in 2014, its lowest annual growth rate in a quarter century.
4. RadioShack filed Chapter 11 Bankruptcy — RadioShack has filed for Chapter 11 bankruptcy in Delaware, saying it has $1.2B in assets and $1.39B in debts. The plan reportedly includes an asset-buy deal with Standard General (its largest shareholder) and Sprint (NYSE:S) for a “store-in-store” model that would allow the RadioShack (NYSE:RSH) name to exist in some of the acquired shops.
5. S&P Cut Its Rating on Greece’s sovereign Debt — S&P has cut its sovereign debt to B- from B with a negative outlook, citing a “narrowed” time frame to reach a deal with its official creditors before running out of cash. Moody’s also put Greece on review for another downgrade.

The week ahead — Economic data from Econoday.com: