Follow ‘MoreLiver’ on Twitter
EUROPE
The time of Juncker’s troubles – Politico
Political missteps,
personal health issues, doubts about effectiveness and rising Euroskepticism
impair Commission chief’s self-declared mission to save the EU.
Euro Area: Article IV Statement – IMF
BREXIT
Brussels is in Brexit
denial – Politico
Editorial: ‘Leave’ would
diminish both Britain and Europe – The
Economist
Brexit’s First 100 Days
Promise Chaos, Fear, Damage Limitation – BB
Brexit despair – Simon
Wren-Lewis
Bank of England Review: Waiting
for the referendum – Danske
Bank
BoE review: BoE repeats
Brexit warning – Nordea
BOE Ups Ante on Brexit
With Warning of Global Economic Harm – BB
Clive Crook: How Europe
Pushed Britain Toward the Door – View
/ BB
Steen Jakobsen: How a
Brexit would play out – TF
Brexit: What Are the
Consequences? – WSJ
EUROPEAN
CENTRAL BANK
Impact of Non-performing
loans in Europe and the US – Deutsche
Bank
Economic Bulletin Issue
4, 2016 – ECB
The euro area fiscal
stance – ECB
Country-specific
recommendations for fiscal policies under the European Semester – ECB
UNITED STATES
FEDERAL
RESERVE
Fed confirms ‘wait and
see’-mode – Brexit a potential game changer – Danske
Bank
Fed lowers path for rate
hike normalization – ABN
AMRO
The Market Scoffs at Fed
Dot Plot – WSJ
Fed lowers rate
projections but markets still don’t buy it – TF
US FOMC Review – Daiwa
Fed still sees two rate
hikes in 2016 but lowers rate path longer out – Nordea
Janet Yellen’s battle
between fantasy and fact – WaPo
OTHER
BoJ: saving the bazooka – Nordea
The BoJ refrained from
easing monetary policy today, likely due to the uncertain outcome of the Brexit
vote next week. The lack of action has sent the equities down and the yen
stronger.
BOJ Keeps Policy Unchanged Even as Kuroda Warns
on Yen – BB
Kuroda holds off ahead
of Japan election, U.K. vote on Brexit * Majority of economists see central
bank moving at next meeting
Macro Thinking: FOMC, USD, and EU – Marc
Chandler
Yield Forecast Update – Danske
Bank
Brexit or not, global
yields are set to stay low for now
Monthly Commodity Update – ABN
AMRO
The sun keeps shining on
commodities
REGULARS
Danske Daily – Danske
Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Lowered Fed rate path, BoJ decides
to wait, still weak risk appetite * Important Brexit polls today * US
Treasuries rally in the aftermath of the Fed * JPY surges on BoJ inaction
Morning Markets – TF
Frantic investors are piling money
into safe-haven assets after Fed chair Janet Yellen's Brexit warning overnight.
With the BoJ also holding off once again from a currency intervention USDJPY
broke the 104.0 mark in the hour before the European open.
Euro wrap-up –
Daiwa
Daily Market Comment –
Marc
Chandler
Markets are Anxious, Yen Soars
Daily Market Comment –
Macro
Man
Rumbling and grumbling
Daily Shot – TF
Daily Press Summary – Open
Europe
Osborne and Carney come
under fire from Leave campaign * Theresa May calls for “further reform” of EU
free movement * Sarkozy: Brexit debate “should have been an opportunity to
speed up change in Europe” * Süddeutsche Zeitung: EU preparing for “wild”
Brexit * Gove defends claim his father’s business was destroyed by the EU after
Gove Senior says he sold it voluntarily * Politico investigation reveals
concerns about Juncker’s political isolation and state of health * Leave camp
faces legal action for claiming support from some of Britain’s biggest
businesses * French Finance Minister: UK-based financial firms would lose
‘passport’ to do business throughout EU after Brexit * FT backs continued EU
membership, Spectator comes out in favour of Brexit * Fed says risk of Brexit
one of the factors behind decision to hold interest rates
Brussels Playbook – Politico
Juncker in trouble —
Brexit — EEAS’ Le Roy resigns
US Open – ZH
Global Stocks Continue To Plunge As
Central Banks Disappoint, Brexit Looms
Frontrunning – ZH
USDJPY and several other
JPY crosses were slammed to new cycle lows losses as the Fed was able to clear
the market’s bar of dovish expectations with a hefty adjustment lower in the
forward rate guidance while the BoJ passed on further action.
Thursday finds global
Financial markets battling turbulent waters after a dovish Federal Reserve
statement last night sent the dollar sharply lower against the yen which itself
is benefitting from the Brexit-inspired risk-off sentiment and the Bank of
Japan's decision overnight to hold monetary policy unchanged.
FINNISH
Epävarmuus
EU-jäsenyydestä nakertaa Britannian kasvua * Fed piti korkotason ennallaan ja
lausuntonsa kyyhkymäisenä * Ruotsin asuntojen hinnat laskivat toukokuussa * Englannin
ja Sveitsin keskuspankeilta ei tänään muutoksia rahapolitiikkaan
Aki Kangasharju: Brexit pelottaa – mutta ei toteudu – Nordea
EU:sta
eroa hakevat ovat siirtyneet johtoon Britannian mielipidetiedusteluissa. Brexit
ei kuitenkaan toteudu – ainakaan, jos skottien kokemuksilla tai epävarmojen
käyttäytymisellä on ennustevoimaa.