Previously on
MoreLiver’s:
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EUROPE
Pound Tumbles, Volatility Jumps After Polls Show
Brexit Momentum – BB
ITV poll shows Brexit
ahead 45% to 41%; TNS has 43% to 41% * One-month volatility at seven-year high
before June 23 vote
The Land Below Zero: Where Negative Interest
Rates Are Normal – BB
Denmark has been an
upside-down world for longer than any other country. The sky hasn't fallen yet.
Germany, U.K. Reject
Softening EU Major Bank Failure Rules – BB
Migrant integration
statistics – employment – Eurostat
Where migrants integrate
in the EU: a chart – FT
What New Stats Say About
European Integration – WSJ
FAQ: ECB's Corporate Bond Buying Program Starts – Marc
Chandler
UNITED STATES
FEDERAL
RESERVE
Rosengren flags jobs
report, yet says Fed rate hikes coming – Reuters
Fed’s Rosengren Says
Important to See If Weak Jobs Were Anomaly – BB
Yellen: Current
Conditions and the Outlook for the U.S. Economy – FED
Live Analysis: Janet
Yellen Speaks – WSJ
Yellen Sees Rates Rising
Gradually Without Giving Precise Timing – BB
Yellen sees rate hikes,
mostly good economic picture – Reuters
OTHER
FX: summer hike... – Nordea
The Fed hike for June is
priced out, and a low probability for July hike left - too soon? EM data last
week, China data this week and Yellen's hopeful speak should take our minds
away from recession fears, leaving room for the "risky" to perform.
BIS Quarterly Review, June 2016 – BIS
BIS Statistical Bulletin, June 2016 – BIS
The slowdown in
international banking activity that began in early 2015 broadened in the final
quarter of the year.
REGULARS
Danske Daily – Danske
Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Dismal NFP, 10Y Bunds at 0.067%,
Yellen speech tonight * Even more focus on Yellen after weak US labour market
report * Bunds approach historic levels. 10Y at 6.7bp after dismal NFP numbers
* USD lost against major peers as probability of a June rate hike evaporated
Morning Markets – TF
Shares took a tumble in Tokyo today
with investors anxious about a slide on Wall Street and the strengthening yen.
Janet Yellen speaks later today and after that awful NFP on Friday she must
still be wiping the egg from her face.
Euro wrap-up – Daiwa
http://www.uk.daiwacm.com/research-zone/research-reports
Daily Market Comment –
Marc
Chandler
Shallow Bounce in Dollar, though
Sterling Pressured by Brexit Polls
Daily Market Comment –
Macro
Man
Thoughts on the aftermath
Daily Shot – TF
Friday's nonfarm
payrolls print shocked markets expecting an easy path towards Fed normalisation
but a look at the data shows that the problems run deep.
Daily Press Summary – Open
Europe
Numerous polls show
support for leaving the EU is growing * Vote Leave claim UK in line for £2.4bn
EU budget top-up and unlimited Eurozone bailouts * Financial Transaction Tax
proposal on its last legs * Five-Star Movement candidate wins first round of
Rome mayoral election * EU Commission mulling over €60bn investment fund to
tackle root causes of migration in neighbouring countries * CSU leader moves to
make up with Merkel following months of strife over refugee policy * Italian
Finance Minister: “If we don't accept risk-sharing why are we wasting our time
with the euro?” * Deutsche Börse CEO says LSE merger will be essential in the
event of Brexit * New poll: Eight out of ten Greeks see country going in wrong
direction
Brussels Playbook – Politico
Deadly train crash in
Belgium — Italy goes to the polls
US Open – ZH
Futures Flat Following Friday's Jobs
Fiasco: All Eyes On Yellen Again
Frontrunning – ZH
Most of the reaction to
Friday’s jobs report may be already in the market early this week. Tonight we
get a look at the RBA’s latest policy guidance and the RBNZ may cut rates on
Thursday keeping a ceiling on the kiwi.
The US' retreat from the
brink of policy normalisation following Friday's abysmal nonfarm payrolls
figure has send USD bulls running for cover while a renewal of Brexit fears
weighs on sterling.
FINNISH
Onko
Fedin kesänosto edelleen mahdollinen? * USA:n palvelusektorin luottamus oli
odotuksia heikompi * Ostopäällikköindeksit viittaavat Britannian talouskasvun
hidastumiseen * Suomessa vahva ensimmäinen neljännes
[aiemmin
julkaistusta laajempi versio] Iso-Britannia äänestää pian siitä, pitäisikö maan
lähteä Euroopan unionista. Muuallakin EU:ssa yhdentyminen on pysähtynyt ja
Eurooppa pikemminkin sirpaloituu. Mistä tämä johtuu, Englannin keskuspankin
entinen pääjohtaja lordi Mervyn King?
Yhdysvaltain
keskuspankkijärjestelmästä ja dollarin historiasta voisi ottaa oppia
euroalueelle.
Kilpailukykysopimus
tarkoittaa sisäistä devalvaatiota, jolla Suomi yrittää kiriä kiinni etenkin
Saksan hurjaa etumatkaa talouden kasvukisassa. Samalla Suomikin lisää
maailmatalouden jännitteitä ja tasapainovaikeuksia.
Helikopteriraha veisi
keskuspankit finanssipolitiikan tontille – Euro
ja Talous
Huippu-urheilun hyvät
veljet – näin paljastuvat vanhat tavat junailla urheilurahaa – YLE
Olympiakomitean
rahankäyttöä koskeva tarkastusraportti paljasti, että sille avustuksia
myöntävää ministeriötä on vedätetty. Vai onko? Kun kurkistaa ministeriön
kulisseihin, aukeaa toisenlainen näkymä.