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Saturday, June 3

3rd Jun - Weekly Support

Here are the links to the weekly roundups, reviews and also previews of the beginning week.

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Weekly ScoreboardBetween The Hedges

Weekly Market ReviewZH
Stocks Hit Record Highs; Shrug Off "Transitory" Covfefe In US Macro Data

U.S. Weekly Fund Flows ReportLipper Alpha Insight
Funds Grow Their Coffers by $13.1 Billion
Earnings Insight June-2Factset

EcoWeekBNP Paribas
The global increase in cyclical indicators has slowed recently, and sometimes even gone in reverse. Such a loss of momentum is unsurprising. * European Commission releases reflection paper on deepening EMU. The necessity of the task seems proportional to the challenge of achieving it.

Week AheadNordea
What a week ahead: UK election and the most interesting ECB meeting so far this year. Chinese FX reserves and Norwegian inflation are also due.

Weekly FocusDanske Bank
ECB meeting and UK elections on Thursday

Strategy: Low yield environment intactDanske Bank
The global economy is still in fairly good shape, although starting to lose some tailwind. It would be a mistake to think that political risks are now off the global financial agenda. The risks have now (once again) moved back to the US. We argue that we are still in a bond friendly environment: 1) the global economy is losing steam 2) the reflation theme has peaked as inflation has peaked 3) If the ECB changes course it would be seen as premature and inflation expectations would dive further – and the result would be a ‘bearish flattening’ of the yield curve

Global Week AheadScotiabank
Watch Draghi, then Comey, then vote

Weekly FX Sentiment ReportScotiabank

Weekly Market OutlookMoody’s

Macro WeeklyABN AMRO
Trump walks away from Paris Accord, but US business remains committed * Theresa May’s lead in the polls is shrinking * EN Marche! set to do well in upcoming elections * Inflation eases in Europe and the US * Confidence data mixed and levelling off, suggesting continued decent global growth

Speculative Positioning – Marc Chandler

FX Outlook – Marc Chandler

Macro Comment – Marc Chandler

Weekly SummaryUrban Carmel
All of the main US indices made new all-time highs this week. The indices appear to be supported by strong breadth, with 7 of the 10 SPX sectors also making new highs. This post reviews several studies that suggest price momentum is likely to carry the indices higher over the next several months and through year-end. That does not preclude an interim drawdown of at least 5% - we regard that as very likely, sooner rather than later - but any weakness has a strong probability of being only temporary.