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Monday, May 21

21st May - EU Open: Morning Briefings

Just the morning briefings – I will soon post an article update and the usual US Open and US Close posts regularly. 

Previously posted:

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News roundup – Between The Hedges
News roundup – The Trader
Emerging London Headlines – beyondbrics / FT
The 6am Cut London – alphaville / FT
Press digests by Reuters: FT, WSJ, NYT

Debt crisis: live – The Telegraph
The Euro Crisis Blog – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices

Danske DailyDanske Bank (pdf)
G-8 summit embraces further emphasis on measures to support growth but fails to produce concrete results. Risk appetite continued to retreat on Friday, as US stocks posted their third weekly loss in a row. Sentiment remains fragile as focus turns to the EU summit on Wednesday. Market stress is likely to remain elevated ahead of the 17 June elections in Greece.

Morning Briefing BNYMellon
On many an occasion, we have highlighted a disconnect between the EUR’s performance and its underlying fundamentals that has arisen largely as a result of the reserve diversification activities of USD-hoarding central banks across the world. Put another way, the EUR’s performance against the USD over the years has to a large degree reflected the perceived strength of the Chinese economy; and it is with ongoing events in China and the Euro-area in mind, that we anticipate only scant respite for the single currency, with today’s rebound no doubt being eyed by some as an increasingly attractive selling opportunity.

Market Preview: G8 fails to instill confidence SaxoBank
European markets are expected to open weaker Monday amid concerns about contagion from Greek political turmoil. Affirmation from G8 members has failed to instill confidence amongst investors. Market awaits the Eurozone construction output data today.