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Friday, May 24

24th May - US Open

Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: Bizarro Time As Better Data Sends Stocks Lower – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Daily press summary – Open Europe
  Grillo: Italy should have a referendum next year on euro and EU membership

Morning MoneyBeat – WSJ
Markets Trying to Stabilize Despite Official Rattle – Marc to Market
Morning Briefing (EU/US): Forever Blowing Bubbles – BNY Mellon
  Yesterday's price action answered a number of questions we posed just two weeks ago.

The Commission utterly fails to address flaws in the financial transaction taxOpen Europe
"If you had kept quiet, you would have remained a philosopher" -

German Ifo Sentiment Rises for First Time Since FebruaryBB
Ifo improvement leaves big picture unchangedTradingFloor
The slight increase seen in German May IFO sentiment is obviously a positive, but taking a longer view it should be noted that only expectations have notably improved.

The deeper agenda behind 'Abenomics'Reuters
Prime Minister Shinzo Abe is riding a wave of popularity, spurred by voters' hopes that his prescription for fixing Japan's economy will end two decades of stagnation. But interviews with some two dozen allies and insiders show "Abenomics" was a late addition to his platform.  Full Article

Factbox: Key facts about Japan's constitution, proposed changesReuters
Japanese Prime Minister Shinzo Abe is making amending the pacifist, U.S.-drafted constitution one focus of his ruling party's campaign for July's upper house election. He hopes pro-revision parties will obtain the two-thirds majority that would pave the way for the first-ever revision to the 1947 charter.

Market turbulence poses first serious test for AbenomicsReuters
This week's turbulence in Tokyo markets exposes a key risk of Prime Minister Shinzo Abe's all-in strategy to revive Japan's economy - if investor confidence falters, the government and the Bank of Japan may be left with few options to turn the tide.

Kuroda hasn’t got the hang of the Jedi thing yetalphaville / FT

Weekly Credit UpdateDanske Bank (pdf)