Roundups
News roundup – Between The
Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
Asia Morning MoneyBeat: New Money Runs Into Old
Problems – WSJ
MORNING BRIEFINGS
A triple round of
upbeat news is expected in today’s updates on the UK Markit/CIPS Services PMI,
EU retail sales, and the US ADP employment report.
Market Preview: Heavy European and US economic
calendar ahead – TradingFloor
European markets are
expected to open lower Wednesday amid renewed concerns surrounding Portugal and Greece. Traders are likely to keep an eye on a raft
of economic data in Europe and the US due later today for further direction to
market sentiment.
Danske Daily –
Danske Bank (pdf)
Aamukatsaus – Nordea
Yllättääkö
Riksbank? * Positiiviset talousluvut tukevat dollaria
EUROPE
There's no suffering
too great if it's for the sake of the euro – and Ireland proves it – The
Telegraph
Portugal has a Troika review upcoming on July 15. The
opposition Socialists will be meeting with the president tomorrow afternoon. JP
Morgan points out that if the Portas’s rightist CDS-PP party would withdraw its
support the government would retain only 108 of the 230 seats in parliament.
This would require forming a new coalition or a call for new elections. The
risk of new elections in Portugal opens the door for anti-euro backlash.
The international role of the euro – ECB
(pdf)
Steen Jakobsen: this
week's big deal is the openness with which the Federal Reserve is preparing a
major margin call on the too-big-to-fail banks in the US. This has been a long time coming since the
introduction of the Dodd-Frank law back in 2010 but it is a game changer.
Remember ALL macro paradigm shifts come from policy impulses, often mistakes.
OTHER