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EUROPE
The European Parliament should return to a
‘dual mandate’ system which uses national politicians as representatives
instead of directly elected MEPs
– Europp
/ LSE
The ECB’s bank review: Kill the Zombies and
heal the wounded – Bruegel
Complacency could
still lead to another failed attempt to fix Europe’s banks, with severe consequences
European Commission endorses Telegraph view of
the euro – The
Telegraph
Ambrose
Evans-Pritchard: I never thought I would live to see a serving European
Commissioner suggest that it was "reckless" to launch the euro
without a lender-of-last resort or fiscal union to back it up.
Draghi Stock Rally Runs to Record
Price-Earnings Ratio – BB
Euro area deflation monitor – Danske
Bank
Euro area annual
inflation down to 0.5% - Eurostat
UNITED STATES
FOMC Preview: More Tapering – Calculated
Risk
FOMC Preview – Tim Duy’s
Fed Watch
2014 Article IV Consultation with the United
States of America
Concluding Statement of the IMF Mission – IMF
IMF Slashes US Growth Expectations; Pushes
Higher Minimum Wage, Removing Tax Loopholes & Fiscal Stimulus – ZH
NAHB: Builder
Confidence increased to 49 in June – Calculated
Risk
US housing market
improves in June – TradingFloor
NAHB Homebuilder
Sentiment Better Than Expected – Bespoke
Homebuilder Confidence
Beats; Remains Negative For 5th Month – ZH
Industrial Production
increased 0.6% in May – Calculated
Risk
Industrial Production
Beats But Autos Drop 3rd Month In A Row – ZH
ASIA
Japanese Yen About To Wake Up? – The Short Side of
Long
Yen has been basing
for awhile now and could be ready to rally * Close to record high levels of
short bets against Yen
OTHER
FX Update: It’s FOMC week. Does the Fed blink? – TradingFloor
Daily central banks – WSJ
Hilsenrath’s Take:
What is Going Down With Term Premiums? * Fed Debating How High to Raise Rates
in the Long Run * Carney’s Comments Spur Bets BOE Will Raise Rates by End of
2014 * Leaked Tapes Complicate Polish Central Bank Chief’s Position * Happy
81st Birthday, FOMC!
Daily macro – WSJ
If investors had
become “complacent” – in the words of a few Federal Reserve officials – earlier
this month, they now may have something quite serious to snap them out of their
nonchalance. The conflict in Iraq, which appears to be deepening by the day and
which on Monday prompted a selloff in Asian and European stocks and a gain in
the safe-haven yen, has all the ingredients to feed through into economic and
financial conditions.
Great Graphic: Federal Reserve and ECB Balance
Sheets – Marc
to Market
Divergence between the
Federal Reserve and ECB balance sheets may be a few months away from peaking. While
the euro has trended higher since July 2012, it is not obvious that it was
driven by the divergent balance sheets.
Yield Forecast Update – Danske
Bank
Full impact of ECB
easing not yet seen
Quiet, though Nervous Start to Week – Marc
to Market
IRAQ
The Investment Climate and Geopolitics – Marc
to Market
The Economics Of ISIS – Centives
FINNISH
Rumat
luvut vahvistuivat: Vienti Venäjälle romahti – TalSa
Ulkomaalaisten
toimeentulotukea kiristetään pääkaupunkiseudulla – Länsiväylä
Lausunto
valtiovarainvaliokunnalle – Raha
ja Talous
Lauri Holappa ja Jussi Ahokas olivat
perjantaina 23.5.2014 kuultavina asiantuntijoina eduskunnan
valtiovarainvaliokunnassa. Kuulemisen aiheena oli valtioneuvoston selonteko
julkisen talouden suunnitelmasta vuosille 2015-2018