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EUROPE
Euro Area: 2014 Article IV Consultation – IMF
Here’s How Much Upside Is Left in European
Equities – WSJ
With euro-zone
sovereign debt yields becoming ever more compressed, perhaps it should come as
no surprise that investors are chasing European equities.
Speech by Mr Christian
Noyer, Governor of the Bank of France and Chairman of the Board of Directors of
the Bank for International Settlements, at the International Economic Forum of
the Americas, Conference of Montreal, Montreal, 9 June 2014.
Another BOE Rate Setter Mulls Timing of Rate
Hike – WSJ
UNITED STATES
FEDERAL
RESERVE
Five Takeways From Fed Decision, Yellen News
Conference – WSJ
Fed’s Yellen: Recent
U.S. Inflation Data on High Side, But Noisy – WSJ
Economists React to
Fed Statement: ‘Steady As She Goes’ – WSJ
Post-FOMC: What
Strategists Read in Yellen’s Words – WSJ
Yellen: Inflation Data
Are ‘Noisy’ – WSJ
Yellen: No Bubbles
Here – WSJ
Yellen: Investors
Shouldn’t Take Ultra-Low Rates For Granted – WSJ
Yellen: Fed Still
Working Out Mechanics of Raising Rates – WSJ
Fed statement balanced
- but rate projections are moving higher – Danske
Bank
What the Fed Did and
Did Not Do – Marc
to Market
Grading Yellen: She
Deserves a ‘Solid A’ – WSJ
What the FOMC Was
Thinking – The Big
Picture
Janet Yellen isn’t
giving up on the long-term unemployed – WaPo
Janet Yellen the Hawk –
Tim
Duy’s Fed Watch
Still a Dove – Tim Duy’s
Fed Watch
Yellen talks about low
risk premium, premium declines further – Sober
Look
Long Terms at Federal
Reserve Mean Current Committee Could Be Going Nowhere – WSJ
OTHER
EMEA Weekly – Danske
Bank
A Word about the Price Action in FX – Marc
to Market
Daily Central Banks – WSJ
Hilsenrath’s Take:
Yellen To Market: Don’t Be So Sure of Yourself * Fed Keeps Rates Unchanged,
Sees Eventual Rise in 2015, 2016 * BOE Appointee Says Markets Too Sanguine on
Risk * China Central Bank to Set Up New Policy Tool * It pays to run the Bank
of England
Daily Macro – WSJ
Wednesday’s Federal
Reserve decision was hardly earth-shattering, but in the absence of much else
to focus on, bond investors are parsing it to figure what shape the U.S. bond yield curve should take.
Periphery Business Cycle Monitor – Danske
Bank
Spain, Ireland, Portugal and Greece have potential for more surprises as the hard
negative shock has resulted in very high pent-up demand. We expect private consumption
to improve further as indicated by the increases in consumer confidence.
If everyone is a mini-LTCM that’s fine, right? – FT
A collective bet that
is short volatility and long liquidity…volatility inducing news doesn’t have to
be bad, just unexpected. If everyone foresees stagnation, the effect of a much
stronger than expected piece of European economic data would be interesting.
FINNISH
Suhdannekatsaus
1/2014 – Valtiovarainministeriö
Kuluvana vuonna talous kasvaa vain 0,2 % ja
vuonna 2015 päästään maltilliseen 1,4 prosentin kasvuun. Ennustejakson
viimeisenä vuotena 2016 BKT:n kasvuksi muodostuu 1,6 %. Vuonna 2015 kaikki
kysyntäerät julkisia investointeja lukuun ottamatta vaikuttavat talouskasvuun
positiivisesti. Vienti lisääntyy 4,6 % kansainvälisen kaupan piristyessä.
Kotitalouksien reaalitulojen kehitys jää kuitenkin heikoksi ja yksityisen
kulutuksen kasvu jatkuu edelleen hyvin vaimeana.
VM:n
1/2014 katsaus: Elvyttävä julkinen taloudenpito jatkuu
– Piksu