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EUROPE
Why we
should not blame the ECB for low returns on German savings – Bruegel
The fall in
inflation and in real returns is behind the dramatic decline in interest rates
over the past 3 decades
UK ELECTIONS
UK exit polls point to Conservative
lead – FT
BOND MARKETS
The
European Market Shake-Out in 5 Charts – WSJ
11 reasons
why the Bund turned nasty – CNBC
Who Woke
the Bond Bears? – WSJ
Investors
stung by eurozone bond volatility – FT
GREECE
The IMF,
Greece and economic reality – Simon
Wren-Lewis
Greek debt
talks near ‘drop dead’ moment – FT
Greece defies euro zone on pension, labor
reform – Reuters
UNITED STATES
5 Things
to Watch in the April Jobs Report – WSJ
ASIA
Japan Overshadowed, but Important
Developments – Marc
Chandler
REGULARS
Daily
Central Banks – WSJ
Hilsenrath’s
Take: This Is Not An Irrational Exuberance Moment * Fed’s Yellen: Stock
Valuations ‘Generally Are Quite High * Lockhart: Rate Rise on Track, Data
Permitting * Australian Rate Cut Falls Flat * Norway’s Central Bank Holds Rates
Daily
Macro – WSJ
Bonds
continue to sell off. The big question is why? If it’s because investors expect
the European Central Bank’s liquidity policy to at long last lift the eurozone
out of its doldrums, that’s a good thing. If it’s because oil prices have
started to rise because of tightening supply, thus pushing up inflation, that’s
not so great. Meanwhile, there’s a chance investors could be starting to demand
higher risk premiums for holding debt after yields had been crushed to
virtually nothing. Whatever the cause, the impact has filtered through to the
equity market too.
Danske
Daily – Danske
Bank
Euro
rates update – Nordea
Eye-Opener – Nordea
And the UK
election winner is… * US ADP does not bode well for Friday’s labour market
report * Bond sell-off continues * Will NOK emulate AUD?
Daily FX
Comment – Marc
to Market
European
Bond Sell-Off Continues, Squeezes Euro Higher and Weighs on Stocks
Daily
Shot – TF
Evidence of
economic recovery in the Eurozone continues to dribble in but the return to
health is patchy: Greece remains in a woeful position while services sector
growth in Germany is something new to worry about.
US Open – ZH
Global Bond
Rout Sends Futures Tumbling, Bund Has Sharpest Weekly Selloff In History
From the
Floor – TF
The Aussie
dollar fell briefly after weak employment data, but then rose to US79.58¢ from
around US79.45¢, ending the session around US80¢. AUD also has potential to
make gains on the euro.
Martin
Sandbu’s Free Lunch
– FT
Inequality
and mobility are back with a vengeance
FINNISH
Aamukatsaus – Nordea
Suomen superperjantai | Norja: Pehmeä talousdata pehmittää
keskuspankin | Korkojen jyrkkä nousu jatkui
Mistä kasvua? – Sakari
Heikkinen
Sirpa Abdallah: Perussuomalaisten osallistumisen vaikeus?
– US
HALLITUSPELI
Tommi Parkkonen: Neljän vuoden sota? – IL
Juha Keskinen: Juha Sipilä kompastui ensimmäiseen kuoppaan –
IL
Sopimusluonnos paljastaa: Näihin asioihin yhteiskuntasopimus
kaatui – IL
Suurten puolueiden ryhmäjohtajat vakuuttavat: Hallituspohja
ei vielä tiedossa – YLE
Juha Sipilän ensimmäinen kupru – Jyrki
Virolainen
MTV paljastaa: Tällainen on kaatunut yhteiskuntasopimus – MTV
Kes, PS ja Kok hallitusneuvotteluihin – SDP
oppositioon – YLE
Menikö päivän suurin uutinen ohi? Tässä yhteenveto – YLE
Hallitusneuvotteluihin keskusta, perussuomalaiset ja
kokoomus – Verkkouutiset
Pekka Ervasti: Hui, herra pääministeri! – YLE
Pekka Ervasti: Sipilän ässäsuora – YLE
Perussuomalaiset hallitusneuvotteluihin – Suomen
Uutiset
Saate hallitusneuvottelijoille – Professorin
ajatuksia
Hallituspohja selvisi – Jyrki
Virolainen