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EUROPE
EUROPEAN CENTRAL BANK
Vítor Constâncio:
Reinforcing financial stability in the euro area – ECB
ECB’s
Constancio: Program of Quantitative Easing is Working – WSJ
Mario
Draghi Pens Pieces to Parliamentarians – WSJ
UK ELECTIONS
UK General Election – FT
UK: Conservatives win the election -
stable political outlook – Danske
Bank
U.K. Election Results — Live Analysis
and Reaction – WSJ
Lars Seier
Christensen: Cameron must hold the EU to account – TF
Cameron on
course to stay 5 more years – Nordea
Cameron’s
challenges: The road to EU reform and referendum – Open
Europe
Warning! Brexit
Referendum Ahead – Alpha
Now
Cameron
Victorious as Conservatives Win Majority – BB
UNITED STATES
APRIL EMPLOYMENT REPORT
Employment
Situation Summary – BLS
Payrolls
Miss At 223K, March Revised Lower, Wage Growth Disappoints Again – ZH
Stocks
& Bond Soar After Disappointing Jobs Data – ZH
Americans
Not In The Labor Force Rise To Record 93,194,000 – ZH
Part-Time
Jobs Soar By 437,000; Full-Time Jobs Tumble – ZH
Old Workers
Hit New All Time High As All April Jobs Go To The "55 And Older" – ZH
The Reason
Why There Is No Wage Growth For 83% Of US Workers – ZH
223,000
Jobs, 5.4% Unemployment Rate – Bill
McBride
Employment
Report Comments and Graphs – Bill
McBride
US employers shake off winter effects
– ABN
AMRO
US Job Growth Recovers – Marc
Chandler
US payrolls leave door open for Fed
hike in September – Danske
Bank
April Jobs
Report: Everything You Need to Know – WSJ
The April Jobs
Report in 13 Charts – WSJ
Revisions,
Energy Extraction, Manufacturing – Econbrowser
Just don't
bet on a pay raise – The
Economist
An
incorrect dial? – The
Economist
April Jobs
Report – The Numbers – WSJ
Economists React
to the April Jobs Report: ‘Reassuring’ – WSJ
Job Numbers
Restore Confidence, But Don’t Give Fed Reason to Hurry – WSJ
U.S. Economy May Reach Job Market
Nirvana in Next Six Months – WSJ
U.S. job growth recovers, keeps 2015 Fed
rate rise in play – Reuters
REGULARS
Daily
Central Banks – WSJ
Hannon’s
Take: Time for the Red Queen to Stop? * An Important Jobs Report for Fed
Officials Eyeing Rate Increases * Yellen Meetings with Lawmakers Jumped in
March, Following February Grillings * ECB’s Liikanen: Bond-Buying Program Has
Stimulated Inflation Expectations
Daily
Macro – WSJ
An
unexpectedly strong electoral victory for the Conservative party in the U.K. removed the risk of a hung
parliament, leading investors to buy up U.K. and European stocks Friday. But the
broader picture of the global economy wasn’t served well by other news:
weaker-than-expected industrial production in Germany, an unexpected drop in Chinese
exports and a downgrading in official growth forecasts for Australia.
Danske
Daily – Danske
Bank
Global
Daily – Oil lifts inflation expectations – ABN
AMRO
Inflation
expectations have played a role in the recent dramatic market moves…however we
expect oil prices to soften in the near term dampening inflation expectations *
Widening yield spread have supported EUR/USD for now
3
Numbers: European bond panic, Eurozone industrial data, US jobs – TF
The
European bond markets should be followed carefully after Thursday's crazy
swings. The US April payrolls will tell us whether the first quarter's weakness
was just a seasonal fluke, or a sign of moderating growth. The rest of today's
data is relatively unimportant, but Germany's industrial production and trade
balance at 06:00 GMT could provide us today's inflection point before the US
job report.
Euro
rates update – Nordea
Eye-Opener – Nordea
Cameron
wins * Huge movements in core rates April payrolls to surprise on the upside?
Will NFP prove to be the turning point for EUR/USD?
Morning
Markets: Cameron's spectacular triumph– TF
David
Cameron's spectacular victory in yesterday's UK election may not be confirmed
yet, but it looks like all those expectations of a hung parliament are likely
to bite the dust. It's been a bloodbath for Labour and the Lib-Dems and respective
leaders Ed Milliband and Nick Clegg can expect to walk the plank. And Scottish
nationalism is flying.
Daily FX
Comment – Marc
Chandler
Tories'
Victory Stuns Polls, but Jobs Data to Determine Dollar's Fate
Daily
Shot: Rising from the ruble – TF
The latest
indicators point to economic stabilisation in Russia. Yesterday we saw
inflation starting to subside. Now service sector PMI is bouncing from the
lows, and with the ruble and government bonds recovering somewhat, capital is
flowing back into the country.
US Open – ZH
Futures
Rise Following "Dramatic" UK Election Result, All Eyes On Payrolls
FX
Update: Strong US jobs could reverse Sterling shock – TF
The
Conservatives stand to gain an absolute majority in the UK parliament after
yesterday’s election, an outcome few predicted, though the shock to Sterling
may prove short-lived. Meanwhile, we have an absolutely critical US employment
report up later that the market is hoping will provide more clarity on the USD
outlook.
From the
Floor: Sterling's victory parade – TF
British
prime minister David Cameron's crushing defeat of Labour and his erstwhile
Liberal Democrat allies fueled strong early gains for GBPUSD. And as the City
cheered, the FTSE opened sharply higher and the feel-good factor is expected to
spread to other markets. Next hot thing on the agenda is nonfarm payrolls, but
that's a definite two-way risk for the dollar.
Martin Sandbu’s Free Lunch – FT
Problems
with finance: Too many to count, but not too many to fix
FINNISH
Aamukatsaus – Nordea
Korkojen nousupiikki taittuu vielä laskuksi | Konservatiivit
nousemassa suurimmaksi puolueeksi Britanniassa | Kiinan ulkomaankauppaluvut
pettymys
Pasi Sorjonen: Suomi: Tilaukset pelastivat perjantain
– Nordea
Tänään julkaistut tiedot tavaraviennistä ja
teollisuustuotannosta kertovat, että Suomen talouden alamäki jatkui suurella
todennäköisyydellä Q1:llä. Lupauksia herättävää on kuitenkin se, että
teollisuuden uudet tilaukset kasvoivat suurilla toimialoilla ja maaliskuu oli
yksi parhaista tilauskuukausista yli kolmeen vuoteen.
DATA
Teollisuustuotanto maalisk. -4,5% vuoden takaisesta – Tilastokeskus
Teollisuuden uudet tilaukset maalisk. +13% vuodentakaisesta
– Tilastokeskus
Vuokrat nousivat 3,3 prosenttia vuodessa – Tilastokeskus