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Spain: Concluding Statement of the 2015 Article IV Mission – IMF
ECB’s Mersch Downplays Danger From European Government Bond Yields’ Rise – WSJ
Higher European Bond Yields No Longer Spell Disaster – BB
They're being lauded as a sign of a healing economy
The IMF crisis and how to solve it – Oxford Economics
An investigation of the IMF’s Greek programme, one of the most credibility-sapping in its history
IMF has betrayed its mission in Greece, captive to EMU creditors – The Telegraph
The IMF’s Original Sin in Greece was to let Dominique Strauss-Kahn hijack the institution to save Europe's banks and the euro when the crisis erupted, dooming Greece to disaster.
Germany's bickering Eurosceptics squander chance to cash in on Greek crisis – Reuters
As Greece stumbles towards bankruptcy, a Eurosceptic party bent on breaking up the euro zone should be enjoying its golden hour; but instead the Alternative for Germany (AfD) is mired in such bitter personal feuding it teeters on the verge of collapse itself.
Germany, France Call for Fiscal and Political Union – Wolf Street
Industrial Output Rose in April as German Economy Gathered Pace – BB
Greece: where do we stand and what to watch – Bruegel
Grexit Ante Portas? – Greece Is Not An Island – Alpha Now
Greece: The Timeline of a Debt Crisis – WSJ
Cautionary tales for the gold standard crowd – Cam Hui
Wolfgang Münchau: Two dismal economic plans for Greece – FT
Mohamed El-Erian: Subplots Cloud Greek Drama – BB
Greece willing to compromise with EU/IMF: government – Reuters
Paul Mason: Greece is not Ireland – and it’s not just about the economics – BBC
First Fed Rate Hike Timing Expectations Plunge To Lowest In 5 Years – ZH
Economists React to the May Jobs Report: ‘Unambiguously Positive’ – WSJ
The May Jobs Report in 12 Charts – WSJ
Hilsenrath: Report Likely Keeps Fed on Track for Rate Increase Later This Year – WSJ
Solid Employment Report – Tim Duy
Relax, the jobs recovery is back on track – WaPo
Meet the Wallenbergs – FT
The leaders of Sweden’s legendary business family, Jacob, Peter and Marcus oversee an empire worth €250bn
Mohamed El-Erian: Tug-of-war ahead as central banks seek control – FT
Starting point of ridiculously low yields has fuelled volatility
Dollar Drivers – Marc Chandler
What the non-lunatic right believes about macroeconomic policy – Worthwhile
Central banking: just when you understand it, it changes – FT
Ben Bernanke: Monetary policy and inequality – Brookings
Amartya Sen: The economic consequences of austerity – New Statesman
The judgements of our financial and political leaders are breathtakingly narrow. Nobel Prize-winning economist Amartya Sen considers the alternatives.
Austerity as a Knowledge Transmission Mechanism failure – Simon Wren-Lewis
When Should Public Debt Be Reduced? – IMF
We argue that, for countries with ample fiscal space (little risk of encountering a fiscal crisis), raising distortive taxes merely to bring the debt down is a treatment cure that is worse than the disease.
Britain can afford to live with high debt 'forever', says IMF – The Telegraph
Living with high debt may be the "optimal policy" for countries such as the UK, Germany and the US, according to IMF economists
Daily Central Banks – WSJ
Hilsenrath’s Take: More Evidence of the Weight of China on Global Inflation *May Jobs Report Likely Keeps Fed on Track * Yellen: Fed Was Advised Not to Fully Comply On House Leak Probe * Turkey’s Central Bank Moves to Support Lira * Iceland to Speak on Winding Down Capital Controls
Daily Macro – WSJ
Japan posted a much bigger revision to its first-quarter GDP estimate while Germany recorded a solid industrial production growth number that was even stronger than expected…. Chinese exports again fell and although its trade surplus rose, that was entirely driven by a very sharp drop in imports. Meanwhile, the vulnerability of other, smaller emerging markets in the event that the U.S., eurozone or Japan were to end their monetary expansion policies was brought home in news
Morning MoneyBeat Asia – WSJ
Morning MoneyBeat Europe – WSJ
Morning MoneyBeat US – WSJ
Danske Daily – Danske Bank
Eye-Opener – Nordea
US jobs report surprisingly strong * US Treasury yields soar, with some more near-term upside left * Setback for Turkish President Erdogan
Morning Markets – TF
Another week and another round of bickering, grandstanding and tense negotiations between Greece and its creditors. Meanwhile, G7 leaders have recommended a tough line on Russia and US president Barack Obama and German chancellor Angela Merkel agree that Greece must implement reforms. In Turkey, the lira has plunged on the shock news that Recep Tayyip Erdogan failed to secure the expected majority in his country's parliamentary election.
Daily FX Comment – Marc Chandler
Choppy FX Market, Turkey Rivals Greece for Sell-Off
Brussels Playbook – Politico
US Open – ZH
Germany Enters Correction; EMs In Longest Losing Streak Since 1990 Routed By Turkey, Obama Turmoils Dollar
FX Update – TF
After a strong jobs report on Friday, the USD looks set to gain further ground this week, though we have the persistent risk of ad hoc Greece headlines that could push the action either way with no warning.
From the Floor – TF
The dollar surged Friday on the back of that stellar NFP print and while it may have taken something of a breather during the Asian session, the pressure on the euro looks to be mounting.
Martin Sandbu’s Free Lunch – FT
Banking: more perilous than you thought - why everything you were taught about banks is wrong and why it matters
Aamukatsaus – Nordea
Kilpailukyvyn heikkeneminen kampittaa Kiinaa | USA:n työmarkkinaraportti odotettua vahvempi | Luvassa inflaatiolukuja Pohjoismaista tällä viikolla
Jan Hurri: Kolme ässää helteeseen: Kreikka-vääntö vasta alkaa – TalSa
Viime tingan lykkäys Kreikan lainalyhennyksiin antaa taas pari viikkoa lisäaikaa mutta ei ratkaise kriisiä. Vaikein velkavääntö on vielä edessä – eikä se koske Kreikka II:n häntiä vaan jopa kymmenien miljardien eurojen uutta rahoitustukea. Suomen uudelle hallitukselle on tiedossa tukala kesä.
Outlook on Finland's Aaa rating to negative from stable – Moody’s
"Hallitusohjelman päällä roikkuu kysymysmerkki" – TalSa
Luottoluokittaja odottaa nyt eniten talouskasvun vauhdittumista, arvioi ekonomisti. Hallitusohjelmakin olisi tosin hyvä saada käytännön asteelle.
"Ei Suomi pärjää halvan työvoiman maana" – TalSa
Yritykset eivät saa huonompia työntekijöitä, jos työhön tullaan aiempaa enemmän pelkällä kanditutkinnolla, sanoo EK:n asiantuntija.