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EUROPE
A British Bridge For A Divided Europe – Social
Europe
Putin's Propaganda Machine Is Meddling With
European Elections – BB
Russia starting to
`weaponize' European elections: Forbrig * EU forms task force to counter
`active propaganda campaign'
Enlund: SEK: will the Riksbank commit a policy
mistake? – Nordea
Strong growth and an
uptrend in inflation has led to speculation the Riksbank is about to turn
hawkish. We would argue that doing so would entail risking substantial SEK
strength (cf. BoE & Fed), potentially enough to push growth rates close to
zero in late 2017 according to a financial impulse approach.
Euro zone ready to finalize Greek deal next
week, if talks succeed
– Reuters
EUROPEAN
CENTRAL BANK
Huopainen: ECB
must meet German criticism of monetary policy head on – TF
When
a central bank’s ability and willingness to conduct monetary policy is
questioned it loses credibility. German criticism of the European Central Bank
is worrisome and calls for a solid policy response. Perhaps that will be the
dovish surprise from this week's meeting. Meanwhile the EURUSD is close to the
top of its longer-term range.
Koefoed: ECB
preview: Does Draghi have room to surprise? – TF
Unlike
the explosion of announcements that was the March ECB meeting today's meeting
of the governing council promises to be dull. The ECB meeting always has the
potential to be a market-mover but this particular one looks destined to be a
non-event.
Mario Draghi, the
ECB and German trauma
– Politico
How
Germany has fundamentally misconstrued European monetary policy.
Negative Rates
Should Prompt German Action, not Angst – View
/ BB
Germany
is wrong to lay the blame for its troubles at the feet of the ECB; both Germany
and its European partners must do the heavy lifting themselves.
Why Draghi will
try to mend fences with Germany – Politico
At
the ECB’s latest monetary policy meeting, reviving inflation will be its main
focus.
REGULARS
Euro rates update – Nordea
Eye-Opener – Nordea
Risk-on sentiment, JPY and USD
weaker, UK jobs report today * Brexit uncertainty to show up in UK hiring? * Yields
feeling the heat from a heavy auction week * Positive market sentiment
weakening safe haven currencies
Morning Markets – TF
Argentina has thundered back into
international capital markets with a massively oversubscribed $16.5bn bond sale
its first in 15 years since defaults and arguments with creditors forced it off
the market. This has sent sovereign debt in Japan higher with the yield on its
10-year benchmark touching a record low of minus 0.129% in late-session
trading.
Daily Market Comment –
Marc
Chandler
Bulls' Charge Stalls, while
Greenback Consolidates Losses
Daily Market Comment
– Macro Man
Hi ho silver
Daily Market Comment
– Polemic’s
Pains
Sending oil down and politics up.
Daily Press Summary – Open
Europe
Juncker: EU interference
in citizens’ daily lives is causing them to turn away from the European project
* EU to move naval operations into Libyan waters as Merkel approval rating
plummets in press-freedom controversy * Dutch Parliament reject immediate
withdrawal from EU-Ukraine treaty * Germany’s populist AfD plans to create
“joint-chorus” of EU-critical parties * Turkey threatens to scupper migrant
deal unless visa liberalisation is in place by June
Brussels Playbook – Politico
Android alert —
Migration junk ratings — New York, New York
US Open – ZH
Crude Slides After Kuwait Strikes
Ends; China Markets Tumble
Frontrunning – ZH
Argentina could hardly
have hoped for it to go better and a 5-to-1 oversubscription on its first bonds
offering in 15 years can only be deemed a big success.
FINLAND
& FINNISH
Riksbankin
tie on kohta kuljettu loppuun * Kuwaitin öljytyöntekijöiden lakko päättyi * Euroalueen
pankkien luottoehdot helpottuivat hivenen * Britannian työmarkkinoiden
kiristyminen hidastuu