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EUROPE
Russia: Better than expected, but still challenging
time – Nordea
The economy is still in
recession. However, the beginning of the year has proved a positive surprise as
industrial output has shown growth along with some leading indicators. Thus
there is some upside risk to our 2016 GDP forecast.
Obama's Brexit Intervention Makes Waves in U.K.,
Ripples in U.S. – BB
The president will urge
Britons to stay in the EU on Friday * Businesses oppose Brexit by large
margins, trade group says
SWEDISH CENTRAL
BANK
Riksbank adds linkers to
QE – Danske
Bank
The Riksbank to expand
QE – Nordea
Riksbank Leaves Key Rate
Unchanged – BB
Riksbank Unexpectedly
Boosts QE To Weaken SEK; SEK Jumps – ZH
The Riksbank’s inflation
frustration – Nordea
SEK rates & fx: the
aftermath of Riksbank – Nordea
EUROPEAN
CENTRAL BANK
Draghi Can Argue Glass
Is Half Full as ECB Pumps Up Stimulus – BB
Draghi to mount defence
of ECB in face of German criticism – Reuters
Euro steadies as ECB
meets, eyes on policy signals from Draghi – Reuters
The ECB’s Headache With
Inflation Expectations – WSJ
What to Expect From
Today's ECB Rate Decision – BB
ECB rate decision live
comments – FT
ECB meeting live comments
– WSJ
Monetary policy
decisions – ECB
Introductory statement – ECB
Details of the corporate
sector purchase programme (CSPP) – ECB
Draghi to Markets: Stop
Fretting About Negative Rate Impact on Banks – WSJ
No helicopters at the
ECB, not even in the basement – Carsten
Brzeski
ECB ready to ease again
if necessary – ABN
AMRO
ECB review: ALL
instruments are still available – Nordea
ECB in implementation
mode – Danske
Bank
ECB focuses on policy
implementation, reaffirms independence – Pictet
Even the Best Central
Bankers Can't Work Miracles – View
/ BB
No handouts, but Draghi
pledges loose policy 'as long as needed' – Reuters
Merkel says criticism in
Germany of ECB is not interference – Reuters
Draghi Says ECB Critics
Risk Provoking Need for More Action – BB
OTHER
Emerging Markets Outlook: Years of slowdown
coming to an end – Nordea
In our latest Economic
Outlook, we argued that global growth will be slightly higher in 2016 than in
2015. The role of Emerging Markets (EM) weighs on that view. We believe EM
growth will be higher this year after five consecutive years of slowdown. The
recent increase in commodity prices strengthens our conviction.
The $2 Trillion Project to Get Saudi Arabia’s
Economy Off Oil – BB
Eight unprecedented
hours with “Mr. Everything,” Prince Mohammed bin Salman.
REGULARS
Danske Daily – Danske
Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Surging oil prices, USD &
Treasury yields higher, EUR on defensive * Expect a dovish ECB and more QE from
Riksbank * Oil prices higher due to production cuts and meeting plans * Stronger
USD as oil prices alleviate Fed’s fears
Morning Markets – TF
Stocks surged higher in Tokyo helped
by the weaker yen. In Sydney the S&P/ASX200 gained ground on the back of a
rally in the resources sector while some calm returned to China's volatile
share markets. Moving into Europe markets are of course awaiting the latest
word from ECB head Mario Draghi.
Daily Market Comment –
Marc
Chandler
ECB Takes Center Stage
Daily Market Comment
– Polemic’s
Pains
Polemic's trading aphorisms
Matt Levine’s Money Stuff
– View / BB
Daily Press Summary – Open
Europe
Obama set to make
intervention in EU referendum debate during visit to London * Foster: If the EU
fails to reform to face up to reality, it invites destruction with or without a
Brexit * New YouGov poll finds business opinion narrowly in favour of ‘Remain’
* Support for EU-US free trade deal drops sharply in Germany, new poll finds * Number
of people granted asylum in the UK increased by 26% in 2015 * EU Commission
proposes Schengen visa-free travel for Ukrainian nationals * Polish opposition
parties attempt to mobilise pro-EU sentiment * Germany’s centre-left
Vice-Chancellor says ECB policy is “very problematic”
Brussels Playbook – Politico
Obama mini-summit — How
media cover the EU
US Open – ZH
Futures, Crude Unchanged Ahead Of
Draghi As Parabolic Move In Steel, Iron Ore Continues
Frontrunning – ZH
A powerful rally in
crude oil silver and other commodities sparked a broad-based rally in Asian
equity markets on Thursday with the Nikkei jumping 2.7%. Currencies traded
within tight ranges in the countdown to the European Central Bank's governing
council meeting.
FINLAND & FINNISH
Hallituksen
työllisyystavoite on tärkeä, vaikka se karkaisikin * Riksbank laajentaa
arvopaperiostojaan 65 miljardilla kruunulla * Turkin keskuspankki leikkasi yli
yön -korkoa * Iso-Britannian työttömyysaste polkee paikoillaan