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Tuesday, May 31

31st May - Mediocre European data



Previously on MoreLiver’s:


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EUROPE
EU chief Tusk slams utopian 'illusions' of united Europe – Reuters
Donald Tusk calls on EPP to fight ‘radical and brutal’ populism – Politico

Greece's Primary Surplus – Klaus Kastner

Brexit Referendum Hub – Open Europe

  EUROPEAN CENTRAL BANK
How QE Is Widening Eurozone Imbalances – WSJ
Target2 claims between central banks are on the up again

Monetary developments in the euro area: April 2016 – ECB

Euro area: Inflation still negative and loan growth still at a snail’s pace – Nordea
Inflation increased just a little bit in May as expected. Unemployment continued to decrease and the growth of loans to non-financial corporations is still anemic. All this will not come as a surprise to the ECB ahead of the policy meeting on Thursday which will most likely be a wait-and-see meeting.


OTHER
These Are The Key Event Risks In June – ZH

Negative talk about whether negative rates really work on the rise – Reuters
Noah Smith: There's Little Positive About Negative Rates – BB


REGULARS
Danske Daily – Danske Bank

Eye-Opener – Nordea
Positive Asian markets; Euro govies sold off after Yellen’s Friday speech; USD/CNY close to January highs * Most important today: Euro-area inflation and Chinese PMI (during the night) *Light activity with the US and the UK off yesterday * JPY concludes May with a 4% weakening

Morning Markets – TF
There was an upbeat mood on equity markets across much of Asia. In China hopes that China A-share listings would soon be included in the MSCI prompted an equities rally.

Euro wrap-up – Daiwa

Daily Market Comment – Marc Chandler
Sterling Slips and Aussie Pops as Investors Await Fresh Insight into Fed Trajectory

Daily Market Comment – Macro Man

Daily Press Summary – Open Europe
New poll suggests Leave benefiting from focusing on migration, amid concerns many Labour voters are not aware that the party backs continued EU membership * Rescue of 18 Albanians fuels fears English Channel may become new migrant smuggling route * Survey of economists finds large degree of consensus on short term negative impact of leaving the EU and single market * France braces itself for more strikes over labour reform bill, but trade unions soften tone * Tusk: We failed to notice that ordinary people do not share our euro-enthusiasm * Disbursement of Greek bailout funds could face further delays * Poland’s ruling party steps up rhetoric in rule of law dispute with European Commission * Merkel’s Grand Coalition polling below 50% for the first time

Brussels Playbook – Politico
Slavery in Europe rising — Tusk’s modest proposal

US Open – ZH
Futures Flat, Gold Rises On Weaker Dollar As Traders Focus On OPEC, Payrolls

Frontrunning – ZH

FX Update – TF

From the Floor – TF
With risk-on sentiment sweeping across Asia, equity markets could be "ready to rip", if the US comes back from its three-day Memorial Day weekend in a good mood, says Saxo Bank's Kay Van-Petersen. In the FX markets, the Australian dollar jumped on better-than-expected data from the building sector.


FINNISH
Aamukatsaus – Nordea
Öljyä euroalueen hintoihin * Ruotsin talous kasvoi odotusten mukaisesti * Norjan vähittäismyynti polki paikoillaan *​ Kiinan teollisuuden ostopäällikköindeksit julkaistaan ensi yönä

Korot ja saksalaiset sekä italialaiset kotitaloudet – Roger Wessman

Valtiontukien arviointikriteerit mielivaltaisia, valheellisia lukuja – Suomen Uutiset

Professori: suomalainen työelämä täynnä bullshittiä – Puhuttamo

Ravintola-ala opettaa yhteiskuntaa keikkatalouteen – Viisi Tähteä