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Tuesday, June 21

21st Jun - Still riding high on Remain

Previously on MoreLiver’s:

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Spain: Another shot at voting for changeNordea

European banks: Weak start to the year, but no disasterDeutsche Bank

Prime Ministers listen too much to voters, complains EU's Juncker The Telegraph

European Politics Beyond the UK ReferendumMarc Chandler

Europe MonthlyDaiwa

German Court gives green light to ECB – ABN AMRO
ECB: Support from Germans’ favourite court – Nordea
Court "Reluctantly" Rejects Challenges To OMT Program, Lists 6 Conditions – ZH
Speech Mario Draghi: Hearing of the European Parliament – ECB
Draghi Says ECB Is Ready to Respond to Any Brexit Turmoil – BB

EU referendum – What to look out for on the night – Open Europe
Summers: Brexit would be a history-defining, irreversible mistake – WaPo
What data can tell us about the Brexit vote – BlackRock
Avoiding Brexit Doesn’t Solve Economic Issues, Says El-Erian – WSJ
Cameron: ‘Brits Don’t Quit’ in Last-Ditch Plea to Stay in EU – BB
Bookies Say It’s Almost All Over as Gamblers See No Brexit – BB

Monetary Policy Report – FED
Fed: Stocks "Vulnerable", Forward Valuations "Well Above" Norms – ZH
Goldman Responds To Yellen's Testimony: "Little New Ground" – ZH
Fed Chair Janet Yellen: Slowdown in job market likely ‘transitory’ – WaPo
Yellen: Semiannual Monetary Policy Report to the Congress – Bill McBride
Yellen Offers Subtle Change to Inflation, Job-Market Outlook – BB
Fed cautious on rates due to Brexit, U.S. hiring slowdown: Yellen – Reuters

Danske DailyDanske Bank

Euro rates updateNordea

Equities up, yields up, GBP up, Brexit down * Yellen in US Congress and Brexit debate at Wembley * Yields jump on declining Brexit likelihood…And so does GBP, while safe haven currencies weaken

Morning MarketsTF
The risk-on rally that has found its most obvious embodiment in sterling's rise hit a diversion overnight but has roared back into life this morning as markets perhaps prematurely seem to be ruling out a Brexit vote on Thursday.

Euro wrap-up Daiwa

Daily Market Comment Marc Chandler
Greenback Remains Soft

Daily Market CommentMacro Man

Daily ShotTF
Bookmakers are placing the chances of a Brexit at one-in-four leaving the referendum as a serious event risk but also reflecting a gain in 'Remain' sentiment. The pound has rallied accordingly.

Daily Press SummaryOpen Europe
Cameron pledges to continue with EU reform if Remain wins, as former aide criticises him over “undeliverable” migration target * Referendum on knife-edge according to polls * German Constitutional Court rejects legal challenge against ECB bond buying but supports certain conditions * Hammond and Tusk both say UK’s referendum should cause EU to reassess its future * Polish Europe Minister: Any post-Brexit deal would need to address problem of free flow of labour force * The Daily Telegraph backs Leave and The Guardian backs Remain * Leaked letter shows Italy believes EU-Canada trade deal does not need to be ratified by national parliaments * Merkel’s Union gains a point in the polls * Turkey prevents Syrian refugees from leaving to Germany

Brussels PlaybookPolitico
Brexit overload — Leaked summit conclusions

Stocks, Sterling Rise As "Brexit" Fears Forgotten; Dollar Drops Ahead Of Yellen Speech


FX UpdateTF
The unbearable wait for Thursday’s UK vote continues. Meanwhile we have Fed chair Yellen out today and tomorrow delivering semi-annual testimony on the economy and monetary policy to Congress.

From the FloorTF
Sterling remains in celebratory mood and holding its gains following its largest 2-day advance since 2008 and less than 48 hours before Britain's polling booths open for what John J Hardy Saxo Bank's head of FX strategy calls "one of the biggest events in a generation".

Muutosta vai muutosvastarintaa Espanjassa? * Yellen tänään ja huomenna kongressin kuultavana * Tuoreimmat galluptulokset osoittavat Bremain-leirin olevan hienoisessa johdossa * Markkinoiden silmissä Brexit-riskit ovat hellittäneet