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Tuesday, June 21

21st Jun - Still riding high on Remain



Previously on MoreLiver’s:


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EUROPE
Spain: Another shot at voting for change – Nordea

European banks: Weak start to the year, but no disaster – Deutsche Bank

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

European Politics Beyond the UK Referendum – Marc Chandler

Europe Monthly – Daiwa

  EUROPEAN CENTRAL BANK
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

  BREXIT
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


UNITED STATES
  FEDERAL RESERVE
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


REGULARS
Danske Daily – Danske Bank

Euro rates update – Nordea

Eye-Opener – Nordea
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 Markets – TF
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 Comment – Macro Man

Daily Shot – TF
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 Summary – Open 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 Playbook – Politico
Brexit overload — Leaked summit conclusions

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

Frontrunning – ZH

FX Update – TF
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 Floor – TF
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".



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