Previously on
MoreLiver’s:
Follow ‘MoreLiver’ on Twitter
EUROPE
In this essay, Jeffry
Frieden looks at the process of creating a monetary union in the United States
and draws lessons for the EU.
Evans-Pritchard: Leave camp must accept that
Norway model is the only safe way to exit EU – The
Telegraph
Angela Merkel, the roman à clef – Politico
EUROPEAN
CENTRAL BANK
Monetary policy
decisions – ECB
Introductory statement
to the press conference – ECB
Remaining details of the
corporate sector purchase programme (CSPP) – ECB
Macroeconomic
projections June 2016 – ECB
ECB tweaks growth,
inflation forecasts a shade higher – Reuters
ECB Stimulus Will
Include Corporate Bonds Starting Next Week – BB
ECB: Done for today, not
done for good – Nordea
El-Erian: Draghi's
Message to European Political Leaders – View
/ BB
ECB – five takeaways – ABN
AMRO
ECB on autopilot, sticks
with very dovish message – Pictet
ECB waits for the full
effects – Danske
Bank
Feeble Economic
Forecasts Leave ECB Watchers Puzzled – WSJ
UNITED STATES
JOBS
REPORT
Waiting For The
Employment Report – Tim Duy
5 Things to Watch in the
May Jobs Report – WSJ
Payrolls probably
lowered by Verizon strike – jobs report preview – Nordea
The Verizon Strike and
the May Employment Report – Bill
McBride
U.S. private payrolls
rise in May; weekly jobless claims fall – Reuters
OTHER
OPEC
With The OPEC Meeting
Now In Session, Here Are The Latest Updates – ZH
Oil Drops After OPEC
Fails To Reach Oil Freeze Agreement – ZH
OPEC Keeps Status Quo
After Failing to Agree on Output Cap – BB
REGULARS
It’s Draghi Day! * ECB and OPEC
meetings in focus * Risk of a selloff if Draghi doesn’t strike a sufficient
dovish tone * Yen rose against all G10 currencies, while PM Abe postposed sales
tax hike
The Nikkei took a massive hit
overnight as the yen strengthened significantly on the back of a market
underwhelmed by Shinzo Abe's step back from an anticipated stimulus package.
Euro wrap-up –
Daiwa
Greenback Mostly Softer Ahead of ECB
and ADP
Equity model update
Daily Shot – TF
Brexit risk now dwarves
the Scottish independence vote and the UK general elections in terms of GBP
implied volatility and UK inflation expectations have fallen as the market
views Brexit as deflationary. Ireland's manufacturing activity is softening at
least partly due to Brexit concerns while in Germany 70% of government bonds
now have negative yields.
Rajoy: Brexit “would be
very negative for everyone and from every perspective” * Ankara and Berlin on
crash course as Bundestag to recognise Armenian genocide * Peter Lilley:
Importance of trade deals “is grossly exaggerated” * European Commission issues
negative opinion regarding the state of rule of law in Poland * New poll:
Hollande would win only 14% of the vote in first round of presidential election
* New research suggests Schools with large numbers of EU students 'perform
better' * Migrant quotas to be pushed down the EU agenda by Slovakia * French
journalist: If UK stays in EU, it will “ruin our lives like never before”
The
political-industrial-golf complex — EBS corridor talk
Global Markets Flat, Coiled Ahead Of
Today's Risk Events: OPEC And The ECB
Frontrunning – ZH
Much attention will be
focussed on Vienna today as by a curious coincidence the city hosts two
important events – the European Central Bank's June policy-setting meeting and
oil cartel Opec's semi-annual conference its 169th.
FINNISH
EKP
tarkkailulinjalla * USA:n tehdasteollisuuden luottamus (ISM) vahvistui
yllättäen * OPEC kokoustaa tänään * Japanin kulutusveron korotusta lykättiin
jälleen