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Friday, June 3

3rd Jun - Bad US jobs report kills June hike



Previously on MoreLiver’s:


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EUROPE
Schäuble and the Banking Undead – FT


UNITED STATES
  MAY EMPLOYMENT REPORT
May Jobs Report – The Numbers – WSJ
May Employment Report: 38,000 Jobs, 4.7% Unemployment Rate – Bill McBride
Comments: A Disappointing Employment Report – Bill McBride
Economists React to the May Jobs Report: ‘An Unqualified Dud’ – WSJ
The May Jobs Report in 12 Charts – WSJ
How the Verizon Strike Hit Jobs Report, and What It Means for June – WSJ
May’s job report tells Fed to wait – ABN AMRO
No summer hike – Danske Bank
Disappointing jobs report means Fed may wait before hiking rates – Pictet
No Fed rate in June - jobs report review – Nordea


OTHER
Three Political Events before the UK Referendum – Marc Chandler

Schroedinger's assets – Frances Coppola


REGULARS
Danske Daily – Danske Bank

Euro rates update – Nordea

Eye-Opener – Nordea
Brent bouncing amidst muted markets, payrolls awaited * US payrolls to support a rate hike rather soon * Oil prices bouncing after OPEC swoon * Good news for Trump

Morning Markets – TF
The solid jobs figure from ADP boosted Wall Street on Thursday which in turn gave Asian markets a positive lead. Crude price gains also helped lift investor sentiment in Asia. However investors remain cautious ahead of the release of US nonfarm payrolls data today.

Euro wrap-up – Daiwa

Daily Market Comment – Marc Chandler
Currency Market Becalmed Ahead of US Jobs Data

Daily Market Comment – Macro Man
The last stop before Fed Junction

Daily Shot – TF
We are presently seeing sharp spikes across a variety of commodities but while some of these rallies look impressive the CRB broad commodity index's recovery will take a while.

Daily Press Summary – Open Europe
Voters test Cameron in first major TV appearance in referendum campaign * Merkel warns UK would not enjoy same degree of market access post Brexit as new polls show large majorities of French and Germans want UK to stay in * Dijsselbloem criticises Juncker for suggesting France gets deficit leeway from EU Commission “because it’s France” * Ankara reacts with fury after Bundestag votes to recognise massacre of Armenians as genocide * ECB holds off on decision to re-accept Greek bonds as collateral

Brussels Playbook – Politico
The Terminator, Parliament edition — The UK’s anti-Boris

US Open – ZH
Futures Flat Ahead Of Strike-Impacted Jobs Report; Commodities Approach Bull Market

Frontrunning – ZH

FX Update – TF
Today’s US data are seen as the key tip-off for the Fed’s interest rate decision and guidance at the June 15 FOMC meeting and could generate significantly volatility due to the Fed’s clear data dependence.

From the Floor – TF
The NFP for May could be one of the critical data points that sets the US Federal Reserve up for a summer rate-hike move with July looking more than ready to take on all-comers.


FINNISH
Aamukatsaus – Nordea
Draghi kieli keskellä suuta * OPEC-kokouksessa ei yllätyksiä *​ Draghi onnistui pitämään markkinamuutokset maltillisina *​ Tänään markkinoilla seurataan USA:n työllisyysraporttia

”Eliitillä ei ole oikeaa vastausta” – TE
Vain poliitikkojen epärehellisyys pitää Euroopan rahaliiton koossa, sanoo Englannin keskuspankin entinen pääjohtaja lordi Mervyn King.

Ekonomisti varoittaa euroalueen tuhosta – ”Te Suomessa kärsitte, mutta se ei riitä” – HS
Rahaliitto uhkaa jo eurooppalaista demokratiaa, varoittaa Mervyn King.

Raikas tuulahdus Iso-Britanniasta – Professorin ajatuksia