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EUROPE
Why Italy's banking crisis will shake the
eurozone to its core – The
Telegraph
UNITED
KINGDOM
Britain’s long and
difficult divorce from Europe – BlackRock
Squaring the Circle: Can
Article 7 be Used to Force Article 50? – Marc
Chandler
TURKEY
Turkish Currency, ETF
Fall on Coup Attempt – WSJ
3000 detained as PM
hails country under “complete control” – FT
Turkey’s feckless
plotters – Politico
Erdogan Vows to Punish
Rebels as Leaders Say Coup Foiled – BB
Turkey’s coup, explained
in under 500 words – vox
Turkey’s Failed Coup:
Economists and Strategists React – WSJ
Erdogan's Opportunity
After the Coup – View
/ BB
Some Thoughts on Turkey
– Marc
Chandler
UNITED STATES
Generally solid data
sufficient to keep the prospect of a rate hike or two alive for this year. But
soft or mixed enough on key points to lean policy closer to the former than the
latter.
FX: cautious – Nordea
Have equity Markets gone
too far, too fast? Maybe. Lack of positive drivers short term is a risk. EUR
not a "safe haven" as used to be, USD prevails. GBP, AUD exposed, while JPY may get stronger
before resuming weakening.
Week Ahead – Marc
Chandler
EMU Returns to Center
Stage in the Week Ahead
REGULARS
Danske Daily
– Danske
Bank
China housing cools, May may wait,
No coup for you * Turkish coup attempt triggered risk-off moves * British PM
May awaiting “UK approach” until Article 50 * JPY weakened most since 1999 last
week
Morning Markets
– TF
This week starts in the shadow of
both Friday's terrorist attack on France and the Turkish coup attempt. Ankara
however was able to retake control of the country and this has erased 80% of
the sudden spike seen in USDTRY in the immediate wake of the coup.
Coup in Turkey Repulsed,
Risk-Appetites Return
Daily Market Comment
– Macro
Man
Difficult times in Turkey
Daily Market Comment – Polemic’s
Pains
Turkey. Markets think it’s all over.
It certainly is not.
Daily Press Summary
– Open
Europe
Brexit Minister Davis suggests new
EU migrants could be sent home * Fox aims for dozen new trade deals with non-EU
countries to come into effect on 1 January 2019 * EU Commission Vice-President:
Too early to say whether City will lose dominant role in euro clearing business
* EU fears crackdown by Erdoğan in wake of botched coup attempt * Italian
Europe Minister expresses preference for Norway-style UK-EU relationship after
Brexit * Sturgeon: Scotland is in a very, very strong position in intra-UK
Brexit talks * Majority of people do not want a second referendum on Brexit
deal * Johnson: UK will retain leading role in European co-operation * Brexit
will make NHS safer says President of RCS
Brussels Playbook
– Politico
Turkey’s Reichstag fire — Milk money
— Juncker tax jam
US Open – ZH
US Futures Rebound Sharply From
Friday's Coup Fears, Focus Shifts To M&A
Frontrunning
– ZH
FX Update
– TF
Markets have stabilsed again after a
late Friday dip on news of the attempted coup in Turkey. Attention turns today
to a BoE speaker discussing the Brexit's effect on monetary policy and later
this week to the ECB and Europe's banks.
From the Floor
– TF
Last week's Bank of England decision
to hold interest rates steady saw the GBP spike from its post-Brexit range but
there is little doubt that stimulus is forthcoming – the question is what form
it will take.
FINNISH
Aamukatsaus – Nordea
EKP:n nykyiset
ostot tulevat tiensä päähän * Vallankaappausyritys lisää epävarmuutta Turkin
markkinoilla * USA:n kesäkuun vähittäismyynti yllätti positiivisesti * Saksan
10 vuoden valtionlainakorko nousi nollan yläpuolelle