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Tuesday, August 2

2nd Aug - Banks still in trouble

Previously on MoreLiver’s:

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Carney Quantifies Gloom With BOE Stimulus Debate at Crunch Point – BB
U.K. Fiscal Spur Urged by Ex-BOE Officials as Carney Hits Limits – BB

European Bank Bloodbath Destroys Stress Test Credibility – ZH
Europe’s Tumbling Lenders Lose Almost Half Their Value in a Year – BB
European bank shares under fire – FT

US Labour Market MonitorDanske Bank
July report set to attract much attention as both employment and growth have slowed in 2016

U.S. consumer spending exits second quarter with strong momentumReuters

Abe's Fiscal Policy: More of the SameMarc Chandler
Why Japan's "Massive" ¥28 Trillion Fiscal Stimulus Plan Was A DisappointmentZH
Abe’s stimulus lesson for the world – FT

Danske DailyDanske Bank

Mostly falling PMIs, open-minded Fed, more monetary easing * UK confidence really suffering * ECB buys further out the curve * Risk off and Fed’s Dudley drove the USD higher

Morning MarketsTF
The day started with a rate cut by the Reserve Bank of Australia. The main cash rate was lowered by 25 bips to a new record low of 1.5% sending the AUD down. UK data due today could hint at Thursday's Bank of England action.

Euro wrap-upDaiwa
Bunds made modest losses while data showed that interest rates on bank loans in the euro area have fallen to a record low. Gilts made losses as the UK construction PMI fell less than expected after the referendum vote, albeit still reaching a more than seven-year low.

Daily Market CommentMarc Chandler
Greenback Slides Despite RBA Rate Cut and 7-year Low in UK Construction PMI

Daily Market CommentMacro Man
The one chart that everyone's talking about
Daily Shot TF
The European Banking Authority's stress test as well as the Banca Monte dei Paschi rescue and "expected default frequency" show that the Italian banking system remains a major issue for the Eurozone. Also produtivity is not going the right direction in Italy. Things are looking differently for Spain.

Daily Press SummaryOpen Europe

Brussels PlaybookPolitico

Global Shares Slide As Japan Stimulus Disappoints, RBA Underwhelems, Italy Bank Fears Return


From the FloorTF
AUDUSD could be set for a push beyond 0.7600 towards the heady heights of 0.7800 if dollar weakness persists.

Kuuma asuntokauppa? * Fedin jäsenet varovaisen myönteisiä koronnostojen suhteen * USA:n teollisuussektori jatkaa maltillista elpymistään *​ Australian keskuspankin koronlasku heikentää Australian dollaria

IMF-virkamiehet ajoivat EU:lle mieluista politiikkaa – valvontaelimeltä ankarat moitteetSuomen Uutiset