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Thursday, April 27

27th Apr - ECB dull, US tax plan & Q1 GDP





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EUROPE
Riksbank’s split executive board adds stimulus – Danske Bank

  EUROPEAN CENTRAL BANK
Six Years After ECB Disaster Draghi Plots a Middle Ground – BB
Monetary policy decisions – ECB
ECB: Rates Unchanged, Says Ready To Expand QE If Outlook Worsens – ZH
Introductory Statement – ECB
Draghi Does Nothing and Talks about It – Marc Chandler
ECB: the courage not to act – Pictet
Return of inflation opens door for small changes in June – Nordea



UNITED STATES
U.S. Congress may seek one-week funding extension to avert shutdown –
Reuters
5 Things to Watch in the First-Quarter GDP Report – WSJ
BofA Capitulates: "The Trump Put Is Over", It's Time To Sell Small Caps – ZH

  TAX PLAN
Trump’s tax plan headed for challenging road – Nordea
Mnuchin Takes Crash-Course Navigating Washington With Tax Deal – BB
Markets Say 'Tell Us What We Don't Know' On Trump Tax Proposal – BB
Trump's Misguided Approach to Tax Reform – BB
Now Wall Street thinks tax reform will pass? – FT

  NAFTA
Trump tells Canada, Mexico, he won't terminate NAFTA treaty yet – Reuters
Trump Rules Out Swift Nafta Withdrawal in Favor of Renegotiation – BB


OTHER
BoJ: Nowhere close to taper – Nordea
BOJ sounds most upbeat on economy in nine years, policy unchanged – Reuters
The rising risk from North Korea – and what it means for markets – Danske Bank


REGULARS
Morning Report APAC – TF
Trump's tax reforms disappointed US investors leading to soft trading on Wall St.|The bearish mood has spread to Asia leaving equities struggling to make gains today. Meanwhile US talk of an exit from NAFTA has impacted forex markets.

FirstFT – FT
Trump decides not to withdraw from trade pact with Canada and Mexico

WSJ City – WSJ
Lloyds Profit Rises as Conduct Costs Fall, Deutsche Earnings Double

Danske Daily – Danske Bank

Eye-Opener – Nordea
Trump’s tax plan, strong Swedish data, ECB and the Riksbank ahead * Big question marks remain over the US tax reform * Bund yields falls, supply puts Italy, and Spanish yields under pressure * The SEK maintains its surge, but keep an close eye on the Riksbank today

Morning Markets – TF
Donald Trump's intentions to streamline the US tax system has been one of the more eagerly awaited bits of policy from Washington but when investors received a first look at his plans yesterday they were decidedly unimpressed.

From the Floor – TF
Donald Trump hoped to seal his first 100 days in office with a big public-relations coup but his tax reform plan has left markets completely underwhelmed as it manages the devilish trick of looking over-complicated and lacking detail at the same time. Maybe he is just an ordinary politician after all.

Daily Market Comment – Marc Chandler
Several Developments ahead of the ECB meeting

Brussels Playbook – Politico
Brussels hits Orbán — EU calls May’s bluff — Schulz probe dropped

Five Things You Need to Know to Start Your Day – BB

10 things you need to know before the opening bell – BI

US Open – ZH
Stocks Dazed After Trump NAFTA Flop, Tax Plan Disappointment; ECB Looms

Frontrunning – ZH


FINNISH
Aamukatsaus – Nordea
EKP kokoustaa tänään rahapolitiikastaan * Riksbank odottavalla kannalla * Ruotsin teollisuuden luottamus oli poikkeuksellisen vahva