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Wednesday, May 31

31st May - Stocks attempted but failed to break higher





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EUROPE
Pound Falls as Poll Shows Tories May Fail to Win Majority – BB
Seven years after the first bailout, Greece is back in the headlines – Open Europe

  FUTURE OF EURO AREA
Reflection paper on the deepening of the economic and monetary union – EC
EU Commission: Euro zone may need treasury, minister, budget, bonds – Reuters
EU presses plan to bundle eurozone debt – FT
Papering over the cracks – FT

  DATA
Euro area annual inflation down to 1.4% - Eurostat
Euro area unemployment at 9.3% - Eurostat
Euro-Area Inflation Slows More Than Forecast Before ECB Meeting – BB
German Unemployment Declines as Economy Poised for More Growth – BB
Core inflation clouds ECB’s next move – Pictet
ECB probably not distracted by drop in core inflation – ABN AMRO
Euro-area inflation: No sustainable uptrend – Nordea


UNITED STATES
Editorial: Trump's European Misadventure – BB
The US and German Relationship – Marc Chandler


OTHER
BofA: "There Is Something Historically Unusual About Today's Market" – ZH


REGULARS
Morning Report APAC – TF
Sterling tumbled 70 pips on the suggestion that the Tories might only get 310 seats leading to a hung parliament.

FirstFT Daily Briefing – FT
May’s lead narrows, Nintendo v Apple, Brexit space race

WSJ City – WSJ
Pound Hit by Hung Parliament Fears, Consumer Confidence Climbs

Danske Daily – Danske Bank

Eye-Opener – Nordea
Yougov poll: May could lose majority, EA inflation today * Euro-area inflation to fall * EUR stronger against NOK and SEK * Full market confidence in June hike

Morning Markets – TF
Crude oil prices extended Tuesday's losses overnight as traders look for data-driven support beyond Opec jawboning. meanwhile the increasing chances of a hung parliament following the June 8 UK election have taken the air out of sterling versus both USD and EUR.

From the Floor – TF
Sterling is under pressure as opinion polls indicate that the Conservatives' lead in the run-up to the UK's June 8 general election is disappearing. Meanwhile, in the commodities markets, crude oil remains rangebound and its upside is limited at this stage.

Daily Market Comment – Marc Chandler
Sterling Takes it On the Chin

Brussels Playbook – Politico
Finishing the eurozone — Juncker in Berlin — London Playbook

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
Quiet Month End Markets Hide "Below The Surface" Fireworks

Frontrunning – ZH

FX Update – TF
Sterling is under pressure once again as a fresh poll suggests that the Conservatives may risk losing their majority with the election resulting in a hung parliament. Elsewhere the JPY continues to look firm on strong Japanese data and lower US yields after key PCE inflation data.


FINNISH
Aamukatsaus – Nordea
Fokuksessa euroalueen inflaatio: Tänään julkaistaan euroalueen toukokuun alustavat inflaatioluvut * Ruotsin vaisut BKT:n kasvuluvut sysäsivät kruunun laskuun * Britannian punta heikkeni parlamenttivaalien alla


Populismipuolueiden voittokulku Euroopassa jatkuu – valtamedian tulkinta tilanteesta on täysin väärä – Suomen Uutiset

Komissio ehdottaa: Euromaiden velat yhteen – Verkkouutiset
Keskusta: Ei liittovaltiota eikä tulosiirtounionia – Verkkouutiset
Perussuomalaiset: Joustavampi EU on edellytys sen koossapysymiselle – Verkkouutiset
Euroopan komissio vetäisi ”täysillä liittovaltioon”-vaihteen silmään – Suomen Uutiset

Myrsky EU-kansanäänestyksestä – Suomen Uutiset
Sipilä: Trumpilta ei kuultu sitoutumista Euroopan turvallisuuteen – Verkkouutiset