Here
are the links to the weekly roundups, reviews and also previews of the beginning
week.
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LAST WEEK
Weekly Scoreboard – Between
The Hedges
Weekly
Market Review
– ZH
Stocks
Hit Record Highs; Shrug Off "Transitory" Covfefe In US Macro Data
U.S. Weekly Fund Flows
Report
– Lipper
Alpha Insight
Funds
Grow Their Coffers by $13.1 Billion
Earnings Insight June-2 – Factset
NEXT WEEK
EcoWeek – BNP
Paribas
The
global increase in cyclical indicators has slowed recently, and sometimes even
gone in reverse. Such a loss of momentum is unsurprising. * European Commission
releases reflection paper on deepening EMU. The necessity of the task seems
proportional to the challenge of achieving it.
Week
Ahead
– Nordea
What
a week ahead: UK election and the most interesting ECB meeting so far this
year. Chinese FX reserves and Norwegian inflation are also due.
Weekly Focus – Danske
Bank
ECB
meeting and UK elections on Thursday
Strategy:
Low yield environment intact – Danske
Bank
The
global economy is still in fairly good shape, although starting to lose some
tailwind. It would be a mistake to think that political risks are now off the global
financial agenda. The risks have now (once again) moved back to the US. We argue
that we are still in a bond friendly environment: 1) the global economy is
losing steam 2) the reflation theme has peaked as inflation has peaked 3) If
the ECB changes course it would be seen as premature and inflation expectations
would dive further – and the result would be a ‘bearish flattening’ of the
yield curve
Global Week Ahead – Scotiabank
Watch
Draghi, then Comey, then vote
Weekly Market
Outlook
– Moody’s
Macro Weekly – ABN
AMRO
Trump
walks away from Paris Accord, but US business remains committed * Theresa May’s
lead in the polls is shrinking * EN Marche! set to do well in upcoming
elections * Inflation eases in Europe and the US * Confidence data mixed and
levelling off, suggesting continued decent global growth
[later:]
Speculative
Positioning – Marc Chandler
FX
Outlook – Marc Chandler
Macro
Comment – Marc Chandler
Weekly Summary – Urban
Carmel
All
of the main US indices made new all-time highs this week. The indices appear to
be supported by strong breadth, with 7 of the 10 SPX sectors also making new
highs. This post reviews several studies that suggest price momentum is likely
to carry the indices higher over the next several months and through year-end.
That does not preclude an interim drawdown of at least 5% - we regard that as
very likely, sooner rather than later - but any weakness has a strong
probability of being only temporary.