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EUROPE
ECB: first (hawkish)
move since 2011 – Pictet
Draghi Is Right to Hold
Out for Wage Growth – BB
UK
ELECTIONS
Hung parliament adds
government risk premium to GBP – Danske
Bank
Hung parliament raises
Brexit risks – ABN
AMRO
May Fights to Remain
U.K. Premier After Election Debacle – BB
Theresa May's Biggest
Mistake – BB
EU Turns Schadenfreude
Up to Maximum After May Election Disaster – BB
UNITED STATES
FOMC preview: A June
hike very likely – balance sheet run-off imminent? – Nordea
Comey Leaves Trump Under
a Crippling ‘Cloud’ of Investigations – BB
REGULARS
Morning Report APAC – TF
Sterling slumped as much as 1.9% as early results pointed to a poor
showing for Theresa May's Conservative Party.
FirstFT Daily Briefing – FT
UK hung parliament, Qatar and Trump, ‘self-talk’
WSJ City – WSJ
What a Hung Parliament Means; EU Signals No Government, No Talks;
Analysts Eye Tough Time Ahead for the Pound
Danske Daily – Danske Bank
Eye-Opener – Nordea
UK election leads to hung parliament, May set to lose her majority * Comey
calls Donald Trump dishonest, but doesn’t deliver a smoking gun * Slightly
dovish market interpretation of the ECB meeting
Morning Markets – TF
Britons have done it again and this time from the left. The Tories
failure to seize a majority reflects UK voters' alienation from the political
centre. The Brexit negotiations are now in a cloud of doubt as the shape and
form of the country's next government is unknown; the pound once again is in
free-fall.
From the Floor – TF
In a stunning backfiring of prime minister Theresa May's strategy, the
British Conservative Party failed to win a majority in Thursday's election,
leaving the UK with a hung parliament and a weak hand to negotiate Brexit. The
pound fell sharply on the Tories' election humiliation, and GBP could be in for
further losses as the election outcome creates huge uncertainty.
Daily Market Comment – Marc Chandler
Sterling Shocked, Dollar Broadly Firmer
Brussels Playbook – Politico
May-hem as UK election backfires on May, ends in hung parliament — What
it means for Brexit
Five Things You Need to
Know to Start Your Day – BB
Mayhem in UK * Comey bombshell * Markets ignore May * Brazil
10 things you need to
know before the opening bell – BI
US Open – ZH
S&P Futures At Record High After "Shocking" UK Election
Result
Frontrunning – ZH
FX Update – TF
Sterling weakened sharply the instant the exit poll was released last
night and looks soft this morning as the result merely extends the painful
uncertainty of how the Brexit negotiations will shape up. Elsewhere USD ticks
up after Comey testimony and dovish Draghi keeps EURUSD subdued.
FINNISH
Aamukatsaus – Nordea
Taas yllätys Briteissä: Konservatiivit menettivät
enemmistönsä * Punta laskussa * EKP muutti ohjeistustaan