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EUROPE
The Hartz myth: A closer
look at Germany’s labour market reforms – CER
The myth of the German
jobs miracle – FT
ECB Patience Endures as
Villeroy Awaits Change of Season – BB
Super Mario Is Getting
Markets’ Respect as Europe Calls the Tune – BB
OTHER
Macro Manager Massacre:
"Financial Markets No Longer Make Sense" – ZH
Deutsche Bank: Markets
Seem To Have Entered Frothy Territory (If Not A Bubble) – ZH
Fed Has Put Markets in
Survival Mode – BB
Who Needs Doves When You
Have Goldilocks? – BB
Holiday recap: while you
were away – Nordea
Equity Asset Allocations:
Previous high levels preceded brutal bear markets – BB
Deutsche: "Once Carnage
From Higher Rates Hits, We Move To Helicopter Money" – ZH
JPMorgan's Dimon Warns
QE Unwind Could Be Far Worse Than Fed Hopes – ZH
Academic Research
Insight: Facts about Factors – Alpha
Architect
The $68 Billion Reason
Why China May Start Adding Cash Again – BB
REGULARS
Morning Report APAC – TF
In midday trade the Nikkei was up 0.2% and the ASX200 up 0.3% as
investors focus on upcoming central bank events.
FirstFT Daily Briefing – FT
Trump Jr’s Russia email, UK lawyers’ Irish dash, Bitcoin’s existential
crisis
WSJ City – WSJ
Pearson Sells $1 Billion Penguin Stake, City Optimism Slips, Trump Plans
to Put Mark on Fed
“Best of the web” daily
charts – Lukas Daalder
Danske Daily – Danske Bank
Eye-Opener – Nordea
Core inflation much above Norges Bank’s forecast * US numbers today,
while we await Yellen tomorrow * Summer lull has taken its grip on financial
markets
Morning Markets – TF
The risk-on move in markets remains in place as gold prices track rising
equities lower. Asian shares posted robust gains Tuesday with the Nikkei rising
0.57% the Hang Seng up 1.1% and South Korea's Kospi index closing to 0.54%
ahead of Federal Reserve chair Janet Yellen's testimony to the US Congress
Wednesday and Thursday.
From the Floor – TF
Sentiment in European and Asian equity markets is improving after last
week's tech-sector selling, says Saxo Bank's equities strategy chief Peter
Garnry. Meanwhile, oil's selloff has paused ahead of a key inventory report,
and WTI is finding support below $44/barrel, though the mood there remains
bearish.
Daily Market Comment – Marc Chandler
Markets Looking for Next Cue
Brussels Playbook – Politico
Eurogroup’s other job opening — Time for the Spitzenkandidat to die?
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
Bond Selloff Returns As EM Fears Rise; Oil Slides; BOJ Does Not Intervene
Frontrunning – ZH
FX Update – TF
Bond yields in the US remain pegged near the highs for the recent cycle
helping to drive USDJPY higher with the pair now eyeing the next key levels
into 115.00-plus. The Fed’s Brainard is out speaking today and Yellen is set to
testify tomorrow and Thursday before Congress.
FINNISH
Aamukatsaus – Nordea
Tulossa JOLTS-raportti ja pienyrittäjien luottamusindeksi
| Norjan inflaatio odotettua korkeammalla | Saksan korkojen nousu tasaantui
Seitsemän Näkymää Suomelle – ajatuspajojen tulevaisuusvisioita
– SP