31st Jul - Bearish start for the week

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EUROPE

Europe’s Eastern Rebels Expose Next Fault Line for EU Leaders – BB

An Angry, "Irritated" Italy Loses Patience With Macron Over Migrants, Libya – ZH

Draghi Pledged ‘Whatever It Takes.’ It Took 1.2 Trillion Euros – BB

A new database for financial crises in European countries – ECB

Tim Worstall: Draghi's Stimulus Problem - Eurozone Inflation Static – Forbes

UNITED STATES

Koch Brothers Move to Back White House’s Tax-Cut Plan – BB

US Fiscal Policy – Marc Chandler

OTHER

Macro Monday: Heavy week ahead – TF

Holiday recap: while you were away – Nordea
JPM: "Investors Are Starting To Hedge Against A Crash" – ZH

Rates: The silent ECB measure awakens – Nordea

In The Coming Week: Payrolls, Central Banks, China And More – ZH

Gary Shilling: Six Things Central Bankers Don't Get About Wages – BB

China Summer Recap: Resilient growth and rising tensions with US – Danske Bank

REGULARS

Morning Report APAC – TF

Firmer prices for crude will be seen as a positive factor in Asian markets today. Stocks have gained ground in early trading in Sydney and Hong Kong but slipped into negative territory in Tokyo and Seoul.

FirstFT Daily Briefing – FT

MUFG makes Brexit plans, Pimco’s ‘remarkable turnaround’ and how to demand equal pay

WSJ City – WSJ

HSBC Plans Share Buyback, Europe’s Banks Show Green Shoots

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Eye-Opener – Nordea

Big data week in the US. Today Euro-area inflation * SEK rallied after GDP report, but it’s not a game-changer * Strong German inflation not enough to keep EUR-rates materially higher

Morning Markets – TF

Chinese data showed some ups and downs Monday but with the country's non-manufacturing PMI climbing to 62.5 for July its highest level since December 2013 iron ore prices shot higher taking the Australian materials sector with them.

From the Floor – TF

"Inflation," says Saxo Bank fixed income trader Michael Boye, "is the only thing holding the European Central Bank back from tightening policy."

Daily Market Comment – Marc Chandler

Monday morning blues

Brussels Playbook – Politico

France’s new Gaullism — Commission acts on Poland

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

Global Stocks Rise On "Growth Optimism", Ignore Political Turmoil; Dollar, Oil Creep Higher

Frontrunning – ZH

FINNISH

Aamukatsaus – Nordea

Tänään julkaistaan euroalueen inflaatioluvut | Ruotsin toisen neljänneksen BKT-raportti oli todella vahva | USA:sta saadaan tällä viikolla runsaasti talousdataa