Google Analytics

Wednesday, July 5

5th Jul - Mixed FOMC minutes

Follow ‘MoreLiver’ on Twitter

Europe's Smaller But Tougher Migrant Crisis – BB
Barclays giant Brexit chart – ZH
Italy Discusses Euro Exit: Debt Restructuring or “Italeave”? – MishTalk

ECB PSPP update: Longer but less German bonds – Nordea
German PSPP continues to run ‘below par’, biased towards short maturities – Danske Bank
Snap AV: Don’t fear the (ECB) taper – FT
The ECB’s core country taper – ABN AMRO
QE is approaching its Germany limit – FT

Volume of retail trade up by 0.4% in euro area – Eurostat
EU28 current account surplus €58.9 bn – Eurostat
Euro Area Faces Capacity Bottlenecks as Recovery Gathers Pace – BB
Final PMIs signal stronger Q2 growth, retail sales strengthen in May – Daiwa
Russia Services PMI – Markit
Spain Services PMI – Markit
Italy Services PMI – Markit
France Services PMI – Markit
Germany Services PMI – Markit
Eurozone Composite PMI – Markit

Job Market Monitor: June report likely stronger than recent months – Danske Bank
US Factory orders constrained by volatile areas in May – Daiwa

The Two Main Things To Look For In Today's FOMC Minutes – ZH
Fed Minutes May Give Clues on Timing of Balance-Sheet Runoff – BB
June FOMC meeting minutes – FED
Fed Officials Divided on When to Begin Balance-Sheet Unwind – BB
Fed: Equity Prices Are High, Low Volatility A Risk To Financial Stability – ZH
Minutes Show "Divided" Fed Fearful Of High Asset Prices, Low Inflation – ZH
Markets Shrug At Fed Bubble Fears – ZH

Macro Digest: Big changes, or more of the same? – TF
Stock Market Yields Are Higher Than You Think – Ben Carlson
Alberto Gallo: Keep Eye on Sovereign Debt for Next Minsky Moment – BB
SocGen: "Are We Just Prisoners Here, Of Our Own QE?" – ZH
As The S&P 500 Becomes One Giant ETF, BofA Has Four Major Warnings – ZH
Strengthening Global Growth and Building Inclusive Economies – IMF

Japan Services PMI – Markit
China General Services PMI – Markit

Morning Report APACTF
Equities have lost ground in Asia in the wake of the rise in geopolitical tensions over North Korea while gold has firmed. In FX markets the Australian dollar dropped overnight on the less hawkish than expected tone from the RBA.

FirstFT Daily BriefingFT
Missile standoff, Volvo ditches petrol, San Francisco fires

Fed Could Delay Rate Rise, Korea Tensions, The Problem With Bank Stocks

“Best of the web” daily chartsLukas Daalder

Danske DailyDanske Bank

Weaker Chinese PMI, Spanish uncertainty, Fed minutes ahead * The Riksbank drops easing bias
FOMC minutes to push yields up? * Weaker SEK on Riksappointment

Morning MarketsTF
Asian financial markets were unsettled on Wednesday by North Korea's claim on Tuesday that it had fired its first intercontinental ballistic missile which prompted South Korea and the US to conduct joint missile exercises. Gold and the Japanese yen climbed while the US dollar softened against the yen in response to the heightened geopolitical tensions.

From the FloorTF
Geopolitical fears are as elevated as they have been in years with flashpoints in North Korea and Syria throwing relations between the US, China, and Russia into stark relief ahead of the weekend's G20 summit. Fears of global unrest are supporting gold despite a softer yen and higher bond yields.

Daily Market Comment Marc Chandler
Dollar Firm as Investors Await Fresh Directional Cues

Brussels PlaybookPolitico
Estonian yellow pages — Ridiculous EU Parliament — Kamall’s semi-Brexit

Five Things You Need to Know to Start Your Day BB

10 things you need to know before the opening bellBI

Global Stocks Rebound From Korea Jitters; S&P Flat As Fed Minutes Await; Oil Slides

Frontrunning ZH

FX UpdateTF
The US dollar pulled away from its weakest levels in recent days but now faces an important test as we await the release of the FOMC minutes later today for indications of the likely timing of the beginning of quantitative tightening and degree of the Fed's concern about the economy.

Katseet pöytäkirjaan * Fedin pöytäkirja julkaistaan * Tulossa ostopäällikköindeksejä * Öljyn hinta on nousussa