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Friday, April 13

13th Apr - Still green but losing momentum

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Hard data proves soft in the euro areaPictet
Signs of a certain loss of momentum may well fuel additional ECB dovishness in the near term, but is unlikely to compromise upcoming policy normalisation.

Liquidity of solvent member states more important than fiscal stabilizationvoxeu
Vesa Vihriälä: The smooth functioning of the EMU requires risk sharing. This column, which joins VoxEU's Euro Area Reform debate, argues, however, that its best use is not in the support of fiscal expansion in recession countries, but in ensuring the liquidity of solvent sovereigns under market pressure. Giving the ESM/EMF access to central bank financing should be explored as a means to facilitate it.

Leonid Bershidsky: Orban's Economic Model Is Trump's DreamBB
Hungary's prime minister keeps winning elections thanks to his unorthodox policies in favor of the victims of globalization.

Deutsche Bank: America's Future No Longer "Looks Sustainable In A Market Context" ZH

Lousy European Data Mean It's Time to Buy Stocks, for Citigroup BB
Economic-surprise index has fallen to lowest since 2012 * Previous drops have preceded positive returns for stocks: Citi

The Global Trading Map Looks Really Confusing Right NowBB
Volatility and correlation measures are sending vexing signals * The dollar has decoupled from once reliable risk-off behavior

Goldman Sachs:  "This Is the Largest And Fastest Correlation Change On Record Outside Of 1987"ZH

Who's Driving The Mysterious Swiss Franc Slump?ZH

El-Erian: China Has Much to Gain by Resolving Trade Issues With U.S.BB
Reducing barriers and adhering to intellectual-property norms would accelerate a push for greater global responsibilities.

Editorial: Grilling Zuckerberg Doesn't Fix Facebook BB
The company's travails highlight a central tension of the digital economy.

Fiscal Rules: Make them Easy to Love and Hard to Cheat IMF

Second-Generation Fiscal Rules : Balancing Simplicity, Flexibility, and EnforceabilityIMF

 FirstFT Daily Briefing FT
Syria strikes loom, TPP returns, Trump tapes

U.S. Plans to Escalate Trade Pressure on China, LSE Names Goldman Banker CEO

WSJ EconomicsWSJ
Trump Sees Trade Strategy Working | More Pressure on China | Record Streak for U.S. Jobless Claims

“Best of the web” daily chartsLukas Daalder

Danske DailyDanske Bank

Daily Market CommentMarc Chandler
Markets Struggle to Find Footing while News Stream Improves

Brussels PlaybookPolitico
Ireland first — Why Germany needs Belgium — Mad world

Five Things You Need to Know to Start Your DayBB

Global Stocks Levitate As Trade And Hot War Fears Recede