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Monday, April 9

9th Apr - Careful rally as resistances closer

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Explainer - Macron's rail reforms and French union strikesReuters

Italy: No solution yet to political gridlockING
Two days of high-level political talks to try break the impasse after inconclusive Italian elections have brought little success and many actors seem to be in no hurry to find a quick solution

Leonid Bershidsky: Europe Must Learn to Work With Its Autocrats
Hungarian prime minister Viktor Orban may have pushed the boundaries of the acceptable, but he's at home in some mainstream European parties.

Gideon Rachman: Authoritarians on the rotten fringes imperil European valuesFT
Viktor Orban’s victory in Hungary is the latest threat to the EU’s rule of law

When will volatility finally spread?Kevin Muir

BofAML: Risk assets have been struggling because of Fed tighteningZH

Citi: "Fed Policy Is Now Restrictive" A Clear Negative For Stocks

Russian Stocks Take Worst Hit Since Crimea on Sanctions, SyriaBB
Ruble falls most globally; stocks drop most since 2014 *Analysts warn other companies could be next for penalties

U.S. Sanctions Hit Putin Allies, Including Billionaire DeripaskaBB
Treasury also targets dozens of companies, officials, tycoons * Russia vows to retaliate tit-for-tat against ‘unfriendly act’

On the Impact of Structural Reforms on Output and EmploymentIMF

Policy Conflicts and Inflation Targeting: The Role of Credit MarketsIMF
Stabilizing volatility in credit growth often conflicts with price stability: unusual credit expansions often occur when inflation is low relative to goals, and credit slumps often appear when inflation is overshooting.

Price-level targeting to escape the zero lower boundvoxeu
The Global Crisis and Great Recession dealt a blow to inflation targeting as a good monetary policy framework, and several prominent economists and central bankers have suggested that price-level targeting could help in bringing the economy back to normal. This column argues that although a newly established policy regime could well have low initial credibility, this may not be a problem as credibility can improve over time and lead to convergence toward the target equilibrium.    

Among Europe’s Elite, Trump Trade Talk Earns Grudging SupportBB
Economists, investors meet in Cernobbio amid U.S.-China spat * Analysts say Trump’s moves may be negotiating strategy

Macron and Merkel May Find They Can Agree With Trump on China
EU’s most powerful leaders plan trips to Washington this month * Deadline for U.S. waiver on metals tariffs expires on May 1

Monthly Economic update: Trade, Tech & TrumpING
There is a sense that global activity softened a little in 1Q18 with sentiment knocked back by President Trump’s renewed protectionist push. The latest tech-led equity market wobble hasn’t helped either, but the underlying global economic story remains good. While an economically damaging trade war cannot be ruled out, we are hoping calmer heads will prevail and look forward positively to 2Q18

Is anyone playing by the rules of global trade?
Global trade rules are being used and tested in extreme ways. The US and China have acted before due process has taken place, but each are requesting consultations at the WTO to resolve the disputes

FirstFT Daily BriefingFT
Syrian strikes, Deutsche ousts Cryan, post-Castros Cuba

Investors Welcome Deutsche Bank’s CEO Switch, US Dials Down Trade Rhetoric

WSJ EconomicsWSJ
Investors Question Global Growth | No Fed Bailout for Markets | White House Softens Trade Rhetoric

“Best of the web” daily chartsLukas Daalder

Danske DailyDanske Bank

Daily Market Comment Marc Chandler
Asian and European Equities Shrug Off US Decline

Brussels PlaybookPolitico
Fidesz plans for super-majority — Voting irregularities — Europe effects

Five Things You Need to Know to Start Your Day BB

US Open ZH
Global Markets Jump On Hope Trade Tensions Fading, Despite Trump Slamming "STUPID TRADE"


Aamukatsaus Nordea
Viikon talousjulkistuksista tärkeimmät ovat USA:n ja Pohjoismaiden inflaatioluvut | Fedin pöytäkirjat julkaistaan keskiviikkona | Tänään ei saada merkittäviä talousjulkistuksia