23rd May - EZ PMI dissappoints

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EUROPE

Leonid Bershidsky: Italy’s Populist Government May Not Bring Doom – BB

A proposed flat tax could work. It did for Eastern European nationalists.

Italy Without the Euro Would Not Be Argentina or Turkey—It Would Be the U.K – Barron’s

Convergence Report – ECB

  PMI
Flash Eurozone Composite PMI – Markit

Flash Germany Composite PMI – Markit

Flash France Composite PMI – Markit

PMIs point to downside risk to near term euro area growth – Pictet

UNITED STATES

Editorial: Trump Blinks on China Tariffs. That's a Start – BB

Some of his critics need reminding that trade war isn’t in anyone’s interest.

Dodd-Frank Misdirection Hides a Pressure Point – BB

Focus on big banks masks growing risk in commercial lending for smaller ones.

Flash US Composite PMI – Markit

  FEDERAL RESERVE
Minutes – FED
Inside the Fed’s May Meeting: The Annotated Minutes – BB

Fed Sees Next Hike Soon, Signals Modest Inflation Overshoot OK – BB

OTHER

Should We Fear the Robot Revolution? (The Correct Answer is Yes) – IMF

'Global Synchronous Recovery' Narrative Crushed As US, EU PMIs Diverge – ZH

Why ‘Risk On’ and ‘Risk Off’ Are How the Markets Roll – BB

REGULARS

EU Open Rundown – RANsquawk

Market Briefing: Daily Markets Overview – Yardeni Research

FirstFT Daily Briefing – FT

Summit snag, Trump’s UK tee-off, Malaysia’s monumental task

WSJ City – WSJ

Investors Eye Bumpy Ride in Italy, U.S. Set to Roll Back Postcrisis Regulation

WSJ Economics – WSJ

Congress Pushes Back On Trump’s China Deal

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Daily Market Comment – Marc Chandler

Dollar and Yen Surge, European Data Disappoints

Brussels Playbook – Politico

Sorry day — Tale of 3 Contes — French billionaire wins wine war

Five Things You Need to Know to Start Your Day – BB

US Open – ZH

Global Stocks, US Futures Slammed By Quartet Of Risks

Frontrunning – ZH

FINNISH

Blogi: Italia voi kaataa veneen – Nordea

Italiassa valtaan nousevan populistihallituksen potentiaalia heiluttaa koko euroaluetta ei pidä aliarvioida. On vaikea nähdä, että tilanne voisi laueta ilman jonkinlaista kriisiytymistä. Euroalueen kriisinsietokyky pääseekin pian uuteen testiin.