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Thursday, May 31

31st May - Tariffs against EU, Italy's government


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EUROPE


  EUROPEAN CENTRAL BANK
Italy turmoil gives Draghi dilemma over ECB action –
FT
Central bank hawks want to keep plan to end QE but market jitters could force rethink

The ECB Is Turning 20, But It Can’t Shake Teenage Angst – BB
Euro area’s recurrent financial stress reflects systemic flaws * Italy is the latest threat to the currency bloc’s survival

Euro area annual inflation up to 1.9% -
Eurostat
Eurozone inflation rebounds – ABN AMRO
Euro area inflation close to ECB target in May – Pictet
Euro-Area Inflation Picks Up to Fastest in More Than a Year – BB

  SPAIN
Rajoy on the Brink After Party Graft Convictions: Spain Update – BB
Socialist chief Pedro Sanchez set to become Spain's Prime Minister – Reuters
What Spain’s Socialists Want in Pushing Out Rajoy – BB

  ITALY
Three Reasons Why The Italian Panic Is Fading Fast (For Now) –
ZH

Italy’s President Asks Populists: Call Me When You’re Ready –
BB
Head of state puts premier-designate Cottarelli on standby * Five Star, League leaders float a series of trial balloons

Italy, the ESB and Europe’s Populist Fantasyland –
Daniel Lacalle

Why Italy Needs a Euro Exit Plan – Barron’s
Every euro country should have one. But Italy’s President seems to think his country should be deliberately unprepared for future crises.

Mark Gilbert: Italy Ain't Over Till the Bond Vigilantes Sing – BB
They're more worried about a spending free-for-all than Italy leaving the EU.

Italy Populists Surge to Power in Challenge to Europe – BB
Economist Tria named finance minister in new government * Euroskeptic economist Savona named for European affairs

Conte Reveals New Italian Government – ZH

Italy's anti-establishment leaders revive governing coalition – Reuters

UNITED STATES
  TARIFFS
U.S. to impose tariffs on EU steel, aluminum: sources – Reuters
EU Braces for Trump Broadside as Steel Tariff Deadline Looms – BB
Trump Imposes Steel, Aluminum Tariffs On EU, Canada And Mexico – ZH
EU Rages At "Unacceptable" US Tariffs, Vows Retaliation "In Coming Hours" – ZH
EU to Strike Back Against Trump With Levies on Harleys, Bourbon – BB
What Do Steel Tariffs Have to Do With Iran? Plenty – BB
German carmakers hit by report Trump threatens to drive them off U.S. streets – Reuters


OTHER
Six Weeks that Could Shake the World – Marc Chandler

China In One Page – Danske Bank
IMF positive on reforms and growth outlook

OECD Economic Outlook – OECD

Mary Meeker Internet Trends 2018 – Kleiner Perkins


REGULARS
Market Briefing: Daily Markets Overview – Yardeni Research

FirstFT Daily Briefing – FT
Volcker rule changes, Ross rebuffs EU, saving Russian football

WSJ City – WSJ
U.S. Plans to Hit Europe With Tariffs, Fed Backs Easing Volcker Rule

WSJ Economics – WSJ
The U.S. Moves Closer to a Trade War With Allies

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Daily Market Comment – Marc Chandler
Don't Confuse Calmer Markets with Resolution

Brussels Playbook – Politico
Italy crunch time — Tariffs ahoy — Summer reading

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

US Open – ZH
Markets On Edge As All Eyes Turn To Spain And Rajoy's No-Confidence Vote

Frontrunning – ZH


FINNISH
Aamukatsaus – Nordea
Suomesta saadaan BKT-luvut | Odotamme euroalueen toukokuun inflaatiolukujen olevan vahvoja | Italian korot selvässä laskussa, Saksan korot nousussa