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Tuesday, June 12

11th Jun - Italian relief




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EUROPE
How Europe works – Eric Lonergan

Italian Bond Yields Plunge Most In 6 Years, Banks Soar As Tria Endorses Euro – ZH

Marcus Ashworth: Italian Bonds Rejoice in Statement of the Obvious
– BB
A technocrat’s commitment to the euro is just what the short end wants to hear.

  EUROPEAN CENTRAL BANK
ECB preview: Praet’s pivot pirouette – ING
Despite growing uncertainties around the strength of the eurozone recovery, little underlying inflationary pressure and possible further market turmoil, the ECB seems determined to demonstrate its focus on long-term trends. After Praet's remarkable speech, we expect a very exciting meeting on 14 June

Italy Hit By Biggest Depositor Run Since 2012 – ZH

When is a trillion euro not a trillion euro? – Handelsblatt
Fear of Italy leaving the euro has driven Germany’s surplus with the European Central Bank to a record €956 billion. But economists say this surplus could vanish overnight if a real crisis hit.


UNITED STATES
Leonid Bershidsky: Trump’s Leadership Isn’t Just About Tantrums – BB
His inconvenient tactics at the G-7 and beyond are not necessarily irrational.


OTHER
G7 summit: a step closer towards a real trade war – ING
Last minute emotions prevent reconciliation and there's little time left to get trade negotiations back on track

FX Strategy – Danske Bank
EUR/USD lower for longer - but not forever

Monthly Economic Update: A long, hot summer – ING
The next few weeks present a number of political challenges that could upset global economic growth and financial market confidence. President Trump continues to ratchet up the rhetoric on trade as he aims to squeeze maximum concessions from Europe and China, but he risks pushing too far as retaliation measures escalate. At the same time European politics will remain in the headlines as Brexit talks go in circles and Italy potentially tests the EU’s patience.


REGULARS
EU Open Rundown – RANsquawk

Market Briefing: Daily Markets Overview – Yardeni Research

FirstFT Daily Briefing – FT
G7 chaos, Band’s Visit wins big, predicting World Cup victors

WSJ City – WSJ
US Escalates Trade Clash With Allies, Trump Set for High-Stakes Kim Summit

WSJ Economics – WSJ
From Trump and Kim to the Fed and Inflation, It’s a Packed Week

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Daily Market Comment – Marc Chandler
Limited Immediate Impact from Quebec

Brussels Playbook – Politico
The story behind that G7 photo — Juncker the ‘killer’ — Conte me out

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

US Open – ZH
Futures Flat As Nervous Traders Hunker Down For "The Week From Hell"

Frontrunning – ZH


FINNISH
Aamukatsaus – Nordea
EKP:n ja Fedin kokoukset tapahtumatäyteisen viikon huippukohtia | Tänään luvassa Norjan inflaatioluvut, myöhemmin viikolla vuorossa Ruotsi, USA ja Iso-Britannia | G7-huippukokous päättyi sekaviin tunnelmiin