14th Jun - Fed and ECB

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EUROPE

Joseph E. Stiglitz: Can the Euro Be Saved? – Project Syndicate 

Across the eurozone, political leaders are entering a state of paralysis: citizens want to remain in the EU, but they also want an end to austerity and the return of prosperity. So long as Germany tells them they can’t have both, there can be only one outcome: more pain, more suffering, more unemployment, and even slower growth.

Federico Fubini: When Populism Comes Home to Roost – Project Syndicate

It remains to be seen if the emergence of a Euroskeptic, anti-establishment government in Italy will pose a threat to the euro and the European Union. But it is already clear that Europe's mainstream politicians bear as much responsibility as Italians for the country's populist wave.

Leonid Bershidsky: On Trade, Merkel Joins Trump on the Low Road – BB

Like the U.S. president, the German chancellor is cherry-picking numbers to buttress a narrative of victimization.

Ferdinando Giugliano: Emmanuel Macron Misses a Chance to Stay Quiet – BB

The dispute with Italy over the Aquarius migrant ship was diplomatically inept and hypocritical.

Different paths for Italian public debt – Pictet

  EUROPEAN CENTRAL BANK
ECB to End Bond Buying in December in Watershed for Stimulus – BB

Bond purchases end in December, rates unchanged until Summer 2019 – ZH
Introductory statement to the press conference – ECB

Eurosystem staff macroeconomic projections – ECB
ECB Cuts 2018 GDP Forecast, Raises Inflation Outlook – ZH

Euro Craters After Hawkish ECB – Marc Chandler

Draghi Ends ECB Bond-Buying Era Saying Economy Can Beat Risks – BB
Taper without tantrum – Nordea

ECB: Solomonic end to QE -  ING

ECB: The anticipated end of QE – ING

The euro sell-off after the ECB: All a bit much? – ING
Marcus Ashworth: Mario Draghi Offers Something for Everyone – BB

What Was Hit Hardest By the Dovish ECB? Not the Euro – WSJ
Rate guidance is now the ECB’s key policy tool – ABN AMRO

ECB: the end of constructive ambiguity – Pictet

Mario Draghi Might Never Get to Raise Rates at the ECB – BB

ECB calls time on €2.4tn bond-buying programme – FT

UNITED STATES

  FEDERAL RESERVE

Federal Reserve issues FOMC statement – FED

FOMC Projections materials – FED

Fed meeting confirms our forecast for tightening – Pictet

FOMC: A Small, but Notable, Shift in the Dots – Daiwa

FOMC Hikes Rates As Expected, Signals Two More Rate Hikes In 2018 – ZH

FOMC Signals Two Hikes in H2, Sends Greenback Higher – Marc Chandler

Fed hikes by 25bp, signals two more hikes this year and three next year – Nordea

Four hikes more likely after removal of soft wordings – Danske Bank

Fed hikes - puts a glossy spin on the economy – ING
Federal Reserve sticks to the plan, despite global risks – ING

OTHER

What if Central Banks are not the Main Reason Rates are Low? – Marc Chandler

Pompeo says North Korea sanctions to remain until complete denuclearization – Reuters

REGULARS

EU Open Rundown – RANsquawk

Market Briefing: Daily Markets Overview – Yardeni Research

FirstFT Daily Briefing – FT

Comcast’s big bid, Pompeo in Asia, Westminster’s victims

WSJ City – WSJ

Comcast Joins the Hunt for Fox, QE Decision Time for the ECB

WSJ Economics – WSJ

The Fed Raises Rates, the White House Eyes More Tariffs on China

Danske Daily – Danske Bank

Daily Market Comment – Marc Chandler

Dollar Punished Ahead of ECB

Brussels Playbook – Politico

In European Parliament we trust — Is he having a gaffe? — Jourová talks tough

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

US Open – ZH

Exhausted Traders Prepare For This Week's Final Surprise From Mario Draghi

FINNISH

Aamukatsaus – Nordea

Päättääkö EKP tänään kokouksessaan arvopaperien osto-ohjelman päättämisestä? | Fed nosti korkoaan odotetusti ja liikkui haukkamaisempaan suuntaan | Tänään luvassa Ruotsin ja Suomen inflaatiolukuja, jalkapallon MM-kisat alkavat