4th Jun - Mild political risk events in horizon

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EUROPE

Leonid Bershidsky: Soros Is Hyping the Existential Threat to Europe – BB

The latest political turmoil is no more cataclysmic than the crises that preceded it.

Ramesh Ponnuru: Italy Needs a Euro Exit Plan. So Do Other Countries – BB

Even if the common currency muddles through for now, it will generate future crises.

Wolfgang Münchau: Lack of European reform, not Italy, will break the eurozone – FT

Stop treating the euro as an article of faith and fight for its sustainability

Le Maire Tells Germany It's Now or Never to Strengthen Eurozone – BB

French minister gives German journalists message for Merkel * Countries set to hold joint ministerial meeting on June 19

«We have to change the system – the Italian crisis makes this clear» - FUW

Paul De Grauwe, professor for economics at the LSE, sees the set-up in the Eurozone as «unsustainable».

Leonid Bershidsky: Merkel Teaches Macron the Art of the Possible – BB

The German chancellor’s response to the Frenchman’s sweeping EU reform proposals isn’t flashy, but at least it’s workable.

At Some Point Germans May Discover That They Are In Deep Trouble – Klaus Kastner

UNITED STATES

June Macro Update: Unemployment Claims at a 49 Year Low – Fat Pitch

The macro data from the past month continues to mostly point to positive growth. On balance, the evidence suggests the imminent onset of a recession is unlikely.

Tim Duy: The Fed Will Soon Switch Off the Autopilot – BB

Two more hikes will put interest rates at just about the bottom end of what is estimated to be a neutral monetary policy.

OTHER

The Myths Of Stocks For The Long Run – Part I – Lance Roberts

BofA Calls It: "The Global Wave Has Just Peaked For Only The Tenth Time In 25 Years" – ZH

G-7 Finance Chiefs Condemn Trump Tariffs as Allies Rebel – BB

France’s Le Maire says EU doesn’t want a trade war with U.S. * U.S. allies protest Trump tariffs on steel and aluminum

EU says first steel safeguard measures could come in July – Reuters

The European Union could impose preliminary measures to safeguard its steel and aluminum industries as early as July, although a full investigation will take nine months, EU Trade Commissioner Cecilia Malmstrom told Reuters on Monday.

Color on Japanese Capital Flows and the Euro – Marc Chandler

The mystery trader who roiled Wall Street – FT

Former Blackstone executive used complex credit derivatives to become a feared hedge fund manager but left behind a trail of recriminations

Goldman: If Trump Wants To Win A Trade War, The Market Has To Crash – ZH

REGULARS

EU Open Rundown – RANsquawk

Market Briefing: Daily Markets Overview – Yardeni Research

FirstFT Daily Briefing – FT

UniCredit-SocGen potential merger, China trade talks, marriage myths

WSJ City – WSJ

Trade Tensions Intensify, Global Growth Story Fades

WSJ Economics – WSJ

U.S. Goes It Alone On Trade, Economy Powers Ahead

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Daily Market Comment – Marc Chandler

Corrective Pressures Weigh on the Dollar

Brussels Playbook – Politico

Merkel’s answer to Macron — Slovenian election — Orbán’s nemesis

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

US Open – ZH

"Glass Half Full" Markets Jump, Ignoring Renewed Global Trade War

Frontrunning – ZH

FINNISH

Aamukatsaus – Nordea

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