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EUROPE
Italy’s debts to European Central Bank near
€500bn – FT
Investors scrutinise
eurozone imbalances as they await new government’s budget
BRITAIN
Brexit Ministers Davis, Baker & Braverman Quit In Blow To Theresa May – ZH
Brexit Ministers Davis, Baker & Braverman Quit In Blow To Theresa May – ZH
How
does a leadership challenge to a UK prime minister work? – Reuters
GBP: May’s Brexit
Chequer-mate
– ING
Brexit
Secretary David Davis' resignation has sparked fears of a UK political
'crisis'. Such fears are not reflected in the price of sterling; what
matters for financial markets is the type of Brexit delivered, not necessarily
who delivers it
UK government in
turmoil, what now for Brexit? – ING
Having
agreed a plan with her government, Theresa May has been rocked by the
resignation of Brexit Secretary David Davis and now her Foreign Secretary,
Boris Johnson. We take a look at what this means and what might happen next in
the Brexit process
May vows to stay
put after Johnson quits – FT
Foreign
secretary follows Davis out of cabinet over Brexit plan
UNITED STATES
After Years of
Easing, Meet Quantitative Tightening: QuickTake – BB
OTHER
What an Ambitious
NATO Summit Could Achieve – BB
Sadly,
it’s unlikely to happen. But it’s a useful thought experiment.
El-Erian: A
“Reagan Moment” for International Trade? – Project
Syndicate
In
the 1980s, US President Ronald Reagan initiated a military spending race with
the Soviet Union that ended up altering the global balance of power in ways
that affected many countries worldwide. Could Donald Trump's tariff race with
China lead to a similar outcome?
JULY ECONOMIC UPDATE
Global Outlook:
Trump’s Trade Gamble
– ING
Uncertainty
from President Trump's economic pronouncements could be more dangerous for the
global economy than the direct impact on trade
Eurozone: The ECB
takes it slowly
– ING
After
a strong 2017, political instability and trade tensions within the eurozone are
pointing towards more moderate growth rates for 2018
FX: Evaluating the
scenarios
– ING
Japan's
activity indicators have slipped from 'good' to 'mediocre', but its unclear if
this downtrend will continue
FX: Evaluating the
scenarios
– ING
This
July could prove to be a testing month for FX markets, given the rise in trade
tensions
Rates: Just 30bp, seriously? – ING
This
July, rates remain under wraps due to dollar strength, geopolitics and a
resistance by central banks to hike rates
China: The
retaliation cycle
– ING
A
tit-for-tat trade war will hurt China's economic growth in the second quarter
and will put pressure on the yuan
REGULARS
EU Open Rundown – RANsquawk
FirstFT Daily
Briefing
– FT
Mr
Brexit quits, novichok death, office jerks
WSJ City – WSJ
UK
Brexit Minister Resigns, NATO Leaders Brace for Tense Summit
WSJ Economics – WSJ
As
Tariffs Bite, Who Are the Winners and Losers?
Danske Daily – Danske
Bank
Daily Market
Comment
– Marc
Chandler
Possibility
of a Soft Brexit Excites Sterling (too Early?)
Brussels Playbook – Politico
Seehofer
in trouble — Brexit resignations — Orbán’s dirty campaign
Five Things You
Need to Know to Start Your Day – BB
US Open – ZH
Global
Stocks Jump As Trade Fears Set Aside; China Soars, Dollar Slides
Brexit-ministeri David Davis erosi virastaan
erimielisyyksien johdosta | USA:sta, Ruotsista ja Norjasta saadaan
inflaatiolukuja tällä viikolla | Keskiviikosta torstaihin järjestettävä
NATO-kokous huomion keskipisteenä