Euro-area outlook:
Down for the count
– Nordea
The
outlook has continued to deteriorate. While a modest pick-up in growth later
this year still looks possible, the extended weakness means the ECB is unlikely
to be able to raise rates in 2020 either. The focus will be on further easing
measures.
The
ECB will not be able to provide stimulus in the next downturn, so a boost will
have to cme from fiscal policy.
Germany’s search
for a new diplomatic map – FT
The
core ideas that have sustained foreign policy for decades are under attack from
rising nationalism
Spanish Elections: Business as usual – Danske Bank
On
Sunday, Spanish voters will head to the polls for the fourth time in eight years.
Eurozone consumer
confidence drop reinforces lacklustre start to 2Q – ING
EUROPEAN CENTRAL BANK
Race
to succeed Draghi throws up fresh stimulus ideas from leading candidates
ECB Stock
Purchases Could Be Euro Zone’s Bold Move – BB
BlackRock’s
Rick Rieder makes a compelling case for switching focus from debt to equity,
but it underscores a fundamental struggle within the region.
Exploring the
factors behind the 2018 widening in euro area corporate bond spreads – ECB
Fiscal rules in
the euro area and lessons from other monetary unions – ECB
UNITED STATES
Modest Thoughts on
Central Bank Independence – Marc
Chandler
OTHER
Practitioner’s
guide to MMT
– Kevin Muir
Fundamental Trends and Dislocated Markets: An Integrated Approach to Global Macro Investing – AQR
A
systematic strategy focused on identifying fundamental trends and an
opportunistic strategy capitalizing on extreme dislocations between prices and
fundamentals
Fuel
prices rise as China, India and Japan among nations pressured to find other
sources
REGULARS
Five Things to
Start Your Day Asia
– BB
Eco Day Asia – BB
Goldman
Clips Fed, China Eyes Horizon, Weak Asian Trade * Trump’s Iran crackdown isn’t
stopping aid to Hamas, Hezbollah * Hong Kong property scion doesn’t own a
house, inherits nothing
Five Things to
Start Your Day Europe – BB
EU Open Rundown – RANsquawk
FirstFT Daily
Briefing
– FT
Brussels Playbook – Politico
Weber’s
12 promises — Notre Dame’s conspiracy wildfire — European Left speaks up
Danske Daily – Danske
Bank
Oil
surge to set post-Easter market agenda
Eco Day Europe – BB
No
Rate Relief From Coeure, Disinflation Stalks Sweden * Donald Trump shelves plan
to nominate Herman Cain to Fed * Chinese markets drop as investors see signs of
stimulus pause
Daily Market
Comment
– Marc
Chandler
Oil
Extends Gains While Markets Await Fresh Incentives
Five Things to
Start Your Day US
– BB
US Open Rundown – RANsquawk
US Open – ZH
Stocks
Sputter As Oil Surge Continues
Eco Day US – BB
Fed
Bubble Risk, Forecasting Edge, Trade-War Analogies * Fed seems resigned to
bubble risk in effort to extend growth * Trump’s top economist sees trade wars
like battling scurvy
FINNISH
Aamukatsaus – Nordea
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