EUROPE
Leonid Bershidsky:
Europe’s Right Is Making a Noise. But Can It Win an Election? – BB
It
generates a lot of traffic on social media. But translating that into victories
in next month’s European parliamentary election will be harder.
ECB Members Voiced
Concern About Side Effects of Low Rates – BB
Central
bank publishes account of March 6-7 policy meeting * Some officials proposed
extending rate guidance to 1Q 2020
Germany: No green
shoots
– ING
Awful
new order data suggests that German industry is still suffering from Brexit
woes and global uncertainties
Italian Stocks
Slide As Italy Slashes 2019 Growth Forecast – ZH
Zombie firms, weak banks, and restructuring – voxeu
Europe’s
productivity problem is partly due to the rise of zombie firms that crowd out
growth opportunities for others. This column explores the tendency for weak
banks to evergreen loans to zombie firms to avoid realising losses on their
balance sheet. Measures to strengthen bank balance sheets will be enhanced by
insolvency regimes that encourage corporate restructuring.
UNITED STATES
Big Read: Has the
yield curve predicted the next US downturn? – FT
Some
believe that an inversion of the markets’ original ‘fear gauge’ is not a
predictor but a cause of recessions
OTHER
Local fiscal
multipliers and fiscal spillovers in the US – voxeu
The
strength of fiscal multipliers and spillovers have been the subject of intense
debate in recent years. Using data on US Department of Defense contracts and
income and employment outcomes, this column finds evidence of strong positive spillovers across locations
and industries, although the geographical spillovers appear to dissipate fairly
quickly with distance. Both backward linkages and general equilibrium effects
contribute to the positive spillovers.
REGULARS
Five Things to
Start Your Day Asia
– BB
Five Things to
Start Your Day Europe – BB
EU Open Rundown – RANsquawk
FirstFT Daily
Briefing
– FT
Brussels Briefing – FT
EU
grapples with Greece off the leash - In the absence of financial market
pressure, how can the EU make Athens play ball?
Brussels Edition – BB
China’s
Hidden Network
Brussels Playbook – Politico
Taking
on China — Romania cringe — Hope you like the Eurostar dining car
Danske Daily – Danske
Bank
Eco Day Europe – BB
Carney
on Brexit, Putin Pressure, Trade Talks Progress * Romania’s retail sales are
widening current account deficit * Little signs of progress for Britain in
bridging pay gap
Daily Market
Comment
– Marc
Chandler
Limited
Price Action Does not Do Justice to Macro Developments
Five Things to
Start Your Day US –
BB
US Open Rundown – RANsquawk
US Open – ZH
Global
Markets Flatline Ahead Of He-Trump Meeting, US Jobs Report
Eco Day US – BB
Ugly
U.S. Jobs, Central Banks Hit Pause, Trump and Liu * Patience is golden from central
bankers taking to the sideline * Trade talks seen near final stage before
crunch meeting
FINNISH
Aamukatsaus – Nordea
Tänään julkaisuvuorossa EKP:n pöytäkirja | USA:n
palveluiden luottamus putosi odotuksia enemmän | Brittiparlamentti hyväksyi
ehdotuksen, jonka mukaan Mayn on pyydettävä brexitin lykkäämistä
Jan von Gerich: Voiko EKP sittenkin vielä laskea korkoa? – Nordea
EKP:n ensimmäisen koronnoston ajankohtaa on arvuuteltu jo
useamman vuoden, mutta talousnäkymien heikennyttyä entistä mielenkiintoisempi
kysymys on se, voisiko EKP vielä laskea korkoa. Jos talousnäkymät heikkenevät
lisää, jotain täytyy tehdä.
Taloudellinen katsaus, kevät 2019 – VM
VM: Kasvu hidastuu alle prosenttiin, työllisyysaste jää
73,3 prosenttiin – IS
VM: Nousukauden talouskasvu on ohi – IL