EUROPE
Number
of jobless Germans climbs most in a decade
EU leaders agree
to pick new 'Mr or Ms Europe' next month – Reuters
EU fires first
shot in possible new clash over Italy debt – Reuters
EU Confirms Italy
Risks Massive Fine Over Debt – ZH
EUROPEAN CENTRAL BANK
Negative
ECB rates are a boon for euro zone banks, says de Guindos – Reuters
Super
low rates are a boon for banks rather than a hindrance, ECB Vice President de
Guindos said, setting the tone for a debate on whether lenders should be
compensated.
Rehn says ECB
ready to react if slowdown persists – Reuters
The
system could be more vulnerable to financial contagion through long-term
interbank exposures than noted in other studies. That said, common exposures to
the real economy – a standard contagion channel in the literature – represent a
potential source of individual bank distress and non-systemic events.
barring
a severe economic downturn, even under a scenario of moderate economic growth a
gradual build-up of cyclically adjustable buffers could be considered to help
create the necessary macroprudential space and to reduce the procyclicality of
the financial system in an economic and financial downturn.
UNITED STATES
Mueller says he
could not charge Trump as Congress weighs impeachment – Reuters
Mueller
said his investigation into Russia's interference in the 2016 election was
never going to end with criminal charges against Trump and indicated it was up
to Congress to decide if it should impeach Trump.
Mueller says charging Trump was ‘not an option’ – FT
Special
counsel signals Congress has responsibility for holding president to account
Mueller Has a
Parting Gift for Trump: No More Surprises – BB
The
special counsel has nothing more to say, which is a promise or a threat,
depending on your view of the president.
Mueller’s Remarks
Put the Onus on Congress. So What Next? – BB
Lawmakers
have a responsibility to act on the special counsel’s evidence of foreign
interference in the 2016 election. Impeachment isn't the only option.
US Threatens Europe
With "Loss Of Access To US Financial System" Over SWIFT-Evading Iran
SPV
– ZH
OTHER
Martin Wolf: States
create useful money, but abuse it – FT
To
the extent modern monetary theory is true, it is unoriginal; to the extent it
is original, it is false
Morgan Stanley on
yield curve collapse: much worse than you think – ZH
REGULARS
China
Avoids Currency Manipulator Label * Trade Angst Spreads * Singapore Leapfrogs
Hong Kong, U.S * Amazon’s Mom & Pop Purge * Succession in Shambles
China
Dodges FX Tag, Sentiment Slumps, RBA Seen at 0.5% * New Zealand budget in disarray
as hackers raid Treasury system * Canadian insiders see BOE’s Carney as Justin
Trudeau successor
Down
Again * Euro Zone Confusion * Face Off * Dollar’s Run
Who’s
up and who’s down in the EU top jobs race: EU leaders emerge from post-election
summit with no certainty over who will prevail
Summit
to talk about — The Spitz is alive — Merkel stands by Weber
US
curve flattens again and the recession fear is once again out of the bottle
China
Dodges FX Tag, Fed Departures, RBA Seen at 0.5% * Treasury expands currency
watchlist to nine, from six nations * China’s economy weakened in May amid
renewed trade woes
Daily Market
Comment
– Marc
Chandler
Equity
Slump Deepens while Yields Plunge
Five Things to
Start Your Day US –
BB
US Open Rundown – RANsquawk
US Open – ZH
Markets
Tumble, S&P Below 2,800, Bond Yields Crater As Traders Brace For Impact
Eco Day US – BB
China
Dodges Currency Tag, Canada Decision, USMCA Trip * Treasury expands
foreign-exchange watchlist to nine nations * China gears up to weaponize rare
earths in its trade war
FINNISH
Suomen ensimmäisen neljänneksen kasvuluvut olivat
pettymys, myös Ruotsin BKT-luvut julkaistaan tänään | USA:ssa ja euroalueella
kuluttajien luottamus oli nousussa toukokuussa | Kauppasotauhitteluun jälleen
lisää kierroksia