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Friday, May 31

31st May - Plunge on trade war #4103

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Ferdinando Giugliano: Italy Has a Bigger Problem Than Nasty Letters From BrusselsBB
This week’s Commission letter is a bit of a sideshow. The country’s dwindling credibility with international investors is far more damaging.

ECB Is Down One Deflation-Fighting Revolutionary as Praet LeavesBB
Top economist Peter Praet hands over to Philip Lane on May 31 * Belgian national was a creative force behind stimulus programs

Mark Gongloff: Maybe the Economy Won’t Re-Elect Trump After All BB
Several indicators are moving in the wrong direction.

Trump Steps Into a Mexican LabyrinthBB
The cost of unwinding complex, multilayered supply chains is a murky question. What’s certain is that U.S. consumers will pay the heaviest price.

Today’s U.S.-China Clash Began at Tiananmen SquareBB
Ever since the massacre, Beijing has pushed authoritarianism at home and abroad.

China manufacturing PMI shrankING
China's manufacturing PMI fell from last month's expansion to contraction. Will this become a trend? Is this a result of the trade or technology war? What role does infrastructure play in manufacturing activity? Will China use the yuan to boost manufacturing-related exports?

Brahma Chellaney: China’s Tiananmen Reckoning Project Syndicate
The 30th anniversary of the Tiananmen Square massacre is a reminder that the free ride China has enjoyed internationally in recent decades is ending. It should also serve as a warning to the Communist Party that its continued reliance on brute power to keep China’s citizens in line could eventually leave it on the ash heap of history.

China threatens to blacklist foreign companiesFT
Country to launch ‘non-reliable entity’ list in escalation in trade dispute

Beijing Threatens To Blacklist "Unreliable" US CompaniesZH

Trump’s tariff threat on Mexico rattles global marketsFT
US president warns of levies on imports unless border ‘crisis’ is resolved

Wall Street Responds To Trump's Shock Tariff AnnouncementZH

Five Things to Start Your Day AsiaBB

Eco Day AsiaBB
Clarida Sets Easing Scenario, New Cold War, U.S. GDP * Goldman sees Argentina and Turkey as risk to global currencies * What trade war? Africa sidesteps tariffs, eyes free-trade pact

Five Things to Start Your Day EuropeBB

EU Open RundownRANsquawk

FirstFT Daily BriefingFT

Brussels EditionBB

Brussels PlaybookPolitico
Bierlein over troubled waters — Merkel vs. Trump — Orbán goes goodwill hunting

Eco Day EuropeBB
Trump's Mexico Salvo, China's PMI Shock, Praet Departs * China’s factory employment gauge at lowest level since 2009 * White House says tariff action is separate from new Nafta

Daily Market CommentMarc Chandler
US Struggles to Build Physical Wall, Tries Tariff Wall on Mexico

Five Things to Start Your Day USBB

US Open RundownRANsquawk

US Open ZH
Global Markets Routed After Trump Tariff Bombshell, Bund Yields Crater To Record Low

Eco Day USBB
Mexico’s Tariff Hit, Italy’s Latest Debt Fight and MMT * Trump to impose tariff of up to 25% on Mexico over immigration * Mexico tariffs risk U.S. economic turmoil ahead of 2020 vote

Meksikon tuontiin Yhdysvaltoihin asetetaan 5 prosentin tuontivero painostuskeinona laitonta maahanmuuttoa vastaan | Onko USA:n heikko inflaatio väliaikaista? | Kiinan virallinen ostopäällikköindeksi laskussa