18th Jun - ECB's dovish surprise #4117

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EUROPE

  EUROPEAN CENTRAL BANK

Euro, Bund Yields Slide, Stocks Rebound As Draghi Clears Way For More Stimulus – ZH

Draghi leaves little doubt about policy easing – ABN AMRO

Ferdinando Giugliano: Mario Draghi Has Spotted the Real Problem: Europe’s Politicians – BB

The ECB chief has promised again to do whatever it takes, but he’s right to be exasperated by the euro zone’s failure to set up a proper common budget.

Trump hits out at Draghi over fresh stimulus signal – FT

Euro falls after ECB bond-buying hint triggers US accusation of currency manipulation

               

Bad Loans Still Too High at Eurozone Banks, ECB Warns – Wolf Street

NPLs remain dangerously to catastrophically high in Italy, Greece, Portugal, and Cyprus.

ECB Watch: Draghi will do whatever is left – Nordea

Draghi’s message in Sintra was clear: the ECB stands ready to adjust all its instruments, and even come up with new ones, if the economic outlook does not improve. The tool box is not empty but finding effective stimulus measures will be hard.

ECB: Mario strikes again – ING

ECB president Draghi moves financial markets again, opening the door wide for new monetary stimulus

ECB Rate Cut Is Weapon of Choice as Draghi Threatens Action – BB

Officials said to see rates rather than QE as initial tool * Fed interest-rate cut could also become trigger for ECB action

UNITED STATES

Mark Gongloff: The Fed Will Make Somebody Unhappy This Week – BB

Expectations are impossibly high, from markets to the White House.

OTHER

The Yuan and Tariffs – Marc Chandler

Consensus thinking sees two levers.  One is the US tariff, and the other is the weakness of the Chinese yuan

  LIBRA

Facebook unveils global digital coin called Libra – FT

Facebook Introduces New "Libra" Digital Currency With Landmark White Paper – ZH

Will Facebook’s Libra shake up financial services? – FT

Facebook’s Libra is here. Should you Like it? – ING

Facebook’s Libra Wanders Into the Bitcoin Bear Trap – BB

Facebook Wants Its Cryptocurrency to One Day Rival the Greenback – BB

REGULARS

Five Things to Start Your Day Asia – BB

U.S. Meddling * Tech Leads * Blacklist Implications * What’s in a Name? * Most Populous

Five Things to Start Your Day Europe – BB

Policy Path * Oil Drivers * Paris Moxy * Tory Field

EU Open Rundown – RANsquawk

FirstFT Daily Briefing – FT

Brussels Briefing – FT

‘Romanian Macron’ favourite to lead new EU force: In the absence of a French candidate, Dacian Ciolos has the president’s backing

Brussels Edition – BB

Brussels Playbook – Politico

Top dogs for top jobs — Juncker’s sausages — Bye bye Bullmann

Danske Daily – Danske Bank

Eco Day Europe – BB

Merkel’s ECB Pitch, China Slowdown, Doves Fly Higher * World’s No. 2 economy had a bad run of hard, soft data in May * Australia, Brazil could see more interest-rate cuts soon

Daily Market Comment – Marc Chandler

Draghi Ends Calm Ahead of FOMC, Sending the Euro and Yields Down

Five Things to Start Your Day US – BB

Central bank-fest * Facebook vs. Bitcoin * Simmering * Plane talking * Markets

US Open Rundown – RANsquawk

US Open – ZH

Draghi Unleashes Global Chaos With Preview Of More Stimulus, Prompts Angry Response From Trump

Eco Day US – BB

Powell Bets, Recession Watch, Central Banks Take Stage * Powell’s concern over zero rates seen lowering bar for Fed cut * BOJ, Fed, BOE all meet in important week for central banks

FINNISH

Aamukatsaus – Nordea

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