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Wednesday, June 19

19th Jun - Fed's dovish tilt #4118

I'm on Twitter.

The Euro Area Falls Short on Fiscal Reform PIIE
Left in the dark, ECB policymakers divided on stimulus options Reuters
Six sources said they had not expected such a strong message [from Draghi] and that there was no consensus on the path ahead.

New ECB call - rate cut and restart of QEDanske Bank

Emperor Draghi’s not naked, the ECB has corporates (and banks) in CSPP2ING
Mario Draghi’s hints at possible new monetary stimulus has got the market thinking: Has he still got the magic, or is he just an emperor trying to dress in new clothes? To us it’s clear: He does have a new tool and the Corporate Sector Purchase Programme 2 could just be around the corner

Martin Sandbu: Europe must find its will to power FT
The bloc could have more geopolitical influence if it only tried

Meet the Mini-BOT: Italy Will Break Up the EurozoneMish

Fed holds rates but signals more dovish outlook FT
Central bank downgrades its description of the health of the US economy

Fed Hints At July Cut As Expected, Drops "Patient" Language, Says "Outlook Uncertainty" Has IncreasedZH

A Dovish, but cautious shift from the FedING
The Fed has opened the door to rate cuts, but it may not be as aggressive as the market expects. For now, we're sticking to our recently revised forecast for rate cuts in September and December, but if the data deteriorates and President Trump and President Xi's meeting next week goes badly, we're open to moving that to July and September

China looks to new policies to boost infrastructure spendingPictet
Activity data in May point to continued weakness in Chinese economic momentum, with growth in both fixed-asset investment and industrial production slowing last month.

The Big Read: How Hong Kong defied Xi JinpingFT
The Chinese leader has been given a ‘bloody nose’ by protesters. How will he react?

Five Things to Start Your Day AsiaBB
Glimmer of Trade Hope * In the Green * Sorry Not Enough * More Crypto * Max Win

Eco Day AsiaBB
Demoting Powell, China's Rainbow Economy, `No One Died' * Bracing for a long trade war, Chang Shu analyzes China outlook * China critic gives an insight on White House: Terms of Trade

Five Things to Start Your Day EuropeBB
Mario’s Salvo * Your Move, Jay * Trump Check * Johnson’s to Lose

EU Open RundownRANsquawk

FirstFT Daily BriefingFT

Brussels BriefingFT
Strictly Come Spitzenkandidaten: Donald Tusk is doing everything he can to engineer a deal this week

Brussels EditionBB

Brussels PlaybookPolitico
Staying hydrated — New Socialist supremo — Passport problems solved

Danske DailyDanske Bank
The Fed set to continue the global easing bias

Eco Day EuropeBB
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 CommentMarc Chandler

Five Things to Start Your Day USBB
Powell’s still here * The meet is on * Tories’ Got Talent * Markets

Global Markets Drift Amid Concerns The Fed May Disappoint

Eco Day USBB
Fed Decision Day, Trump's Currency War, U.K. Inflation * Fed seen holding rates but signaling cut by losing patience * As trade tensions simmer, Trump adds currency wars to the mix

Draghi viesti uudesta elvytyksestä, tekeekö Powell tänään saman? | Trump loi toivoa kauppasodan suhteen sanomalla tapaavansa presidentti Xin G20-kokouksen yhteydessä | Saksan rahoitusmarkkinoiden luottamus laski odotuksia huomattavasti enemmän