Take
Five: World markets themes for the week ahead – Reuters
Key
events in developed markets next week – ING
Next
week is likely to confirm market expectations for US rates are slightly
overblown, ongoing Brexit uncertainty will carry on hurting the UK economy and
sluggish eurozone industrial production doesn’t look like it is coming out of
this phase anytime soon
EcoWeek – BNP
PARIBAS
The
ECB has eased policy slightly, by extending its forward guidance on policy
rates * On the other hand, the conditions on TLTRO III are slightly less
generous than those on the previous operation * Importantly, a discussion has
started within the Governing Council on how to react should
the environment worsen
Week
in Focus – Ransquawk
Week
Ahead
– Nordea
Markets
have told Fed to cut as soon as possible and history suggests that you should
expect the Fed to cave in. The Fed needs to deliver big time to surprise
markets dovishly by now. Meanwhile, Norges Bank will hike in June, despite
global noise.
Weekly
Focus
– Danske
Bank
Macro
Weekly
– ABN
AMRO
We
have shifted to a more negative scenario concerning the trade conflict and its
consequences * Poor German production and trade data in April * Central bankers
are making a statement * My unique experience in Germany
Asia Week Ahead – ING
We'll be watching a raft of economic releases from China and India next week for evidence about GDP growth and the impact of the trade war in the current quarter
China
Weekly
– Danske
Bank
There
is no sign of improvement in the war of attrition between the US and China as
the trade war widens in scope * Chinese PMI data for May is mixed but we expect
more weakness in the short term. There are more signs the trade war is also
starting to hurt US manufacturing.
EMEA LATAM Week Ahead – ING
The
Central Bank of Russia will be in the spotlight next week, with a number of
global and local developments pushing the likely timing of a rate cut to next
Friday. We suspect the Bank will reinforce its dovish guidance, signalling that
further cuts may be on the horizon
Government
bonds weekly
– Danske
Bank
Weekly
Market Comment
– Marc
Chandler
US
Policy Mix Flips and Will Take the Dollar with It
FX
Weekly
– Nordea
Historically
markets have tended to underestimate the magnitude of cuts before the
inauguration of a Fed cutting cycle, why the -100 bp priced in by now may
ultimately prove too little. EURUSD and gold usually gain in months ahead of
Fed's first cut.
Week
ahead
– FT
UK
leadership race, Poland’s Duda visits US, Inditex results