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Thursday, July 11

11th Jul - Also ECB's dovishness confirmed #4134


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EUROPE
Mervyn Allister King: Europe Must Learn From the Greek Tragedy
BB
The task facing Greece’s new government is harder than it needed to be, and Europe is partly to blame.

Europe must learn to expect the unexpectedFT
Increasing political fragmentation makes coherent EU policymaking even harder

EU top jobs: Restarting the Franco-German motorING
In the battle for the European Union's top jobs, France and Germany have come out on top. But there may be a price to pay

How Germany Finds a Leader If Angela Merkel Steps Down EarlyBB
Here is a blueprint for how Merkel’s succession as chancellor could take place.


  EUROPEAN CENTRAL BANK
Account of the monetary policy meeting ECB

Account reveals heightened concerns about inflation ABN AMRO
The majority of the Governing Council stands firmly behind the President

The minutes support the easing expectationsNordea
The ECB minutes continued to prepare a ground for further easing. However, Coeuré played down the role of market-based inflation expectations which supports the view that they will not hurry. We continue to expect a new easing package in September.

How long can the ECB talk the talk without walking the walk?ING
Minutes of the June meeting stress the European Central Bank's determination to deliver more

ECB ‘ready and prepared’ to ease policy amid rising uncertaintyFT
Policymakers discussed fresh bond buying and lower rates at June meeting


OTHER
What is behind the US-France tech company tax fight?FT
Digital executives fear ratcheting up of transatlantic trade tensions

Donald Trump Throws a Tax Bomb at Emmanuel MacronBB
The White House is using France’s digital tax in an attempt to divide and rule in the EU. It’s a big test of whether Europe’s leaders will stand by Paris.


REGULARS
Five Things to Start Your Day AsiaBB

Eco Day AsiaBB
Powell Flags Cut, U.S. Defies China, Korea-Japan Woes * Merkel under pressure on health over renewed trembling episode * China is winning a silent war to dominate South China Sea

Five Things to Start Your Day EuropeBB

EU Open RundownRANsquawk

FirstFT Daily BriefingFT

Brussels BriefingFT
The 16 German SPD members of the European Parliament are set to reject Ursula von der Leyen when MEPs vote on her nomination next week

Brussels EditionBB

Brussels PlaybookPolitico
Verdict on von der Leyen — Cordon sanitaire lives — Governments vs. good Samaritans

Danske DailyDanske Bank
ECB minutes from the June - markets will look out for clues in the minutes on how ready the GC stands in announcing immediate steps already at the 25 July meeting. We still lean towards an announcement of an easing package coming in September

Daily Market CommentMarc Chandler
Powell Spurs Equity and Bond Market Rally, While the Greenback Falls Out of Favor

Five Things to Start Your Day USBB

US Open RundownRANsquawk

US OpenZH
S&P Futures Above 3,000 After Powell "Gives Traders License To Buy Everything"

Eco Day USBB
Powell Flags Cut, French Tax Probe, No Rate-Cut Panacea * Why a capex slowdown won’t trigger a recession in the U.S. * BOE Governor Carney sidesteps query on interest in IMF role



FINNISH
AamukatsausNordea
Fedin pöytäkirjat ja Powellin lausunto vahvistivat odotuksia heinäkuun lopun koronlaskulle | Kevyempää rahapolitiikkaa odottavat sijoittajat nostivat osakemarkkinoita USA:ssa | USA:n ja Ruotsin kesäkuun inflaatioluvut julkaistaan tänään