EUROPE
Editorial:
Can This Woman Tame Europe’s Game of Thrones? – FT
Ursula
von der Leyen needs to reform the European Commission. She should start with
the process that put her in charge.
Wolfgang
Münchau: Europe’s centrists should be wary of von der Leyen – FT
A
weak commission president might suit the far-right but could not long command a
majority
Big
Read: European Investment Bank: the EU’s hidden giant – FT
Clearer
purpose sought for one of the world’s biggest and most peculiar banks
Lagarde set to inherit Draghi’s
counsellors at ECB –
FT
Key
figures behind the scenes will help incoming president to shape monetary policy
Leonid
Bershidsky: Populist Voters Don’t Mind Putin’s Help – BB
Matteo
Salvini and other populist leaders are learning that Russian “interference” may
not be a vote-killer.
UNITED STATES
Trump
leads while Democratic front runners emerge – ING
President
Trump's re-election odds are strengthening but a second term is far from
certain.
Is
the Fed too focused on corporates? – Pictet
Fed’s
leading priority now is to help sustain the US business cycle, hence the
concept of ‘insurance’ rate cuts put forward by Fed chairman Jerome Powell,
with some echoes of Alan Greenspan’s philosophy in the 1990s. Low Fed interest
rates tend to percolate quickly down to the corporate sector.
OTHER
China’s
economy grows at slowest rate in nearly 30 years – FT
US
tariffs having ‘major effect’ on companies ‘wanting to leave China’, says Trump
Why
China Can’t Get Its Economy Moving – BB
Weak
growth numbers are a sign that the most efficient companies still aren’t
getting the kind of credit they need to expand.
China
View: Uncertainty persists – Nordea
China's
GDP growth slowed to 6.2% in Q2 2019. Although a soft landing continues to be the
most likely scenario for the Chinese economy, the uncertainty around the trade
war is high. We have not seen much progress since the G20 meeting.
REGULARS
Five
Things to Start Your Day Asia – BB
Eco
Day Asia
– BB
Fed
Cut Depth, China’s Struggles, Central Bank Arsenals * Unprepared U.K. is facing
highest risk of recession since 2007 * Party mood wobbles in Saudi markets as
$20 billion wave crests
Five
Things to Start Your Day Europe – BB
EU
Open Rundown
– RANsquawk
FirstFT
Daily Briefing
– FT
Brussels
Briefing
– FT
The
German nominee needs at least 374 votes to be approved as European Commission
president
Brussels
Edition
– BB
Brussels
Playbook
– Politico
All
eyes on VDL — A very German scandal — French fraudbuster bid
Danske
Daily
– Danske
Bank
A
speech by Fed's William (voter, neutral) ahead of the crucial Fed meeting at
the end of July
Eco
Day Europe
– BB
China
Slowdown, Currency W4ar Risk, Germany Growth * Bloomberg Economics sees
below-consensus Germany growth * U.K. recession risk is at more than a decade
high: think tank
Daily
Market Comment
– Marc
Chandler
Marking
Time on Monday
US
Open Rundown
– RANsquawk
US
Open
– ZH
Global
Stocks Rise, S&P Pushes Above 3,000 As Earnings Season Begins
FINNISH
Aamukatsaus – Nordea
Kiinan talous kasvoi 6,2 prosenttia vuositasolla toisella neljänneksellä,
mikä on matalin lukema pitkään aikaan | Viikko starttaa USA:n alueellisella
teollisuuden luottamusluvulla | Perjantai päätti viikon vahvasti USA:ssa ja
heikommin Euroopassa