The
German experience suggests gun control and tough laws on hate speech only goes
so far.
Italy’s
Trump Is All Bark and No Bite – BB
Salvini
has secured new powers targeting migrants but failed to deliver on his populist
economic agenda.
UNITED STATES
President
Trump and the Fed - we’ve changed our view – ING
President
Trump is ratcheting up the pressure on the Fed to support his efforts on
extracting concessions from China on trade. Policymakers appear reluctant, but
market moves and other central bank actions look set to give them a nudge. This
is why we think it looks increasingly likely that the Fed will step in with two
25bp cuts in September and December
Trade
and the Fed
– John Cochrane
Fed
should ease on demand shocks, not on supply shocks
The
Fed’s Job Is to Protect the Economy, Even From Trump – BB
The
bank has to cut rates not to support the president’s policies but to contain
their damage.
OTHER
Yes,
the Dollar is Above CNY7.0, but No, the Sky is Not Falling – Marc
Chandler
Trump
Sets Trap for China, Steps in It – BB
His
escalations make it harder for Xi to cut a face-saving deal.
REGULARS
Five
Things to Start Your Day Asia – BB
Eco
Day Asia
– BB
U.S.
Intervention, China Reassures on Yuan, Trump vs Xi * India and Philippines
likely to cut rates as Thailand waits * Three Gorges has nothing on
China-backed dam to power Africa
Five
Things to Start Your Day Europe – BB
EU
Open Rundown
– RANsquawk
FirstFT
Daily Briefing
– FT
Brussels
Playbook
– Politico
Migration
red flag — What France wants — Sticking it to the Dutch
Danske
Daily
– Danske
Bank
Eco
Day Europe
– BB
Few
Lessons for U.K., German Pain, RBNZ's Steep Cut * No easy way to cushion the
U.K. economy in no-deal Brexit * New Zealand shocks with 50bps cut, Asian peers
may also ease
Daily
Market Comment
– Marc
Chandler
Three
Asian Central Banks Surprise Investors
Five
Things to Start Your Day US – BB
US
Open Rundown
– RANsquawk
Eco
Day US
– BB
Recession
Risk, Trump’s Big Bet, Policy Surprises * World economy edges closer to
recession as trade fears spiral * Central banks shock with cuts in global race
to the bottom
FINNISH
Aamukatsaus – Nordea
Uuden-Seelannin
keskuspankki (RBNZ) yllätti agressiivisella 50 korkopisteen laskulla | Ruotsin
yrityssektorin tuotanto supistui 0,2 prosenttia kesäkuussa | Tänään julkaistaan
kesäkuun teollisuustuotannon luvut Saksasta