Roundups &
Commentary
Frontrunning – ZH
Overnight: Bizarro Time As Better Data Sends Stocks Lower – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Daily press summary – Open Europe
Grillo: Italy should have a referendum next year on euro and EU
membership
Morning MoneyBeat – WSJ
Markets Trying to Stabilize Despite Official Rattle – Marc
to Market
Morning Briefing
(EU/US): Forever Blowing Bubbles – BNY
Mellon
Yesterday's price action answered a number of
questions we posed just two weeks ago.
EUROPE
The Commission utterly fails to address flaws
in the financial transaction tax
– Open
Europe
"If you had kept
quiet, you would have remained a philosopher" -
German Ifo Sentiment Rises for First Time Since
February – BB
Ifo improvement leaves big picture unchanged – TradingFloor
The slight increase
seen in German May IFO sentiment is obviously a positive, but taking a longer
view it should be noted that only expectations have notably improved.
ASIA
The deeper agenda behind 'Abenomics' – Reuters
Prime Minister Shinzo
Abe is riding a wave of popularity, spurred by voters' hopes that his
prescription for fixing Japan's economy will end two decades of stagnation.
But interviews with some two dozen allies and insiders show
"Abenomics" was a late addition to his platform. Full Article
Japanese Prime
Minister Shinzo Abe is making amending the pacifist, U.S.-drafted constitution
one focus of his ruling party's campaign for July's upper house election. He
hopes pro-revision parties will obtain the two-thirds majority that would pave
the way for the first-ever revision to the 1947 charter.
Market turbulence poses first serious test for
Abenomics – Reuters
This week's turbulence
in Tokyo markets exposes a key risk of Prime Minister
Shinzo Abe's all-in strategy to revive Japan's economy - if investor confidence falters,
the government and the Bank of Japan may be left with few options to turn the
tide.
Kuroda hasn’t got the
hang of the Jedi thing yet – alphaville /
FT
OTHER
Weekly Credit Update – Danske
Bank (pdf)