10th Jun - US Open

Previously on MoreLiver’s:

Monday EU Open: German court week

Weekender: Linkfest

Special: US Payrolls

Weekender: Weekly Support

Weekender: Best of the Week

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Roundups & Commentary

Frontrunning – ZH

Overnight: India Enters Currency Wars, Usual PenNikkeiStock Japan – ZH

The Lunch Wrap – alphaville / FT

Emerging N.Y. headlines – beyondbrics / FT

Daily press summary – Open Europe

  The German Constitutional Court a growing battleground in the eurozone crisis?; ECB denies claims that its bond-buying programme will be subject to limits

Morning MoneyBeat: The Rally’s Next Chapter – WSJ

Morning Bond Update – TradingFloor

Yen and Australian Dollar Tumble, Other Majors Little Changed – Marc to Market

Morning Briefing (EU/US) – BNY Mellon

  Revisiting the basis for a concerted recovery in the performance of the USD

EUROPE

What to expect from the German Constitutional Court hearing on OMT this week – Nordea

As this is a hearing, no ruling or decision is to be expected from the court this week. That will only come in late summer or autumn. Given that the court gave a (provisional and conditional but still a) green light to the ESM and the Fiscal Pact on 12 September 2012, it would be a huge surprise (and shock) if they stopped the OMT. The event risk appears small but is surely skewed to the negative side.

ECB in court – MacroScope / Reuters

Research Euroland: Fact Book Austria – Danske Bank (pdf)

EU Week Ahead: June 10 -15 – WSJ

A lot of the action in the Brussels bubble this week takes place outside of Brussels, including a Friday meeting of trade ministers that will discuss the EU's fight with China over solar panels,

ASIA

No good news from China – Nordea

May data from China suggest continued weak growth in Q2, but a significant worsening seems unlikely. The large drop in trade data is likely a result of disappeared data manipulation.

China data: little fire in the numbers before Dragon Boat Races – beyondbrics / FT

China Credit Slowdown Raises Concerns – WSJ

New rules to reduce risk in China’s financial sector and clamp down on illegal capital flows last month took some of the heat out of what had been a torrid year for borrowing. But amid worries that a slowdown in lending could be risky as the economy also slows, some  are asking why lending had been so strong to begin with.

China's economy stumbles in May, growth seen sliding in Q2 – Reuters

Risks are rising that China's economic growth will slide further in the second quarter after weekend data showed unexpected weakness in May trade and domestic activity struggling to pick up.

Monitor: Japanese investor flows – Danske Bank (pdf)

The weekly data show that Japanese investors have been net sellers of foreign bonds over the past three weeks

OTHER

The bear case for equities – Humble Student

Mystery chart leads to FX mystery – Humble Student

Confusion: High Public Debt Levels and Other Sources of Risk in Today’s Macroeconomic Environment – Brad DeLong

The fact that we are here makes me fear that much of what I thought seven years ago was just completely wrong.

Key Events And Market Issues In The Coming Week – ZH

FINNISH

Merkel pelaa kovaa sisäpoliittista peliä – Verkkouutiset

Saksan hallituskoalitio on irtaantumassa tiukasta talouskuripolitiikasta Etelä-Euroopan kriisimaiden kohdalla ja suunnittelee niille saksalaista erityisapuohjelmaa maan kehityspankin (KfW) avustuksella. Saksa saattaa olla pian valmis myöntämään suoraa taloudellista tukea kriisimaille ja sisällyttämään uusia takauksia valtion budjettiin.

"Poliittisista syistä" – Juhani Huopainen / Suomen Perusta / US Puheenvuoro

Teollisuuden uudet tilaukset vähenivät huhtikuussa 2,0% vuoden takaisesta – Tilastokeskus

Teollisuustuotanto väheni huhtikuussa 9,7% vuoden takaisesta – Tilastokeskus

Tehdyn työtunnin kustannus nousi tammi-maaliskuussa 4,1% – Tilastokeskus

Palkkasumma kasvoi helmi-huhtikuussa 1,7% vuoden takaisesta – Tilastokeskus

Eurooppa töihin - mutta miten? – Hannu Visti