5th Jun - EU Open

Updates coming up late today (other commitments, sorry)

Previously on MoreLiver’s:

Tuesday US Close (more Greco-Finnish madness)

Tuesday US Open

Tuesday EU Open

Weekender: Weekly Support

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Roundups

News roundup – Between The Hedges

The 6am Cut London – alphaville / FT

Emerging Markets Headlines – beyondbrics / FT

Asia Morning MoneyBeat: Stocks Drop a Streak By the Wayside – WSJ

Europe Morning MoneyBeat: Hawkish Fed Worries To Weigh On Stocks – WSJ

MORNING BRIEFINGS

3 Numbers To Watch: EU Retail, US ADP Employment, US ISM Services – TradingFloor

The trading day brings updates on EU retail sales for April. For the US, May numbers for the ADP Employment Report and the ISM Non-Manufacturing Index are scheduled for release.

Market Preview: Heavy European and US economic calendar ahead – TradingFloor

European markets are expected to lower Wednesday. Investors are keeping an eye on today's EU GDP and services PMI across Europe. Also, a slew of US macro data later today will garner market attention to decode the future policy moves of the US Fed.

Danske Daily – Danske Bank (pdf)

Aamukatsaus – Nordea

USA:n ulkomaankauppaluvuista pientä piristystä * Eläköön euro! * Odotukset elvytyksen jatkumisesta nostivat korkoja

Aamukatsaus – Tapiola (pdf)

Eurooppalaisten osakesektori-ETF:ien pääomavirtojen seuranta osoittaa, että kiinnostus syklisiin sektoreihin palautui hieman toukokuussa. Pääomia keräsivät etenkin rakennus- ja autoteollisuus. Osakemarkkinat jälleen paineessa, FED:n rahapoliittisen elvytyksen odotetaan supistuvan.

Tänään julkaistaan USA:n perjantain työllisyysraporttia ennakoiva yksityinen ADP:n työmarkkinaraportti. Osakefutuurit miinuksella, indikoiden laskuavausta OMX HEX:iin.

Markkinakalenteri – Nordnet

Markkinakalenteri – Taloussanomat

EUROPE

Is the euro a foreign currency to member states? – voxeu.org

Spain and Britain have similar debt problems. So why does Spain face far higher sovereign-interest rates? Is this only about Eurozone membership? This column argues that Eurozone membership does not fully explain this discrepancy and that, in fact, it is central banks which cannot provide an effective backstop to national debt that are the root cause of high sovereign-interest rates. Eurozone members are more vulnerable to debt crises to the extent that the ECB cannot count on the joint support of national fiscal authorities.

The urgent need to recapitalise Europe’s banks – voxeu.org

Europe has been postponing the recapitalisation of its banking sector. This column argues that it has been doing so for far too long. Without such a recapitalisation, the danger is that economic stagnation will continue for a long period, thereby putting Europe on a course towards Japanese-style inertia and the proliferation of zombie banks.

Focus Germany: The brave new world of monetary policy – Deutsche Bank

OTHER

Should We Trust Economists? – The Atlantic

They're fractious, frequently wrong, and have lost much of the public's faith. But their insights are still valuable -- as long as you don't expect them to predict the future.

FINNISH

Kolme tietäjää – Kemppinen

Mielipiteeni ja arvioni on, että demareiden vakuusoperaatio oli ja on tarpeetonta pelleilyä ja viime kädessä vaalikalastusta ilman koukkua ja matoa. Ehkä se jotakuta vakuuttaa, että on onki ja siima. Minua se ei vakuuta.