Roundups &
Commentary
Frontrunning – ZH
The Lunch Wrap – alphaville
/ FT
Daily press summary – Open Europe
Merkel’s intervention on returning powers
from Brussels comes after meeting with reform minded Tory MPs; Mats Persson:
Merkel sees the UK as key to ensuring EU really works for trade and
entrepreneurship
Morning MoneyBeat: As Rally Stalls, Weakness Brews – WSJ
US Dollar Softer, but Going Nowhere Quickly – Marc
to Market
EUROPE
Daniel Gros: If the
purpose of austerity in Europe was to reduce public-debt levels, its critics
are right: fiscal belt-tightening has clearly failed, because debt/GDP ratios
continue to rise. But the goal of austerity was not just to stabilize debt
ratios.
Merkel backs plans to claw back EU powers – euobserver
UNITED STATES
Yellen Beats Summers as Most Likely Fed Chair
in Poll – BB
OTHER
Yield Forecast Update – Danske
Bank (pdf)
Central banks to keep
rates low with data improving
FX Forecast Update – Danske
Bank (pdf)
More GBP, USD, SEK
strength in store
Insights Q3 Outlook: Plain sailing – TradingFloor
Tapering may have
caused equities some pain in the second quarter, but the market was quick to
factor in a likely end to quantitative easing. But fears of another shock to
the system, at least from this angle, look groundless.
Insights Q3 Outlook: More of the same – TradingFloor
US fiscal drag will
remain sizeable in the second half of this year and will keep growth lower than
developments in the private sector suggest,
Insights Q3 Outlook: QE to infinity and back – TradingFloor
With the US Federal
Reserve’s quantitative easing bonanza coming to an end, it’s time to face a new
reality
Insights Q3 Outlook: Waiting for reality to hit – TradingFloor
The third quarter is
looking good for assets, but it will also mark the end of the
extend-and-pretend mentality
Insights Q3 Outlook: The calm before the storm – TradingFloor
The next few months
should offer gold and silver some respite after a torrid first half of the
year. Oil, meanwhile, is still a safe bet although any expectation that WTI
crude will re-establish its historical premium over Brent looks fanciful.
FINNISH
Urpilainen:
Viennin elpyminen vaatii kilpailukyvyn parantamista – HS
Teollisuuden ja kansantalouden haasteena on
sopeutua rakennemuutokseen: meidän on kyettävä parantamaan vientimme
hintakilpailukykyä ja samalla ohjaamaan voimavaroja uusille, kasvaville
aloille, kirjoittaa valtiovarainministeri Jutta Urpilainen HS:n
Vieraskynä-palstalla.
Ilmarisen
talousjohtaja: “Suomen valtiontalous on euroalueen vahvin” – Revalvaatio
Maksutase kesäkuussa 2013 – Suomen
Pankki
Teollisuuden liikevaihto supistui
maalis-toukokuussa vajaat 6% YoY – Tilastokeskus
Palvelualojen liikevaihto kasvoi
maalis-toukokuussa 1,3% YoY – Tilastokeskus