Here are
the links to the weekly roundups, reviews and also previews of the beginning
week. Last week's 'Support' here.
This post will be updated as new
material is published.
Previously
on MoreLiver’s:
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LAST WEEK
Weekly
Scoreboard – Between
The Hedges
Friday’s
Price Monitor – Global
Macro Monitor
Buying-Panic
Sends Nasdaq Green On The Week Amid Europe's 2nd Best Day In 4 Years
NEXT WEEK
US
Schedule for Week –
Bill
McBride
Economic
Calendar – Berenberg
Economic
Calendar – Handelsbanken
World Week
Ahead – WSJ
Global
Central Banks Calendar – WSJ
Week Ahead
– ZH
5 Things
to Watch on the Economic Calendar – WSJ
Wall St
Week Ahead – Reuters
Wage
increases in focus ahead of retail earnings
Global
Economy Week Ahead – Reuters
Forecasts
at a glance – Berenberg
Global:
Cheap oil, supportive central banks, but some emerging markets look shaky * US:
Solid
fundamentals, strong dollar hurts a little; 2.5% growth in 2015 * China: No hard landing, growth slowing gradually
to 6.7% in 2016 * Japan: Artificial stimulus has faded,
future hinges on reforms * Eurozone: Periphery firming, core rebounding but
Russian/Greek risks * UK: Pro-business government re-elected
– recovery continues
Weighing
the Week Ahead – A Dash of Insight
EU Week
Ahead: Eurozone, Eurogroup,
Migration – WSJ
Weekly
Market Outlook – Moody’s
Weekly
Focus – Danske
Bank
Focus on Greece, euro group meeting
on Monday. Summer crunch time as
the real deadline * GDP growth in the euro area of 0.5% q/q in Q1 * An increase
in core retail
sales in the US. A
stronger pace of
private consumption is key to our outlook for US growth this year * Unlikely
to be any surprises at UK MPC meeting, but look out for the new Inflation
Report and minutes from the meeting * Chinese industrial production still to
suggest GDP growth below 7% y/y.
Week
Ahead – Nordea
The
Eurogroup meeting on Monday is unlikely to lead to an agreement between Greece and its creditors, but there should
be money enough for the IMF payment due on Tuesday. We expect Euro-area GDP to have grown by 0.4% q/q in Q1, up
from 0.3% in Q4. In the US second tier data is delivered with
retail sales being the most important. The BoE is expected to leave policy on
hold at its May MPC meeting, still waiting for wages to pick up. In the Nordics
as well as in China, inflation is on the agenda.
Macro
Weekly – Shock adjustment – ABN AMRO
Financial
markets have shown violent moves during the last two weeks or so. And these
moves have, to a large extent, been in tandem. Bond yields have risen sharply,
particularly in Europe, the euro has strengthened and equities have sold off (especially in Europe). To be frank, I did not see this
coming, so I can offer only post-mortem commentary. Such dramatic moves demand
a verdict. Is this just a temporary correction or is it the beginning of a much
longer and bigger move in markets? Taking economic fundamentals as my lead, I
conclude that it is most likely temporary, although that does not necessarily
mean that we will see a rebound in all markets concerned in the near future. Meanwhile,
interpreting economic data is also becoming something of a challenge. How, for
example, do disappointing US growth numbers and a steadily strengthening labour
market add up? Well, they don’t, really.
STOCKS
Weekly
Market Summary – The
Fat Pitch
Concerns: technicals,
sentiment, possibly valuation. Not concerns: macro, corporate results
CREDIT
Euro
rates update – Nordea
Euro
Rates Weekly – Bund blowout halted – ABN
AMRO
After the
selloff, the rates market is licking its wounds and trying to get its footing
back * Market sentiment has changed but we still think that speculation on an
QE exit is premature * The violent market correction suggests that eurozone QE
has become a textbook QE case * We see room for a bounce back in the short term
and see value in 2s5s of core bond markets * We expect that volatility and
lower liquidity will continue to rock the market
Euro
Corporate Weekly – Meltdown of total returns – ABN
AMRO
Correction
in Bunds crushed total returns in credit * Total return for Non-Financials
senior went back to square one * Total returns of AA and A rated credit paper
dive into negative territory * Credit spreads remained very resilient amid
market turmoil * With a beat:miss ratio of 5:3, results remain better than
expected
FOREX
FX
Outlook – Marc
Chandler
The
Dollar's Downside Momentum Stalled, but Does it Presage a Recovery?
G10 FX
Weekly – Dollar recovery ahead – ABN AMRO
Government
bond developments support the euro…while the US dollar sell-off continues * Conservative
win boosts sterling
EM FX
Weekly – Mixed performance – ABN AMRO
Asian
currencies fail to profit from dollar weakness * Monetary policy in Eastern Europe remains supportive
FX 4
Next Week: No direction home – TF
US nonfarm payrolls report gives
little clarity * GBP rallying on decisive election win for the Tories * NZD weakness
expected to continue * Norges Bank declines to cut rates, boosting NOK
CALENDARS
Economic
Calendar – investing.com
Economic
Calendar – BB
EU calendar – europa.eu
Markkinakalenteri
– Nordnet
Global
Central Banks Calendar – WSJ
Central
Bank Release Calendar – Daily FX