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
Sudden
Selling Panic Sends Stocks Reeling On Dollar's Best Week Since Lehman
Succinct
summation of week’s events – The Big Picture
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
Global
Economy Week Ahead – Reuters
Weighing
the Week Ahead – A Dash of Insight
Global Week
Ahead – BB
Europe’s Week Ahead: – WSJ
Weekly
Market Outlook – Moody’s
Weekly
Focus – Danske
Bank
US Q1 GDP to be revised lower * EZ monetary
data and two ECB speeches * UK parliament opening * Japan April
CPI
Strategy – Danske
Bank
The euro
area recovery is taking a breather as boost from oil fades * US recovery is imminent * Tentative signs
of bottoming in China * Moderate gains in stocks in coming
months * Bond yields heading higher as Fed hike draws closer * EUR/USD to go
lower
Macro
Weekly – Will the global economy gain momentum? – ABN
AMRO
2015 is
shaping up to be another year of more negative global growth surprises than
positive ones. Financial market participants and policymakers have to ask how
bad it really is. I would suggest to be patient. Global growth is perhaps not
great, it is not a disaster either. And we continue to believe that growth will
pick up. The picture that is likely to emerge in the course of the year is
actually a relatively benign one with improving growth, modest inflation and
central banks determined not to rock the boat.
Week
Ahead – Nordea
Next week
is likely to rule out an end-May solution between Greece and its creditors as plenty of
points of disagreement remain. The US offers second tier data, likely
including a contraction in Q1 GDP. In the UK on the other hand, we expect to see
an upward revision of Q1 GDP. In the Nordics, Sweden and Denmark present first estimates of Q1 GDP and in Norway labour market data is released.
STOCKS
Weekly
Market Summary – The
Fat Pitch
The S&P
index is making new highs. The trend is higher. But in the process, the trading
range has become very tight. In the past, this has been followed by higher
volatility and limited near term upside for equities.
CREDIT
Euro
rates update – Nordea
Euro
Rates Weekly – ABN
AMRO
The ECB
announced it will frontload and possibly backload purchases to counteract
seasonal patterns * This marks a shift as the ECB is now willing to adjust the
pace of its purchases to market conditions * The tweaks will lead to inter
temporal shifts and possibly lower volatility in the Summer…but overall
scarcity dynamics will remain unchanged * The changes will result in even more
negative net adjusted flow in June and September * We expect NCBs to focus
their frontloading on the short end of the curve, which could bias 2s10s to
steepen
Fixed
Income Convictions
– ABN
AMRO
Covered
bonds lost relative value versus government bonds…following recent sell-off in
the sovereign market * This is reminiscent to what happened after the ECB
announced CBPP3 * But also unsustainable in our view * ECB will stick to its QE
plan (and target) which should support government bonds * Resulting in an
outperformance versus covered bonds * Therefore, we now favour long-dated
(semi) core government bonds over covered bonds and agencies
FOREX
FX
Outlook – Marc
Chandler
Dollar
Bulls Retake the Whip Hand
FX 4
Next Week: How to play the fading pound – TF
GBP's move looks overextended and in a relatively quiet data week this
could favour consolidation. Elsewhere, Greece has repercussions for USDCHF call options;
there is potential for EURJPY and AUD downside; and could USDJPY finally make a
move higher after months on the sidelines?
G10 FX
Weekly – ABN
AMRO
ECB’s
Coeure comments weigh on the euro * US dollar profits from improvement in
investor sentiment and weakness elsewhere * We expect EUR/USD to drop below
parity between the third and the fourth quarter of this year
EM FX
Weekly – ABN
AMRO
Stronger dollar
weighed on EM currencies * Weak Polish data hurt on zloty, while Turkish lira
strengthens due to ongoing ‘stealth’ tightening * Some adjustment in Asian FX
forecasts
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