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EUROPE
SPAIN ARTICLE IV / IMF
Spain:
Selected Issues – IMF
Spain:
Maintaining the Strong Growth Momentum – IMF
Q2 GDP
Euro-Area
Fragility Shown as Germany, France Fall Short – BB
Italian
Economy Grew Less Than Forecast in Second Quarter – BB
Euro
zone grows less than expected in second quarter – Reuters
Eurozone
recovery undershoots expectations – FT
German
growth - strong without being impressive – Carsten Brzeski
GDP
growth became even more modest in Q2 – Handelsbanken
Disappointing
0.3 % growth in second quarter – Nordea
Eurozone
recovery loses momentum – ABN AMRO
5
Takeaways From Eurozone GDP – WSJ
European
GDP All "Big Three" Economies Miss Expectations – ZH
The
euro-zone recovery is losing momentum – The
Economist
GREECE
Greek
MPs approve €85bn bailout plan – FT
Greek
Lawmakers Approve €86 Billion Rescue Package – BB
Tsipras
wins bailout vote, faces widening rebellion – Reuters
Brussels
backs IMF over Greek debt relief – FT
IMF:
Lagarde eyes new act in Greek drama – FT
Greece
faces new elections amid Syriza splits – Open
Europe
Finland’s
Stubb: ‘I’ve Never Seen Risks Like That in Negotiations’ – WSJ
Euro
ministers set to launch Greek bailout, wooing IMF on debt – Reuters
UNITED STATES
Great Graphic: Fed
Expectations--Surveys and Markets – Marc
Chandler
DATA
Producer
Prices Rise More Than Expected – ZH
Industrial
Production Rises Most Since November After Significant Downward Revisions – ZH
Industrial
output jumps as auto production surges – Reuters
Factory
Production in U.S. Gains on Stronger Auto Assembly – BB
UMich
Consumer Sentiment Slips – ZH
REGULARS
Morning MoneyBeat Asia – WSJ
U.S. Stocks Close Flat
Morning MoneyBeat Europe – WSJ
Slowing Eurozone Growth Does Little
to Dent Stocks
Morning MoneyBeat US – WSJ
Amid China Woes, Rate-Sensitive
Stocks Still Shine
Danske Daily – Danske
Bank
Global Daily – ABN
AMRO
US retail sales
accelerated in July, boosting rate hike expectations * After adjusting USD-CNY
fixing for the third day in a row, China acts to ease devaluation fears * Global
investor sentiment looks to be entering calmer waters
Euro rates update – Nordea
Eye-Opener – Nordea
PBoC revalues CNY * Greek MPs debate
* USD on the back-foot * Euro-area GDP growth likely remained solid in Q2
Morning Markets – TF
Greece is back on the
agenda today after a long and rancorous parliamentary debate in Athens
overnight on its draft €85bn rescue package, during which the prime minister,
Alexis Tsipras, declared the measures "would send the country back into
crisis". Meanwhile, data released earlier this morning show tepid growth
in Germany and stagnation in France
Daily FX Comment – Marc
Chandler
Five Things to Know
before the Weekend
Daily Shot – TF
Low oil price and strong
USD have a huge impact on emerging markets. In the US imports get cheaper while
the incentive to produce anything in the US diminishes.
Daily Press Summary – Open
Europe
Greek Parliament approves third
bailout package but large Syriza rebellion could mean fresh elections soon * France
and Germany fall short of growth expectations in second quarter of the year * ECB
sees downside risk to Eurozone growth from China and other external factors * New
Polish President: We do not want to be NATO’s buffer zone * Refugee caravan
hits fence in Hungary as record number of migrants enter Greece in July * Google
given until end of August to respond to EU competition probe * Russia extends
food import ban to several non-EU countries
Brussels Playbook – Politico
Greek grind — Google
extension — Uber euphoria
US Open – ZH
Stock Futures Lower
Despite Overnight Calm In Ongoing Currency Wars
FX Update – TF
Currency traders are
struggling for reasons to trade the major currencies as the summer doldrums
have settled over the market despite the CNY devaluation. Still, SEK and NZD
are on the move and the Turkish lira dipped to another record low on political
uncertainty.
From the Floor – TF
WTI is once again
banging on the door of $40/barrel after hitting a new six-year low overnight.
This could end up in the low $30s/b before we get a recovery.
FINNISH
Aamukatsaus – Nordea
Vientinäkymät Venäjälle pysyvät surkeina * Suomen BKT
supistui toisella neljänneksellä * USA:sta kohtuulliset vähittäismyyntiluvut *
Ruotsin heinäkuun inflaatio keskuspankin ennusteen yläpuolella * EURUSD päätti
kuuden päivän nousuputken
Pitäisikö eurosta erota? – Osmo Soininvaara
Vaihtotase kesäk. ylijäämäinen, pääomaa vietiin
nettomääräisesti – Tilastokeskus
Koko kaupan myynti kesäk. -1,5% YoY – Tilastokeskus
Kansantalouden tuotanto kesäk. hieman
edelliskuukautta pienempi – Tilastokeskus