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EUROPE
New Reasons to Worry About Europe's Banks – View
/ BB
Germany’s exports in dire straits – ABN
AMRO
Merkel Coalition Readies for Greek Deal as EU
Crises Multiply – BB
EUROPEAN
CENTRAL BANK
Peter Praet: ECB’s
monetary policy response to disinflationary pressures – ECB
Draghi's Big Bazooka Is
Misfiring – BB
JPM, ECB Hint At Helicopter
Money Following Next Significant Downturn – ZH
Annual Report 2015 – ECB
Vítor Constâncio
presentation of annual report – ECB
UNITED STATES
FED
MINUTES
FOMC minutes: Move
along, nothing to see here – Danske
Bank
Fed reluctant to raise
rates soon – ABN
AMRO
Fed deeply split – Nordea
Dovish Minutes – Tim
Duy
OTHER
JP(wh)Y? – FT
USDJPY Crashes, Drags Equities With It As Gold Soars – ZH
U.S. readies bank rule on shell companies amid
'Panama Papers' fury – Reuters
Global Trade Watch – No reason for satisfaction,
nor for panic – ABN
AMRO
Sluggish global trade is
in line with weak global manufacturing. EMs have driven slowdown in global
exports, but divergence is high. EMs shrug off import weakness; US import
momentum has weakened. Some green shoots: recent signs of pick-up global
manufacturing and trade. We expect global trade to follow moderate pick-up in
growth later this year.
REGULARS
Danske Daily – Danske
Bank
Eye-Opener – Nordea
Fed deeply split, EURUSD higher,
Yellen speech * New call on Norges Bank and NOK * The Bund moves back above
0.1% * USD weakens on Fed minutes
Morning Markets – TF
The yen is bullying the dollar ever
lower and giving policymakers in Japan a real headache especially after prime
minister Shinzo Abe earlier in the week warned against intervention.
Daily Market Comment –
Marc
Chandler
Yen Continues to Climb
Daily Market Comment
– Macro
Man
It's official: the glass is (almost)
always half empty for the Fed
Daily Shot – TF
While the USD index is
drifting lower JPY rallies and so do equities. This is surprising as usually
the yen rally corresponds to risk-off sentiment. In the following we are also
looking at more assets increasing value.
Daily Press Summary – Open
Europe
Large victory for ‘No’
camp forces Dutch government to reconsider ratification of EU-Ukraine deal * Two
new polls give Remain one point advantage as government sends anti-Brexit
leaflet to every household * European Commission’s asylum reform plans trigger
mixed reactions * New poll: Frankfurt’s financial hub would be the biggest
beneficiary of Brexit * Leaked German police report: EU-Turkey migrant deal not
yet working * Cameron personally intervened to water down EU tax transparency
drive in 2013
Brussels Playbook – Politico
Dutch No Show — Michel
flops — Macron’s movement
US Open – ZH
"There Is A Lot Of
Fear In The Market" - Stocks, Futures Slide After Yen Soars
Frontrunning – ZH
The USD is weaker after
the FOMC minutes confirmed the Fed's dovish guidance despite the supposed
debate on whether an April rate hike is in the cards (the clear answer is no).
The JPY continues its march higher as Bank of Japan gets idelined. Is EURUSD to
break higher now too?
The Japanese yen is
leading the forex pack as the European session kicks off spurred by
expectations that the BoJ will soon loosen monetary policy yet again. Oil
meanwhile has shed some of yesterday's sharp gains and is back to testing
resistance.
FINLAND & FINNISH
Kohti
50 dollaria * Fedin kokouksen pöytäkirjat avasivat komitean sisäisiä
jakolinjoja * Riksbank liikkuu hiljalleen kohti joustavampaa
inflaatiotavoitetta * Fedin pääjohtaja Yellen pitää puheen