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EUROPE
Brussels embraces open borders for Turks – Politico
‘Qualified’
recommendation for visa liberalization expected Wednesday.
Leaked TTIP documents reveal ‘irreconcilable’
differences – Politico
Greenpeace to publish
248 pages of leaked negotiating texts.
5 takeaways from German AfD’s party congress – Politico
Euro-area sovereign
bonds hand investors 1% loss in April * Oil recovery drives inflation-outlook
gauge to six-week high
Brexit fears have eased
but uncertainties hit the economy
UNITED STATES
There are five people
who’ve gone deeper on The Donald than anyone else alive. We brought them
together for the definitive conversation about who he really is.
We recommend taking a
deeper look at the details of today’s Q1 ECI report, which shows a clear
uptrend in underlying wage pressures. Excluding incentive pay which recently
has driven the volatility in the ECI, private-sector wages were up 2.5% y/y in
Q1, the strongest pace in seven years. This gives more support to our forecast
of a steeper USD yield curve later this year and a full four Fed rate hikes in
2017.
OTHER
The USD took another leg
down, and it is on the verge of a downtrend. China growth picking up and oil
prices rising pull the USD out of the range...
With interest rates in
many countries at or near zero, aversion to fiscal expansion reflects raw
ideology, not pragmatic considerations. That means a flanking move might be
required, one that takes advantage of the fact that “monetary policy” is and
always has been “fiscal policy.”
Finance's Firefighter
Wants to Be Its Architect
REGULARS
PMIs ahead, central banks behind us,
yields to go lower * 5Y5Y EUR inflation swaps jumped despite weaker than
expected inflation * JPY reach 18 month high
Equities took a dive in Tokyo as
trading resumed following the public holiday on Friday. Worries about the
impact of the rising yen on corporate earnings left investors clearly rattled.
In more bleak news for Japan the Nikkei manufacturing PMI slipped into
contractionary territory last month with a reading of just 48.2.
New Month, Same Heavy Dollar
Another strong jobs report may not
be sufficient to reignite dollar rally
It's May. Now what?
USDJPY dives below 107
and the strength of the yen could dampen Japanese inflation and thereby undermine
the central bank's efforts.The weaker US dollar has driven commodities prices
to fresh highs and a big speculative position in gold makes the precious metal
vulnerable to a correction.
German economic views
attacked — Turkey visa win looming
Slew Of Negative News, Defaults And
Failed Mergers Push Futures In The Green
The yen and euro
continued stronger still on the theme of central bank policymaking struggling
for traction. Meanwhile the RBA is on tap with the market divided on the
prospects for a cut meaning two-way risk over tonight's interest rate decision
as AUDUSD trades in a pivot area.
USDJPY continues to
dominate the airwaves senfing the Nikkei to a 3% plunge but there could be a
"dramatic reversal" in the longer term judging by Japan's ailing
fundamentals.
FINLAND
& FINNISH
USA:ssa
palkkojen nousu kiihtyy * Euroalueen kasvu selvästi ennakoita vahvempaa *
Norjan työttömyys laski jälleen * Tänään luvassa on USA:n tehdasteollisuuden
ISM