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EUROPE
European Commission Authorized Italian
Government to Support Banks – WSJ
Program approved under
the bloc’s ‘extraordinary crisis rules for state aid’
Germany: 2016 Article IV
Consultation – IMF
Germany: Financial
System Stability Assessment – IMF
Germany: Selected Issues
– IMF
BREXIT
After Brexit, Here’s
What’s Next for Europe – BB
Boris Johnson says not
running for Tory leader and PM – Politico
Boris Johnson Says He
Won’t Run for UK Tory Leadership – BB
REGULARS
Danske Daily – Danske
Bank
Eye-Opener – Nordea
Euro area inflation, Bund yields
lower and new financial forecasts * Euro-area inflation to rise to 0.1% y/y * Limited
room for 10Y Bund yields to go lower – new financial forecasts * GBP gained
against its major peers as markets comes to terms
Morning Markets – TF
Market watchers and investors
breathed a sigh of relief today with overnight gains on Wall St flowing through
to rises on Asian bourses. But that positive trend made a sudden reversal late
in the Asian session as a strong wave of post-Brexit blues flooded markets once
more.
Euro wrap-up –
Daiwa
Daily Market Comment –
Marc
Chandler
Calm Continues, but Rot Below the
Surface
Daily Market Comment
– Macro
Man
Asset market returns: A simple
response to Fed "tightening" or has all the juice been squeezed out?
Daily Market Comment
– Polemic’s
Pains
Market gasps a breath.
Daily Shot – TF
As markets recover from
the political shock imposed by Britain's voting to leave the European Union
commodities trace their own volatile trajectories on some under-examined
factors.
Daily Press Summary – Open
Europe
Gove and Leadsom declare
Tory leadership bids as poll finds May would beat Johnson among party members *
EU leaders warn UK no access to the single market without acceptance of freedom
of movement * French and Spanish leaders reject EU talks with Scottish
nationalists * Schäuble’s post-Brexit EU reform plan * Irish and UK leaders
will work together for best Brexit outcome, Irish PM says * John Kerry suggests
Brexit could be reversed * Rutte willing to sign Ukraine treaty despite Dutch
‘No’ in referendum * Merkel opposes Renzi’s plan to sidestep EU rules to
recapitalise Italian banks * German Vice-Chancellor calls European Commission
“unbelievably foolish” over decision to sideline national parliaments in
EU-Canada free trade deal
Brussels Playbook – Politico
Who’s up, who’s down —
Who will pull the Brexit trigger
US Open – ZH
Yuan Tumbles, Stabilizes After
Reuters Report China Willing To Weaken Currency To 6.80
Frontrunning – ZH
Global equity markets
have largely picked up the pieces and moved on after the Brexit vote last week
while the collateral damage is still very evident in global bond and currency
markets. A curious state of affairs as the market feels very uncertain on what
comes next.
The recovery rally seen
in the wake of last week's shock Brexit vote has left some investors questioning
the validity of the bounce while others look for assets whose trajectories
reflect fundamental factors to a greater degree.
FINNISH
Aamukatsaus – Nordea
Italia testaa
pankkisääntöjen pitävyyttä * USA:n yksityisen kulutuksen kasvu jatkui varsin
vahvana * Markkinoilla tasaantumisen merkkejä Brexit-äänestyksen jäljiltä *
Tänään julkaistaan euroalueen kesäkuun inflaatio
Selvä enemmistö kannattaa Suomen pysymistä
unionissa ja rahaliitossa – IL
Soinille saattaa nousta haastaja
EU-kriitikoista – YLE
Politiikkaradio: Kärhämä Suomen
EU-kansanäänestysaloitteesta – YLE
Euroopan unionin kriisistä Kansakuntien
Eurooppaan – Olli
Immonen