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Friday, June 3

3rd Jun - Bad US jobs report kills June hike



Previously on MoreLiver’s:


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EUROPE
Schäuble and the Banking UndeadFT


UNITED STATES
  MAY EMPLOYMENT REPORT
May Jobs Report – The Numbers – WSJ
May Employment Report: 38,000 Jobs, 4.7% Unemployment Rate – Bill McBride
Comments: A Disappointing Employment Report – Bill McBride
Economists React to the May Jobs Report: ‘An Unqualified Dud’ – WSJ
The May Jobs Report in 12 Charts – WSJ
How the Verizon Strike Hit Jobs Report, and What It Means for June – WSJ
May’s job report tells Fed to wait – ABN AMRO
No summer hike – Danske Bank
Disappointing jobs report means Fed may wait before hiking rates – Pictet
No Fed rate in June - jobs report review – Nordea


OTHER
Three Political Events before the UK ReferendumMarc Chandler

Schroedinger's assetsFrances Coppola


REGULARS
Danske DailyDanske Bank

Euro rates updateNordea

Eye-OpenerNordea
Brent bouncing amidst muted markets, payrolls awaited * US payrolls to support a rate hike rather soon * Oil prices bouncing after OPEC swoon * Good news for Trump

Morning MarketsTF
The solid jobs figure from ADP boosted Wall Street on Thursday which in turn gave Asian markets a positive lead. Crude price gains also helped lift investor sentiment in Asia. However investors remain cautious ahead of the release of US nonfarm payrolls data today.

Euro wrap-upDaiwa

Daily Market CommentMarc Chandler
Currency Market Becalmed Ahead of US Jobs Data

Daily Market CommentMacro Man
The last stop before Fed Junction

Daily ShotTF
We are presently seeing sharp spikes across a variety of commodities but while some of these rallies look impressive the CRB broad commodity index's recovery will take a while.

Daily Press Summary Open Europe
Voters test Cameron in first major TV appearance in referendum campaign * Merkel warns UK would not enjoy same degree of market access post Brexit as new polls show large majorities of French and Germans want UK to stay in * Dijsselbloem criticises Juncker for suggesting France gets deficit leeway from EU Commission “because it’s France” * Ankara reacts with fury after Bundestag votes to recognise massacre of Armenians as genocide * ECB holds off on decision to re-accept Greek bonds as collateral

Brussels PlaybookPolitico
The Terminator, Parliament edition — The UK’s anti-Boris

US Open ZH
Futures Flat Ahead Of Strike-Impacted Jobs Report; Commodities Approach Bull Market

FrontrunningZH

FX UpdateTF
Today’s US data are seen as the key tip-off for the Fed’s interest rate decision and guidance at the June 15 FOMC meeting and could generate significantly volatility due to the Fed’s clear data dependence.

From the FloorTF
The NFP for May could be one of the critical data points that sets the US Federal Reserve up for a summer rate-hike move with July looking more than ready to take on all-comers.


FINNISH
AamukatsausNordea
Draghi kieli keskellä suuta * OPEC-kokouksessa ei yllätyksiä *​ Draghi onnistui pitämään markkinamuutokset maltillisina *​ Tänään markkinoilla seurataan USA:n työllisyysraporttia

”Eliitillä ei ole oikeaa vastausta”TE
Vain poliitikkojen epärehellisyys pitää Euroopan rahaliiton koossa, sanoo Englannin keskuspankin entinen pääjohtaja lordi Mervyn King.

Ekonomisti varoittaa euroalueen tuhosta – ”Te Suomessa kärsitte, mutta se ei riitä”HS
Rahaliitto uhkaa jo eurooppalaista demokratiaa, varoittaa Mervyn King.

Raikas tuulahdus Iso-BritanniastaProfessorin ajatuksia