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EUROPE
BANKS
New Wrinkle in European
Bail-In Efforts – Marc
Chandler
The problem at euro
banks – Edward
Harrison
Fixing European Banks
With a U.S.-Style Solution? Not So Fast – BB
Italian banks: Essential
repairs – FT
Italy warned to abide by
‘strict’ EU bank rescue rules – FT
UNITED
KINGDOM
Bank of England preview:
Some policy easing now, some later – Nordea
Brexit Briefing: Real
Estate Funds A Fresh Warning for the Eurozone – WSJ
May to Succeed Cameron
as Britain’s Prime Minister on Wednesday – BB
May to replace Cameron as
pro-Brexit rival quits UK PM race – Reuters
Münchau: An EEA-minus
deal for the UK is wishful thinking – FT
UNITED STATES
July Macro Update – Fat Pitch
New Highs In Wage Growth
and Retail Sales
OTHER
Dollar soars to one-week
high vs yen on Japanese stimulus expectations – Reuters
REGULARS
Danske Daily
– Danske
Bank
Eye-Opener
– Nordea
PM Abe won super majority, strong
headline NFP * Nordic inflation day * US yields lower despite stronger headline
NFP * FX market lacked direction on Friday
Morning Markets
– TF
A stunning victory for Shinzo Abe's
coalition in elections this weekend has raised the prospect of helicopter money
as the next stage in Japan's quest for inflation and sparked the Nikkei to its
best day in four months.
Daily Market Comment –
Marc
Chandler
Dollar Extends Gains
Daily Market Comment
– Polemic’s
Pains
Brexit bounce and Financial STD's
Daily Press Summary
– Open
Europe
Theresa May reiterates that “Brexit
means Brexit” * Merkel: There will be no “cherry-picking” in upcoming UK-EU
talks * German Deputy Finance Minister: We should not aim for more European
integration at this stage * Over 1,000 barristers call for parliament vote to
trigger EU exit procedure * UK Government turns down second referendum petition
* Brexit paves way for federal union to save UK, Constitutional Reform Group
will say * Rise in reported hate crime since EU referendum vote continues * Angela
Eagle to challenge Corbyn for Labour leadership * Pension funds concerned about
the impact of Brexit * EU and US negotiators open new round of talks on free
trade deal * EU to propose new refugee plan, as NATO is set to help bloc
monitor migrant flows across the Mediterranean
Brussels Playbook
– Politico
Schulz on the line — Is free trade
dead?
US Open – ZH
Sterling Surges, UK Stocks Enter
Bull Market After Andrea Leadsom Quits UK Leadership Race
Frontrunning
– ZH
FX Update
– TF
The strength of Shinzo Abe’s LDP
party in Japan’s upper house elections over the weekend has the market anticipating
imminent BoJ/Abe helicopter money. Elsewhere the market is not sure what to do
with the US dollar after mixed jobs report.
From the Floor
– TF
Asian shares were broadly up this
morning on a risk-on rally whose origins lie in both Friday's strong US jobs
print and hopes of stimulus from Japanese PM Abe's new supermajority
government. Bond yields however remain stubbornly low as more and more of the
world flirts with zero or even negative interest rates.
FINNISH
Aamukatsaus – Nordea
Englannin
keskuspankki kovien haasteiden edessä * USA:n työllisten määrä kasvoi
vakuuttavasti * Japanin pääministeri Abe sai vaaleissa vahvan kannatuksen *
Tällä viikolla saadaan Pohjoismaiden ja USA:n kesäkuun inflaatioluvut
Saksalaisen
Deutsche Bankin pääekonomistin mielestä pankeille saatava 150 miljardin
tukipaketti, veronmaksajien ei pitäisi joutua Euroopan pankkien ongelmien
maksumiehiksi.
Nyt vaaditaan 150 miljardia ja
sääntöjen rikkomista – voiko EU pelastaa pankit, mutta jättää kansan
pelastamatta? – TalSa
Deutsche Bank
vaatii Euroopan pankeille 150 miljardin tukipakettia. Talouskuri on kiristänyt eurokansan
pinnaa jo sen verran, että pankkien pelastaminen heidän piikkiinsä saattaisi
olla viimeinen naula arkkuun.
Hans-Werner Sinn warnt vor Austritt
Finnlands – Wirtschafts Woche
Saksalaisekonomisti
Brexitin jälkeen on vuorossa Suomen Fixit – IS
Saksalainen
taloustieteilijä: Suomi voi erota euroalueesta – YLE
Saksalaisekonomistin
mielestä Suomi voisi erota eurosta – KL