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Monday, July 4

4th Jul - US independence day



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EUROPE
Merkel To Get Rid Of Jean-Claude Juncker "Within The Next Year"ZH

Nordic outlook after BrexitDanske Bank

The ECB and the capital key questionPictet

  BREXIT
A guide to the Brexit fallout for the City of London – Bruegel
Brexit Is a Lehman Moment for European Banks – View / BB
Day 8 after UK's decision to leave the EU – Danske Bank
Markets hit hard by Brexit but not crumbled – politics has – Open Europe
The European press on Brexit: “contain desire for revenge” – vox
Blindsided by Brexit Bias – Psy-Fi
Parliament and Brexit – Frances Coppola


OTHER
Yield Forecast UpdateDanske Bank
Global yields are set to stay 'low for even longer'


REGULARS
Danske DailyDanske Bank

Eye-OpenerNordea
Risk on, US off, positive surprise from ISM * US labour market report key this week * US 30-year close to all-time low, EUR markets jibbed by rumours of QE changes * Positive ISM data was not enough to lift the USD vs G10 currencies

Morning MarketsTF
Markets are closed today in the US for the July 4 public holiday but it was business as usual in Asia. China's benchmark Shanghai Composite was the star perfomer in Asia today posting strong gains driven by stimulus hopes. The Nikkei 225 also headed into positive territory reversing an opening tumble. In Australia uncertaintly about the outcome of the July 2 election weighed on investor sentiment; the result is too close to call and counting will continue this week.

Daily Press SummaryOpen Europe
84% of Brits think EU migrants already in the UK should be able to stay after Brexit *
Clear line emerges between Tory leadership candidates on urgency of triggering Article 50 * Farage steps down as UKIP leader * Legal action launched to stop Article 50 being triggered without an Act of Parliament * Ruth Davidson: UK government should not seek to block second referendum on Scottish independence * Sunday Times: Juncker could face increasing pressure to resign from Berlin after Brexit vote * Juppé: We need to find solution to “have UK in European market, one way or another” * Osborne pledges to cut corporation tax below 15% to help offset impact of Brexit * Germany’s Schäuble and Gabriel call for slimmed down EU in wake of Brexit vote * Italian government ready to inject public funds into ailing banks, in spite of new EU rules * Slovak Presidency wants to change narrative on migration * Commission to give Spain and Portugal three more weeks of breathing space on budget deficit

Brussels PlaybookPolitico
Brexit aftershock — NATO summit — Polish constitution

From the FloorTF
Silver hit a two-year high overnight but is it due for a spot of retracement?


FINNISH
AamukatsausNordea
USA:n työllisyyskehitys Fedille toissijaista epävarmuuden vallitessa * USA:n teollisuuden luottamus yllätti positiivisesti * Punta matalimmalla tasollaan 31 vuoteen *​ USA:n markkinat ovat tänään suljettuina itsenäisyyspäivän vuoksi

Britannia ja Euroopan sisämarkkinatSoininvaara