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Tuesday, March 21

21st Mar - First bear day since US election






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EUROPE
Is Italy Europe’s Next Big Worry? – PIIE

  EUROPEAN CENTRAL BANK
Euro area: Escape the (NIRP) room – Pictet
German Auditors Push for Greater ECB Oversight – Handelsblatt


UNITED STATES
Four Political Risks Keeping Goldman Up At Night – ZH


OTHER
The Daily Prophet: This May Be the Day the Trump Trade Died – BB
FX nugget: could Fed become less gradual? – Nordea


REGULARS
Morning Report APACTF
Fed officials have given divergent views on the number of rate hikes that the central bank is likely to make this year. All eyes will be on upcoming Fed speeches to see if they can clarify the outlook for US rates. Meanwhile gold has firmed while base metals have retreated.

FirstFTFT

WSJ CityWSJ

Danske DailyDanske Bank

Eye-OpenerNordea
EUR rises after French election debate * UK consumers are feeling the effect of Brexit * Transatlantic spread falling approaching to 200bp * SEK buoyed by proposed FX reductions

Morning Markets TF
UK prime minister Theresa May's announcement that she will invoke Article 50 on March 29 has been met with a statement of EU officials commitment to start Brexit talks. The winner into today's open has been the euro particularly versus GBP. 

Daily Market CommentMarc Chandler
Euro Recovery Continues, Posts New Six Week High; Other Currencies Mixed

Brussels PlaybookPolitico

Five Things You Need to Know to Start Your DayBB

10 things you need to know before the opening bellBI

US OpenZH
Global Stocks Rise; Euro Surges To 6 Week High After French Presidential Debate

FrontrunningZH

FX UpdateTF
The euro was broadly bid after the French presidential election debate saw Macron declared the night’s victor. Reaction in sovereign debt markets meanwhile was rather muted. Today’s focus will quickly shift to UK CPI after last week's shift in BoE guidance.


FINNISH
AamukatsausNordea
Brittien lähtö alkaa * Ison-Britannian helmikuun vähittäishinnat ja inflaatio julkaistaan tänään * Öljyn hinta ei ole palautunut tiputuksestaan |