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Thursday, April 27

27th Apr - ECB dull, US tax plan & Q1 GDP





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EUROPE
Riksbank’s split executive board adds stimulus – Danske Bank

  EUROPEAN CENTRAL BANK
Six Years After ECB Disaster Draghi Plots a Middle Ground – BB
Monetary policy decisions – ECB
ECB: Rates Unchanged, Says Ready To Expand QE If Outlook Worsens – ZH
Introductory Statement – ECB
Draghi Does Nothing and Talks about It – Marc Chandler
ECB: the courage not to act – Pictet
Return of inflation opens door for small changes in June – Nordea



UNITED STATES
U.S. Congress may seek one-week funding extension to avert shutdown –
Reuters
5 Things to Watch in the First-Quarter GDP Report – WSJ
BofA Capitulates: "The Trump Put Is Over", It's Time To Sell Small Caps – ZH

  TAX PLAN
Trump’s tax plan headed for challenging road – Nordea
Mnuchin Takes Crash-Course Navigating Washington With Tax Deal – BB
Markets Say 'Tell Us What We Don't Know' On Trump Tax Proposal – BB
Trump's Misguided Approach to Tax Reform – BB
Now Wall Street thinks tax reform will pass? – FT

  NAFTA
Trump tells Canada, Mexico, he won't terminate NAFTA treaty yet – Reuters
Trump Rules Out Swift Nafta Withdrawal in Favor of Renegotiation – BB


OTHER
BoJ: Nowhere close to taper – Nordea
BOJ sounds most upbeat on economy in nine years, policy unchanged – Reuters
The rising risk from North Korea – and what it means for markets – Danske Bank


REGULARS
Morning Report APACTF
Trump's tax reforms disappointed US investors leading to soft trading on Wall St.|The bearish mood has spread to Asia leaving equities struggling to make gains today. Meanwhile US talk of an exit from NAFTA has impacted forex markets.

FirstFTFT
Trump decides not to withdraw from trade pact with Canada and Mexico

WSJ CityWSJ
Lloyds Profit Rises as Conduct Costs Fall, Deutsche Earnings Double

Danske DailyDanske Bank

Eye-OpenerNordea
Trump’s tax plan, strong Swedish data, ECB and the Riksbank ahead * Big question marks remain over the US tax reform * Bund yields falls, supply puts Italy, and Spanish yields under pressure * The SEK maintains its surge, but keep an close eye on the Riksbank today

Morning MarketsTF
Donald Trump's intentions to streamline the US tax system has been one of the more eagerly awaited bits of policy from Washington but when investors received a first look at his plans yesterday they were decidedly unimpressed.

From the FloorTF
Donald Trump hoped to seal his first 100 days in office with a big public-relations coup but his tax reform plan has left markets completely underwhelmed as it manages the devilish trick of looking over-complicated and lacking detail at the same time. Maybe he is just an ordinary politician after all.

Daily Market Comment Marc Chandler
Several Developments ahead of the ECB meeting

Brussels PlaybookPolitico
Brussels hits Orbán — EU calls May’s bluff — Schulz probe dropped

Five Things You Need to Know to Start Your Day BB

10 things you need to know before the opening bellBI

US OpenZH
Stocks Dazed After Trump NAFTA Flop, Tax Plan Disappointment; ECB Looms

FrontrunningZH


FINNISH
AamukatsausNordea
EKP kokoustaa tänään rahapolitiikastaan * Riksbank odottavalla kannalla * Ruotsin teollisuuden luottamus oli poikkeuksellisen vahva