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Thursday, April 6

6th Apr - Dovish talk from ECB





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EUROPE
Czech National Bank Ends Currency Cap, Floats Koruna – ZH

  EUROPEAN CENTRAL BANK
Mario Draghi: Monetary policy and the economic recovery in the euro area – ECB
Draghi sees no need to deviate from stated policy path – Reuters
Draghi Draws Line Under ECB Rate Debate and Warns on Prices – BB
Peter Praet: Calibrating unconventional monetary policy – ECB
ECB's top economist upholds policy plan against rate speculation – Reuters
The ECB’s upcoming repo market headache – FT


UNITED STATES
  JOBS REPORT
5 Things to Watch in the March Jobs Report – WSJ
March Employment Preview: Mixed Signals – Bill McBride
Fed Likely To Discount Weakness in March Employment Report – Tim Duy 

  FEDERAL RESERVE
Lots To Chew On In The FOMC Minutes – Tim Duy
FOMC minutes: Quantitative tightening is moving closer – Danske Bank


OTHER
How To Trade The Trump-Xi Summit – ZH
Cracks in the reflation trade – Bond Vigilantes
SocGen: Upcoming Central Bank Reversal Can't Be Helpful For Stocks – ZH


REGULARS
Morning Report APACTF
Asia followed Wall St's lead down after FOMC minutes indicated a majority of Federal Reserve officials believed the central bank would begin to shrink its $4.5tn balance sheet before the end of 2017.|

FirstFTFT
PM accepts possible extension of EU rules, Germany’s contentious new law, and a miracle drug no one wants

WSJ CityWSJ
Co-op Swings to Loss, Unilever Restructures, Fed to Shrink Balance Sheet

Danske DailyDanske Bank

Eye-OpenerNordea
German industrial orders and ECB speakers * US yields lower despite strong ADP and reinvestment phase out * USD weaker as Fed seen closer to shrinking balance sheet

Morning MarketsTF
Markets are braced Thursday for a powerful dose of risk-off as a Fed plan to reduce its balance sheet sent indices down and pulled the rug from underneath the Trump trade as he sits down Thursday for a meeting with Xi Jinping|

From the FloorTF
Risky assets are on the ropes after Wednesday's Fed minutes showed the bank to be planning a liquidity-crushing balance sheet reduction while comments from US Speaker of the House Paul Ryan deflated lingering hopes of a Trump-led tax reform bonanza.

Brussels PlaybookPolitico
First Vučić interview — Syria letdown — EPP divided on Hungary

Five Things You Need to Know to Start Your DayBB

10 things you need to know before the opening bellBI

US OpenZH
Global Stocks Rebound From Overnight Lows, On Edge Ahead Of Trump-Xi Meeting

FrontrunningZH

 
FINNISH
AamukatsausNordea
Odotamme Saksan teollisuuden tilausten kääntyneen vahvaan nousuun | Fedin avomarkkinakomitean kokouspäiväkirja oli hieman odotettua haukkamaisempi | Ruotsin helmikuun tuotantoluvut olivat vahvat