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EUROPE
Time may be nearing for
ECB stimulus exit: Weidmann – Reuters
Draghi Signals Greek
Debt Measures Not Enough for QE Inclusion – BB
Macron Can Follow
Germany's Lead on Labor Reform – BB
ifo Business Climate
Index Hits New Record High – cesifo
Only the World Can Stop
Germany as Business Climate Hits Record – BB
ITALIAN
BAILOUT
Italy to start winding
down Veneto banks Saturday after EU green-light – Reuters
Italy
Winds Down Two Veneto Banks - Depositors Protected Says PM – Forbes
Commission approves aid
for market exit – EU
Italy winds up Veneto
banks, deal could cost up to 17 billion euros – Reuters
Veneto Bailout To Cost
Up To €17 Billion - Another Dreadful Effect Of The Euro – Forbes
UNITED STATES
Corporate Tax Rate at
28% Seen as More Likely Than Historic Cut – BB
Durable-Goods Report Undermines
Hopes for Economic Pickup – WSJ
U.S. core capital goods
orders, shipments decline in May – Reuters
Dudley Had Some Worrying
Remarks During A Closed-To-The-Press Session – ZH
OTHER
What's Going on in EUR? –
Macro
Man
Key Events In The Coming Busy Week – ZH
Yellen, Inflation,
Durables And GDP
Macro Monday: Wrapping up the first half of 2017 – TF
PMIs and GDP growth for
the first half of the year are now in focus as June 30 draws near. There is a
summer mood about in some markets with activity and general interest fading.
Meanwhile the prospect of a global credit slowdown is a worrying issue.
REGULARS
FirstFT Daily Briefing – FT
Takata bankruptcy, Google’s day of reckoning, FT Summer Books
WSJ City – WSJ
Activist Targets Nestlé, Co-op Bank Ends Sale Plan, Italy’s €17 Billion
Bank Bailout
“Best of the web” charts – Lukas Daalder
https://lukasdaalder.com/2017/06/26/best-of-the-web-17-06-26-nr-1690/
Danske Daily – Danske Bank
Eye-Opener – Nordea
Ifo numbers today * This week’s main driver for rates; Inflation data and
quarter end * Yellen tomorrow is a key event for the dollar.
Morning Markets – TF
Asian equities rose on Monday after a rebound for US stocks on Friday
with firmer crude oil prices also lending support. Trading in Asia was thinned
by the Islamic holiday of Eid al Fitr marking the end of Ramadan.
From the Floor – TF
Rome's decision to put up to €17 billion – including €5bn in taxpayer
funds – into its failing banking sector is the story of the day as the
intervention into Veneto Banca and Banca Popolare di Vicenza places regulatory
and political risks in the spotlight.
Daily Market Comment – Marc Chandler
Italian Markets Shrug off Banking Morass and Local Election Results
Brussels Playbook – Politico
Trade leaks — German ECB ambitions — Greek revival
Five Things You Need to
Know to Start Your Day – BB
10 things you need to
know before the opening bell – BI
US Open – ZH
Italy Bank Bailouts Send European, Global Stocks Higher; Gold Flash
Crashes
Frontrunning – ZH
FX Update – TF
FX volatility keeps declining as measures of implied volatility for
options reach their lowest levels in nearly three years and the market does not
know where to look for the next catalyst. This week’s report from the US
commerce department on the US trade deficit has the potential to swing the
focus back to Trump policy-making risks.
FINNISH
Tällä viikolla
tulossa euroalueen inflaatio ja USA:n PCE-inflaatio | Tänään julkaistaan Saksan
Ifo-indeksi | Markkinoilla oli perjantaina rauhallista