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EUROPE
Cross-Country Spillovers
of Fiscal Consolidations in the Euro Area – IMF
UNITED STATES
Trump Travel Ban
Starting Thursday Evening U.S. Time, Source Says – BB
Banks Unleash
Surprisingly Big Payouts After Fed’s Stress Tests – BB
OTHER
The dollar should
rebound in the coming months – Pictet
Global: Deflating
inflation expectations – Nordea
On LTCM, swap spreads
and bonds – Kevin
Muir
MARKET
CRASH
Tech Spoils Bank Party
as Stocks Drop; Euro Gains – BB
Financials
Give Up Stress-Test Gains As FANGs Falter – ZH
US corporate return on equity falls to new low – FT
All
Time Low for US Corporate ROE – Macro Man
RBC Explains The
Market's Sudden Regime Shift – ZH
Deutsche Bank’s "Three
Big New Themes In Markets" – ZH
Another Vol Event
Strikes As FANGs Face Worst Week In 5 Months – ZH
REGULARS
Morning Report APAC – TF
The tech-led surge in US shares moved on to the Asia equities market this
morning with most regional bourses enjoying an upsurge in values courtesy of US
confidence and stronger oil
FirstFT Daily Briefing – FT
Markets roiled, Vatican official charged, Hong Kong 20 years on
WSJ City – WSJ
Brexit Red Lines, U.S. Banks Pass ‘Stress Tests’
“Best of the web” charts – Lukas Daalder
Danske Daily – Danske Bank
Eye-Opener – Nordea
German and Spanish inflation numbers today * ECB leads yields slightly
lower * CAD and GBP strengthen on hawkish comments from BoC and BoE Governors
Morning Markets – TF
Asia-Pacific shares gained on Thursday after Wall Street stocks led by
banking shares closed higher on Wednesday. The US dollar weakened against Asian
currencies and stayed soft versus the pound and euro.
From the Floor – TF
European Central Bank president Mario Draghi's attempts to put a lid on
market exuberance following Tuesday's hawkish remarks were rejected as
investors bet on central bank timidity.
Daily Market Comment – Marc Chandler
Run on Dollar and Yen Continues
Brussels Playbook – Politico
Roaming pensioners — Final days of Maltese presidency — Delayed
referendum in Bosnia
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
Euro Surges, Yields And Stocks Rise As Central Banks Deliver Coordinated
Message
Frontrunning – ZH
FX Update – TF
Central banks want to ease away from excessive accommodation without
upsetting markets which is essentially an exercise in having one's cake and
eating it too. The ECB's attempt to disapprove of the market's reaction to
Draghi's recent speech has fanned the flames of the risk-taking conflagration
encouraging the notion that central banks will always shy away from triggering
any larger market upset as they tighten policy.
FINNISH
Aamukatsaus – Nordea
Markkinat ymmällään * EURUSD päätyi lopulta nousuun *
Punta vahvistui Carneyn haukkamaisten kommenttien seurauksena * Päivän
pääjulkaisuja ovat Saksan ja Espanjan kesäkuun inflaatioluvut