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EUROPE
Europe's Smaller But
Tougher Migrant Crisis – BB
Barclays giant Brexit chart
– ZH
Italy Discusses Euro
Exit: Debt Restructuring or “Italeave”? – MishTalk
EUROPEAN
CENTRAL BANK
ECB PSPP update: Longer
but less German bonds – Nordea
German PSPP continues to
run ‘below par’, biased towards short maturities – Danske Bank
Snap AV: Don’t fear the
(ECB) taper – FT
The ECB’s core country
taper – ABN AMRO
QE is approaching its
Germany limit – FT
DATA
Volume of retail trade
up by 0.4% in euro area – Eurostat
EU28 current account
surplus €58.9 bn – Eurostat
Euro Area Faces Capacity
Bottlenecks as Recovery Gathers Pace – BB
Final PMIs signal
stronger Q2 growth, retail sales strengthen in May – Daiwa
Russia Services PMI – Markit
Spain Services PMI – Markit
Italy Services PMI – Markit
France Services PMI – Markit
Germany Services PMI – Markit
Eurozone Composite PMI –
Markit
UNITED STATES
Job Market Monitor: June
report likely stronger than recent months – Danske
Bank
US Factory orders constrained
by volatile areas in May – Daiwa
FEDERAL
RESERVE
The Two Main Things To
Look For In Today's FOMC Minutes – ZH
Fed Minutes May Give Clues
on Timing of Balance-Sheet Runoff – BB
June FOMC meeting
minutes – FED
Fed Officials Divided on
When to Begin Balance-Sheet Unwind – BB
Fed: Equity Prices Are
High, Low Volatility A Risk To Financial Stability – ZH
Minutes Show
"Divided" Fed Fearful Of High Asset Prices, Low Inflation – ZH
Markets Shrug At Fed
Bubble Fears – ZH
OTHER
Macro Digest: Big changes, or more of the same? – TF
Stock Market Yields Are
Higher Than You Think – Ben Carlson
SocGen: "Are We
Just Prisoners Here, Of Our Own QE?" – ZH
As The S&P 500
Becomes One Giant ETF, BofA Has Four Major Warnings – ZH
Strengthening Global
Growth and Building Inclusive Economies – IMF
Japan Services PMI – Markit
China General Services
PMI – Markit
REGULARS
Equities have lost ground in Asia in the wake of the rise in geopolitical
tensions over North Korea while gold has firmed. In FX markets the Australian
dollar dropped overnight on the less hawkish than expected tone from the RBA.
Missile standoff, Volvo ditches petrol, San Francisco fires
Fed Could Delay Rate Rise, Korea Tensions, The Problem With Bank Stocks
Weaker Chinese PMI, Spanish uncertainty, Fed minutes ahead * The Riksbank
drops easing bias
FOMC minutes to push yields up? * Weaker SEK on Riksappointment
Asian financial markets were unsettled on Wednesday by North Korea's
claim on Tuesday that it had fired its first intercontinental ballistic missile
which prompted South Korea and the US to conduct joint missile exercises. Gold
and the Japanese yen climbed while the US dollar softened against the yen in
response to the heightened geopolitical tensions.
Geopolitical fears are as elevated as they have been in years with
flashpoints in North Korea and Syria throwing relations between the US, China,
and Russia into stark relief ahead of the weekend's G20 summit. Fears of global
unrest are supporting gold despite a softer yen and higher bond yields.
Dollar Firm as Investors Await Fresh Directional Cues
Estonian yellow pages — Ridiculous EU Parliament — Kamall’s semi-Brexit
10 things you need to
know before the opening bell – BI
Global Stocks Rebound From Korea Jitters; S&P Flat As Fed Minutes
Await; Oil Slides
Frontrunning – ZH
The US dollar pulled away from its weakest levels in recent days but now
faces an important test as we await the release of the FOMC minutes later today
for indications of the likely timing of the beginning of quantitative
tightening and degree of the Fed's concern about the economy.
FINNISH
Katseet pöytäkirjaan * Fedin pöytäkirja julkaistaan *
Tulossa ostopäällikköindeksejä * Öljyn hinta on nousussa