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Thursday, July 6

6th Jul - Bonds crash, stocks follow





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EUROPE
Account of the monetary policy meeting – ECB


UNITED STATES
  FEDERAL RESERVE
FOMC minutes: Fed likely to announce start of QT in September – Danske Bank
Fed Officials Give Nod to ‘Elevated Asset Prices’ – WSJ
The Fed Follows a Script, But Inflation Isn't Playing Its Part – BB

  JUNE JOBS
El-Erian: How the June Jobs Report Matters for the Fed – BB
5 Things to Watch in the June Jobs Report – WSJ
ADP: Private Employment increased 158,000 in June – Bill McBride
ADP Employment Disappoints - No Manufacturing Jobs Gained In June – ZH


OTHER
  MARKETS
Whatever You Call It, It Isn't Complacency – BB
(Another) Taper Tantrum – BB
Richard Koo says the trick to exiting QE is to avoid telling anybody about it – FT
When will equilibrium return? That's up to FOMC, ECB and BoJ – TF

  G-20
The Flashpoints for World Leaders at the Hamburg G-20 – BB
The 5 Most Important Things the G-20 Won't Do – BB
The G-19 Must Prove Trump Wrong – BB


REGULARS
Morning Report APAC – TF
Crude prices took a tumble overnight after Russia said it hadn't planned any deeper output cuts. Meanwhile gold has made gains on geopolitical tensions and the FOMC minutes.

FirstFT Daily Briefing – FT
Malware attack reverberates, Hamburg prepares for G20, science for the masses

WSJ City – WSJ
Brexit Blueprint for City, The Risk of Recession, EU Resists Protectionism

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Eye-Opener – Nordea
FOMC minutes yesterday, ECB minutes today * ISM survey to shape expectations ahead of Friday’s US jobs report * Summer period gives little market moves * Dollar corrected slightly lower on FOMC minutes

Morning Markets – TF
Wednesday saw the FAAMG stocks – Facebook Amazon Apple Microsoft and Alphabet/Google – post strong gains as a crude oil selloff led Asian shares lower overnight.

From the Floor – TF
Shares in electric carmaker Tesla plunged 7% on sell-side reports on Wednesday, and the stock is now down 16% from its peak last week as the automobile industry has become the 'new battleground' with Volvo announcing the death of the combustion engine and plans to go all-electric.

Daily Market Comment – Marc Chandler
Stocks and Bonds Mostly Heavier, while Dollar Hovers Little Changed

Brussels Playbook – Politico
Japan deal — Trump in Warsaw — Strasbourg brouhaha

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
Global Bond Rout Sends S&P Futures, European Stocks Sliding

Frontrunning – ZH

FX Update – TF
Markets are mulling important US data through the end of the week the ECB minutes later today and the geopolitics of what will likely prove a disastrous G20 summit for US president Donald Trump.


FINNISH
Aamukatsaus – Nordea
Fed odottaa, ei ole sopinut ajankohtaa taseen supistamiselle * Tulossa Fedin edustajien puheita * Öljyn hinta kääntyi laskuun

Suomi jää jälkeen: Työikäinen väestö – Roger Wessman