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EUROPE
Philippe Legrain: Europe’s
Rocky Recovery – Project
Syndicate
EU Matures to the Need to Deal with Non-Performing Loans – euinside
EU Matures to the Need to Deal with Non-Performing Loans – euinside
Great Graphic: Italy--It
is Not Just about Legacy – Marc
Chandler
U.K. Manufacturing Grows
as Export Orders Climb to Near Record – BB
Euro area: Faster growth
and a promising outlook – Nordea
Euro-Area Economy Steams
Ahead as ECB Waits for Inflation – BB
UNITED STATES
Treasury Quarterly
Refunding Announcement – Marc
Chandler
Options Traders
Aren’t Sweating the Debt Ceiling – WSJ
OTHER
BofA: The longer this continues,
the more it echoes 2004-2007 – ZH
SocGen: "Low Vol
Can Misprice High Yield By Up To 30%" – ZH
Gary Shilling: Six
Things Central Banks Don't Get About Wages, Part 2 – BB
Global Growth Depends on
China's Debt – BB
FX: where is the ECB’s
pain threshold? – Nordea
Greenspan Sees No Stock
Excess, Warns of Bond Market Bubble – BB
REGULARS
Morning Report APAC – TF
Global equities remain pretty strong with both Japan and China likely to
produce strong data this week following in the steps of the US. The AUD still
at around US 80 cents is the one to watch with the Reserve Bank of Australia
likely to keep the benchmark rate at 1.5%
FirstFT Daily Briefing – FT
Scaramucci out, Venezuela opposition targeted, battle over genetic data
WSJ City – WSJ
Brexit to Raise Bank Costs, BP Returns to Profit
“Best of the web” daily
charts – Lukas Daalder
Danske Daily – Danske Bank
Eye-Opener – Nordea
Euro-area GDP and US core inflation to surprise on the upside? * Peripheral
spreads tightened as German yields broadly unchanged * EUR/USD above 1.18 for
first time since early 2015
Morning Markets – TF
A higher Caixin manufacturing PMI for July spread cheer in Asian markets
on Tuesday. Stocks rose in Japan and China and jumped in Hong Kong. Meanwhile
manufacturing is contracting in most of Southeast Asia as shown by a Nikkei
ASEAN manufacturing PMI reading below 50. The Reserve Bank of Australia kept
rates on hold for an 11th consecutive month as expected.
From the Floor – TF
Saxo Bank head of forex strategy John J Hardy says that sterling prices appear
elevated ahead of Thursday's Bank of England meeting, adding that there is
little fundamental backing for the upside surge given Britain's troubled Brexit
talks with the European Union.
Daily Market Comment – Marc Chandler
The Most the Dollar Can Hope for on Turn Around Tuesday is Consolidation
Brussels Playbook – Politico
RIP Scaramucci — France labor reform progress
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
Dow Set To Open Above 22,000 As Global Stocks Levitate Higher
Frontrunning – ZH
FINNISH
Aamukatsaus – Nordea
Yhdysvalloista saadaan yksityisen kulutuksen inflaatio *
Euroalueen pohjainflaatio yllätti ylöspäin * EURUSD ylitti 1,18-tason