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Thursday, May 31

31st May - Tariffs against EU, Italy's government


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EUROPE


  EUROPEAN CENTRAL BANK
Italy turmoil gives Draghi dilemma over ECB action
FT
Central bank hawks want to keep plan to end QE but market jitters could force rethink

The ECB Is Turning 20, But It Can’t Shake Teenage AngstBB
Euro area’s recurrent financial stress reflects systemic flaws * Italy is the latest threat to the currency bloc’s survival

Euro area annual inflation up to 1.9% -
Eurostat
Eurozone inflation rebounds – ABN AMRO
Euro area inflation close to ECB target in May – Pictet
Euro-Area Inflation Picks Up to Fastest in More Than a Year – BB

  SPAIN
Rajoy on the Brink After Party Graft Convictions: Spain Update – BB
Socialist chief Pedro Sanchez set to become Spain's Prime Minister – Reuters
What Spain’s Socialists Want in Pushing Out Rajoy – BB

  ITALY
Three Reasons Why The Italian Panic Is Fading Fast (For Now)
ZH

Italy’s President Asks Populists: Call Me When You’re Ready
BB
Head of state puts premier-designate Cottarelli on standby * Five Star, League leaders float a series of trial balloons

Italy, the ESB and Europe’s Populist Fantasyland
Daniel Lacalle

Why Italy Needs a Euro Exit PlanBarron’s
Every euro country should have one. But Italy’s President seems to think his country should be deliberately unprepared for future crises.

Mark Gilbert: Italy Ain't Over Till the Bond Vigilantes SingBB
They're more worried about a spending free-for-all than Italy leaving the EU.

Italy Populists Surge to Power in Challenge to EuropeBB
Economist Tria named finance minister in new government * Euroskeptic economist Savona named for European affairs

Conte Reveals New Italian GovernmentZH

Italy's anti-establishment leaders revive governing coalitionReuters

UNITED STATES
  TARIFFS
U.S. to impose tariffs on EU steel, aluminum: sources – Reuters
EU Braces for Trump Broadside as Steel Tariff Deadline Looms – BB
Trump Imposes Steel, Aluminum Tariffs On EU, Canada And Mexico – ZH
EU Rages At "Unacceptable" US Tariffs, Vows Retaliation "In Coming Hours" – ZH
EU to Strike Back Against Trump With Levies on Harleys, Bourbon – BB
What Do Steel Tariffs Have to Do With Iran? Plenty – BB
German carmakers hit by report Trump threatens to drive them off U.S. streets – Reuters


OTHER
Six Weeks that Could Shake the World Marc Chandler

China In One PageDanske Bank
IMF positive on reforms and growth outlook

OECD Economic OutlookOECD

Mary Meeker Internet Trends 2018 Kleiner Perkins


REGULARS
Market Briefing: Daily Markets OverviewYardeni Research

FirstFT Daily BriefingFT
Volcker rule changes, Ross rebuffs EU, saving Russian football

WSJ CityWSJ
U.S. Plans to Hit Europe With Tariffs, Fed Backs Easing Volcker Rule

WSJ EconomicsWSJ
The U.S. Moves Closer to a Trade War With Allies

“Best of the web” daily chartsLukas Daalder

Danske DailyDanske Bank

Daily Market CommentMarc Chandler
Don't Confuse Calmer Markets with Resolution

Brussels PlaybookPolitico
Italy crunch time — Tariffs ahoy — Summer reading

Five Things You Need to Know to Start Your DayBB

US Open ZH
Markets On Edge As All Eyes Turn To Spain And Rajoy's No-Confidence Vote

FrontrunningZH


FINNISH
Aamukatsaus Nordea
Suomesta saadaan BKT-luvut | Odotamme euroalueen toukokuun inflaatiolukujen olevan vahvoja | Italian korot selvässä laskussa, Saksan korot nousussa