Follow ‘MoreLiver’ on Twitter
EUROPE
EUROPEAN CENTRAL BANK
Euro area
inflation - not out of the woods yet – Danske
Bank
Accelerating
wage growth raises the prospect that the gradual rise in core inflation will
continue. We remain somewhat sceptical, as especially domestically generated
price pressures remain muted. Hence, we expect the ECB to stick to its mantra
and remain patient, prudent and persistent.
Measures of
underlying inflation for the euro area – ECB
Macroeconomic
imbalances in the euro area: where do we stand? – ECB
EURO AREA REFORM
Eurozone: Setting and showing limits to the French-German axis – ING
Eurozone
finance ministers tried to put up a brave front at last night's meeting in
Luxembourg. But there was more disagreement than agreement on how to further
integrate the monetary union
12 European States
Revolt Against Merkel, Macron Plan To Reform Europe – ZH
Editorial: Europe’s Monetary Union Is Still
Unfinished Work – BB
The euro was a bold
creation, but it won’t succeed without further reform.
MIGRATION
EU Seeks Migration Deal in Summit With Merkel's Fate at Stake – BB
Germany may seek
patchwork of bilateral deals to stem influx * EU divided over revamp of rules
for allocating refugees
Divided EU leaders convene for emergency talks on migration – Reuters
EU leaders attempt to
bridge their deep divisions over migration, an issue that has been splitting
them for years and now poses a fresh threat to German Chancellor Angela Merkel.
Italy stand-off looms as migrants left stranded at sea – FT
Boats near Malta and
Sicily refused permission to dock amid hardening stance on refugees
Italy disrupts ‘summit to save Merkel’ on migration – FT
Italy disrupts ‘summit to save Merkel’ on migration – FT
Populist demands to rip
up existing system add to pressure on German chancellor
UNITED STATES
Trade wars and the
targeting of minority groups in the US and some EU countries have strong
historical echoes
OTHER
Yield Outlook: ECB
to keep long yields down for the rest of 2018 – Danske
Bank
Annual Economic
Report 2018 –
BIS
Nomura: Here Is
The Real Reason Behind The "Global Growth Scare" – ZH
Weekly View –
Greece out of the woods, Italy raising doubts – Pictet
The
week gone by saw some good news in Europe in the form of a debt relief
agreement for Greece that ends eight years of bailouts and gives that country
some measure of spending flexibility.
TRADE WAR
Merkel-Trump
Clashes Push Germany to Watershed Moment With U.S. – BB
In
Berlin, the long German embrace of America is loosening * Unsolved differences
lead to ‘most volatile’ moment since 1949
The return of capital controls – FT
If
the aim is to tackle the deficit, go after the capital removed from the Chinese
people and spent on US dollar assets.
Trade War Could
Trigger Global Recession, China and Europe Warn – BB
Both
sides ‘firmly oppose’ unilateralism, Xi aide Liu He says * U.S. to release plan
on restricting China investment in tech
U.S. Plans to Curb Chinese Tech Investments, Citing Security – BB
Tough
stance said to have reluctant support from Mnuchin * Mnuchin says limits aimed
at all countries stealing technology
Trump tariffs
force companies to rework supply chains – Reuters
Trump adviser
Navarro says investment restrictions won't be global – Reuters
Europe to
retaliate if U.S. imposes auto tariffs: France – Reuters
REGULARS
EU Open Rundown – RANsquawk
Market Briefing:
Daily Markets Overview – Yardeni Research
FirstFT Daily
Briefing
– FT
Global
stocks fall, Oprah’s diet win, positive death
WSJ City – WSJ
Trump
Plans to Ratchet Trade Tensions With China, Turkish Lira Jumps on Convincing
Erdogan Win
WSJ Economics – WSJ
Trump
Ready to Block China From Investing In U.S. Tech
Danske Daily – Danske
Bank
Daily Market
Comment
– Marc
Chandler
Trade
Tensions Weigh on Equities, Lift Yen
Brussels Playbook – Politico
Erdoğan
claims victory — Migration stink bomb — Germany and Italy? It’s complicated
Five Things You
Need to Know to Start Your Day – BB
US Open – ZH
Global
Stocks Dive On Fears Of "Irreversible" Trade War; Italian Bonds,
Turkish Lira Tumble
Aamukatsaus – Nordea
Euroalueen ja USA:n inflaatioluvut luvassa perjantaina | Euroopan unionin huippukokous huomion keskipisteenä torstaista perjantaihin | Englannin keskuspankki piti rahapolitiikkansa ennallaan, OPEC päätti öljyn tuotannon lisäämisestä