EUROPE
Germany asks
difficult questions in the EU migration debate – FT
An
article in Die Zeit ruffles feathers among liberals and hardliners alike
Eurozone house
prices set to rise further – ABN
AMRO
House
prices in the eurozone have risen non-stop since the start of 2015 * The ECB’s
expansionary monetary policy and easing bank lending standards have supported
the housing market, but demand for mortgage loans has weakened during the past
few quarters * Still, ongoing increases in household disposable income should
support further robust rises in house prices
Editorial: Europe
Misfires on Google
– BB
A
big regulatory penalty will solve no problems and create plenty of harm.
Hungary defends
anti-migrant stance in face of EU action – FT
‘Perspective
is very much different in Brussels and Budapest,’ says Orban’s government
Hungary to quit U.N. migration pact shunned by Washington – Reuters
EUROPEAN CENTRAL BANK
ECB preview: The
meaning of summer
– ING
For
next week’s meeting, some ECB veterans might long for the good old days when
the bank's summer meeting was held in the form of a teleconference. With little
news, ECB President Mario Draghi will simply reiterate the main message of the
June meeting
ECB Watch:
Holiday!
– Nordea
The
ECB defined the near-term path for its monetary policy already in June. The
July meeting is not going to offer much new information, though some ECB
members found Draghi’s communication too dovish and will be pushing for slight
modifications.
Still no uptrend
in Euro core inflation – ABN
AMRO
OTHER
Metal price
outlook: When the going gets tough… - ING
Escalating
trade tensions and fears about the impact on global growth, and with it metals
demand, have wiped 15% off the industrial metal index from its June peak. But
keep calm, we expect the rhetoric to die down after the US mid-terms and prices
to recover
Crude oil: Free
fallin’-
ING
An
escalation in the trade war, supply returning from Libya and Nigeria and the
potential for the US to tap its emergency Strategic Petroleum Reserve, have all
weighed heavily on the market. While we remain comfortable with our current
forecast for weaker prices, we do believe the market remains vulnerable
CHINA
China: Central
bank finds different way to cut rates – ING
The
auction of government deposits at commercial banks reveals that the central
bank is cutting interest rates, but not through its seven-day policy rate
China Launches
Quasi QE To Support Banks And Sliding Bond Market – ZH
As China Suffers
Its Biggest Bankruptcy Of 2018, The PBOC Finally Panics – ZH
China’s Currency
Catch-22
– Project
Syndicate
As
the Trump administration ratchets up tariffs on Chinese goods, many observers
have begun to wonder if China will respond with a strategic currency
devaluation to boost the competitiveness of its exports. But, despite despite
possessing a powerful financial and monetary arsenal, Chinese policymakers have
no good options.
TRADE WARS
EU Prepares to Retaliate Over Car Tariffs Before Trump Talks – BB
The
bloc is preparing a new list of US goods to hit with protective measures.
Trump’s Damage to International Trade Will Take Years to Repair – BB
America’s
allies no longer trust Washington and are making free-trade deals that leave
the U.S. out.
EU mulls coal, pharma, chemicals tariffs if U.S. hits cars: Wiwo – Reuters
China says U.S. blaming Xi for blocking trade deal is 'bogus' – Reuters
Trump Faces Growing Storm on Car Tariffs as Lobbying Builds – BB
Commerce
is holding a public hearing Thursday over auto probe * There’s nearly universal
opposition to U.S. imposing auto duty
REGULARS
EU Open Rundown – RANsquawk
FirstFT Daily
Briefing
– FT
Trump
flip-flops, banks back in business, Stirling Prize shortlist
WSJ City – WSJ
Trump
Renews Auto Tariffs Threat, When Does a Trade Spat Become a Trade War?
Danske Daily – Danske
Bank
Daily Market
Comment
– Marc
Chandler
Greenback
Extends Gains
Brussels Playbook – Politico
Balkan
up — News from the (trade) war frontline — Juncker’s legacy
Five Things You
Need to Know to Start Your Day – BB
US Open – ZH
Global
Stocks, Futures Slide As Yuan Crashes
Aamukatsaus – Nordea
Britannian kesäkuun inflaatioluvut herättivät epäilyksiä
elokuun koronnoston suhteen | Tänään ei vuorossa merkittäviä julkaisuja | Kiinan
yuanin ja dollarin välinen kurssi on noussut yli 6,70 rajan