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EUROPE
Viktor Orbán
cements place in Europe’s new center right – Politico
Conservative
mainstream is split over Hungarian PM — but numbers are on his side.
Joseph Stiglitz: How
to exit the eurozone
– Politico
Italy
is right to consider leaving the EU’s common currency area.
Will Austria act
as the ‘bridge-builder’? – ING
On
1 July, Austria took over the six-month rotating presidency of the European
Council. Officially, the Austrian focus will be on EU security,
competitiveness, and stability but it's an open secret that the main emphasis
will be on migration and the protection of the EU's external border
ITALY
Italy's Salvini
Vows To Create Pan-European Association Of Nationalist Parties – ZH
The "Doom
Loop" Makes A Thunderous Return: Guess Who Just Bought A Record Amount Of
Italian Bonds
– ZH
EU SUMMIT
Summit
"Dealbreaker" Emerges Hours Before End – ZH
Eurozone: And it
does move
– ING
In
another nightlong meeting, European leaders agreed on an initial deal to shake
up immigration rules. The meeting was clearly too energy-consuming to agree on
any eurozone reforms
4 takeaways from
‘Mother of All EU Summits’ – Politico
The
migration crisis hogged leaders’ attention at an exhausting — and sometimes
frustrating — gathering.
GERMANY
Judgment Day for Merkel's Bloc as Migration
Divide Hardens – BB
Merkel’s CDU and
Bavarian CSU to hold last-ditch talks Monday * Merkel coalition’s parliamentary
majority hangs in the balance
Merkel faces migration showdown with coalition
partners – FT
Interior minister offers
to resign and issues ultimatum to German chancellor
As Merkel’s Power Drains, the Threat to Europe
Grows – BB
The nativism that has
swept much of the continent imperils the German leader and the whole EU
project.
Merkel Says She’s Pushing to Avoid Party Breakup Over Migration – BB
German chancellor comments
as Bavarian sister party meets * Her fourth-term parliamentary majority hangs
in the balance
Merkel Sees Willingness to Defuse Her Coalition
Clash – BB
Bavarian CSU leader’s
offer to resign looms over upheaval * CDU, CSU officials signal opportunity to
overcome differences
OTHER
Mexico's Peso
Weakens as Investors Weigh a Leftist Presidency – BB
Andres
Manuel Lopez Obrador poised to claim historic victory * Peso reverses gains as
early results show broad mandate
JPMorgan: More
Pain From China, "2018 Looking Increasingly Like 2015" – ZH
Morgan Stanley: A
"Vicious Cycle" Emerged, Will Only End When Stocks Dive – ZH
Expecting
further fallout from trade wars, Morgan Stanley now sees many ways to position
for escalation, predicting that tech will be the sector most affected by the
emerging "vicious cycle"
Morgan Stanley:
"Something Is Afoot In Global Macro Markets" – ZH
No
longer can borrowers, increasingly non-financial corporations since the
financial crisis, take out a loan at 2017 prices.
Billionaire Paul
Tudor Jones: Trading, Career and Philanthropy – Youtube
An
interview with billionaire hedge fund manager and founder of Tudor Investment
Corporation, Paul Tudor Jones. In this interview, Paul discusses his career in
trading and his views on the market. Paul Also talks about his philanthropic
efforts.
TRADE
WARS
Exclusive: A leaked Trump bill to blow up the
WTO – BB
EU warns of $300bn hit to US over car import
tariffs – FT
Brussels responds to
Trump’s threat, warning of global retaliation and full-blown trade war
Morgan Stanley: Markets
Start Taking Trade War Seriously – ZH
Congress is About
to Give Trump More not Less Trade Discretion – Marc
Chandler
REGULARS
EU Open Rundown – RANsquawk
Market Briefing:
Daily Markets Overview – Yardeni Research
FirstFT Daily
Briefing –
FT
Mexico
election, Brussels trade retaliation, ‘ghosting’ at work
WSJ City – WSJ
Merkel
Back on the Brink Over Migration, Trump Says Cars Are Biggest Trade Weapon
WSJ Economics – WSJ
The
U.S. Economic Expansion Enters Its 10th Year…How Much Longer Does It Have?
Danske Daily – Danske
Bank
Daily
Market Comment
– Marc
Chandler
Third
Quarter Begins With a Thump
Brussels Playbook – Politico
Showdown
in Germany — Global trade for beginners — Trump and Brexit
"It's
Not A Happy Start": Second Half Opens With Sea Of Red Across Global
Markets
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