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Wednesday, July 4

4th Jul - US Holiday



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China Market Monitor: Stocks and CNY taking a hitDanske Bank

EU weighs international talks on cutting car tariffsFT
Brussels moves to head off trade war by involving big exporters

Europe Turns Down Chinese Offer For Grand Alliance Against The USZH

China Changes Time It Starts Trade War Against US To Avoid Striking FirstZH

Weakening growth momentum in China will lead to policy adjustmentsPictet
In response to the weakening of growth momentum and the threat of a trade war with the US, the Chinese authorities are likely to continue to make monetary and fiscal adjustments.


Impact of Volatility Targeting on Assets Quantpedia
Risk assets exhibit a so-called leverage effect, i.e., a negative relation between returns and volatility, and so volatility scaling effectively introduces some momentum into strategies. That is, in periods of negative returns, volatility often increases, causing positions to be reduced, which is in the same direction as what one would expect from a time-series momentum strategy. Historically such a momentum strategy has performed well.



REGULARS
EU Open RundownRANsquawk

Market Briefing: Daily Markets OverviewYardeni Research

FirstFT Daily BriefingFT
EU’s plan B, Barclays’ overreach, how to disconnect

WSJ CityWSJ
Trump Disrupts NATO Choreography, How European Banks Are Hiding Risk

Danske DailyDanske Bank

Brussels PlaybookPolitico
Schnitzel season — Poland stand-off — Château Klaus

US Open ZH
US Futures Rebound Even As Chinese Stocks Resume Slump

AamukatsausNordea
Kiinan yuan vahvistui dollaria vastaan eilen keskuspankin puheiden seurauksena | Riksbank piti rahapolitiikkansa ennallaan, indikoi koronnostoa loppuvuodelle | USA:ssa tehdastilaukset kasvussa

Järjestelmäriskipuskuri voimaanEuro ja Talous
Lisäpääomavaatimuksen tarkoituksena on suojata pankkeja, asiakkaita ja koko kansantaloutta suhdanteista riippumattomilta rakenteellisilta riskeiltä.