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EUROPE
The transition to
a banking union for the EMU – voxeu
A
key issue is how to prioritise risk sharing and risk reduction. This column
examines three possible approaches, describing the respective transition
scenarios and analysing the consequences for banks during the transition phase.
None of the scenarios is optimal for all countries, but waiting too long may
lead to solutions needing to be found under the pressure of a new crisis.
EU’s Barnier Says
Brexit Deal With U.K. ‘Realistic’ in 6-8 Weeks – BB
Pound
jumps though Barnier says several issues are outstanding * A deal will then go
to Parliament, where it faces opposition
Italy's New Rulers Don't Come for Free – BB
Borrowing
costs are way beyond “fair value” because of fiscal doubts. It’s hard to see
how growth can save the day.
ECB may express
optimism about wages
– ABN
AMRO
SWEDEN
Swedish election -
Weak government is coming – Danske
Bank
Alliance
and Red-Green blocks equal in size - SD has strong veto power * New government
will be a historically weak one - first challenge to pass budget * The
political risk premium in EUR/SEK may not go away just yet.
Sweden braces for
political uncertainty as far right makes gains – Politico
Anti-immigrant
party falls below expectations but still hits historic high in Sunday’s
election.
Sweden: A little
bit less lagom
– Nordea
Preliminary
election results suggest that it may take long before a new government is in
place. Likely it will be a weak government with difficulties passing reforms.
We expect no changes in fiscal stance. Monetary policy should also be unaffected.
Sweden Election
Playbook
– Politico
Dead
heat — Far right’s mixed night — Overseas vote crucial
Sweden Headed for
Political Gridlock After Inconclusive Election – BB
Leonid Bershidsky:
Sweden’s Centrists Can Celebrate, But Not Too Hard – BB
But
the vote was a warning to centrists to do more to integrate immigrants.
The Campaign
Against Europe Just Got a Boost From Swedish Voters – BB
Sweden
Democrats set to post biggest gains in Sunday’s vote * Anti-immigrant,
nationalist groups look for succcess across EU
What next for
Sweden after election nailbiter? – The
Local
Editorial: The
Center Retreats in Sweden – BB
The
anti-immigrant Sweden Democrats gained ground in Sunday’s election
UNITED STATES
US employment data
confirms strength of economy – Pictet
OTHER
THE "BIG BOND
SHORT" ILLUSION –
Kevin Muir
Turkey's economy
doesn't need higher interest rates – FT
But
international investors want them anyways.
Mixed signals from
Chinese PMIs
– Pictet
El-Erian:
Emerging-Markets Calm Is Likely to Give Way to More Volatility – BB
Neither
Argentina nor Turkey has taken the steps to place their economies on a path to
stability.
REGULARS
EU Open Rundown – RANsquawk
Brussels Edition Daily – BB
FirstFT Daily
Briefing
– FT
WSJ Daily Economics – WSJ
Trade,
Tariffs, Apple and Inflation. It’s Going To Be Another Busy Week
Danske Daily – Danske
Bank
Daily Market
Comment
– Marc
Chandler
Initial
Extension of Euro and Sterling Losses Stall
Brussels Playbook – Politico
Sweden
deadlock — Guy Verhofstadt wins Macron prize — Maldives affair
Five Things You
Need to Know to Start Your Day – BB
US Open – ZH
S&P
Futures Bounce As World Stocks Hit By Longest Losing Streak Since Jan 2016
US Open Rundown – RANsquawk
Aamukatsaus – Nordea
Ruotsidemokraattien kannatus jäi odotuksia alemmaksi |
EKP, Englannin keskuspankki ja Turkin keskuspankki kokoustavat torstaina |
Tällä viikolla saadaan useita inflaatiojulkistuksia, Norjan luvut vuorossa
tänään