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EUROPE
ECB cannot come to
Italy's rescue without EU bailout: sources – Reuters
ECB Hands Italy An
Ultimatum: 'Obey EU Budget Rules Or We Won't Save You' – ZH
UNITED STATES
US Treasury FX
Report Preview: From trade war to currency war? – ING
The
US Treasury is set to release its FX report anytime now. While no major US
trading partner meets the technical criteria to be labelled a currency
manipulator, there are risks the US administration finds a loophole. Should the
US opt to take the trade war into the currency arena, a market positioned long
US dollar may quickly bail on the greenback
US inflation
remains modest, but tariffs will soon make themselves felt – Pictet
CPI: another
restrained reading in, but trend still near 2% – Daiwa
OTHER
The
“War” with China Is Spreading – Ray Dalio
MARKET ROUT
El-Erian: How to
Think About the Market Sell-Off – BB
The
Fed’s liquidity injections no longer underpin asset prices, leaving a greater
role for fundamentals.
That was nuts. Is
this the crash?
– FT
Everybody
Pretends to Understand the Market
Explainer: What
are risk-parity funds? – Reuters
Stop Panicking
About Stock-Bond Correlations – BB
Rising
U.S. yields probably spooked equity markets. But when the selling truly
intensified, investors flocked to Treasuries once more.
REGULARS
EU Open Rundown – RANsquawk
Brussels Edition
Daily
– BB
Brussels Briefing – FT
Weighing
up the options for Seehofer: If CSU does as badly as polls suggest, he will
come under enormous pressure to resign
Eco Day Europe – BB
Trump
Blasts the Fed, Brexit Talks, Duterte's Revenge
FirstFT Daily
Briefing –
FT
WSJ Daily
Economics
– WSJ
Global
Markets Dive | ‘I Think Fed Has Gone Crazy’ | To Catch a Thief
Danske Daily – Danske
Bank
Daily Market
Comment –
Marc
Chandler
Brussels Playbook – Politico
Brace
for Brexit impact — Cars and fish fingers — Liberals’ Macron conundrum
Five Things You
Need to Know to Start Your Day – BB
Eco Day US – BB
Trump
Slams Fed, Mnuchin Plays Down Rout, London Houses
US Open – ZH
"It's
Just Beginning": US Futures Plunge As Global Rout Hammers Asia, Europe
US Open Rundown – RANsquawk
Tänään tulossa Ruotsin ja USA:n inflaatiot, myös EKP:n
kokouksen pöytäkirja julkaistaan | Norjan inflaatio säilyi vahvana, Tanskan
inflaatio puolestaan yllätti alaspäin | USA:n osakemarkkinat reippaassa
laskussa