EUROPE
The 2019 European
Parliamentary elections – Open
Europe
Although
their practical consequences for the functioning of the EU are limited, these
elections will be an important barometer of European public opinion on the
state of the EU
Stefan Gerlach: The
ECB Song Contest?
– Project
Syndicate
Choosing
the next president of the European Central Bank should not be like picking the
winner of the Eurovision Song Contest. Instead, Europe should ask which
criteria candidates must satisfy to be an effective ECB president, and then
search for the person who best meets them.
OTHER
Why targeting
productivity is a bad idea – Frances
Coppola
Barry Eichengreen:
The Return of Fiscal Policy – Project
Syndicate
Public
debt is not a free lunch in an economy close to full employment. But when
investment demand tends to fall short of saving, as it does when monetary
policymakers are unable to push inflation higher to reduce real interest rates,
there is a risk of chronic underemployment – and a stronger argument for
deficit spending.
Consumer
Insolvencies in Canada Climb to Highest in 8 Years – BB
An
indication record debt levels may be catching up with an increasing number of
households.
TRADE WAR
Markets Tumble As
China Strikes Back, May Dump "Some Treasuries" – ZH
Global markets
reel as US-China trade war escalates – FT
Beijing
to raise levies on $60bn in US goods in defiance of warnings from Donald Trump
Mark Gongloff: Trump’s
Trade War Keeps Defying the Optimists – BB
Just
when we thought we were out, he pulls us back in.
Karl W Smith: If
China Sells Its U.S. Bonds, Trump Will Benefit – BB
A
selloff would result in a weaker dollar, which would help reduce the U.S. trade
deficit with China.
Noah Smith: The
Grim Logic of Trump’s Trade War With China – BB
Maximizing
American prosperity probably isn’t the goal.
Tyler Cowen: China
Loses More From This Trade War – BB
It
is vulnerable because it is a much poorer country with more fragile political
institutions.
Trump to meet Xi in
June–
Reuters
Here Are the
European Stocks Most Exposed to U.S.-China Tensions – BB
REGULARS
EU Open Rundown – RANsquawk
FirstFT Daily
Briefing
– FT
Brussels Briefing – FT
Brussels Playbook – Politico
Romania
under fire — Kurz on the campaign trail — Tories on the brink
Danske Daily – Danske
Bank
Trade
war deadlock. G20 next month may prove crucial
Daily Market
Comment
– Marc
Chandler
US Open Rundown – RANsquawk
US Open – ZH
S&P
Futures, Yuan Tumble; Dollar Surges As US-China Turns Ugly
FINNISH
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