EUROPE
Leonid Bershidsky:
Angela Merkel Isn't Ready to Move to Brussels – BB
There
are good reasons politicians want Germany's outgoing chancellor to take up a
top EU job. Trouble is, it would make no sense for her.
Europe’s
‘Nonsense’ Output Gaps Hide a Big Deflationary Risk – BB
Economists
say some figures for Spain and Italy “strain credulity”.
EU Elections: For
many Brussels seems too far away – ING
Most
Europeans don't expect Brussels to help them with concerns such as ageing,
falling ill and purchasing power issues. Instead, they would like transnational
topics such as border security, Schengen reform and climate change put back at
the heart of discussions. The chasm between the EU's role and people's concerns
is a reason for rising Euroscepticism
French far-right
tops poll, EU vote turns into Le Pen/Macron duel – Reuters
ECB: wait-and-see – ING
There
were few surprises in the minutes of the European Central Bank's April
Governing Council meeting. The central bank pretty much remains in wait-and-see
mode. The new series of targeted longer term refinancing operations (TLTROs)
could become a way to fine-tune monetary policy, while a tiered deposit rate
scheme is still a long shot
Europe Daily – ABN AMRO
ECB
April meeting account signals concern about inflation expectations * Signs that
export weakness is impacting domestic economy
OTHER
Trump set to
unveil $16bn aid package for US farmers – FT
US
president looks contain damage from trade war with China ahead of 2020
elections
Karl W Smith: How
This Trade War Will Remake the World – BB
As
China and the U.S. form competing coalitions, other nations and businesses will
be forced to choose.
Leonid Bershidsky:
U.S. and China Go Their Own Ways With AI – BB
Western
democracies want algorithms that are transparent and can be appealed to humans.
That's a better approach.
Mark Gongloff: The
Trade War’s Impact Comes in All Shapes and Sizes – BB
China
and the U.S. duke it out, and there could be some unexpected global
ramifications.
REGULARS
Five Things to
Start Your Day Asia
– BB
Eco Day Asia – BB
Fed
Not Rushing, Xi's New ‘Long March,’ Trump End Game * Central banks urged to
join together to lift inflation targets * New podcast: Is Australia’s record
stretch of growth at risk?
Five Things to
Start Your Day Europe – BB
EU Open Rundown – RANsquawk
FirstFT Daily
Briefing –
FT
Brussels Briefing – FT
Rutte’s
challenge to upstart nationalist Baudet backfires: Thierry Baudet looked more
comfortable than the prime minister in a testy 65-minute debate
Brussels Edition – BB
Brussels Playbook – Politico
Bumper
Election Day edition — Juncker vs. ‘stupid nationalists’ — Inside Dutch, Irish
votes
Daily Market
Comment –
Marc
Chandler
Trade,
Brexit, and Disappointing Flash PMIs Weigh on Global Markets
Five Things to
Start Your Day US
– BB
US Open Rundown – RANsquawk
US Open – ZH
"Sea
Of Red": S&P Futures, Bond Yields Tumble As All Out Trade War Becomes
"Base Case"
Eco Day US – BB
China
Response, Pessimistic Outlook, Fed Patience * China puts ball in U.S. court,
seeks action before more talks * Full-blown trade war quickly shifting from
risk to baseline