Race to Replace
Draghi Spurs ECB Calls for Fed-Style Rethink – BB
Finnish
contender for presidency wants a review of strategy * Some warn against
tinkering with mandate despite low inflation
The Eurozone's
Long Depression
– Frances
Coppola
Something
fundamentally changed when the Eurozone crisis struck. As Adam points out, government
net investment completely vanished and has never returned. But it was not
exactly large prior to the crisis. The chart shows that collapsing corporate
investment is the real story of the Eurozone crisis.
Harr’s View: The
future of Europe –why are reforms so hard – Danske
Bank
It
will be difficult to reach a political consensus for a stabilisation function
within the EU to provide fiscal support for countries in a downturn before the
next crisis hits.
Euro Area Macro Monitor: Receding recession risks – Danske Bank
OTHER
An
oral history of the subscription service that changed online shopping forever.
Carmen M. Reinhart:
Explaining Inflation Inertia – Project
Syndicate
Despite
central bankers' concerted efforts, credible price-stability targets have
proved elusive in countries like Argentina, where inflation is soaring, and
Japan, which can't shake the specter of deflation. What can governments do to
influence inflation expectations when central banks’ policies prove
insufficient to the task?
Why Capitalism
Needs Populism
– Project
Syndicate
Globalization,
digital technologies, and other factors have allowed competitive US
corporations to achieve market dominance. If the past is any guide, it is only
right that these "superstar" firms should now be challenged by
grassroots political movements protesting against an unholy alliance of
private-sector and government elites.
MARKETS
The U.S. Stock Market Can’t Stop, Won’t Stop Its Endless Rally – BB
Welcome
to the party that won’t quit even as regular investors are leaving.
Nasdaq
100’s market cap vs S&P 500 approaching dot-com highs * But unlike 2000,
stock prices are more in line with profits
SocGen Slams That "Other" VIX Chart And Reveals The "Most Important Driver Of Long-Term Volatility" – ZH
Is The VIX About
To Explode Higher Thanks To A Record Short Squeeze – ZH
After the Stock
Carnage, Wait for the Yawn – BB
Trade
tensions are no longer the driving force for markets, in the U.S. or China.
US-CHINA TARIFFS
Trump vows tariff
hike on Chinese goods, escalating tension in trade talks – Reuters
Trump
said he would hike U.S. tariffs on $200 billion worth of Chinese goods this
week and target hundreds of billions more soon.
Trump's Trade
Threats Hurt the U.S. More Than China – BB
The
president justifies tariffs by arguing that China will foot the bill. That
theory doesn’t hold up in the real world.
‘Tariff Man Is
Back’: Stock Futures Sink on Trump Trade Tweets – BB
President
says levies to rise on $200 billion in goods * Yearlong trade war looms over
markets near all-time highs
With Two Tweets,
Trump Shatters Historic Calm in Global Markets – BB
Renewed
threat of import tariffs roils stocks, currencies * China’s stocks tumble along
with yuan, while VIX futures jump
Policy by Tweet:
US Announces New Tariffs on China – Marc
Chandler
China stocks
tumble as Trump threatens to raise tariffs – FT
Move
by US president to ramp up pressure on Beijing sends CSI 300 index 6% lower
Market Fallout in
Charts: Investors React to U.S. Tariff Threat – BB
Yuan
climbs with Treasury futures; U.S. stock futures slide * Trump says will lift
China tariffs, impose more import taxes
Why US Democrats don’t want to mention Trump’s (trade) war – FT
US-China
dispute has hit farmers but presidential hopefuls are reluctant to campaign
against it
S&P Futures
Plummet As China Said To Cancel Washington Trade Trip – ZH
New uncertainty as
Trump threatens of new tariffs – Danske
Bank
With
Trump going into the election campaign, we still do not think he would risk a
no-deal outcome that would most likely derail the stock market rally and cause
a dive in economic sentiment.
Trump again
threatens China with higher tariffs – ING
President
Trump has returned to threatening China with higher US import tariffs. This is
part of his risky but potentially rewarding negotiation strategy. We still
expect a US- China trade deal
China still
preparing for talks as Trump cranks up pressure – Reuters
China
said a delegation is still traveling to the United States for trade talks,
after President Donald Trump dramatically increased pressure on Beijing to
reach a deal, saying he would hike tariffs on Chinese goods this week.
What would be the
impact of additional US-China tariffs? – ABN
AMRO
Global
Macro: Direct impact mostly on inflation, but watch financial conditions and
confidence
The Theory That
(Might) Explain Trump’s Trade War – BB
One
school of economic thought argues that bilateral agreements are better than
multilateral ones.
REGULARS
Five Things to
Start Your Day Asia
– BB
Eco Day Asia – BB
RBA
Could Cut, Trump China Threat, `Tone Deaf' Powell * Indonesia’s economy seen
maintaining momentum in first quarter * Singapore pursues ‘promising leads’ for
Asia infrastructure
Five Things to
Start Your Day Europe
– BB
EU Open Rundown – RANsquawk
FirstFT Daily
Briefing
– FT
Brussels Briefing – FT
Europe’s
global act: EU’s unity is increasingly being tested by dynamics both within and
outside the EU
Brussels Edition – BB
Brussels Playbook – Politico
Road
to Sibiu — Political anatomy — Sausage democracy
Danske Daily – Danske
Bank
Risk
sentiment takes a hit from renewed trade uncertainty
Daily Market
Comment
– Marc
Chandler
Trump's
Tariff Tweets Help Investors Discover Volatility
Five Things to
Start Your Day US
– BB
US Open Rundown – RANsquawk
FINNISH
Aamukatsaus – Nordea
Trump uhkasi sunnuntaina Twitterissä nostavansa Kiinan
vastaiset tullit 10:stä 25:een prosenttiin | Julkistusten osalta hiljaisempi viikko
luvassa | USA:n työmarkkinoiden hyvä veto jatkui huhtikuussa