The
target is irrelevant to the specific military needs of the country and the
alliance.
By
committing to a come-what-may strategy, Britain’s new leader could force Europe
to compromise.
Eurozone:
no summer relief for the economy – ING
The
Economic Sentiment Indicator declined from 103.3 to 102.7 in July. As industry
indicates an alarming drop in production, concerns about growth in the second
half of the year persist
Germany:
Inflation adds to arguments for ECB action in September – ING
Lots
of data noise coming out of Germany but inflation, as measured by European
standards, has dropped, providing further arguments for ECB action in September
Eurozone
recovery flat
– ABN
AMRO
Eurozone economy close to stagnation in Q2 * Core inflation to fall back
Eurozone economy close to stagnation in Q2 * Core inflation to fall back
EUROPEAN CENTRAL BANK
Ashworth: Mario Draghi Brings Europe No Sunshine – BB
The
economy needs stimulus, right here, right now. Instead we got a discussion
about a discussion.
ECB
will probably deliver new monetary support in September * Germany sees no crisis,
says it won’t budge on fiscal rules
The
ECB buying equities: SNORE – FT
Hans-Werner
Sinn: The End of ECB Restraint – Project
Syndicate
Outgoing
ECB President Draghi has indicated that the bank is planning a new round of
aggressive monetary stimulus. Such measures will most likely have negative
economic consequences – not least by further increasing the cost pressures
weighing down German industry.
UNITED STATES
The
US economy is experiencing its longest expansion on record, but weaker external
demand and trade tensions are risks to the outlook. A benign inflation backdrop
allows the Federal Reserve room to offer support and cut rates by 25bp next
week
Editors:
Don’t Expect the Fed to Do It All – BB
If
its worst fears about the economy prove justified, monetary policy won’t be the
answer.
REGULARS
Five
Things to Start Your Day Asia – BB
Eco
Day Asia
– BB
Rate
Cuts' Dark Side, Fed Urged Go Big, China Struggles * U.S. more than doubles
borrowing estimate on debt-limit’s lift * Divisions high, deal hope low as
U.S.-China trade talks resume
Five Things to Start Your Day Europe – BB
EU
Open Rundown
– RANsquawk
FirstFT
Daily Briefing
– FT
Brussels
Playbook
– Politico
Putin,
you have a problem — With friends like these — Germany vs. the ECJ
Danske
Daily
– Danske
Bank
Eco
Day Europe
– BB
French
Growth Slide, Great Rate Debate, U.S.-China Chat * French economic growth data
adds to weak euro-area figures * Central banks mull interest rates amid
government pressures
Daily
Market Comment
– Marc
Chandler
Five
Things to Start Your Day US – BB
US
Open Rundown
– RANsquawk
Eco
Day US
– BB
U.S.-China
Chat, Great Rate Debate, AMLO Talks Success * Housing affordability crisis
spreads to the U.S. heartland * AMLO says he’d like Mexico to cut rates to
boost growth
FINNISH
Aamukatsaus – Nordea
Japanin keskuspankki (BoJ) piti
rahapolitiikkansa muuttumattomana ja trimmasi inflaatioennusteitaan | BoJo ja
hänen brexit-kabinettinsa alkavat päästä vauhtiin | Tänään saadaan
inflaatiolukuja USA:sta ja Saksasta