Roundups &
Commentary
Frontrunning – ZH
Overnight: Futures Ramp Higher Ahead Of Key FOMC Announcement – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Midday Express (EU daily
news) – Europa
Daily press summary – Open
Europe
Morning MoneyBeat: Fed Fixation Overblown – WSJ
Morning Bond Update: Bonds feeling better – TradingFloor
Fed and Flash PMIs
Dominate the Week Ahead – Marc
to Market
EUROPE
Pullback in euro area trade surplus as PIGS
continue to rebalance – TradingFloor
Mads Koefoed: A
narrowing trade balance in the euro area in April was led by the peripheral
member countries despite Germany doing its part, as usual, to boost exports. In
the big scheme of things the peripherals are on the right path with rebalancing
continuing.
Mervyn King on the solutions to the eurozone
crisis – Open
Europe
The FT has just posted
an interesting and lengthy interview with outgoing Bank of England Governor Mervyn King (pictured), conducted by
the FT’s Martin Wolf.
ASIA
China's shadow banking system is out of control and under mounting stress as
borrowers struggle to roll over short-term debts, Fitch Ratings has warned.
OTHER
G8 — plenty to worry about – MacroScope
/ Reuters
Roundup of the current
themes for the beginning week
Time to take basic income seriously? – alphaville
/ FT
Paul Krugman is
getting serious about the effects of technology and robots on the economy. He’s
made noises about this theme before, but this time he’s taking things a bit
further by offering a potential solution to the more sour consequences of the
new industrial revolution. If the fight is between capital and labour, and
capital is winning, it seems subsidies in the form of some basic type of income
may be called upon.
FX Forecast Update - June: EM sell-off nearing
the end – Danske
Bank (pdf)
EMERGING
JP Morgan: EM companies face long profits
squeeze – beyondbrics
/ FT
(Except India) EM
governments are mostly in good shape to withstand tighter financial conditions.
But that doesn’t mean nothing’s changed in the EM outlook – EM companies are
under pressure.
Is the correction over? – Humble
Student
The recent bout of
volatility in the capital markets owes much to the turmoil seen in the emerging
markets. Both emerging market bonds and equities have recently been hammered…
By the end of the week, it appeared that the storm that was battering the
markets was abating
G-8
SUMMIT
G8 summit live coverage: Syria
dominates as leaders gather – The World / FT
EU tax havens under pressure as
leaks go public – euobserver
EU-linked tax havens
have come under increased pressure to reveal who owns what ahead of a meeting
of the G8 leading world economies.
UK set up fake Internet cafes to spy on G20
officials – euobserver
A G8 summit kicks off
Monday (17 June) in Northern Ireland amid embarrassing revelations that
Britain's intelligence services set up fake Internet cafes to spy on its allies
at international summits in London in 2009.
Market turmoil forces G8 leaders to focus on
global economy – FT
Turmoil in financial
markets is once again overshadowing a Group of Eight summit, turning world
leaders’ attention away from trade, tax and transparency and back to the bumps
on the road to recovery.
BizDaily: Tax on the agenda at G8 summit – BBC
(mp3)
Business Daily comes
from the town of Enniskillen in Northern Ireland which is playing host to leaders from the
world's eight wealthiest nations. The G8 Summit brings together the planet's
elite to discuss the important issues of our time. Top of the business agenda
is tax. How do you get the world's biggest companies to play the game fairly?
Senator Carl Levin discusses Apple's tax obligations.
Britain's treasure
islands make G8 tax test for Cameron – Reuters
G8 to say risks to
economy lower, reforms needed: draft – Reuters
G8 to shy away from
naming and shaming tax avoiders: draft – Reuters
FINNISH
Björn
Wahlroos: EU:n liittovaltio on pahin uhka Suomelle – Aamulehti
Stubb
syyttää amerikkalaisnobelisteja vääristä neuvoista Kreikalle 2009 – verkkouutiset
Euroeron
hinta – Pekka
Tiusanen / US Puheenvuoro