Follow ‘MoreLiver’ on Twitter
EUROPE
Nominal
devaluation and real wages - Alberto
Bagnai
Tim
Worstall: Not Just Greece, Everyone Should Leave The Euro;
There's No Point In Having It At All – Forbes
UK’s move away from the EU will spur
ever louder calls for change elsewhere
Introductory
statement by Mario Draghi – ECB
Hearing at
the European Parliament’s Economic and Monetary Affairs Committee
Euro area
international trade in goods surplus €24.9 bn – Eurostat
Euro area
trade surplus jumps to record-high in April – TF
GREECE
Greece’s new plan: leaked weekend
counterproposal – FT
Peripheral
Bond Risk Surges As Greek Banks Collapse – ZH
A credible
deal will require difficult decisions by all sides – vox
Some of the
Greek proposals for saving money – FT
UNITED STATES
FOMC
preview – Danske
Bank
Mixed
signals but Yellen should be more confident
Fedspeak
Cheatsheet – WSJ
Fed
Officials a Bit More Upbeat Ahead of Policy Meeting This Week
DATA
NAHB: Builder
Confidence increased to 59 in June – Bill
McBride
Fed: Industrial
Production decreased 0.2% in May – Bill
McBride
US
Industrial Production Weakest Since January 2010 – ZH
OTHER
KVP's
Macro Take: Grexit has a Jurassic dimension – TF
The US Citi
Economic Surprise Index is finally trending back up - which is a “a phew” for
those (like me) in the hiking camp. But what could possibly throw a curve ball
at the Fed's plan? It's Greece, of course, the country that nobody
can predict will be in or out of the Eurozone
Yield
Forecast Update: Perfect bond storm to ease – Danske
Bank
FX
Forecast Update - Final stage of USD rocket – Danske
Bank
REGULARS
Daily Central Banks – WSJ
Hilsenrath’s
Take: For Clues on Number of 2015 Rate Hikes, Watch the Fed’s Dots * Fed Hones
Tricky Message as It Nears Boosting Rates * Fed Officials Cheat Sheet * EU-Greece
Talks on Bailout Break Down, Setting Up Showdown * Bank of Russia Cuts Key Rate
To 11.5%
Daily Macro – WSJ
A
weak start of the week for global equities is being blamed on a breakdown in
negotiations between Greece and its creditors.
Maybe. After all, Italian and Spanish sovereign debt underperformed in early
trading Monday, suggesting investors are building in a slight contagion risk
premium.
Morning MoneyBeat Asia – WSJ
U.S. Stocks Lightly Jogging
in Place
Morning MoneyBeat Europe – WSJ
Stocks
Tipped to Wilt as More Greek Talks End Fruitlessly
The
Fed’s Back in the Spotlight
Danske Daily – Danske Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Plan
B for Greece For EUR rates, the best place to go long is the short end Easing
priced out of EUR/SEK
Morning Markets – TF
The
trading week opens with Greece on the brink, EU trade
data ready to bolster the case for Europe's recovery and a slew
of afternoon reports from the US to tell investors
whether that September rate hike is likely to materialise.
Daily FX Comment – Marc Chandler
Dollar Gains
Limited Despite Greek Talk Failure and FOMC Looming
Daily Shot – TF
The
markets are definitely reacting negatively to the lack of a deal between Greece and its creditors.
European
politicians round on Greece as talks break down once again * Cameron to argue
that free movement reform will reduce ‘brain drain’ * Big asset managers
planning to leave UK in case of Brexit * Renzi: We have a ‘Plan B’ ready if EU
doesn’t show solidarity on refugees * US House of Representatives votes down
package aimed at facilitating trade deals including TTIP * Spain’s chances of
landing Eurogroup job are fading * German industrialists raise concerns over
ECB bond-buying
US Open – ZH
European
Stocks Slide, Greece Tumbles But US BTFDers Emerge After Collapse In
Greek Bailout Talks
Frontrunning – ZH
FX Update – TF
This
week has four central bank meetings, two central bank meeting minutes, and a
potentially pivotal Euro Group meeting Thursday/Friday that may give a fuller
sense of whether Greece will give in to its
creditors’ demands ahead of the effective June 30 deadline.
From the Floor – TF
Bonds
have rebounded after yesterday's dramatic withdrawal by the IMF from the Greek
debt talks.
FINNISH
Aamukatsaus – Nordea
Fedin itseluottamus kasvaa | Venäjä: Koronleikkaus
on laiha lohtu | Keskuspankit valokeilassa tällä viikolla
DATA
Vaihtotase alijäämäinen Q1 – Tilastokeskus
Teollisuuden liikevaihto Q1 supistui vajaat 3% YoY – Tilastokeskus
Rakennusyritysten liikevaihto Q1 +5,1% YoY – Tilastokeskus
Palvelujen liikevaihto Q1 +4,4% YoY – Tilastokeskus
Koko kaupan myynti huhtikuussa -3,3% YoY – Tilastokeskus
Kansantalouden tuotanto laski huhtikuussa – Tilastokeskus
Inflaatio toukokuussa -0,0% – Tilastokeskus