TOP MARKETS NEWS: Week 06/03 – 06/09

Weekend 06/08 & 06/09

Mexican Deal Confusion: Trump Doubles Down On Farm Purchase Claim, Mexico Denies – Zerohedge
If The Fed Cuts Rates Next Month, This Is What Happens Next  – Zerohedge
Trump: Deal Reached With Mexico “To Stem The Tide Of Migration”, Tariffs Suspended – Zerohedge


Friday 06/07

Non-farm: US economy stumbles by creating just 75,000 jobs in May – business live – guardian

Consumer Credit Jumps The Most Since November As Credit Card Debt Soars – Zerohedge
Huge Payrolls Miss: Only 75,000 Jobs Added In May As Wage Growth Slows – Zerohedge
Bundesbank slashes German growth forecasts – cnbc

Germany: Horrible start to the second quarter – ING – fxstreet



Thursday 06/06

Business Live – guardian
Shanghai, Hong Kong slide as energy stocks fall amid fear of oil glut – scmp

Peso, Futures Slide As Pence Confirms “At This Point, Tariffs To Be Imposed Monday” – Zerohedge
Value stocks are trading at the steepest discount in history – Marketwatch
Dow rallies 180 points for its fourth-straight gain on hopes US-Mexico trade talks making progress – cnbc

U.S. trade deficit narrows; gap with China widens – Reuters
ECB Watch: Ready to act with more QE and rate cuts – nordea
ECB Cuts Long-Term GDP Growth, Inflation Forecasts – Zerohedge
ECB Extends Forward Guidance, Will Keep Rates Unchanged Until First Half Of 2020, Announces TLTRO Terms – Zerohedge

Mexico sovereign debt rating cut one notch by Fitch – Marketwatch
German Factory Orders Unexpectedly Gain in Sign of Resilience – Bloomberg
Trump Threatens China With Tariffs On “At Least” Another $300 Billion Of Goods  – Zerohedge
Nifty, Sensex end lower after RBI cuts rates – Reuters
Goldman Sachs and UBS execs warn: Markets are ‘overpricing’ Fed rate cuts – cnbc
Millennial Net Wealth Collapses, Study Finds – Zerohedge
Fiat Chrysler withdraws merger offer for Renault, blames French politics – Reuters
China pushes back accusations, releases report on trade benefits for US amid trade war – globaltimes
Huawei denies report that orders to key suppliers cut after U.S. blacklisting – Reuters
China’s PBOC Injects $72 Billion to Roll Over Medium-Term Funds – Bloomberg



Wednesday 06/05

EC threatens Italy with disciplinary action over its debts – business live – guardian
China, Hong Kong markets holding gains, setting aside ongoing US-China trade feud – scmp

Which States Will Be Hit Hardest by Trump’s Tariffs on Mexico – nyt
Beige Book Signals “Modest Improvement” In US Economy – Zerohedge
EUR: 3 Things to Expect from ECB – bk
Breakingviews – Hadas: Shaky assumption underpins debt demand – Reuters
Stocks, Yields, Dollar Jump After Grassley Says Tariff Deal With Mexico Coming Thursday – Zerohedge
US Services Growth Weakest Since Feb 2016, Flashes “Worrying Signs For Economy” – Zerohedge
Trade war could wipe $455 billion off global growth next year, IMF warns – cnbc
ADP Employment Growth Crashes To 9 Year Lows – Zerohedge
Traders Price in an ECB Rate Cut as Economic Sentiment Crumbles – Bloomberg

Why Trump’s pivot to using tariffs as a political weapon is so dangerous for the economy – cnbc

EU says disciplinary action is warranted for Italy over its rising debt – cnbc

UK ‘bad bank’ repays last of crisis-era loans – Reuters

World Bank warns of weaker global growth – bbc

Caixin: China’s service sector slowed in May – Marketwatch
Australia’s growth slows to weakest in a decade – Marketwatch



Tuesday 06/04

Business Live – guardian
China, Hong Kong markets falling, with pork and pharmaceuticals big sector losers – scmp

Chinese Media Dashes Trade-Deal Hope: “China Softening Stance Is Useless Speculation” – Zerohedge
China is ramping up its own chip industry amid a brewing tech war. That could hurt US firms – cnbc
Global Manufacturing PMI Contracts To 7-Year Low – Zerohedge
Dovish Powell Slams Yields, Dollar As He Opens The Door For More “Unconventional” Measures – Zerohedge
US Factory Orders Slowest Growth Since Trump Elected – Zerohedge

FANG stocks just lost nearly $130 billion in market cap, and chart points to more pain – cnbc
UK Retail Sales Crash By Most On Record – Zerohedge
Italy faces ‘momentous moment’ amid political fights, threats and instability – cnbc

Shell eyes dividend and spending boost after 2020 – Reuters

Australia central cuts rates to record lows as growth sags – Reuters




Monday 06/03

China, Hong Kong markets slide as Beijing blasts US as ‘solely to blame’ for breakdown in trade talks – scmp

Trump’s Mexico tariffs could drain jobs from America’s economy – Marketwatch
The World’s Lowest Interest Rate Could Be Going Even Lower – Reuters
Nasdaq drops more than 1%, enters correction territory as regulation fears batter big tech – cnbc

War With The World? Trump Slaps Tariffs On India, Considering Australia – Zerohedge
US Manufacturing ‘Hope’ Crashes To Record Low – Zerohedge
Apple Shares Drop To Session Lows On Reports Of DoJ Anti-Trust Probe – Zerohedge
Stocks Spike After Fed’s Bullard Suggests Rate-Cuts “Soon” – Zerohedge
Fed’s Bullard: Trade, other risks, mean rate cut may be ‘warranted soon’ – nasdaq
Bank of America cuts corporate profit forecast on trade war fears – cnbc
Facebook Tumbles After FTC Opens Competition Probe – Zerohedge
Goldman Sachs says these companies have the most to lose from Mexico tariffs – cnbc

Goldman Sachs on what the upcoming Mexico tariffs mean for S&P earnings – yahoofinance
Key Events This Week: Everything All At Once – Zerohedge
Global banks prepare to launch digital versions of major currencies – ft

What is the Italian clash with EU over fiscal policy about? – Reuters

EUROPE: Manufacturing economy continues to contract in May – markit
UK Manufacturing PMI signals contraction as new orders fall and stockpiling activity pauses- markit
“The Auto Cycle Has Peaked”: Bank Of America Says Industry Now Faces Supply & Demand Mismatch – Zerohedge
Monday Morning Memo: Is the European Investment Industry in a Crisis? – lipper

Global recession fears grow as manufacturing shrinks across Asia – Reuters
Vietnam Tops List of Biggest Winners From U.S.-China Trade War – Bloomberg
Morgan Stanley warns on growing risk of US market ‘downturn’ – ft
‘The pain is just beginning’: After 38,000 layoffs, Wall Street wakes up to ‘peak car’ – businessinsider
Get set for U.S. bond yields to skid much lower, warns J.P. Morgan – Marketwatch
A US-China trade deal isn’t likely at the G-20 summit this month, JP Morgan and Morgan Stanley say – cnbc
Goldman Sachs is predicting an escalation of global trade wars – cnbc
Caixin: China’s factory activity flat in May – Marketwatch

Trade war could cause U.S. recession in less than a year, Morgan Stanley says – Marketwatch
FX – The Sting of Protectionism – bk
Domino #2: Chinese Bank With $105 BN In Assets On Verge Of Collapse – Zerohedge
The Wettest and Wildest Planting Season Farmers Can Remember – Bloomberg