Monday, June 18

ByKevin Sheekey

Good morning from London where we witnessed the opening of The London Mastaba, a temporary sculpture in Hyde Park, by world-renowned artist Christo. The sculpture, which consists of 7,506 stacked barrels in the Serpentine Lake, will be on view until September 23.

The London Mastaba is the first major work by Christo in the UK, and it coincides with an exhibition at the Serpentine Gallery that is sponsored by Gallery Chairman Mike Bloomberg.

It’s a big day here in sport as well as art as England’s 2018 World Cup gets underway this evening against Tunisia at 7 p.m. (U.K. time). Get your seats at the pub early.

The London Mastaba opens in Hyde Park.

Christo and Mike Bloomberg at The London Mastaba. June 18, 2018.

Review: Serpentine Artwork is a Barrel of Fun (The Times)

The Week Ahead.

-U.K. House of Lords takes up the Brexit withdrawal bill.
-German Chancellor Angela Merkel meets new Italian Prime Minister Giuseppe Conte in Berlin for talks expected to focus on the euro area and migration.
-New York Fed hosts conference in New York. SEC Chairman Jay Clayton and John Williams, on his first day as New York Fed president, will speak. Ex-NY Fed president William Dudley will discuss “Finance, Culture and Society” with Wells Fargo Chair Betsy Duke and Morgan Stanley CEO James Gorman.
-Finance ministers and central bank presidents of Brazil, Argentina, Uruguay and Paraguay meet at the Mercosur summit. The gathering in Luque, Paraguay concludes with a heads-of-state meeting. The bloc will discuss strategies for trade talks with the EU.
-Lyrics for Bruce Springsteen’s 1975 anthem “Born to Run” are auctioned at Sotheby’s with a high estimate of $300,000. Online bidding until June 28.

-President Trump hosts Spain’s King Felipe VI and Queen Letizia as they begin a visit to the U.S., celebrating the 300th anniversaries of the founding of New Orleans and San Antonio.
-German Chancellor Angela Merkel and French President Emmanuel Macron hold a joint cabinet meeting on plans to strengthen the euro area and coordinate positions for a late June summit. In Berlin.
-Germany’s Merkel and Polish Prime Minister Mateusz Morawiecki address an international climate conference in Berlin.

-OPEC International Seminar. OPEC ministers and CEOs of international energy firms participate in Vienna, through June 21.
-ECB President Mario Draghi, Reserve Bank of Australia Governor Philip Lowe, Bank of Japan Governor Haruhiko Kuroda, and Fed Chairman Jerome Powell join a panel on central bank policy in Sintra, Portugal.
-Spanish Prime Minister Pedro Sanchez to testify before parliament for the first time since elected.
-Bloomberg Breakaway CEO Summit is held in New York City. Mike Bloomberg will speak, along with Wells Fargo CEO Tim Sloan and Martha Stewart.

-The U.S. Federal Reserve releases the results of its 2018 bank stress tests, conducted as part of the Dodd-Frank Act enacted after the 2008 financial crisis.
-South Korean President Moon Jae-in begins a visit to Russia. Through June 23.
-U.S. Commerce Secretary Wilbur Ross opens the SelectUSA Investment Summit in Washington. Treasury Secretary Steven Mnuchin will talk about tax and regulatory reform. Through June 22.
-The solstice arrives at 6:07 a.m. EDT (10:07 GMT), marking the first day of summer in the Northern Hemisphere and the first day of winter in the Southern Hemisphere.

-OPEC ministers and partners meet and will debate whether to restore oil output they halted last year. Iraq, Venezuela and Iran oppose a Saudi proposal to increase supplies. Through June 23 in Vienna.

From NI WEEKAHEAD on your Bloomberg Terminal.

Headlines from around the world.

Bloomberg: Colombia Elects Pro-Business President Who Attacked Peace Accord

China Daily: China forced to fight back with reciprocal tariffs

Bloomberg: London House Prices Continue Their Descent

Japan Times: At least three people killed, more than 240 injured after strong earthquake rattles Osaka area

Korea Times: Defector explains North Korea’s nuclear obsession

Best of late night.

On Trump’s praise of Kim Jong Un:

“[Kim Jong Un] does this one bit, so funny, where he will throw three generations of your family in jail if you’re listening to a radio that’s not on the government station.”

On former Trump campaign chairman Paul Manafort going to jail:

“A judge said they should ‘lock him up, lock him up.’ Even worse news, Kim Kardashian is not taking his calls, so how is he going to get a pardon?”

“Trump said about Manafort that he had nothing to do with the campaign. Nothing to do with the campaign? You personally brought him in and you gave him the title of Campaign Chairman. It’s like when they told Elvis that he had a black belt, it wasn’t really true.”

On the New York State Attorney General charges that the Trump Foundation served as Donald Trump’s personal checkbook:

“They were funnelling money to some of the least deserving charities in the world. Doctors Without Bordeaux, that’s not a real charity. St. Barth’s Childrens Hospital, that’s ridiculous.”

— Bill Maher on HBO’s Real Time with Bill Maher

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