Special: Financial Crisis Five Years (updated)
Special: German Elections 2013 (updated)
Roundups
News roundup – Between
The Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
Europe Morning MoneyBeat: Stocks Tipped For Gains As Summers
Withdraws – WSJ
MORNING BRIEFINGS
September has so far
been a disappointment for the Eurozone as it tries to give legs to its
fledgling recovery so EU consumer inflation will be under the microscope. US NY
Fed Index and US industrial production are also key numbers later today.
Market Preview: Eurozone CPI eyed as Obama Fed
choice withdraws – TradingFloor
European markets are
expected to open sharply higher Monday after Larry Summers' withdrawal from the
Fed chairman race has led to speculation that the accommodative policy run down
will take longer.
Danske Daily – Danske
Bank (pdf)
This morning ECB
president Mario Draghi and ECB board member Praet speak...Final euro area
inflation figures for August are expected to show a decline in inflation from
1.6% to 1.3%... We expect US industrial production to have
increased 0.3% m/m in August...The really big event this week is the FOMC
meeting on Wednesday where the Fed is expected to announce the initiation of QE
tapering.
Market comment: Summer(s) is over – Nordea
Berlusconi drama
pushes Italian yields higher vs Germany * Larry Summers withdraws from Fed chairman
consideration * Praet signals ECB ready to act * Merkel´s sister party wins Bavaria election * Syria – a new deal * FOMC meeting – all about
tapering * Mixed bag of data this week * Issuance from Spain and France on Thursday
Aamukatsaus – Nordea
Trimmaus tulee –
oletko valmis? * Jenkkikuluttajalla hengähdystauko * Fedin pääjohtajakisassa
yllätyskäänne
Aamukatsaus – Tapiola (pdf)
Perjantain pehmeähkö makrodata USA:sta otettiin tyynesti vastaan ja viikko päättyi nousuun. Osakemarkkinoille nostetta viikonaluksi, kun FED:n pääjohtajapelistä tippui haukkamainen Summers. Kuluvalla viikolla FED:n korkokokous, josta odotetaan elvytyksen supistamista. Ahlstromilta (BOTTOM-5 osake) jälleen tulosvaroitus. Osakefutuurit ylös, indikoiden nousu avausta OMX HEX:iin.
EUROPE
The Eurozone Crisis: Phoenix
Miracle or Lost Decade? – Berkeley
(pdf)
But Where’s My Phoenix? – Krugman
/ NYT
Slovenia, the poster
child of the new eurozone nations after it joined in 2007, but is now seen by
some as the skeleton in the closet of Europe; a reminder that, although the
eurozone crisis may have quietened down, it has certainly not gone away.
Germany's euro break-up party – Alternative für Deutschland (AfD) –
has unveiled its foreign policy. It is pure Bismarck.
Is there any more ludicrous a figure than Jose
Manuel Barroso, president of the European Commission? – The
Telegraph
Myths about our membership of the EU – The
Telegraph
If Britain were to leave the EU, we could still trade
with the single market by joining the European Free Trade Area
Spain-Italy 10-year spread drops below zero- Sober
Look
The actual website is here.
UNITED STATES
3 Potential "Taper" Surprises And
FOMC Sugar-Coating – ZH
BAML Warns "If The US
Economy Does Not Significantly Accelerate Now, It Never Will" – ZH
Goldman and Merrill economists on
"Tapering" – Calculated
Risk
FOMC Projections Preview: Some Modest Tapering
is Possible – Calculated
Risk
Can Stocks Hold Up Once Tapering Begins? – WSJ
Guest Post: The 7 Choices Left To The
Military-Industrial Complex – ZH
FOMC Week – Tim Duy’s
Fed Watch
ASIA
OTHER
The Fed's Dilemma and the Week Ahead – Marc
to Market
FX Comment: tapernomix – Nordea
BIS Quarterly Review, September 2013 – BIS
Markets precipitate
tightening. Special features on "How have banks adjusted to higher capital
requirements?", "CoCos: a primer ", "Interest rate
pass-through since the financial crisis", "Mind the gap? Sources and
implications of supply-demand imbalances in collateral asset markets" and
"Database for policy actions on housing markets".
BIS veteran says global credit excess worse
than pre-Lehman – The
Telegraph
Extreme forms of
credit excess across the world have reached or surpassed levels seen shortly
before the Lehman crisis five years ago, the Bank for International Settlements
has warned.
The peak in world oil production is yet to
come – Econbrowser
Great CDS primer from JPMorgan – Sober
Look
FINNISH
Komissaari
puhuu yhä puppua eurokriisin syistä – Jan
Hurri / TalSa
EU:n talousohjauksesta vastaava komissio
luulee vielä viisi vuotta investointipankki Lehman Brothersin konkurssin
jälkeen, että euroalueen velkakriisi on tuon kuprun syytä. Viimeksi tätä puppua
toisti komission puheenjohtaja Barroso viime viikolla pitämässään "unionin
tila" -puheessa. Ei ihme, että kriisin ratkaiseminen viipyy.
Näin
syntyi hallituksen pelastuspaketti – HS
Viime hetkeen asti oli vaara, ettei
rakennepakettia synny
Suututtaja
ei tingi arvoistaan - Susanna Koski listasi idolinsa: Thatcher, Reagan,
Niinistö – IS
Susanna Koski vastailee toimiston pöydän takaa
jämäkän itsevarmasti. Olemukseen ilmestyy pientä rauhattomuutta, kun puheeksi
tulee rasismi.
Sosialidemokraattien
kampanja Saksassa – Henri
Myllyniemi / US Puheenvuoro
Hiljaa
hiipii Lissabonin yössä – Henri
Myllyniemi / Piksu