Roundups &
Commentary
Frontrunning – ZH
Overnight: Bond Blowout Starts Event Extravaganza Day – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
EU daily news – Europa
Daily press summary – Open Europe
Merkel’s spokesperson: Repatriation of EU
powers a ‘sensible idea’
Morning MoneyBeat: Should You Sell Rosh Hashanah, Buy Yom Kippur? – WSJ
Morning Bond Update – TradingFloor
Nine Things to Know Before BOE and ECB – Marc
to Market
EUROPE
Service sector points to another GDP increase
in the Eurozone – TradingFloor
Mads Koefoed: Companies
in the euro area service sector reported expansion in August, with PMI services
hitting 50.7 following 51 a month earlier. Both PMIs are in expansion and point
to a high probability of growth again this quarter.
Germany must provide a vision for the
rudderless ship of Europe – TradingFloor
(video) Germany's inconvenient truth – TradingFloor
Steen Jakobsen: Germany
must provide a vision to help restructure Europe, get credit flowing again and
reduce the overall debt load. The strong euro is doing the periphery no good
and unemployment is sky-high. The ship needs a rudder to brace the many
headwinds.
A Complete Guide to European Bail-Out
Facilities - Part 2: Target2 and EFSF / ESM – bawerk
How Italy and Spain are showing some muscle – TradingFloor
Peter Garnry: Take a
look at the loan rates for small and medium sized enterprises in Spain and
Italy; they're at their lowest levels in two years. this is a positive sign and
could lead to their equity markets outperforming Germany's.
Sovereign default risk and banks in the
Europe’s monetary union – voxeu.org
EZ banks are more
exposed to their own nation’s government bonds than ever. This column argues
that Eurozone members can now afford to tell their banks to diversify, but
pressure from Germany, Austria, France and the ECB might be necessary. Defusing
the pernicious entanglement between the Eurozone’s weak banks and weak
sovereigns would reduce the cost of any new crisis and reduce the likelihood of
such a crisis occurring.
Triple shocks threaten Europe's sickly and
deformed recovery – The
Telegraph
Europe has not
recovered. It has begun to stabilise, but only just, amid mass unemployment,
with debt trajectories still spiralling out of control in Italy, Portugal,
Spain and once again in Greece.
UNITED STATES
Mr. Market Reconsiders Disinflation/Deflation
Risk – The
Capital Spectator
Could The Fed’s Taper Prove Inflationary? – WSJ
ASIA
India's inverted yield curve fails rupee and
slams economy – Reuters
Viewed in one light,
India's steeply inverted yield curve is the result of a deliberate and classic
policy strategy to defend a weak currency. From another perspective, it is
pointing at deep economic problems to come, possibly even recession.
Five Takeaways From BOJ Gov. Kuroda’s Comments – WSJ
OTHER
IMF Update on Global Prospects and Policy
Challenges – IMF
The BRICs party is over – voxeu.org
Anders Åslund: Emerging
markets are under pressure. This column argues that this is not a mere headwind
but that the BRICs’ party is over. Their ability to get going again rests on
their ability to carry through reforms in grim times for which they lacked the
courage in a boom.
Are U.S., U.K. and Europe Heading Down Japan’s
Path? – WSJ
James Carrick, an
economist at Legal & General Investment Management, had a look and
published a report on Wednesday. His conclusion: the U.S. and U.K. should be
alright but Europe is a much closer call.
FINNISH
Hypo:
Asuntolainan marginaali kiipeää jopa 2,5 prosenttiiin
– TalSa
Islantilaispankkeja
uhkaavat uudet miljarditappiot – Verkkouutiset
Valtio
myi TeliaSoneraa liki 370 miljoonan euron edestä – YLE
Pääkirjoitus:
Tieliikenteen verotus jättiremonttiin – IS
Pari
faktaa satelliittivalvontajärjestelmästä – Harri
Kivistö / US Puheenvuoro
Pääkirjoitus:
Rakenneohjelman piru on yksityiskohdissa – IS
Bruttokansantuote
kasvoi 0,2 prosenttia edellisestä vuosineljänneksestä mutta pieneni 1,2
prosenttia vuodentakaisesta – Tilastokeskus
Wahlroos
Nokiasta: "Suomessa oli yksi hyvä tuote, ja se myytiin eilen" – TalSa
Professori
teilaa hallituksen rakenneuudistukset MT:ssa – Suomenmaa