EUROPE
Angela Merkel will
soften her stance on austerity and debt mutualisation, regardless of whether
German citizens support it or not – Europp
/ LSE
Europe’s
Non-Rhetorical Values – Project
Syndicate
Vague and misleading
rhetoric is hampering productive discussion about Europe’s future. Indeed, the
flawed notion that “more Europe” is the only solution to European countries'
troubles is overshadowing the values – like subsidiarity and individual liberty
– that European institutional arrangements are supposed to serve.
Results of the Euro
Money Market Survey 2013 – ECB
Periphery business
cycle monitor – Danske
Bank
Euro area periphery countries have shown great improvement in sentiment during
2013 and in line with that sovereign spreads have tightened
.
EUROPEAN CENTRAL BANK
Given the current shape of the economy, the case for keeping the rate
unchanged is weak; it would be difficult to argue against a sooner rather than
later easing of monetary conditions in the euro area for the sake of faster
recovery and price stability.
BofA Warns
"Further Euro Appreciation Is A Problem" – ZH
UNITED STATES
FEDERAL RESERVE
FEDERAL RESERVE
Fed’s Framework for Monetary Policy –Recent
Changes and New Questions – FED
…some have suggested that the sustained period
at the effective lower bound points to the need for central banks to establish
a different policy objective, such as a higher inflation target or a nominal
income target. We use our small-scale model of the U.S. economy to examine the
potential benefits and costs of such changes. We also discuss the broad issue
of how central banks should integrate financial stability policy and monetary
policy
Fed Forward Guidance
Proves Effective, NY Fed Research Says – WSJ
U.S. Economy Slack
Justifies Stimulus, Top Fed Staff Papers Show – BB
Fed’s Williams: Jobs
Growth a Key Question for Bond-Buying Program – WSJ
Fed’s Williams Says
Economic Data Disappointing With No Pickup – BB
Fed should cap bond
buys when confident on momentum: Williams – Reuters
Fiscal mess should not
deter U.S. Fed stimulus pullback: Lacker – Reuters
Fed’s Pianalto: Hopes
Growth Will Pick Up Soon To Allow Taper To Happen – WSJ
October
Non-Manufacturing ISM
October Report – ISM
October Saw Faster
Growth Than Expected – dshort
55.4 indicates faster
expansion in October – Calculated
Risk
Beats Expectations
Sending Bond Yields Higher – Mish’s
U.S. service sector
growth quickens in October: ISM – Reuters
Surprise Services
Pickup Shows Overcoming Shutdown – BB
ISM Services Surprises
to the Upside – Bespoke
Japan October Services PMI – Markit
Fastest private sector activity growth on record
OTHER
Recovery on track
despite US hiccup – Danske
Bank
US and Euro to gain pace in 2014 as China slows a bit again
FINNISH
Talouden alakulo jatkuu – EK
Suomalaisyritysten suhdanteet pysyivät
heikkoina kesän lopulla ja syksyn alussa. Millään päätoimialalla –
teollisuudessa, palveluissa tai rakentamisessa - ei nähdä suhdannetilanteen
kirkastumista myöskään lähitulevaisuudessa.