Follow ‘MoreLiver’ on Twitter
EUROPE
The
Government Europe Deserves? –
Project
Syndicate
Daniel Gros:
The most sobering message from the appointment of the EU's new leadership is
that the member states will not suffer anyone who might rock the boat and push
integration forward. That might come as a relief for those fearing domination
by Brussels, but it can only dismay those who
hope that Europe can become a relevant global actor.
The AfD
bangwagon rolls on - what are the implications? – Open
Europe
Gaming
the TLTRO – Marc to Market
The ECB
is buying, but which Eurozone banks are selling? – TradingFloor
On October 2,
the full details of the ECB's new asset purchase programmes will be revealed
and the impact on the markets could be significant. Which banks has the market
already singled out as leading the pack, and which ones are bringing up the
rear??
SCOTLAND
The costs
of secession are a matter of choice, not of inevitability. If cool heads
prevail on all sides, Scottish independence could proceed at a relatively low
cost, sparing the successor states, the EU, and other parts of the world
considerable instability.
Scottish
Referendum: Origins and Implications – Econmatters
Independence and union – Coppola
Comment
MACRO NUMBERS
Euro area
job vacancy rate stable at 1.7% - Eurostat
Annual
growth in labour costs up to 1.2% in both euro area and EU28 – Eurostat
German ZEW
declines yet again in September – TradingFloor
UNITED STATES
FEDERAL RESERVE
No change
in FOMC policy, but get ready for rate rise guessing game – TradingFloor
Are Hawkish
Fears Overdone? – Global
Macro Trading
What to
Expect From the Federal Reserve Decision – WSJ
5 Things to
Watch at This Week’s Fed Meeting – WSJ
Wonkbook: The
Fed is nearing a milestone – WaPo
ASIA
Australia’s Central Bank Holds Off
Macroprudency – WSJ
Credit
crunch could sink the Chi-tanic: Ambrose Evans-Pritchard – TradingFloor
China Launches CNY500 Billion In "Stealth
QE" – ZH
OTHER
Daily
Central Banks – WSJ
Da Costa’s
Take: The Case for Fed Patience on Rates, Message * How Stocks Perform Before
and After Fed Raises Rates * China’s Economic Slump Complicates
Beijing’s Restructuring Plans * Kuroda Assures Businesses BOJ Will Act if
Needed * Brazil’s Central Bank Becomes Unlikely
Star in Presidential Campaign
Daily Macro – WSJ
There’s
mounting nervousness in world markets about what the Federal Reserve might say
when it concludes its two-day meeting Wednesday, evident in another down day
for Asian shares earlier Tuesday. That’s not necessarily because of any
heightened expectation that the Fed will signal a move to increase rates, but
rather reflects the deteriorating backdrop in the rest of the world economy. Not
only is the eurozone struggling, but the latest set of poor data out of China
have raised serious concerns about the capacity of the world’s second-largest
economy to engineer a transition from an investment-led economic growth model
to one led by consumer spending.
FOMC
& Scotland – Macro
Credit FX
Yield
Forecast Update– Danske
Bank
Monetary
policy divergence intensifying
The G-20
to the Rescue? – Project
Syndicate
The G-20’s
upcoming meeting in Brisbane, Australia, comes at a time when a precarious
global economy requires big decisions to be made. But it is far from clear who
will provide the decisive voice needed to set a bold agenda – and then shepherd
its implementation.
FINNISH
Matti Vanhanen: Suomi mokasi luovuttuaan markasta – Yrittäjät
Uusi oikeistopuolue AfD porskuttaa Saksassa – HS
Eurooppa sairastaa – Henri
Myllyniemi / US
Kansantalouden tuotanto pieneni heinäkuussa vuodentakaisesta
– Tilastokeskus
Suomen työvoimakustannukset kasvoivat yli kolme kertaa
euromaita nopeammin – TE