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EUROPE
Who’s
afraid of the AQR?
– Bruegel
Banks have
incentives to recapitalize in socially undesirable ways and to hide losses on
their balance sheets. Will the comprehensive assessment solve these issues by
forcing significant European banks to recognize losses and to recapitalize by
issuing new equity instead of deleveraging?
EURCHF
floor could become collateral damage if ECB ups the ante – TradingFloor
Switzerland's economic outlook has deteriorated
considerably since June * The SNB has stressed the EURCHF floor of 1.20 will be
maintained * To defend the floor, SNB will purchase foreign currency in
'unlimited quantities’
EUROPEAN CENTRAL BANK
ECB to keep
loose policy 'for long time': Draghi – Reuters
Draghi Says
Euro Level Reflects Monetary-Policy Paths – BB
Draghi
helps halt European stock sell-off – Reuters
ECB's
plans to revive bank lending leave economists unconvinced – Reuters
Bank lending
to private euro zone businesses needs to grow at a 3 percent annual rate on a
sustained basis in order to stir inflation, according a Reuters poll
Will
German Weakness Pave the Way for QE? – WSJ
Europe should fear German retreat: Ambrose Evans-Pritchard – TradingFloor
European
hopes for central bank-led quantitative easing have retreated even further with
the success of Germany's anti-euro Alternative für
Deutschland party.
MACRO NUMBERS
Swedish
consumer confidence surges, business confidence drops – TradingFloor
September Ifo
Business Climate Index Continues to Fall – CESifo
Slide in
German business morale points to weak third-quarter – Reuters
German
Business Confidence Drops for Fifth Month – BB
An end of
an era for German growth? – TradingFloor
ASIA
Who is
Chinese Central Banker Zhou Xiaochuan? – WSJ
Skids under Zhou Xiaochuan? – FT
People’s
Bank of China governor Zhou Xiaochuan looks to be on the way out
Analysis:
Chinese Central Banker’s Departure Wouldn’t Necessarily Signal Policy Shift – WSJ
How
China’s Central Bank Works – At A Glance – WSJ
"Get
To Work Mr. Chinese Chairman": China Set To Fire Its Central Bank Head,
Unleash The Liquidity Floodgates – ZH
The years
of double-digit economic growth are over in China, say government officials who are
starting to use a phrase familiar to Americans and Europeans: “the new normal.”
Xi
Jinping’s Pure Party
– Project
Syndicate
George
Magnus: While the Chinese authorities' efforts to root out corruption within
the Communist Party are a welcome development, the Party itself is part of the
problem.
Australia’s Central Bank Makes Pre-Emptive
Move on House Prices - WSJ
RBA
Discussing Measures to Cool ‘Unbalanced’ Housing Market - BB
Australia’s central bank said investors are
starting to distort the nation’s housing market and is discussing possible measures
with other regulators to strengthen lending practices.
OTHER
Daily Macro – WSJ
Data
continue to show the disparate state of growth throughout the global economy,
both across and within regions. Wednesday brought a reminder of how poorly Germany is doing but also offered hints of
an Italian rebound. And within the otherwise sluggish Australian economy, that
country’s central bank is worried about speculation in the housing market.
Daily
Central Banks – WSJ
Hilsenrath’s
Take: Explaining Why U.S. Rates Have Suddenly Gone Negative * Fed’s Bullard
Still Looks to 1st Quarter 2015 Fed Rate Increase * Fed’s George Wants to Raise
Rates Soon, Gradually *
Australia’s Central Bank Makes Pre-Emptive
Move on House Prices * Brazil’s Central Bank Increases Forex
Interventions
Great
Graphic: The Euro and Commodity Prices – Marc
to Market
Five
reasons why the picture is looking gloomy for global trade… - FT
Global
Trade Collapses: One Of World's Largest Logistics Companies Slashes Forecast;
Blames Europe, US Trade – ZH
FINNISH
Sixten Korkman: Euroopan talouden pahin ongelma on
kysynnän puute – HS
Kannattaako hallituksen enää jatkaa? – Vesa
Varhee / TalSa
Vihreiden päätös jättää Alexander Stubbin (kok.) hallitus
saattaa helpottaa hallituksen taivalta. Suomen talouden tila ja ennen kaikkea
sen suunnan kääntäminen vaativat selkeitä päätöksiä. Niitä on sitä helpompi
toteuttaa, mitä vähemmän puolueita hallituksessa istuu. Toisaalta, hallituspohjan
rapautuminen saattaa aikaistaa ensi kevään vaaleja, ja antaa
toimintakykyisemmän hallituspohjan jo talvella.
Näin asiantuntijat arvioivat puoluejohtajien osaamista
– YLE
A-studio kysyi kahdelta politiikan ja viestinnän
asiantuntijalta puoluejohtajien taidoista. Näin Harri Saukkomaa ja Mari K.
Niemi vastasivat.
Alexander Stubb haluaa tuntuvia veronkevennyksiä – Verkkouutiset
Stubb tahtoo kilpailua ja puhetta alkoholin myynnistä – TalSa
Suomen ulkomainen nettovarallisuusasema pieneni vuonna 2013
– Tilastokeskus
Suomen nettovarallisuusasema putosi rajusti – Verkkouutiset
Teollisuuden tuottajahinnat elokuussa -0,8% YoY – Tilastokeskus
Konkurssien määrä tammi-elok. -5,5% YoY – Tilastokeskus