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EUROPE
How will
Juncker get to €300bn? – FT
Italy is in
recession yet again. Inflation is barely above zero. But instead of keeping his
economic focus, Prime Minister Matteo Renzi is playing politics over
presidential succession. Meanwhile the left and the unions are opposed to
much-needed reforms designed to bring down the stubbornly high double-digit
unemployment rate.
Chicago Fed
Working papers by Enrique G. Mendoza, Linda L. Tesar, Jing Zhang
UNITED STATES
FOMC MINUTES
Fed Minutes:
Looking for Clues on Rate-Hike Timing – WSJ
Fed
Releases Minutes, Markets Shrug – WSJ
Key points
from the minutes of the October FOMC meeting – Danske
Bank
FOMC
Minutes: Centrists Remain In Control – Marc
to Market
ASIA
Bank of
Japan board probably still divided despite 8-1 vote – Danske
Bank
BoJ:
wider majority backs QE expansion – Nordea
About
that debt – The
Economist
China’s
Central Bank Makes Even the Heroic Fed Look Like a Bunch of Amateurs – Wolf
Street
OTHER
Daily
Central Banks – WSJ
Hilsenrath’s
Take: Fed Coming Under Pressure From Both Left and Right * BOJ Governor Says
Easing Not A ‘Mistake’ * 5 Things to Watch in the Fed’s October Minutes * BOE
Minutes Hint at Deepening Divisions * Interest-Rate Cuts Loom Across Asia
Daily
Macro – WSJ
The Bank of
Japan is caught in a political bind as Prime Minister Shinzo Abe reneges on
earlier commitments to complete a process of tax increases while the Bank of
England finds that splits are forming over what had been a fairly solid
consensus about keeping rates low for a long time.
FI Eye-Opener: When QE is not enough
– Nordea
Abe in
action. ECB-QE priced stronger and stronger. Minutes from Fed and BoE today.
10Y EUR swap steady @1%. Core rates stable in general. US PPI surprises a bit
on the upside as does UK CPI. A lot of action in xCcy basis swap markets.
Yen and
Dollar-Bloc Sink, while Sterling Ticks Up – Marc
to Market
Danske
Daily – Danske
Bank
FINNISH
Aamukatsaus – Nordea
Norjan kasvu hidastuu | Saksan ZEW-indeksi nousi |
Britannian inflaatio voimistui
Ollapa oma valuutta, avautuisi taivas heti – Ilkka
Partanen / US
Elinkeinoelämä vaatii rohkeita tekoja talouden
kääntämiseksi – Verkkouutiset
Deflaatio ei itsessään aina ole vaarallista – sen
tavallisin vaikutus on sitäkin vaarallisempi – Tyhmyri