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EUROPE
Samaras
summons bond vigilantes with euro exit talk – ekathimerini
Riksbanken
döljer att internationella studier motsäger dess påstående om skulderna – Ekonomistas
EUROPEAN CENTRAL BANK
Draghi’s
QE Battle Almost Won as Economists See Action – BB
More than
90 percent of respondents in Bloomberg’s monthly survey predict the European
Central Bank will begin large-scale buying of government bonds next year, up
from 57 percent last month.
Oil
price collapse dooms Eurozone to deflation – TradingFloor
The odds
are the Eurozone will slip into deflation in 2015, a victim of this year’s oil
price collapse. No amount of quantitative easing can change that outcome - the
horse has already bolted.
ECB May
Have to Buy Sovereign Bonds, Nowotny Says – WSJ
UNITED STATES
Senate
passes spending bill, ends government shutdown threat – Reuters
FEDERAL RESERVE
FOMC
Preview – Calculated
Risk
More
Questions for Yellen
– Tim
Duy’s Fed Watch
FOMC
Preview: Moving closer to the first rate hike – Danske
Bank
Fedspeak
Cheatsheet: What Are Fed Policy Makers Saying? – WSJ
Will the
Fed drop ‘considerable time’ when it meets this week? – WaPo
ASIA
Prime
Minister, brushing aside suggestions that a low turnout tarnished his
coalition's election win, vowed on Monday to stick to his reflationary economic
policies, tackle painful structural reforms and pursue his muscular security
stance.
Abenomics
has gotten four more years, just as expected. Record low turnout highly likely
reflects voters’ doubt on Premier Abe and his economic policies that promised
to revive Japan’s economy. The expected outcome had
little impacts on the financial markets for now, but in the longer term, eyes
are still fixed upon whether Abe is bold enough to implement much-needed but
unpopular reforms.
Abe’s
election win strengthened his hand to move beyond the fiscal and monetary
stimulus that brought an end to deflation in his first two years. The tougher
task for Abenomics 2.0 will be to boost Japan’s growth potential.
OTHER
Daily
Central Banks – WSJ
Hilsenrath’s
Take: What is Going Down With Inflation Expectations? * Fed Likely to Stare
Down Oil-Price Drop * Fed’s Kocherlakota Will Step Down in 2016 * For Japan’s
Shinzo Abe, Now Comes the Hard Part * China
Growth Could Slow to 7.1%, PBOC Researchers Say
Daily
Macro – WSJ
Global
markets are now in a very jittery state. This puts enormous pressure on the
Federal Reserve, whose meeting Tuesday and Wednesday has become even more
important. Notwithstanding a bounce provoked by Middle East conflict Monday, oil prices
continue to slide as OPEC’s leaders show new willingness to cut production.
Danske
Daily – Danske
Bank
Nordea
Morning – Nordea
US Senate
passes budget * Swedish business sector production weak
FI
Eye-Opener: Big moves, big week – Nordea
German
yields hit new lows – US Treasuries with an even bigger rally. Bond market
momentum remains strong. Oil prices and inflation expectations still falling.
Equity prices tumble. Abe gets another shot at reforms. French downgrade old
news. US consumer confidence jumps. Big repayment
illustrates the slow rise in excess liquidity. Fed meeting, Euro-area PMIs and
Greek presidential elections. Issuance calendar looking light already.
Dollar
and Equities Find Firmer Footing – Marc
to Market
US Open – ZH
Futures
Rebound, Crude "Flash Smashes" Higher As Dollar Strengthens
Daily
Shot – TradingFloor
Eurozone QE
appears increasingly likely * Investors flee Greek markets on political fears *
US import prices fall 1.5% for October
Likely
Unlikelies 2015: Commodities – erase and rewind – Nordea
As energy
prices have collapsed this year, much has been written about the risks of
continuation of the trend extrapolating developments into 2015. What if…it
doesn’t?
FX,
etc.: Famous last words – Nordea
A
helicopter view, 2014 and 2015. Is the turning point near? 2008 is a roadmap in
terms of price action...but fundamentals better now.
Oil
Trades Near 5-Year Low as OPEC Seen Resisting Cuts – BB
It may
be time to start building pro-risk positions – Global
Macro Trading
Time to
leave the German Bund party – FT
Balance of
risk and reward has shifted as expectations rise of ECB QE
Emerging-Market
Stocks Fall to 10-Month Low as Currencies Plunge – BB
FINNISH
Aamukatsaus – Nordea
Fedin kokouksessa syynätään sanoja | Abelle vaalivoitto
Japanissa | USA:n kuluttajien luottamus ylitti odotukset
Koneet kuluvat loppuun – Jorma
Pöysä / KL
EKP:n pressi 12/14 – Harhala
Vasemmisto heräilee rikkomaan tavaroita – Olli
Herrala / KL
Q3 Vaihtotase lievästi ylijäämäinen, tavaratuonti laskussa –
Tilastokeskus
Q3 Teollisuuden liikevaihto supistui reilun prosentin YoY – Tilastokeskus
Q3 Palvelujen liikevaihto +4,1 prosenttia YoY – Tilastokeskus
Q3 Rakennusyritysten liikevaihto kasvoi 0,7% YoY – Tilastokeskus
Rakennuskustannukset nousivat marraskuussa 1,2% YoY – Tilastokeskus
Koko kaupan myynti laski lokakuussa 0,5 prosenttia
vuodentakaisesta – Tilastokeskus
Inflaatio pysyi marraskuussa 1,0 prosentissa – Tilastokeskus