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Wednesday, August 19

19th Aug - Markets viewed minutes as dovish

Previously on MoreLiver’s:

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Stocks fell during the early part of the day. After Fed minutes, USD weakened, stocks gained a bit.

Yields were first up, but after minutes, broke through yesterday's lows.

Banking Union Before Euro Adoption: Flak Jacket or Straitjacket?IMF

What can EZ offer to get the IMF on board GreeceIII? – Open Europe
What Next For Greece? – Marc Chandler
Germany backs Greek bailout as Tsipras mulls early polls – Reuters

S&P 500 Earnings TodayAlpha Now
Update of the Thomson Reuters Q2 Earnings report.

5 Things to Watch in the Fed’s July Meeting Minutes – WSJ
Stocks Rip, USD & Bond Yields Dip, Sep Hike Odds Drop To 40% - ZH
Fed Turns Wary Eye to China as Liftoff Looms – WSJ
Fed Officials in July Saw Rate Rise Conditions Approaching – BB
Fed Discussed Reinvestment Policy at July Meeting, Minutes Show – BB
Job growth edged Fed toward rate hike, inflation a drag: minutes – Reuters
Dollar dips, stocks cut losses after Fed minutes – Reuters

Morning MoneyBeat AsiaWSJ
U.S. Stocks Ease Off the Gas

Morning MoneyBeat EuropeWSJ
Chinese Volatility Weighs on Stocks

Morning MoneyBeat USWSJ
Parsing the Fed Minutes for Liftoff Clues

Danske DailyDanske Bank

Euro rates updateNordea

Higher inflation in the US and UK * Another Chinese equity sell-off * German 10-year higher after hitting the “floor” of 60 bp intra-day * EUR/USD cross lower on US data; will CPI today drive it lower?

Morning MarketsTF
China's rumbles got a bit more rumbustious overnight as volatility on the Shanghai Composite Index saw the market eventually claw back a 5% drop in the early part of the Asia session. Markets are nervous and the spillover is spreading throughout the globe with commodities still in the firing line.

Daily FX CommentMarc Chandler
Dollar Consolidating with Downside Bias

Daily ShotTF
The UK's latest inflation report was significantly stronger than expected. Is this a fluke or are we looking at some easing of disinflationary pressures in the UK?

Daily Press SummaryOpen Europe
Bundestag likely to follow other parliaments in approving Greek bailout * UK and France to sign new agreement on security in Calais * Bild: Third Greek bailout is damaging the European concept * New Spanish poll shows newcomer parties losing vote share * Ukrainian President to head to Brussels to discuss renewed fighting in Eastern Ukraine

Brussels PlaybookPolitico
Duda exclusive — Angela’s Bundestag clashes — What’s best city to live in?

US Open ZH
Chinese Intervention Rescues Market From 2-Day Plunge, Futures Red Ahead Of Inflation Data, FOMC Minutes


FX Update TF
Tonight’s FOMC minutes would normally be the highlight of the week, and the recent yuan devaluation could either weaken or strengthen their impact, depending on the focus. Meanwhile, weak risk sentiment is perhaps a more important force at the moment.

From the FloorTF
China is setting the tone for a second day running as a broader risk-off mood sweeps markets on fears that Beijing might weaken the artificial props keeping its equities from sinking. With nerves skittish, participants also await the transcript of the Federal Reserve's latest policy-setting meeting but CPI data, which will be released first, could be more important.

BOE: Punta ja öljy viivyttävät koronnostoa * USA:n vuotuinen inflaatio on todennäköisesti kiihtynyt heinäkuussa * Tänään saadaan Fedin kokouspöytäkirja * Turkin keskuspankki säilytti korkonsa ennallaan