Central bank speeches:
Stock indices fell. As I said in my previous post, we're awfully close to the bottom of the range, and a move higher could be next. Maybe Monday, or latest Tuesday, will be this week's bottom? EURUSD moved higher, but is unwilling to go anywhere.
EUROPE
With Europe’s current crisis having convinced many that the EU's existing
institutional arrangements are unsustainable, many high-level figures have been
calling for a move toward political union. But further European integration
will not be feasible until trust among the member states has been restored.
CATALONIA VOTE
Catalan Separatism Refuses to Die as Mas Claims 48% Mandate – BB
Spanish Bonds Rise as Catalonian Voters Reject Independence Bid – BB
Rajoy's Catalan Losses Signal Struggle to Survive December Vote – BB
Catalonia election results 28 September 2015 – ABN AMRO
Experts react: Catalan elections – Europp
Madrid and Brussels try to downplay Catalan vote – Politico
Catalonia votes ‘no’ – Politico
UNITED STATES
Slower job growth not an obstacle for the Fed
OTHER
FX Liquidity Is Tumbling To Dangerous Levels – ZH
IMF Research Bulletin Sep 2015 – IMF
Abenomics 2.0 – Marc
Chandler
REGULARS
U.S. Stocks Struggle to
Hold Yellen Gains
Catalonia Casts
Uncertainty Over Spain’s Future
Watch for the Death
Cross
More political uncertainty: Pro-independence
parties take majority in Catalan parliament * US wage data * Bond yields rise
in the aftermath of hawkish Yellen and rising equities * NOK still under
pressure
It's an easy start to
the week data-wise but a heavy schedule awaits: Later this week, we've got the
Japanese Tankan report and Eurozone CPI on Wednesday, as well as the
all-important US nonfarm payrolls on Friday.
Daily FX Comment – Marc
Chandler
Sterling and Yen Edge Higher
Separatists in Spain's wealthy
Catalonia region won a clear majority in a regional election, knocking Spanish
government bonds which are likely to continue to underperform. And options on
Euribor futures are pricing in an ECB rate cut with a 50% probability reflected
in the December-16 contract.
Daily Press Summary – Open
Europe
New poll shows Leave
campaign in front as leading Labour politicians line up to back EU membership
no matter what * German President: Our capacity for taking in refugees is finite
* Austrian anti-immigration party secures second place finish in regional
elections * Lord Leach: Only “big picture” reform can keep the UK inside the EU
* Adam Marshall: UK business has “nostalgia” for old European Economic
Community * Pro-independence parties win majority of seats, but less than 50%
of votes, in Catalan election * Dutch campaign triggers referendum on
EU-Ukraine association agreement * Greek Finance Minister confident country
will return to growth next year if debt relief is given * France launches first
air-strikes against IS in Syria * European officials claim UK’s EU
renegotiation is stalling due to lack of detail * ECB suspends purchases of VW
backed debt amid on-going scandal * Russia agrees to deal to supply Ukraine
with gas over winter months
Brussels Playbook – Politico
EU in NYC — What next in
Catalonia? — French air strikes
US Futures Resume
Tumble, Commodities Slide As Chinese "Hard-Landing" Fears Take Center
Stage
The market neglected to make a
statement on the US dollar direction late last week, but this week we await a
plethora of FOMC voters out speaking and the key US employment report on
Friday. Elsewhere, sterling is struggling mightily.
Brazil was looking like
a basket case just a few days ago but, while it's hardly out of the woods,
there are some potential bargains to be had in the corporate bonds sector — if
you are of the intrepid bent.
FINNISH
Tarkennusta
Fedin viestiin * Fedin johtoryhmän jäsenet vahvistavat viestiä koronnostosta * Itsenäisyyttä
ajavat puolueet voittivat paikkaenemmistön Katalonian vaaleissa