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A New Push For A Federal EMU? – Social Europe
Finland: Fleeing As, climbing bond spreads, missing reforms – Nordea
EUROPEAN CENTRAL BANK
5 Points to Watch in the ECB’s September Meeting – WSJ
ABN Amro Warns There Is A 40% Chance Mario Draghi Expands ECB QE "As Soon As This Week" – ZH
ECB Watch – The next stage of QE? – ABN AMRO
The ECB will likely lower its inflation forecasts in September…and we see a 40% chance that it will step up its QE programmes…this would likely take the form of an increase in the monthly purchase volumes * We look at two scenarios: a EUR 20bn monthly increase and a EUR 40bn one *More QE would likely encompass Länder bonds, as well as additional utilities credits and sovereigns
Citi: Failure Of ECB QE Looks Clear – ZH
Tale of two ISMs: another reason for the Fed to pause? – Reuters
US Recession Looms As Factory Orders Plunge 9th Month In A Row – ZH
Payrolls preview: surprise on the downside? – Nordea
The real reason to worry about China isn’t what you might think – WaPo
For a long time, the Party seemed like a policymaking wizard. Not anymore, though.
Steen's Chronicle: The old and the new economic order – TF
The current fiat economy whereby manufactured money is pumped into a world blighted by higher costs and lower output is totally unsustainable. Saxo Bank's Steen Jakobsen has devised a new economic model and says the way forward is to adjust to slower growth and get back to the basics of producing goods and services that add value.
Morning MoneyBeat Asia – WSJ
U.S. Stocks Hammered as Selloff Resumes
Morning MoneyBeat Europe – WSJ
Stocks Rebound But Caution Remains
Morning MoneyBeat US – WSJ
Are Stocks Getting Close to a Bottom?
Danske Daily – Danske Bank
Global Daily – ABN AMRO
Markets weighed down by worries about global growth…following a set of soft manufacturing PMIs, led by emerging markets * Meanwhile, decline in eurozone unemployment gains pace
Euro rates update – Nordea
Eye-Opener – Nordea
Another plunge in equities, better mood in Asia, eyes still on China * Nordea’s Economic Outlook out * Yesterday’s German bond performance disappointing * NOK not out of the woods yet
Morning Markets – TF
Worries about China's slowdown spreading to other economies dealt another blow to world markets in equities and commodities, and oil prices slid on oversupply worries. US stocks were pummeled again overnight, and Asian stock markets fell for a third day in a row on Wednesday, with the exception of Japanese shares which shone amid the China-spread gloom.
Daily FX Comment – Marc Chandler
Calmer Markets but Sense of Foreboding still Strong
Daily Shot – TF
The strong US dollar is hitting American manufacturing and exports, and the slowdown in manufacturing is turning into a global trend, economic data show.
Daily Press Summary – Open Europe
Government to propose new campaigning rules for EU referendum * Refugees protest in Budapest after Hungary bars them from passing through to Austria and Germany * Germany cautious on French plans for fiscal and political union in the Eurozone * Creditors begin to show concern over delays from uncertain election in Greece * Markets see rising chance of further ECB action this year * Dutch polls show decline for governing VVD after Greek bailout approval * EU to extend individual sanctions on Russians until March 2016
Brussels Playbook – Politico
States of the unions — Migration crackdown
US Open – ZH
China Stocks Fail To Close Green Ahead Of National Holiday Despite Constant Intervention, US Futures Rebound
Frontrunning – ZH
FX Update – TF
An ugly session on Wall Street yesterday saw USDJPY on the defensive once again, but wily animal spirits improved overnight, sending the pair back above 120.00 as we await the key US data for August through the end of this week.
From the Floor – TF
Yesterday's downbeat US session has given way to a fresh outbreak of risk-on optimism in Asia, and European markets have taken the sudden shift as a sign to go green.
Aamukatsaus – Nordea
Unohtakaa Kreikka – Espanja on seuraava uhka euroalueelle * USA:n teollisuuden luottamus (ISM) tuotti pettymyksen * Brent-öljyn hinnassa roima pudotus | USA:ssa korot painuivat selvästi
Talousnäkymät: Rankka retki – Nordea
Olemme alentaneet Suomen talouden kasvuennusteita lähivuosille. Arvioimme kokonaistuotannon supistuvan 0,3 prosenttia vuonna 2015 ja yltävän vain vaatimattomaan 0,5 prosentin nousuun vuosina 2016 ja 2017 (aikaisemmat ennusteet kuluvalle ja ensi vuodelle olivat -0,2 ja 1,0 prosenttia). Suomen talouden supistuminen venyy näin neljän vuoden mittaiseksi. Myös sen jälkeen kasvu on huomattavasti hitaampaa kuin kilpailijamaissa.
Nordean Aki Kangasharju: Sipilän hallituksen etsikkoaika alkaa olla ohi – Verkkouutiset