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EUROPE
From Unification to Disunity and Back Again – euinside
My first impression of the appearance of Angela Merkel and François
Hollande in Strasbourg on October 7th was of a weak presentation, way below my
expectations. On the second and third rerun, however I was able to sift out
several extremely powerful messages
Is Ever Closer Union
just a symbolic phrase with no meaningful application? – Open
Europe
A rare interview with the President of the European Court of Justice
demonstrates that the Court interprets EU law in favour of greater integration,
and that this explains why Cameron is keen to extricate the UK from the
commitment to 'Ever Closer Union'.
‘Does’ or ‘Doesn’t’
Juncker think Britain needs the EU? – Politico
Euro area: Industrial
production struggling to gain momentum – Pictet
MIGRATION
Barry Eichengreen: The Crisis Europe Needs – Project
Syndicate
Insiders: EU failing on migration – Politico
Germany struggles to stem tide of
refugees – Politico
UNITED STATES
Ben Bernanke on why he
was right about the economy – WaPo
Rate-Hike Odds Are
Plunging - March 2016 Now A 'Coin-Toss" – ZH
US retail sales slow in September – Danske
Bank
US retail sales soft, but robust consumption overall in Q3 – Pictet
Retail Sales increased 0.1% in September – Bill
McBride
OTHER
Simon Wren-Lewis: A
Stimulus Junkie’s Lament – Social Europe
The Slough of Despond – Frances
Coppola
Macro diversification through trade – vox
Cross-border movement of persons stimulates
trade – vox
REGULARS
Morning MoneyBeat Asia – WSJ
U.S. Stocks Lose Rally
Hat
Morning MoneyBeat Europe – WSJ
Chinese Data Sour
Sentiment
Morning MoneyBeat US – WSJ
Wall Street Readies for
Retail Sales
Danske Daily – Danske
Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Negative inflation in the UK * New
financial forecasts * Negative sentiment in the bond markets going into retail
sales numbers today * Sterling hit hard by lower CPI numbers
Morning Markets – TF
With risk sentiment
lying somewhere between skittish and shell-shocked, world markets search for a
shred of encouraging data among the many ruinous prints. Will today's European
CPI releases do the trick? How about the UK jobs release?
Daily FX Comment – Marc
Chandler
US Dollar Weighed Down by Dovish Fed
Governors
Daily Shot – TF
The spectre of deflation is rearing
its ugly head again and while the price downturn is severest in Japan,
Germany's negative trend is arguably the most worrying as it'll rattle ECB
nerves and will soon make its way into the bloc's core numbers.
Daily Press Summary – Open
Europe
Lloyds Bank Chairman: EU
membership unsustainable without significant change *
New President of
European Court of Justice: “strong link” between Court and EU integration * Get
control of migration crisis or “risk confidence vote” Merkel told at party
meeting * The Daily Mail: Cameron set to postpone unveiling EU renegotiation
demands until March 2016 * Polish Central Bank Governor: Election results could
imperil Poland’s economic stability * EU referendum bill clears first hurdle in
the Lords * Newcomer centrist party could be kingmaker in Spanish election, two
new polls show * Renzi’s landmark constitutional reform clears important hurdle
* ECB sets higher capital threshold for Greek banks in upcoming stress tests * Portuguese
Socialist leader: “Europe can rest easy, we’re not SYRIZA” * Irish budget
outlines tax cuts and spending increases * Dutch referendum on EU-Ukraine
Association Agreement confirmed * EU to target free trade agreements with
Australia and New Zealand
Brussels Playbook – Politico
Tax and trade talk —
Polish election — Oktoberfest
US Open – ZH
Futures Continue Slide
On Latest Chinese Economic Disappointments, Gold Hammered
Frontrunning – ZH
Stock markets in general
are under pressure again and Brazil was hit particularly hard. Several emerging
markets currencies fell considerably.
FINNISH
BOJ
elvyttää jeniä heikommaksi * Kiinan inflaatio hidastui odotettua nopeammin * Britannian
inflaatio painui nollan alapuolelle * Turvasatamakysyntä oli eilen korkealla
Suomessa hyvää ja huonoa
deflaatiota – Roger
Wessman
Sauli Niinistö Turkissa – Jyrki
Virolainen