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EUROPE
EU executive to float
ideas on deeper euro zone integration – Reuters
The European Commission will present ideas on Wednesday on how to help
countries sharing the euro to integrate more effectively over the next two
years, including the way they manage banks and budgets.
EUROPEAN CENTRAL BANK
Results of the October
2015 euro area bank lending survey – ECB
ECB Says Credit
Standards Improve as QE Program Supports Lending – BB
Lessons for Draghi From
a Land of Sub-Zero Interest Rates – BB
Denmark has had mostly negative interest rates since mid-2012. Main
effects have been higher asset prices, not growth.
The ECB still has
options to weigh on the currency – Pictet
UNITED STATES
US: heading into a
recession? – Nordea
While we see the probability of a US recession as rather low, the odds of
a December rate hike are believed to be close to 50-50.
Housing Permits To 7-Month Lows Despite Decade-High Homebuilder Sentiment
– ZH
Housing Starts increased
to 1.206 Million Annual Rate in September – Bill
McBride
Demand for rental
apartments boosts U.S. housing starts – Reuters
Housing Starts Rise as Construction Underpins U.S. Economy – BB
OTHER
The Trading Game – BB
Five economic charts – Macro
Man
China’s Economy Is Slowing Hard, Just Not
Officially – Alpha
Now
REGULARS
Morning MoneyBeat Asia – WSJ
U.S. Stocks Hampered by Morgan
Stanley’s Surprise
Morning MoneyBeat Europe – WSJ
Stocks Edge Lower; Oil Weighs
Morning MoneyBeat US – WSJ
What to Expect from Tech Earnings
Danske Daily – Danske
Bank
Euro rates update – Nordea
Eye-Opener – Nordea
NAHB index surprises, equities up,
oil down, still waiting for ECB * Riksbank inflation equation still impossible
* Bond markets stymied waiting for ECB * USD stronger on China and NAHB, SEK
weaker
Morning Markets – TF
Today the ECB publishes
its lending survey. In the current climate, amid new worries about growth, it
would be worrisome if the data does not show another round of easier lending
standards.
Daily Shot – TF
Daily Press Summary – Open
Europe
Cameron: Those who want to leave EU
will have to answer question of single market access *
The Daily Telegraph: Italy could
support UK on safeguards for non-Eurozone countries * Bank of England to
release report on UK’s EU membership this week * Former ECB President: FTT
limited to eleven EU countries would penalise France * Law and Justice’s
Szydło: Poland needs to be more assertive within the EU * Turkish PM: We will
not serve as “concentration camp” for Syrian refugees * Farage criticises BBC
for using ‘Europe’ as shorthand for the EU * Spanish newcomer centrist party
gains six points in one month, new poll shows * Tax ruling on Starbucks and
Fiat expected to set precedent on tax avoidance * German Interior Minister
calls Pegida movement “hard right-wing extremists” * Greek government under
pressure to enact reforms to unblock bailout cash * Ireland saw largest decline
in wealth per person during the Eurozone crisis
Brussels Playbook – Politico
Canada’s shock Liberal
win — Brexit bombshell from BoE
US Open – ZH
Futures Halt Three-Day
Rally, Drop On Energy Weakness, IBM Earnings
Frontrunning – ZH
Canada’s Liberals swept to victory
in Canada’s election and manage to form a majority government, weakening the
loonie on policy uncertainty. Elsewhere, can ECB president Draghi clear the
rather high bar for a dovish surprise on Thursday?
The Canadian dollar fell
sharply in overnight trading after Justin Trudeau's Liberal Party swept to
victory in an landslide that echoed his father Pierre's equally stunning
electoral win almost half a century ago. While a Liberal victory had been
expected, an outright majority was not, and markets are disturbed by what they
fear will be a freewheeling, free-spending, tax-cutting spree by Canada's new
prime minister.
FINNISH
Suomessa on synkistelty liian vähän * Käänsikö
Katainen Suomen talouden taantumaan? * Fedin Dudley ja Yellen pitävät tänään
puheet * Euroalueen reunamaiden korot jatkoivat laskuaan
Investointien
vaimeudesta – raportti talousneuvostolle –
Suomen
Pankki
Piristääkö
deflaatio talouskasvua? – Roger
Wessman