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Wednesday, October 21

21st Oct - BoE on Brexit, EC on EZ

Previously on MoreLiver’s:

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Without changing treaties, EU tightens economic screwsPolitico
Europe pushes on with bank bailout schemeFT

The End of German Hegemony. Really?Francesco Saraceno

The case against LuxembourgFT
Juncker helped transform the Grand Duchy of Luxembourg into something of a rogue state that allegedly helps the ultra-rich steal trillions of euros from law-abiding taxpayers across the rich world.

Carney: EU, monetary and financial stability, and BoE – BOE
BoE says EU makes UK economy more dynamic – BBC
BoE wades (tentatively) into EU referendum campaign – Open Europe
BoE chief: Brexit harms Britain – Politico
Cameron will be pleased to have BoE’s Carney’s support – FT
Carney keeps it rational with EU speech – FT
Carney backs Britain’s EU membership – FT

Euro area: banking on stronger credit flows to boost investment – Pictet
What to Expect From Tomorrow's ECB Meeting – BB
Stimulus or Not, ECB Meeting Likely to Restrain Euro – BB

U.S. debt limit wrangling could cause 'accident': Treasury's LewReuters

Liquidity Rules Make Liquid Assets Less LiquidWSJ

Yield Forecast Update Danske Bank
Central banks set the direction in 2016

Morning MoneyBeat AsiaWSJ
U.S. Stocks Stall as IBM Knocked Back

Morning MoneyBeat EuropeWSJ
European Stocks Follow China Lower

Morning MoneyBeat USWSJ
Wall Street Bulls Have This Data on Their Side

Danske DailyDanske Bank

Global DailyABN AMRO
Robust ECB bank lending survey leads to some scaling back of QE hopes…report was more mixed than headlines suggest, and further ECB stimulus still looks likely * No hints from Fed officials on rate hike, while markets remain unconvinced of rate hike this year

Euro rates updateNordea

Quiet before ECB, rates poised to rise as EUR firms * Housing an important source of strength to the US economy * Long yields rise – reflecting positioning

Morning MarketsTF
Wednesday's economic indicator calendar is relatively scant so market attention will instead focus on comments from the world's central bank policymakers ahead of the European Central Bank's two-day meeting which kicks off in Malta tomorrow.

Daily FX CommentMarc Chandler
A Few Brief Thoughts

Daily Press SummaryOpen Europe
Comprehensive opinion survey finds British voters deeply divided over EU membership *
Hammond: Unilateral veto for national parliaments simply would not work * CBI backs EU membership but calls for reform * Schäuble: Fifteen Eurozone countries agreed with my proposal for temporary Grexit * Fiat and Starbucks each owe €20-€30 million, according to landmark European Commission tax ruling * Juncker calls emergency migration summit for front-line countries and Germany * Portuguese Socialist leader says he can form government with backing of smaller leftist parties * Italy’s Central Bank Governor under investigation for alleged fraud and corruption * ECB expected to strike dovish tone but hold policy at tomorrow’s meeting

Brussels PlaybookPolitico
Tax rulings — Merger moves — EU to the moon

It's Back To The Future As Stocks, Futures Jump On The Latest Abysmal Economic News; China Tremors Return

Frontrunning ZH

FX UpdateTF
The latest ECB bank lending survey saw the euro squeezing back higher, but president Draghi will still do what he can to stem further euro gains. Elsewhere, the USD is resilient and USDCAD is back near 1.3000 ahead of today’s Bank of Canada meeting.

From the FloorTF
In Europe the ECB lending survey showed that QE is working. In the US companies are having a hard time growing the top line. In Japan on the other hand trading is taking place at a historical low of 14.4 times forward earnings.

Jenkkitalous hiipuu väliaikaisesti, muttei hyydy * Euroalueen rahoitusolosuhteet ovat kohentumassa * Valtionlainakorot kiipesivät eilen * Rakentaminen pirteää USA:ssa

Heikot pankit heikossa eurotaloudessa Peter Nyberg

Jan Hurri: Myrskyvaroitus: Ääriliikkeet voivat voimistua TalSa
Kreikan Kultainen aamunkoitto ja muut kautta euromaiden nousseet ääriliikkeet ovat finanssikriisien vakioseuraus. Puoluekartta on pirstaloitunut ja äärilaidat vahvistuneet "aina" kriisiaikoina, ja siksi kriisin pitkittyminen on taas kuin poliittinen myrskyvaroitus.

Pertti Haaparanta: Suomi erilainen kuin muut?Akateeminen talousblogi