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EUROPE
SWEDEN
Here's One Europe Central Bank Turning Corner With Its Currency – BB
Banks in Sweden Told to
Add Risk Weights to Government Bonds – BB
MIGRANT CRISIS
Gideon Rachman: The end of the Merkel era is within sight – FT
EU to give more budget leeway to states facing extra refugee costs – Reuters
Tusk Sees Threat to Borderless Travel as Slovenia Eyes Fence – BB
EUROPEAN CENTRAL BANK
Monetary developments in the euro area:
September 2015 – ECB
Euro area: big drop in credit flows in September to be reversed – Pictet
Euro zone bank lending sluggish despite tsunami of QE and cheap cash – Reuters
Draghi's compromise with doves heralds ECB policy easing in December – Reuters
UK Q3 GDP
Quarterly growth 0.5% - The
Economist
Growth lower than expected – Nordea
Economy Expands Less Than Forecast as Production Cools – BB
Growth slowed in Q3 - services doing fine while manufacturing suffers – Danske
Bank
Britain’s growth slowdown no “game changer” – Reuters
UNITED STATES
FEDERAL
RESERVE
Can the Fed surprise as much as the ECB? – TF
There Are Going to Be Some Major Debates Inside the Fed This Week – BB
Yellen Has Over 6 Million Reasons to Take Her Time Raising Rates – BB
Why the Fed may have to hike rates – TF
DEBT CEILING
White House urges Congress to pass budget compromise reached by leaders –
Reuters
Treasury Bill Rates Slide Below Zero After Debt-Ceiling Accord – BB
DURABLE GOODS
Durables Report Pulls GDP Estimates Down Even Further – WSJ
Durable Goods Orders Tumble For 6th Consecutive Month – ZH
Weak U.S. business spending plans point to slower economic growth – BB
OTHER
FX: another Quantitative Repricing? – Nordea
The market was
positively surprised by the dovish rhetoric from the ECB in October. The
question is no longer if the ECB will launch more stimulus, it’s mostly how
much, and how to discount it. The market reaction from Draghi should be
encouraging for the doves in Frankfurt, but is no game-changer for the Fed.
Indeed, the EUR could be about to experience another Quantitative Repricing
between now and New Year’s Eve.
720Global: Is the Yield Curve Still a Dependable
Signal? – ZH
Markets Monitor October
2015 – OFR
REGULARS
Morning MoneyBeat Asia – WSJ
U.S. Stocks Ease Back Ahead of Fed
Meeting
Morning MoneyBeat Europe – WSJ
Fed Stalls Market Action
Morning MoneyBeat US – WSJ
Stocks Set for Best Month in Four
Years. Can it Hold?
Danske Daily – Danske
Bank
Global Daily – ABN
AMRO
FOMC statement to signal uncertainty
about timing of rate rise * We expect the Fed to delay lift-off until 2016 * Germany’s
Ifo only slightly lower – economy cushioned by domestic demand
Eye-Opener – Nordea
Tentative US budget deal; yields
lower; EUR rebounds * UK Q3 GDP to show solid growth * Rates markets gone into
too extreme easing mode * USD eases, GBP to gain on stronger data
Morning Markets – TF
Shares across Asia
headed lower on an uninspired Wall St lead and cheap commodities.
Daily FX Comment – Marc
Chandler
Dollar Eases as Key Events Still
Awaited
Daily Press Summary – Open
Europe
FAZ: Merkel needs to
follow up her words with deeds in order to keep the UK in the EU *
Senior PiS MP: We have a
different vision for Europe than the Franco-German one * Spanish PM calls
general election for 20 December * CSU leader criticises Austria for
mishandling refugee flow and warns Merkel to “end this practice” * EU
Commissioner: Real challenge of our quota scheme is that refugees need to stay
where they are relocated to * MPs force government to lobby against ‘tampon
tax’ in Brussels
Brussels Playbook – Politico
Ukraine ruling — The
‘King of Poland’ — Tax time
US Open – ZH
Futures Flat After Yen
Carry Tremors As Fed Starts 2-Day Policy Meeting
Frontrunning – ZH
Currency traders are doing
everything they can at the moment to keep the price action corralled in a tight
range ahead of this week’s key event risks. Today, sterling may react to any
significant GDP surprises.
Markets swung into
risk-off gear overnight as the rally inspired by China's dovish broadside last
Friday ran out of steam, edging most Asian equity indices into the red and
boosting familiar safe havens ahead of tomorrow's crucial Federal Reserve
statement. European markets have followed suit. But while the mood is skittish
the going is still sluggish and volumes are on the light side.
FINNISH
Suomen viennillä kaksi mahdollisuutta * Saksalaisyritykset
aiempaa optimistisempia * Tänään luvassa Britannian BKT-luvut * Ruotsista
saadaan tiedot teollisuuden luottamuksesta
Kulutus
ja sisäinen devalvaatio – Roger
Wessman