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EUROPE
The Changing Face of the German Economic
Miracle? – BB
EU aims to boost border agency – Politico
Peter Praet: The transmission of recent non-standard
measures – ECB
Insight into the ECB – Marc Chandler
ECONOMY
KILLS POLITICS
Paul Krugman: Empowering the Ugliness – NYT
Slow train wreck – Kevin O’Rourke
UNITED STATES
No One Knows How Messy the Fed Increase Could
Get – BB
The Fed Awakens – Reuters
Retail Sales in U.S.
Increase by the Most in Four Months – BB
Retail Sales
increased 0.2% in November
– Bill
McBride
U.S. consumer spending rises strongly; producer prices up – Reuters
December Consumer Sentiment increases to 91.8 – Bill
McBride
OTHER
The Limits of Risky Asset Diversification – David
Merkel
Oil Falls to Lowest Since 2008 as OPEC Seen
Fueling Supply Glut – BB
REGULARS
Morning MoneyBeat Europe – WSJ
A Bad Week for Stocks
Morning MoneyBeat US – WSJ
Investors Turn Bearish Amid Oil
Rout, Weak Dollar
Danske Daily – Danske
Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Cautious risk appetite, beaten SEK,
eyes on US retail sales * US retail sales and a close rate decision in Russia *
German yields with another fall * SEK and NOK moving in opposite directions
Morning Markets – TF
China's yuan hit a
four-and-a-half-year low overnight propelling Asian stocks to the downside.
Daily FX Comment – Marc
Chandler
Commodity Weakness takes a Toll,
Rand Fall Continues, US Retail Sales Awaited
Daily Shot – TF
Some investors are beginning to
explore a scenario of central banks starting to exit all the non-traditional
policy accommodation at some point in the future. For example both the ECB and
the RBNZ have lowered rates just to see their currencies appreciate as
investors see no additional easing on the horizon. In other markets oil
continues to fall and JPMorgan takes a closer look at gold.
Daily Press Summary – Open
Europe
New poll: Outcome of
renegotiation likely to swing EU referendum one way or the other * EU
Commission launches migration cases against Italy, Croatia, Greece and Hungary
* EU eyes plans to beef up its border agency * Stephen Booth: Some may think
Cameron’s EU reform demands are not enough, but it’s wrong to call them trivial
* Merkel faces crucial test of confidence at CDU party conference this weekend
* French PM suggests Front National “can lead to civil war” * UK stands firm on
denying prisoners the right to vote * Greece seeking reduction in level of
privatisation in negotiations with creditors
Brussels Playbook – Politico
Awkward Renzi — Orbán
backdown — COP21
US Open – ZH
US Equity Futures
Suddenly Fall Off A Cliff As Europe Slides, Oil Tumbles, EM Currencies Turmoil
Frontrunning – ZH
USD traders are nervous ahead of
next week’s FOMC meeting as the greenback needs to firm a bit to head into next
week on a neutral footing. Today’s US November retail sales therefore is an
important setup for next week’s action.
Once again “oil has
dominated the headlines” and as Lakshmi Thurai from Saxo Bank's Singapore
trading desk reports prices for Brent as well as WTI fell further during the
Asian session prompting Ole Hansen head of commodity strategy to wonder how
deep the slide will be. Meanwhile FX is in a funk ahead of FOMC next Wednesday.
FINNISH
Saksa vastaa
haasteeseen * Venäjän keskuspankki pitää tänään korot ennallaan * EKP:n
neuvostossa pidetään viime viikon elvytystä riittävänä * Turkin talous kasvaa
yllättävän nopeasti
Pekka Ervasti: Yleinen
salaliittoteoria – YLE
Politiikan
kiehuva hornankattila on nyt niin sekaisin, että kansalainen ei selviä ilman
kaiken kattavaa salaliittoteoriaa.
Yrjö Rautio: Aina liian helpolla päässeestä Stubbista tuli ylimielinen –
kunnes hänkin putosi jumalten keinusta – HS
Ruotsin työttömistä 60 prosenttia on maahanmuuttajia vuonna 2017 – Verkkouutiset
Tuoreen ennusteen mukaan Ruotsissa syntyneiden työttömyys
on laskussa ja muualta tulleiden nousussa.
Yksikään talousasiantuntija ei usko pakkolakien työllisyyslupauksiin – Matti
Viren
Taloustieteen professorit lyttäävät hallituksen pakkolait – IL
Taloustieteen professorit Sixten Korkman ja Matti Pohjola
lyttäävät hallituksen pakkolait Aalto-yliopiston lausunnossa.
Valtion
taloudellinen tutkimuskeskus (VATT) arvioi omassa lausunnossaan hallituksen
pakkolakipaketin taloudellisia vaikutuksia.
Sisäinen devalvaatio – Case
Irlanti – Roger
Wessman