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Tuesday, December 15

15th Dec - Eve of the Fed



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EUROPE
Juncker urges stronger Commission role on euro – Politico

Spain: Hung parliament to spell disaster? – Nordea
Spanish election debate: an ill-tempered, anachronistic duel – FT

Swedish monetary policy: on hold but still under pressure to ease in 2016 – Pictet
Riksbank stands pat - for now – Danske Bank

Yanis Varoufakis: The Great Greek Bank Robbery – Project Syndicate

Fiscal rules, fiscal space and procyclical fiscal policy – ECB

  MIGRATION CRISIS
5 myths regarding the current refugee and migration crisis – CapX
Merkel gets the vision thing on migration – Politico
Merkel Backpedals On Migrants Amid Growing Furor – ZH
Countries balk at EU border force proposal – Politico


UNITED STATES
While Waiting for the Fed, Don't Forget Fiscal Policy – Marc Chandler

  FEDERAL RESERVE
So you want to raise rates? Cut out and keep edition – FT
Deutsche Bank's Two Top Trades After A Fed Rate Hike – ZH
Here's What the Fed Will Be Watching to See If Liftoff Worked – BB
Why Foreign Inflation Matters to Janet Yellen – BB
Everything you need to know about the hike – WSJ
Larry Summers: What the Fed got wrong, and what it should do next – WSJ
5 Things to Watch at the Fed Meeting – WSJ
George Magnus: Is the Fed’s interest rate hike a major error? – Prospect
The Fed's New Chapter Will Be Written in Dollar-Denominated Oil – BB


REGULARS
Morning MoneyBeat Asia – WSJ
U.S. Stocks Recover as Energy Selloff Abates

Morning MoneyBeat Europe – WSJ
Stocks Climb With Fed Meeting Set to Start

Morning MoneyBeat US – WSJ
Contagion Fears Are Growing

Danske Daily – Danske Bank

Euro rates update – Nordea

Eye-Opener – Nordea
Riksbank on hold, JPY and EUR safe havens, oil reaches new lows * No more from the Riksbank * Market reducing chance of Fed rate hike as stocks drop * Risk sentiment holds JPY and EUR firm

Morning Markets – TF
The case building against a Fed rate hike is growing but that august body has no choice but to push through having set the market up for the move. It got cold feet in September but this time it will follow through.

Daily FX Comment – Marc Chandler
Corrective Forces Dominate

Daily Shot – TF
Low oil prices problems in the credit market and certain shares are under extreme pressure. Yet what is a nightmare for some is an investment opportunity for others.

Daily Press Summary – Open Europe
Italy backs UK on need for different levels of integration within the EU * House of Commons’ EU scrutiny committee warns Government over EU treaty changes * New EU referendum polls put ‘Remain’ and ‘Leave’ neck-and-neck * Poland criticises European Commission’s plan for beefed-up border agency * Merkel receives strong backing for her refugee policy at CDU party conference * Poland demands apology from European Parliament President over ‘coup’ remarks * Greece confirms €1.2bn privatisation of 14 regional airports

Brussels Playbook – Politico
All eyes on Strasbourg and Spain — Merkel safe

US Open – ZH
Futures Surge, Oil Rebounds As Fed Starts Historic Two-Day "Rate Hike" Meeting

Frontrunning – ZH

FX Update – TF
Risk-off and plunging oil prices have the market predicting the mother of all dovish rate hikes tomorrow from the FOMC. In the meantime we have a busy economic calendar today for SEK GBP and EUR traders.

From the Floor – TF
An oil price approaching the 2008 low puts pressure on credit markets and some currencies. But there are positive signs as well.


FINNISH
Aamukatsaus – Nordea
Euron veturi vaihtui * Ruotsin rahapolitiikassa ei nähdä tänään muutoksia * Hinnat laskivat Suomessa marraskuussa * Fedin koronnoston lähestyminen heiluttaa valuuttamarkkinoita

Olli Herrala: Kun rotta on jättänyt hukuttamansa laivan – KL

Pekka Seppänen: Hallitus ei pysty pilaamaan kaikkea – IS

Romuttuivatko jo toiveet käänteestä kasvuun? – Roger Wessman

Kausitasoitettu tuotanto supistui lokakuussa – Tilastokeskus
Q3 vaihtotase ylijäämäinen, nettovarallisuusasema heikkeni – Tilastokeskus
Q3 teollisuuden liikevaihto -5% prosenttia – Tilastokeskus
Kaupan myynti lokakuussa 6,5 prosentin laskuun – Tilastokeskus