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No European solution on the migration crisis in sight – Open Europe
EUROPEAN CENTRAL BANK
Euro area: Sluggish credit growth encourages further easing – Nordea
The new figures on bank lending in the Euro area did not show much difference to the earlier months: growth was positive but still weak. If anything, the continuously sluggish credit growth supports the expectations for further monetary policy easing on 10 March.
Euro-Area Disappointments Mount as Inflation Rates Slip Back – BB
German, French and Spanish prices all drop in Feb. vs year ago * Inflation data for currency bloc due to be published Monday
Central Bank Fatigue? ECB has plenty of tools – Danske Bank
ECB to remove the deposit floor for QE purchases – ABN AMRO
Why ECB’s Draghi Needs To Bring Out The Big Guns This Time – WSJ
Disappointing expectations of a two-tiered deposit rate could lead to tighter conditions
Rate-Hike Odds Surge To Highest Since January – ZH
Q4 GDP Revised Up to 1.0% Annual Rate – Bill McBride
What Changed in the Fourth-Quarter U.S. GDP Report – WSJ
U.S. fourth-quarter growth revised up to 1.0 percent – Reuters
U.S. Growth Revised Higher on Upward Adjustment to Inventories – BB
Q4 GDP Revised To 1.0%: Less Inventory Liquidation; Personal Consumption Falls – ZH
Economists React to GDP Report: ‘Less Than Meets the Eye’ – WSJ
Jan von Gerich: Bond spreads: Resilience – Nordea
While the link between general risk appetite and intra-Euro-area bond spreads has not been totally broken, the ECB’s purchase programmes have weakened this link considerably. Expectations ahead of the ECB March meeting have been building, and leave spreads with some narrowing potential in the near term. Longer out, the potential for further spread divergence remains.
Impotent global institutions make 'grand bargain' elusive – TF
Special Issue: Hedge Fund Rankings 2015 – Bloomberg Brief
How do global investors differentiate between sovereign risks? – BIS
An "old normal": a single global risk factor drives half of the variation in returns. A new normal: global risk factor even more dominant. Fundamentals matter less than whether country designated as an emerging market.
For All its Allure, Helicopter Money Won't Fly – View / BB
Germany Opposes Any G-20 Fiscal Stimulus; Focuses on Reform – BB
G-20 Seminar on Structural Reforms -- Opening Remarks by Christine Lagarde – IMF
After the G20, FX intervention edition – FT
G-20 Needs To "Man Up" Or Risk Sparking Market Chaos, Citi Warns – FT
Danske Daily – Danske Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Vain hopes for G-20 action, Irish vote, policy signals from China * UK GDP growth remained resilient in Q4 * Still good demand for bonds * CHF and JPY suffer
Morning Markets – TF
Shares rallied in Tokyo on a positive lead from Wall Street and the jump in crude prices; the rally lost some of its momentum in late trading. Meanwhile in neighbouring China PBoC governor Zhou told the G20 meeting that Beijing won't devalue the yuan to support China's economy. Market watchers are keeping a close eye on the summit which started today (Friday) and continues on Saturday in case world financial leaders and central bankers have more to say on their forex and monetary policy plans.
Daily FX Comment – Marc Chandler
Global Markets Trying to End Week on Upbeat
Daily Shot – TF
Ahead of the G20 meeting in Shanghai we take a closer look at Asia.
Matt Levine’s Money Stuff – View / BB
Folksy Wisdom and Credit Ratings
Daily Press Summary – Open Europe
Recriminations fly as meeting of EU ministers on migration descends into chaos * Lord Howard: Voting to leave could force EU leaders to come back with a better reform offer * EU to rethink rules on bank bonuses to grant greater flexibility to smaller entities * New poll: Only 15% of Brits trust MEPs to implement UK-EU deal in full * Ireland goes to the polls with a hung Dáil the most likely outcome
Brussels Playbook – Politico
French revolution — Election time — Migration tensions
US Open – ZH
Global Stocks, Oil Continue Streamrolling Shorts On Last Minute Hopes For G-20 Stimulus Announcement
Frontrunning – ZH
FX Update – TF
Global markets are mildly hoping that the Shanghai G20 produces a stimulus-friendly statement. But focus next week likely to shift quickly to US data and key March central bank meetings.
From the Floor – TF
The latest inflation figures out of Japan show a country whose experience may well give the lie to the stimulus hopes surrounding the G20 summit in Shanghai.
FINLAND & FINNISH
Aamukatsaus – Nordea
Mikä onkaan lähtölava * USA:n investointihyödykkeiden tilaukset piristyivät * Ruotsissa luottamus talouteen pysyttelee korkealla * Skandivaluutat liikkuivat hajanaisesti euroa vastaan
Teollisuustyöntekijöiden tappolinja – Roger Wessman
Kuluttajien odotukset yleisestä taloudesta notkahtivat jälleen – Tilastokeskus