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Financial union: Resilience in the Eurozone – vox
A fully-fledged financial union can be an efficient economic shock absorber.
Deutsche Bank CEO Warns Of "Fatal Consequences" For Savers – ZH
Paul De Grauwe: How to prevent Brexit from damaging the EU – Europp
EU should offer the UK two options: either following a Norwegian style model or leaving entirely and negotiating a free trade agreement in the same manner as other nations such as the United States and Canada. Offering any concessions outside of these two options would risk fatally weakening the EU and should be avoided at all costs.
Merkel Says EU Faces Hard Work to Overcome Brexit Setback – BB
German Companies Get Delayed Brexit Shock as Confidence Plunges – BB
Policy spillovers and synergies in a monetary union – ECB
Central bankers eye public spending to plug $1 trillion investment gap – Reuters
While markets wait for Janet Yellen's latest message about the direction of monetary policy, the Federal Reserve chief and her colleagues already have one for politicians: the U.S. economy needs more public spending to shift into higher gear.
Heading Down The J-Hole: "The Fed Isn't Hawkish" – ZH
Fed’s George Says Inflation Gains Call For Near-Term Rate Hike – BB
Years of Fed Missteps Fueled Disillusion With the Economy and Washington – WSJ
Kocherlakota: The Fed Knows How to Hit Its Target – View / BB
Inflation, QE, money, banking and other stuff – Jussi Lindgren
Majority of analysts see BOJ easing in September, changing price goal wording – Reuters
But about 40 percent of analysts surveyed said they expected the central bank to keep monetary policy unchanged,
Richard Koo’s chart to explain the past 200 years – FT
Danske Daily – Danske Bank
Eye-Opener – Nordea
Waiting for Yellen * More good news from US manufacturers today? * EUR core and semi-core yields a tad higher * Weaker EUR, stronger GBP
Morning Markets – TF
Asian currencies moved sideways and equities traded gently lower in a lacklustre overnight session as investors awaited Friday's keynote address in Jackson Hole by Janet Yellen chair of the US Federal Reserve.
Euro wrap-up – Daiwa
Daily Market Comment – Marc Chandler
Narrow Ranges Prevail as Breakouts Fail
Daily Market Comment – Macro Man
The lowest vol in a lifetime
Daily Press Summary – Open Europe
UK net migration at 327k in year to March 2016 as May considers quick crackdown on non-EU migration * Merkel prepares groundwork for new balance within EU and shows willingness to give UK time to prepare for Brexit * Norway keen to keep close ties with UK after Brexit but admits it may take time * Corbyn camp dismisses Smith’s suggestions of second EU referendum as “devious and undemocratic” * US Treasury accuses the EU of trying to establish a “supranational tax authority” * New poll sees Germany’s AfD on a two-month high * Leader of the Danish People’s Party resigns after being accused of identity theft * European Commission clears recapitalisation of Portuguese state-owned bank * Switzerland more concerned with migration routes from Italy than Austria * EU to train Libya’s coastguard in a bid to reduce migration
Brussels Playbook – Politico
US Open – ZH
Global Stocks Decline Along With The Dollar, As Jackson Hole Begins
Frontrunning – ZH
FX Update – TF
The market gods have their thumb firmly pressed on the pause button as we await the twin risks of potential policy signaling from Fed chair Yellen tomorrow and what the Bank of Japan has to say at its September meeting. The market may be expecting too much for the short term from Yellen though she could deliver and important long term shift in the Fed's policy stance.
From the Floor – TF
Investors in gold are just one of many whose eye is firmly fixed on the Jackson Hole summit particularly those who have seen some spectacular returns from a 10% plunge in the Gold Miners ETF.
Aamukatsaus – Nordea
Norjan suunnitellut öljyinvestoinnit laskussa * Euro heikentyi eilen laajalla rintamalla * Saksan talouselämän luottamus (Ifo) julkaistaan * Ruotsin työttömyys hienoisessa nousussa
Dialogi taloustieteen poliittisuudesta – Allan Seuri