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Thursday, September 15

15th Sep - BoE stands pat, EU quarrels

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EPP stares down Schulz over Parliament presidency Politico

Editorial: How the EU's Leaders Should Think About BrexitView / BB

How Do We Bring Back the Soul of the EU in the Bodies of Member States?euinside

Martin Schulz: Donald Trump is a problem for the worldPolitico

Juliet Sanuel: The EU's federalists are heading for defeat. Britain must be ready to pick up the pieces The Telegraph

May prepares for Brexit talks, keeps Europe guessing – Reuters
Does Brexit spell the end for English as the lingua franca of the EU? – Europp
BoE signals new rate cut despite Brexit bounceback – Reuters
BoE Holds Rate But Hints at Cut This Year – BB
BoE Keeps Rate, QE Unchanged As Expected, Hints May Cut More – ZH
Another rate cut later this year a close call as indicators have been better – Danske Bank
Bank of England on hold, sterling stable for now – Pictet

Review of FOMC Projections Bill McBride
Almost all analysts are expecting no policy change at the September meeting

El-Erian: Markets' Focus on Timing of Fed Hike Is a DistractionView / BB

Ben Bernanke: Modifying the Fed’s policy frameworkBrookings
Does a higher inflation target beat negative interest rates?

Fund Managers' Current Asset Allocation – September The Fat Pitch
Even after the sell-off over the past week, global equities are more than 15% higher than in February. A tailwind for this rally has been the bearish positioning of investors, with fund managers' cash in February at the highest level since 2001. Similarly, their equity allocations in February had only been lower in mid-2011 and mid-2012, periods which were notable lows for equity prices during this bull market.

The Trouble With MacroeconomicsPaul Romer

Danske DailyDanske Bank

More flexible Riksbank policy * Yields returned to prior to Tuesday’s minor sell-off * GBP mixed ahead of BoE meeting today

Morning MarketsTF
Asian stocks ticked lower on Thursday tracking Wall Street weakness and a renewed slide in crude oil prices. Back in Europe whatever about the level of trading activity it'll be a busy day in terms of economic data releases and events.

Euro wrap-upDaiwa

Daily Market CommentMarc Chandler
Early Update: Full Calendar but Little News

Daily Market CommentMacro Man
A respite from the cesspit

Daily Press SummaryOpen Europe
European Commission sets up Brexit task force, as Bank of England builds its Brexit team *
Senior bankers warn it will take a number of years for sector to adjust to Brexit * EU official: Any compromise on free movement with Switzerland will set precedent for UK * Hollande’s ally says he will run for second mandate in 2017 “for sure”

Brussels PlaybookPolitico
EU reset — Two dueling presidents — SOTEU wrap

US Futures, European Stocks Rebound, Bonds Fall Ahead Of US Data Deluge


FX UpdateTF
Today’s UK retail sales and guidance from the Bank of England will hopefully provide near term resolution for GBP pairs after a choppy week of trading that continues to frustrate trend traders. Elsewhere a flurry of US data today includes retail sales numbers for August.

From the Floor TF
Equities markets may be stabilising and sterling could froth in and around today's bank of England meeting but really we already all in countdown mode towards the pivotal meetings on September 21.

Englannin keskuspankki jää tarkkailemaan talouden kehitystä * Riksbank harkitsee joustavampia tavoitteita * Tänään saadaan USA:n vähittäismyyntiluvuista selkeyttä talouden tilasta heikkojen luottamuslukujen jälkeen

Suomen ristiriitaiset vientiluvut Roger Wessman