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EUROPE
Europe Monthly – Daiwa
FRANCE
The National Front doesn’t have enough money for a presidential campaign
— and its funding options are far from ideal.
Sarkozy recordings
reveal National Front flirtation – Politico
Sarkozy frequently voiced sympathy for the values of France’s far-right
National Front, according to excerpts from a new book.
ITALY
Matteo Renzi is running against the EU to save his own career — and even
EU leaders who find his criticism exasperating concede that the bloc’s survival
may hinge on his success.
Italians faces one of the most important votes in Italy's history but a
new report by HSBC shows that most people have no idea what they are voting on.
HSBC Sees No Good
Outcome for Italy’s Bonds From Renzi Vote – BB
Nation is due to vote on constitutional reforms on Dec. 4 * Bank says
bonds would underperform Spain’s on ‘No’ result
Renzi and the Italian
Referendum: Disruption Potential Minimized – Marc
Chandler
UNITED KINGDOM
Britain should have no access to single market unless it accepts freedom
of movement, says ECB chief
Deputy foreign minister worried for Romanian citizens in U.K. * Britain
urged to decide what relations it wants with EU
BANKS
German government moves swiftly to douse bailout talk * Debate highlights
chancellor’s tangled history with bank
Angela Merkel would have to be either brave or foolish to let Germany’s
biggest bank by assets fail
Deutsche Bank Stock
Crashes Near Single-Digits As CDS Spike To Record Highs – ZH
European regulatory and banking sources say "Basel IV" unfairly
penalise Europe's banks.
Bank resolution in the
Banking Union – Jussi
Lindgren
Deutsche Bank Curve
Inverts, Bundesbank Dismisses State Support – ZH
UNITED STATES
PRESIDENTIAL
DEBATE
Clinton, Trump Draw Stark Contrasts With Sharp Debate Attacks – BB
Market participants react to debate – Reuters
Clinton gains in online betting markets after U.S. presidential debate – Reuters
Mexican Peso Jumps, Gold Retreats as Clinton Seen Winning Debate – BB
Debate Cheat Sheet: Trump and Clinton on the Economy – WSJ
Clinton gets under Trump’s skin – Politico
Clinton hits where it hurts, Trump’s reaction hands her a win – Politico
Trump Takes the Bait and Hooks Himself – View / BB
Trump Scored One Point in the Debate as Clinton Stumbled on Iran – View / BB
Trump's Strengths Didn't Help Him This Time – View / BB
One Candidate Rose to the Occasion. Guess Which. – View / BB
Mexican Peso Declares Clinton Debate Winner – WSJ
Paul Krugman: Trump On Trade – loud, confident nonsense – NYT
OTHER
Hans-Werner Sinn: Secular
Stagnation or Self-Inflicted Malaise? – Project
Syndicate
The only way out of the trap is a hefty dose of creative destruction,
which in Europe would have to be accompanied by debt relief and exits from the
eurozone, with subsequent currency devaluations.
Iran Doesn’t Want Oil
Deal in Algiers, Won’t Freeze Output – BB
WTO Says Global Trade in
Its Worst Year Since Financial Crisis – BB
Trade Protectionism
Risks Deeper Global-Growth Funk, IMF Warns – WSJ
Global Trade To Grow At
Slowest Pace Since Financial Crisis – ZH
World Economic Outlook Analytical Chapters – IMF
Global Trade: What's behind the Slowdown? * Global Disinflation in an Era
of Constrained Monetary Policy * Spillovers from China’s Transition and from
Migration
REGULARS
Markets see Clinton as winner – MXN
jumps. German Ifo index at its strongest level since 2014. Bund keeps grinding
lower. Election uncertainty weakening the USD.
If markets are the barometer then
Hillary Clinton was the one landing the telling blows in the presidential
debate as she ducked and weaved her way to a marginal victory over rival Donald
Trump. Yet while the relief rally spurred Mexico's peso there is a long way
still to go before November 8.
Euro wrap-up
– Daiwa
US Debate Lifts Peso, but Leaves the
Dollar Non-Plussed
So much for the holding pattern
Sarkozy says his first act as French
President would be to “re-found the EU from top to bottom” including a new
treaty * Labour criticise Government for not laying out negotiating position
but say the party is still “considering” its own * ECB President warns over
giving UK special deal *
Axel Springer chief says Britain
will be better off than continental Europe in three to five years *
Referendum on Italian constitutional
reform to be held on 4 December * Mortgage approvals at lowest level for 18
months but Moody’s see commercial property market as robust * Slovakian PM says
EU refugee quotas are “politically finished” * Commission Vice President says
Syriza populism led to the need for more austerity * German business confidence
hits two year high * Merkel calls for migration deal with Egypt and other
African and Middle East nations
Juncker and Schulz together again —
Guterres leads at UN — Clinton trumps Trump
"Hillary Rally" Fizzles As
DB Hits New Record Low; Volkswagen Slammed; Oil Slides On Iran Statement
The action across markets took on a
risk-on/risk-off tone in anticipation of the US presidential debates where
nervousness ahead of the debates quickly yielded to a relief rally as Clinton
was the perceived winner. The currency winner was the Mexican peso
Last night's US election saw
Democratic candidate and investor-reassuring avatar of continuity Hillary
Clinton put in a solid performance that is boosting stocks and sentiment across
world markets.
FINNISH
USA:n
vaaliväittelyssä jatkettiin totutulla linjalla * Saksan luottamusta mittaava Ifo-indeksi
yllätti positiivisesti * Meksikon peson kurssi on heikentynyt Trumpin
kannatuksen nousun tahdissa