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Friday, September 30

30th Sep - Deutsche Bank drama

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Hungary will go its own way on migration policy – Politico
Euro area core inflation lacks momentum – Pictet

Deutsche shares drop after hedge funds cut exposure – FT
Bye, bye Basel: shielding Europe’s banks – FT
Deutsche Bank’s liquidity now and what happens next – ZH
Editorial: Deutsche Bank's Troubles, Europe's Failures – View / BB
Deutsche Bank’s CoCos Touch Record Lows in Fresh Selloff – WSJ
Deutsche Bank Drops to Record Low as Clients Reduce Risk – BB
Deutsche Bank's Cryan: ‘No Basis’ for Speculation – BB
Ten People Who Will Be Key in Deciding Deutsche Bank’s Future – BB

Bye bye austerity, hello fiscal easing BlackRock
Policymakers are changing their tone on fiscal policy. More governments are now looking at fiscal support, and the focus on austerity has faded as monetary easing reaches its limits.

Quarterly Outlook: The new mantraTF
The message from the world’s central bankers is clear – monetary policy must be supplemented by government fiscal stimulus. Fortunately historically low interest rates make this a viable alternative.

Hot Mess: How Goldman Sachs Lost $1.2 Billion of Libya’s MoneyBB
When Wall Street’s most aggressive bank took on the world’s most incendiary client, someone was going to make a killing.

Matt Levine: Goldman's Libya Salesman Was a Little Too GoodBB

Secret Alpine Gold Vaults Are the New Swiss Bank Accounts BB

Danske DailyDanske Bank

Euro-area inflation set to rise somewhat. European bank worries triggered a flight-to-quality. Weaker high-beta currencies, stronger JPY

Morning MarketsTF
European stocks are set to limp to a lower close on this final day of September following a soggy Wall Street session and a lower close across Asia's leading bourses with sharp falls in Tokyo and Sydney in particular amid worries about the banking sector.

Daily Market CommentMarc Chandler
Dollar Finishing Week on Firm Note

Daily Market CommentMacro Man
DB: end of the beginning or beginning of the end?

Daily Press SummaryOpen Europe

Brussels PlaybookPolitico

Global Stocks Slide As Deutsche Bank Fears Rise: Flight To Safety Boosts Bonds, Bullion


FX UpdateTF
The G3 currencies and Swiss franc were strong and the riskier currencies were generally weak as a wave of risk-off engulfed markets late yesterday related to Deutsche Bank. Little on the calendar today – the end of the quarter by the way – to occupy the market’s notably weak attention span.

From the Floor TF
Deutsche Bank's woes are casting a shadow over markets to bring risk-off firmly back into the frame but there is as of yet no real panic in the bonds segment.

Euroalueen inflaatio kiihtyy * Kiinan Markit-ostopäällikköindeksi (PMI) indikoi teollisuussektorin maltillista kasvua * Saksan inflaatio kiihtyi syyskuussa odotusten mukaisesti * Markkinoiden riskisentimentti laskussa