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EUROPE
Viktor Orbán’s vision of a bigger, looser Europe
– Politico
One of the EU’s loudest
critics advocates expansion — because the bigger it gets, the less integrated
it becomes.
The EU's Migration Crisis Is Far From Over – BB
Thousands of
undocumented migrants are still arriving in the EU, and there's no easy
solution to the political crises that creates.
Q2 EZ Growth Bolstered by Exports as Investment Stalls – BB
EUROPEAN
CENTRAL BANK
ECB Faces Bond-Buying
Shuffle With QE Extension on the Cards – BB
Euro area monetary
policy and its discontents – Jussi
Lindgren
Why the ECB May Need to
Heed Master Yoda’s Advice – WSJ
GERMANY
Top German politician:
Merkel’s days are numbered – Politico
Schaeuble sees scope for
15 billion euro in tax cuts after 2017 vote – Reuters
How Angela Merkel will
weather the storm – Politico
Pulling Up the German
Welcome Mat? – Project
Syndicate
Editorial: Merkel Needs
Europe's Help – BB
UNITED
KINGDOM
Brexit: everyone got it
wrong – Eric
Lonergan
UK retail spending dips
after July leap, sun not Brexit behind shift: BRC – Reuters
Carney’s Brexit Nemesis
Says Bank Acted Too Early – BB
Morgan Stanley
Economists Join Goldman Revising Brexit Outlook – BB
OTHER
Credit Outlook Q4 2016: Overweight, but reducing risk – ABN
AMRO
Hedge funds and prop traders trade FX 30% less than three years ago – ZH
G20
G20 economies well placed to deal with Brexit uncertainty: communique – Reuters
A success for China, but hard issues kicked down the road – Reuters
Promises to coordinate on economy, but little in way of concrete steps – Reuters
REGULARS
Danske Daily
– Danske
Bank
Eye-Opener
– Nordea
Revised Euro area GDP * Nordea
Economic Outlook out today at 9 CET * Euro area bond markets waiting for
Thursday * Yen surged as Kuroda didn’t mention new easing measures,
Morning Markets
– TF
Oil prices kept enough of their
Monday surge to keep sentiment mildly positive on Tuesday and Asian stocks
gained while markets waited for the Americans to come back from the Labor Day
holiday which had closed Wall Street trading on Monday.
Euro wrap-up
– Daiwa
Daily Market Comment
– Marc
Chandler
Dollar Heavy in Quiet Markets
Daily Market Comment –
Macro Man
Storm...in a teacup??
Daily Press Summary
– Open
Europe
David Davis suggests UK is seeking
controls on immigration and access to, but not full membership of, single
market * Sturgeon offers to form coalition to keep Britain in single market * China
and others show willingness to discuss bilateral trade agreements with the UK *
European Commission to unveil plans for EU military cooperation which could act
‘autonomously’ from NATO * Italian Foreign Minister calls for “core EU” of up
to twelve member states * Merkel takes responsibility for AfD’s strong showing
in local election * Italy to propose Eurozone joint unemployment insurance
scheme * Sarkozy may face trial over alleged illegal campaign financing, in
potential blow to presidential bid
Brussels Playbook
– Politico
Roam (not quite) like at home — G20
tax déjà vu — The new Renzi
US Open – ZH
Traders Return From Vacation To Find
S&P Futures Flat, Oil And Dollar Lower, Amid Flurry Of M&A
Frontrunning
– ZH
FX Update
– TF
In the absence of any real US dollar
picture at the moment the main theme in the FX market is the strength in
smaller currencies versus the G3 currencies amid extreme global asset-market
complacency and a hunt for yield.
From the Floor
– TF
The recent verbal interventions in
the oil market may lack substance but for now they seem to be forcing short
sellers to take a more cautious approach to the market.
FINNISH
Aamukatsaus
– Nordea
Suomen
talouskasvu ei ole pysynyt Ruotsin tahdissa * Uusin Economic Outlook
julkaistaan tänään kello 10 * Britannian yritysten luottamus (PMI) nousi yli
kansanäänestystä edeltäneen tason * USA:n palvelusektorin luottamus (ISM)
julkaistaan tänään