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Europe's incompatible political trinities – vox
The Eurozone Crisis has taken a significant toll – both economic and political – on EU member states as well as the Union as a whole. This column identifies three elements that are key to a working solution for continued union: overcoming the intergovernmental method that has dominated EU decision‑making since the crisis, avoiding the seemingly easy route of blaming all evils on ‘Brussels’, and a more unified external representation in global economic governance.
EU Fiscal Stimulus Is Just a Rule Change Away – View / BB
A Nationalist Eastern Europe Could Reshape the EU – View / BB
Poland and Hungary are forming one axis that has a very different view of what the union should be.
Questions for Carney as U.K. Economy Defies Brexit-Vote Gloom – BB
Scarcity in Medium-Term Bonds Emerges as Hurdle for Carney’s QE – BB
U.K. House Prices Decline for Second Month as Sales Soften – BB
UK to build anti-refugee wall in Calais – Politico
UK needs the best of both points-based & work permit immigration systems – Open Europe
Financial forecasts: it’s all about the central banks - September 2016 – Nordea
The hunt for return continues to strongly characterise financial markets developments, supported by the Fed’s dovish stance as well as the easing launched by the ECB, the BoJ and most recently the BoE. Markets losing confidence in central banks would change the picture materially, but that is not our baseline. We continue to look for rather low bond yields throughout the forecast horizon, which now includes 2018. EUR/USD still has downside left but should start to rebound as early as mid-2017.
USDJPY Tumbles On Article: BOJ Struggling To Reach Policy Consensus – ZH
El-Erian: The G-20 Gets It, but Is Unlikely to Act – View / BB
Australia's economy toasts 25 years without recession – Reuters
Danske Daily – Danske Bank
Eye-Opener – Nordea
ISM crashes causing yields and the USD to tumble * Central banks take centre stage * The 10-year Bund yield plunges, September hike probability falls 8pp to 24% * The USD tumbles, while the NOK gains even as oil is unchanged
Morning Markets – TF
World markets have tried in the wake of August's Jackson Hole summit to rally around hopes of a US interest rate hike but it is becoming increasingly clear that the numbers just aren't there.
Euro wrap-up – Daiwa
Daily Market Comment – Marc Chandler
Dollar Stabilizes, but Hardly Recovers
Daily Market Comment – Macro Man
Mr. Bond, they have a saying in Chicago
Daily Press Summary – Open Europe
Brussels Playbook – Politico
US Open – ZH
Futures Flat Ahead Of Apple's Latest Product Launch
Frontrunning – ZH
FX Update – TF
Yesterday’s massive miss in the ISM non-manufacturing survey shocked the USD weaker but sustained directional moves in the major currencies may be hard to come by until the other side of the key FOMC and BoJ meetings later this month.
From the Floor – TF
Gold and other safe-haven assets have rallied and the dollar remains soft as fears have swung from a US rate hike to recession. Risk-on sentiment in Asia however buoys equities.
Aamukatsaus – Nordea
Riksbank ei tänään muuta rahapolitiikkaansa * USA:n palvelusektorin luottamus (ISM) romahti odottamattomasti * Dollari heikkeni USA:n yritysten heikkojen ostopäällikköindeksien seurauksena * Tuore Economic Outlook on nyt luettavissa