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Wednesday, October 19

19th Oct - Final US presidential debate

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Sigmar Gabriel shows support for left-wing coalition Politico
German vice-chancellor visited MPs gathered to discuss a ‘red-red-green’ coalition, angering his current coalition partners.

The ECB Can't Risk a Taper TantrumView / BB

ECB:  Dovish HoldMarc Chandler

Satyajit Das: Productivity Won’t Save the WorldView / BB
Even if productivity growth could be revived, it’s not clear those gains would have as much of an impact on living standards as in the past.

Don’t shoot inflation, overshoot itNordea
Central banks are increasingly talking about allowing inflation to temporarily overshoot their targets. The BoJ has even committed to overshooting. Overshooting is desirable to re-anchor inflation expectations, as too low inflation expectations make monetary policy less efficient. However, market expectations seldom shift in a stable manner and the risk is that inflation expectations too overshoot. That would be very painful for bond markets and increase volatility across asset classes.

S&P 500 Earnings Dashboard | Oct. 19, 2016Lipper Alpha

Danske DailyDanske Bank

China stabilising, inflation damps Fed bets, GBP short-squeezed * Inflation rises in the US and UK. China growing as expected, but expect a slowdown. GBP short-squeezed.

Morning MarketsTF
China's latest GDP update came in exactly in line with forecasts easing slowdown fears but leaving many to wonder if the anomalously on-point print may have been massaged by the government in Beijing.

Daily Market CommentMarc Chandler
Dollar Softer While Consolidation Continues

Daily Market CommentMacro Man

Daily Press Summary Open Europe

Brussels PlaybookPolitico

US Futures, Global Stocks Mixed After Lackluster Chinese Economic Data; Oil Rises Over $51


From the FloorTF
European stocks are opening narrowly mixed this Wednesday in the wake of robust Wall Street and Asian sessions where the latter was supported by an on-target Chinese GDP update.

Kiinan kasvu ei kestä * Ison-Britannian inflaatio kiihtyi syyskuussa lähes kahden vuoden huipputasolle * EKP:n rahapolitiikka on ollut vielä toimivaa * Edessä USA:n viimeinen vaaliväittely

Analyysi: Eurooppalaisten pankkien muuttuvat liiketoimintamallitEuro ja Talous
Millaisia muutoksia eurooppalaisten pankkien liiketoimintamalleissa on ollut vuosien 2010 ja 2015 välillä? Näyttää siltä, että pankit ovat selkeästi keskittyneet ydinliiketoimintaansa ja omiin vahvuusalueisiinsa.