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 Tantrum – View / BB
ECB: Dovish Hold – Marc Chandler
Satyajit Das: Productivity Won’t Save the World – View / 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 it – Nordea
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, 2016 – Lipper Alpha
Danske Daily – Danske Bank
Eye-Opener – Nordea
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 Markets – TF
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.
Dollar Softer While Consolidation Continues
Daily Market Comment – Macro Man
Daily Press Summary – Open Europe
Brussels Playbook – Politico
US Open – ZH
US Futures, Global Stocks Mixed After Lackluster Chinese Economic Data; Oil Rises Over $51
Frontrunning – ZH
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.
Aamukatsaus – Nordea
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