Google Analytics

Wednesday, October 5

5th Oct - Good service sector numbers

Follow ‘MoreLiver’ on Twitter

Sterling drops to three-decade low amid ‘hard Brexit’ concerns – BB
Banks to Miss Out on Special Favors in May’s Brexit Plans – BB
Global Banks Fight Back on Brexit, Warning $51 Billion at Stake – BB
BoE faces quandary as UK weathers early Brexit hit – Reuters

Euro Surges After Report ECB Considering a QE ‘Taper’ – WSJ
QE tapering on the agenda - but more is needed first – Danske Bank
Tapering is no answer for bond scarcity – Pictet

Mark Gilbert: Deutsche Bank, Lehman and the End-of-Days Debate – View / BB
IMF says European banks need urgent asset clean-up, consolidation – Reuters
Economic Recovery Won’t Be Enough for 25% of Banks, IMF Says – BB

Euro zone business growth at 21-month low in September - Reuters
Eurozone Composite PMI – Markit

BofA: Evidence Of An Imminent Recession ZH

Should the Fed be worried about inflation? – ABN AMRO
Hard To Say That November Is Really "Live" – Tim Duy

ADP Employment Tumbles As Manufacturing Slump Continues – ZH
ADP: Private Employment increased 154,000 in September – Bill McBride
U.S. private sector adds 154,000 jobs in September: ADP – Reuters
Service Firms in U.S. Rebound to Best Expansion in 11 Months – BB
September Services PMI – Markit

El-Erian: Markets Struggle to Price In Year-End UncertaintiesView / BB
Political risks, central banks, the economics of protracted low growth

EM FX and the US presidential election Nordea
The outcome is binary: A Trump win is likely to prompt an immediate sell-off of risky assets and, in turn, weakening of EM FX, while the reaction to a Clinton win would be the directly opposite albeit with less erratic market moves.

Japan Economic OutlookNordea
Beating history but missing target

Debating the Supply Side of GrowthBB
Tyler Cowen and Noah Smith met online to debate the merits of government efforts to boost the economy by stimulating demand. Here they follow up that discussion by debating ways to stimulate the economy by making it more productive and efficient. 

World Economic Outlook – IMF
IMF Video: World Economic Outlook Press Briefing – IMF
Transcript of the Press Conference – IMF
Podcast: IMF World Economic Outlook – IMF
Maurice Obstfeld: The World Economy: Moving Sideways – IMF

Danske DailyDanske Bank

ISM non-manufacturing to rebound. Rates back up as oil breaks the August high. GBP move overdone.

Morning MarketsTF
This week already brought surprisingly good Construction and Manufacturing PMIs for the UK and yesterday the IMF followed with lifting the GDP forecast. Today it is time for the Services PMI. And another positive surprise?

Euro wrap-upDaiwa

Daily Market Comment Marc Chandler
Euro Remains Firm Despite Dubious Tapering Story

Daily Market CommentMacro Man
Thanks, ECB

Daily Press SummaryOpen Europe

Brussels PlaybookPolitico
Poland to dump Tusk — UKIP turmoil — Climate hypocrisy

European, EM Stocks Slide On ECB Taper Concerns; US Futures Flat


FX UpdateTF
More December rate hike talk and a sharp rise in US bond yields accompany a firming greenback. After some initial weakness yesterday the euro matched the US dollar’s gains late in the Tuesday session on talk of an ECB QE taper.

From the FloorTF
In a global market characterised by seemingly endless stimulus even the mildest of hawkish remarks from central bankers can prompt significant movements. Just look at the USD...

Punta historiallisen alhaalla * EKP:n Mersch vihjaisi, ettei talletuskoron lisälaskuja ole tulossa * Republikaanien varapresidenttiehdokas Mike Pence esiintyi rauhallisesti yöllisessä vaaliväittelyssä * Italia laski liikkeelle ensimmäisen 50-vuoden velkakirjansa

Raimo Sailas: Mauno Koivisto on mainettaan kevyempi taloustuntijaVerkkouutiset
Valtiovarainministeriön eläköitynyt valtiosihteeri avaa kirjassa suhdettaan entiseen tasavallan presidenttiin.