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Thursday, November 17

17th Nov - Yellen's testimony boring

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‘Monster’ at the Berlaymont Politico
Martin Selmayr is admired, despised and feared. What’s clear: He’s the most powerful EU chief of staff ever.

Martin Schulz wants to be Germany’s next chancellor: reportPolitico

European populists unlikely to replicate Trump winPictet

Editorial: Obama's Sound Advice for the European UnionBB

El-Erian: A Primer on the Dollar's SurgeView / BB

Editorial: Trump the Tax Reformer – View / BB
The Sunny Side of Trump – BB
Editorial: A Financial Reform Plan for Trump – BB
How Republicans Plan to Spend Like Crazy Without Running Up Debt – BB
Hedge Funds That Backed Trump Enter Washington, Demands in Hand – BB

Yellen’s Testimony – FED
Yellen Warns Of Excessive Risk-Taking Hike "Appropriate Soon" – ZH
Yellen Says Interest Rate Hike Could Come ‘Relatively Soon’ – Reuters
Treasuries Decline After Yellen Testimony; Crude Oil Advances – BB
Yellen Signals Fed Won’t Be Cowed After Trump’s Election Victory – BB
Housing starts surge to nine-year high in October – Reuters
Housing Starts Soar By Most Since 1982 To Nine Year Highs – ZH
Jobless claims hit 43-year low as labor market tightens – Reuters
Consumer prices post largest gain in six months – Reuters
Core CPI Remains Above Fed Mandated 2% For 12th Month – ZH
Key Measures Show Inflation close to 2% in October – Bill McBride

Goldman Sachs Maps Out Its Top Ten Market Themes for 2017BB

Barry Eichengreen: Globalization’s Last GaspProject Syndicate
Determining causality in economics may be elusive, but in the case of world trade it is clear: slower growth is the result of slower global GDP growth, not the other way around. And slower growth in international flows of financial capital may be just what the global economy needs.

Danske DailyDanske Bank

Yellen takes centre stage * US CPI inflation on track to accelerate to 2% by year-end? * Renewed peripheral selling pressure * USD strengthens as a December Fed hike probability close to 100%

Morning MarketsTF
The Dollar Index may have retreated slightly overnight but the ground beneath China's renminbi continues to slide forcing it ever lower. Janet Yellen speaks today which should help crystallize rate-hike intentions for December and perhaps offer some insight as to how she is 'looking forward' to working with Donald Trump.

Euro wrap-upDaiwa

Daily Market Comment Marc Chandler
Consolidation Gives Dollar Heavier Tone

Daily Market CommentMacro Man
A Trump tantrum....or a China one?

Daily Press SummaryOpen Europe

Brussels PlaybookPolitico

Five Things You Need to Know to Start Your DayBB
Bank of Japan offer * Yellen testimony * Commodity boom to cool * Markets flat * U.K. retail sales surprise

US Open ZH
BOJ "Fires Warning At Bond Market" Sending Global Yields, Dollar Lower; All Eyes On Yellen


FX UpdateTF
The big moves in FX in recent days have yielded to a bit more two-way action here as EURUSD gyrates around 1.0700 and USDJPY bobs near 109.00 after a Bank of Japan shot across the bow on bond yields.

Vahvistaako Yellenin puhe koronnoston? * Euroalueelta saadaan lokakuun inflaatioluvut * Ison-Britannian työttömyys laski alimmilleen 11 vuoteen * Öljyn hinta pysyy volatiilina OPEC:n loppukuun kokoukseen asti