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Tuesday, August 29

29th Aug - Deep dip on Korea





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EUROPE
The ECB and the rising euro – ABN AMRO
The German election: What you need to know – Nordea
German Elections: Next euro area election unlikely to rock the boat – Danske Bank
European banks 10 years after the start of the financial crisis – Deutsche Bank


UNITED STATES
Tax Reform and Budget Deficits in America – Project Syndicate


OTHER
Another wave of escalation in North Korean crisis – Danske Bank
Two Overlooked Takeaways from Draghi at Jackson Hole – Marc Chandler
Bank of America; "This Could Get Ugly, We Think" – ZH


REGULARS
Morning Report APACTF
Yet another ballistic missile launch this time over Japan has entered the equation this morning ruffling markets throughout the region. As ever only the JPY and gold advance in such circumstances

FirstFT Daily Briefing FT
NK missile overflies Japan, Brexit gloves come off, Burning Man’s hyper-efficiency

WSJ CityWSJ
North Korea Missile Rattles Markets, No Brexit Breakthrough, Service Sector Sees Profit Squeeze

“Best of the web” daily charts Lukas Daalder

Danske DailyDanske Bank

Eye-OpenerNordea
Renewed low risk appetite on North Korea worries * Another day – still no important data or events * Risk off – lower treasury yields, lower USD/JPY

Morning MarketsTF
Jittery Asian investors sold off shares and flocked to safe havens today after North Korea ratcheted up global tensions by test firing a missile over neighbouring Japan.

From the FloorTF
North Korea escalated fears of a conflict by test launching a missile over Japan, sparking a flight to perceived safe-haven assets and knocking Asian stock markets. Meanwhile, estimates of the damage from tropical storm Harvey, which has caused disastrous flooding in Texas, are climbing as high as $100 billion.

Brussels PlaybookPolitico
EU’s macho time warp bank — Brexit Groundhog Week — North Korea missile test

US PlaybookPolitico

Five Things You Need to Know to Start Your DayBB

10 things you need to know before the opening bellBI

US OpenZH
European Stocks Tumble To 6 Month Lows As Euro Surges Above 1.20; VIX, Havens Surge

FrontrunningZH

FX UpdateTF
In Texas devastation from Hurricane Harvey could force a quicker raising of the debt ceiling. Elsewhere North Korea’s latest missile shenanigans have roiled Asian markets – Trump’s response key in early US hours.


FINNISH
AamukatsausNordea
Hiljainen päivä talousjulkistusten osalta | Euro jatkoi vahvistumistaan | Pohjois-Korean ohjuskoe lisäsi turvasatamakysyntää aamuyöstä