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Tuesday, October 10

10th Oct - Catalan "V"-day in markets

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Wolfgang Schäuble remains blind to his policy failures
The outgoing German finance minister continues to promote bad ideas, writes Alan Beattie

Schaeuble Leaves, But His Ideas Are Here to StayBB
Schäuble’s recommendations for the euro zone reveal the limits of fiscal integration.

Schäuble’s “Non-paper for paving the way towards a Stability UnionCorriere

Catalans' Day of Reckoning as Parliament Weighs Independence – BB
Catalan Separatists Face Their Moment of Truth – BB
Spain Readies Forces Able to Seize Catalan Leader Today – BB
Five Charts Show Spanish Stock Pain Ahead of Key Catalan Speech – BB

Catalonia nears possible independence proclamation despite Madrid's warnings – Reuters

EU parliament head raps Draghi over bad loan guidelinesReuters
France hardens stance against higher bank capital requirementsFT
Demand for ECB money spikes in tense week for Spain's future – Reuters
ECB QE scenarios – ABN AMRO

Fed Minutes May Underline Depth of Backing for December Hike – BB
New Fed Chair—Change or Continuity? – Pictet

IMF Sounds Caution on U.S. Tax Reform: Don't Raise the Deficit – BB
Trump Says He’ll Adjust His Tax Plan in the Next Few Weeks – BB

Last Bastion for Stock Bulls is Fading FastBB
Record-high stock prices and a subpar earnings season to collide * Bond yields close to bear trendline * Turkish lira scares yield compressors * OPEC’s bark has lost its bite

Growth Trend Is No Longer a Friend to Bond-Market InvestorsBB
BofAML sees risk of rise in global term premiums, yields * Bonds are finally set to catch up with rising global growth

Shiller’s Ratio Flunks at Predicting Stock PerformanceBB
Equities are still the place to invest, assuming investors can handle the greater volatility compared with bonds.

Morning Report APACTF
Asian markets were up in early trade with South Korean stocks rising on increased optimism about upcoming earnings announcements.

FirstFT Daily BriefingFT
Climate change rollback, wine country wildfires, Russia revelations dog Facebook

Rising Prices Boost U.K. Retail Sales, False Prophet of Long-Term Investing

“Best of the web” daily chartsLukas Daalder

Danske DailyDanske Bank

CPI prints in focus in Norway * German manufacturing in good shape * Broad yield declines and low volatility * GBP rebounds on May’s hint of potential cabinet reshuffle

Morning MarketsTF
The US dollar is broadly (if mildly) lower this Tuesday morning in the wake of the Columbus Day holiday as investors seek direction in what is a data-starved week.

Daily Market Comment Marc Chandler
Dollar Pullback Extended

Brussels PlaybookPolitico
Goodbye Wolfgang — Catalan countdown — Soros and ‘Satan’

Five Things You Need to Know to Start Your DayBB

US Open ZH
European Stocks On Edge Ahead Of Catalan Independence Call, S&P Futures Rise


Vienti vetää, kuinka kasvaa tuotanto? * Tänään saadaan Suomesta teollisuuden uudet tilaukset ja teollisuustuotanto * Tulossa inflaatiolukuja Norjasta ja Tanskasta * Saksan teollisuustuotannon kasvu oli vahvaa elokuussa