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Monday, October 2

2nd Oct - Continuation of quarter-end euphoria

The inability to easily buy a hedge is precisely why it stands a much better chance of being the real risk you should be worried about.

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Riksbank: Ingves 4ever  - Nordea
Austrian elections: All good things come in fours – ING
BOE to exit emergency mode, but series of rate hikes unlikely – ING

Catalonia’s Dark Days Ahead – Wolf Street
Catalans Signal They May Declare Independence Within a Week – BB
Spain Can Blame Only Itself for Catalonia's Resistance – BB
Spanish Yields Spike As EU Washes Its Hands Of Catalonia – ZH
Catalan leader calls for international mediation in Madrid stand-off – Reuters
EU urges Spain to talk to Catalans, condemns violence – Reuters
Spain Vows to Double Down on Catalonia Opposition – BB
Spain: How to lose an election without even running – Nordea

Parsing the ECB’s next move – BlackRock
ECB Wants to Weed Out Smaller Banks to Cut Competition – Wolf Street
Acceleration in Euro-area core inflation took a pause – Nordea
Subdued euro inflation requires great ECB balancing act – ING

Strong wages more important than hurricane depressed jobs data –
Fed Knows It's Too Risky to Curb Market Bubbles by Hiking Rates – BB
Fed Poised To Downplay Weak Data – Tim Duy
The Fed is going to make interest rate risk great again (sort of) – FT
Fed Eyes Rates as Asset-Price Tool in Break With Hands-Off Past – BB

Trump interviews four for Fed chair job, to decide in two-three weeks – Reuters
Trump Talks to Cohn, Yellen, Warsh and Powell for Fed Chair – BB
Trump Ramps Up Fed Chair Search With Decision Due Within Weeks – BB

Trump’s tax battle still has a long way to go –
Cohn Says Repatriation Tax Rate Will Be in ‘10-Percent Range’ – BB
Trump Plan Aims New Foreign Tax at Multinational Companes – BB
Three Important Points About the Republican Tax Plan – BB

The Kindest Quarter Arrives for a Stock Market That Nothing Can Rattle –
Eric Peters On Tipping Points – ZH
Deutsche Bank’s Kocic explains a market in which "shocks no longer shock" – ZH
Hedge funds are 'dancing on the rim of a volcano' – BI
Buy the breakout? – Cam Hui
Emerging Markets Briefer: At a crossroads – mind the risks – Danske Bank
Dalio’s Holy Grail of Investing – Macro Ops
Can markets withstand the removal of QE? – Deutsche Bank
What If High Stock Values Revert to Normal Levels? – BB

Macro Monday: RBA meets Nonfarm payrolls and final PMIs – TF
China: Mixed PMI - moderate slowdown ahead – Danske Bank
Japanese Election Update – Marc Chandler

The Massive Hedge Fund Betting on AI
Initially wary of the technology, Man Group was soon persuaded by the returns from algorithm-centric funds.

The Coming Software ApocalypseThe Atlantic
A small group of programmers wants to change how we code—before catastrophe strikes.

3D printing could cut world trade by a quarter in little over forty yearsING

How to Play the Electric Car HysteriaBB
Buying firms that supply the auto industry could be a good way to get in on the action.

Noah Smith: Debt Keeps Rising and Nothing Bad HappensBB

Morning Report APACTF
While a number of markets were closed in Asia the ASX and Nikkei were up in early trade. Meanwhile Japan’s big manufacturers showed they were the most confident about the business outlook in a decade in the September quarter.

FirstFT Daily BriefingFT
Spain in turmoil, murder in Las Vegas, America’s trickle-down illusion

Catalonia Vote Pressures Euro and Spanish Stocks, Monarch Airlines Goes Bust

“Best of the web” daily chartsLukas Daalder

Danske DailyDanske Bank

Catalan uncertainty, strong Japanese data, another term for Ingves * PMIs and US employment report ahead * Political tension likely to put upward pressure on Spanish yields * NOK and SEK weaker on disappointing numbers

Morning MarketsTF
Catalan voters defied heavy-handed Spanish pushback to cast over two million ballots which the regional government claims support independence by more than a 9-to-1 margin. The result is weighing on the euro this morning as Madrid measures its response to this existential threat

Daily Market CommentMarc Chandler
Dollar Upbeat to Start Fourth Quarter

Brussels PlaybookPolitico
Crisis in Catalonia — German coalition talks latest — May’s maximum danger moment

Five Things You Need to Know to Start Your DayBB

Spanish Stocks, Bonds, Euro Sink After Catalan Referendum Fiasco; S&P Futures Rise

Frontrunning ZH

Joko palkat nousevat? - tällä viikolla päähuomio USA:n työmarkkinaraportissa * Tänään saadaan USA:n teollisuuden luottamusindeksi * Katalonian kansanäänestys painaa euroa

Jan Hurri: Kuka keikuttaa eniten: nationalistit, populistit vai ”Euroopan” yhdistäjät?IS
Euroalueen talousmyräkkä on jo hellittänyt, mutta EU:n poliittiset riskit ovat yhä suuria. Venettä keikuttavat eri maissa kapinoivat nationalistit ja populistit – mutta ehkä vielä enemmän ”Eurooppaa” yhdistävät haaveilijat, Taloussanomien erikoistoimittaja Jan Hurri kirjoittaa.