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Monday, October 30

30th Oct - Manafort arrested, quiet markets

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Wolfgang Munchau: Why an ailing eurozone still requires extreme treatment – FT
Even after a decade-long recovery, the ECB may never be able to halt asset purchases

Martin Feldstein: Europe’s Economic Dilemma – Project Syndicate
The European Central Bank deserves credit for the economic improvements that have occurred in the past few years. But the ECB’s policies also mean that the eurozone has no ammunition left to fight the next recession, because interest rates cannot be reduced further and fiscal policy remains in the hands of national governments.

Editorial: Europe Needs to Face Its Bad-Loan ProblemBB
Banks in the European Union should recognize their losses more quickly

Jean Tirole: The European Project Needs a New Long-Term VisionBB
For the union to work, people must be willing to share risks and cede more sovereignty

Who Feels EU Membership Has Paid Off?Statista

Why Italy's New Electoral Law Doesn't Get Five StarsBB
The rules might keep the populists out, but they guarantee gridlocked government.

Bank of England Preview: Taking back emergency cut from 2016 Danske Bank

Euro zone sentiment keeps surging, unaffected by Catalan crisisReuters

First charges could be unsealed in U.S. special counsel's Russia probe – Reuters
White House Braces for First Actions in Mueller's Russia Probe – BB
How Robert Mueller’s investigation could end – The Economist
Manafort Faces U.S. Tax Charges – BB
Manafort Indictment Is the Start of a Complicated Story – BB
Trump To Make Fed Chair Announcement On Thursday: Politico – ZH

A Missing Piece of the Global Growth Jigsaw Starts to Fall Into Place BB
Robust world economy is spurring factories to ramp up spending * Economists say faster investment could lift wages, inflation

Amazon Isn't the Only Big Winner This Earnings CycleBB
With half of S&P 500 results in, profits and sales surge * Hurricanes fail to dent growth as China, U.S. economies surge

FX weekly: Was that it for the EUR bulls?Nordea
EUR/USD had some catching down to do versus after the ECB meeting, but could there be more on the cards? We also show why the housing market is worth tracking for SEK, GBP, NOK and CAD.

Macro Monday: Here comes the dollar squeezeTF
China's president Xi Jinping consolidated his power at the 19th Party Congress * Draghi came across a lot more cautious and dovish than markets expected * There's plenty of economic data due out this week in the US, and Europe * The Bank of England, the Fed and the Bank of Japan are in focus this week * Watch for a tactical squeeze in USD before end of November

IMF: rising debt, political risk dim sub-Saharan Africa's economic outlookReuters

Big Tech and Amazon: too powerful to break up?FT
While Google, Facebook and Twitter are set for a grilling in Congress over Russia, it is the online retailer that is drawing intense scrutiny

FirstFT Daily BriefingFT
Spain’s authority tested, first charges in Trump-Russia probe, Obama on jury duty

Tough U.K. Budget Calls, HSBC Swings to Profit, Investors Buying Every Dip

“Best of the web” daily chartsLukas Daalder

Danske DailyDanske Bank

Dollar dented by Powell, Chinese deleveraging concerns, Catalans awaited * FOMC meeting likely a yawner, Bank of England more interesting * Powell announcement could prompt a further dollar dip * Will Catalan leaders try to go to work today?

Morning MarketsTF
Asian markets were mixed Monday with the exception of mainland China where equities tumbled as 10-year bond yields shot to a three-year high.

Daily Market CommentMarc Chandler
A Few Thoughts about Currencies and Equities

Brussels PlaybookPolitico
5 summits in 7 weeks — Harassment engulfs Westminster — Spain fights back

Five Things You Need to Know to Start Your DayBB

S&P Futures Slide After Chinese Stock And Bond Rout; Spain Rebounds, Dollar Drops


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