13th Dec - Fed hikes, Trump promises tax cuts, Brexit snafu

Follow ‘MoreLiver’ on Twitter

EUROPE

May Suffers Humiliating Loss on Brexit Law as Tories Rebel – BB

MPs back Dominic Grieve’s call for vote on final Brexit deal * Vote of 309-305 after last-minute attempt at concession

Commission attacks Tusk on 'anti-European' migrant plan – euobserver

The European Commission has described as "unacceptable" plans by Donald Tusk, the European Council president, to scrap mandatory quotas on relocating asylum seekers across the EU.

Economic globalization: Patterns in EU trade and investment – Eurostat

Italian Bonds, Stocks Tumble On March Election Report – ZH

According to local press, President Sergio Mattarella will dissolve parliament this month and set a March 4 election date.

  EUROPEAN CENTRAL BANK

Economic Reality Will Box Mario Draghi Into a Corner – BB

Draghi has to maintain the unity of the governing council; with a quarter of his team already voicing doubts, it's only a question of limited time before economic reality boxes the ECB into following its peers and changing course away from ever-expanding stimulus.

Outlier Economists See ECB Raising Rates as Early as Next Year – BB

Banks including Barclays and Nomura see inflation picking up * Most economists don’t see rate hikes until well into 2019

UNITED STATES

Trump Promises ‘Giant Tax Cut’ and Money in Pockets by February – BB

Illustrates benefits using real-life families at White House * Rate for high-income filers is said lowered to 37 percent

Trump Brings Out the Worst in the Press – BB

The way reporters are responding to a dishonest White House is not enhancing their credibility.

  FEDERAL RESERVE

With rate hike in the bag, Fed may hint at Trump effect on economy – Reuters

Fed 2018 Dots in Focus for Yellen Swan Song: Decision Day Guide – BB

Yellen’s Goodbye – Kevin Muir

FOMC statement – FED

Economic projections – FED

Economists React: ‘We Wish Jay Powell the Best of Luck’ – WSJ

Fed Stays on Track for Three Increases in 2018, Dot Plot Shows – WSJ

Fed lifts interest rates, keeps 2018 policy outlook unchanged – Reuters

Fed Raises Rates, Eyes Three 2018 Hikes as Yellen Era Nears End – BB
Rate hike, but no change in forward guidance – Nordea

Broadly unchanged Fed signal – Danske Bank

  MARKETS / OTHER

U.S., EU, Japan slam market distortion in swipe at China – Reuters

US, EU and Japan vowed on Tuesday to work together to fight market-distorting trade practices and policies that have fueled excess production capacity, naming several key features of China’s economic system.

Propping Up the Chinese Economy: Credit versus Fiscal Stimulus – IMF

Best of 2017: Top Stories for Investors – CFA Institute

Leonid Bershidsky: Losing Faith in Free Speech Has Consequences – BB

U.S.-tied outlets are facing pressure in Eastern Europe as Washington wages war on foreign influence.

REGULARS

FirstFT Daily Briefing – FT

Alabama rejects Moore, Fox-Disney deal close, no ‘Bregrets’

WSJ City – WSJ

Alabama Loss Leaves Trump’s Agenda Vulnerable, Faster Fed Could Rattle Markets

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Eye-Opener – Nordea

Fed to hike rates again today, but what about 2018? * Slightly higher yields ahead of the Fed meeting * Swedish krona regains the ground after higher-than-expected inflation

Daily Market Comment – Marc Chandler

Greenback Quiet Ahead of Five Central Bank Meetings

Brussels Playbook – Politico

Migration brawl — Juncker and the judge — Roma need more than open doors

Five Things You Need to Know to Start Your Day – BB

US Open – ZH

Stocks Rebound From "Bama Shock", All Eyes On Yellen's Last Rate Hike

Frontrunning – ZH

FINNISH

Aamukatsaus – Nordea

Fed nostaa korkoa tämän päivän kokouksessaan | USA:n inflaatioluvut saadaan tänään | Ruotsin inflaatio oli odotettua kovempi