18th Dec - Big Green

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EUROPE

Leonid Bershidsky: Why Austria's Anti-Immigrant Experiment Is Worth Watching – BB

The new ruling coalition has set out draconian immigration controls that every populist party dreams of implementing.

UNITED STATES

Goldman Explains What's In The Final Republican Tax Bill – ZH

Trump Says U.S. Economy to ‘Rock’ as GOP Races to Tax-Cut Finish – BB

President says 4, 5, 6 pct growth possible from sweeping bill * Votes planned that would send measure for signature in days

  MARKETS / OTHER

This Was the Kind of Week Morgan Stanley Sees Going Away in 2018 – BB

Morgan Stanley, AllianceBernstein expect a VIX pick-up in 2018 * S&P has gone 68 sessions without rising or falling 1 percent

SocGen: "Every Bit Of Good News - Including Tax Reform - Is Now Priced In" – ZH

Goldman Sachs: 2017 In 100 Charts – ZH

Ben Carlson: Yield Curve Inversions and Stocks Are a Toxic Mix – BB

Every time since the mid-1970s that long rates have fallen below short rates, the S&P 500 has experienced a double-digit drawdown.

What To Expect From Equities In 2018 – The Fat Pitch

US stocks will likely rise in 2018. By how much is anybody's guess: the standard deviation of annual returns is too wide to get even close to a correct estimate on a consistent basis. Earnings growth implies 6% price appreciation, but tax cuts could boost that to 13%.  Investor psychology could push returns much higher (or lower).

The Year in Review: Global Economy in 5 Charts – IMF

REGULARS

FirstFT Daily Briefing – FT

Brexit trade talks, Chile swings right, 2017’s best statistics

WSJ City – WSJ

GOP Tax Overhaul Would Set Up Years of Challenges, Bitcoin Futures Fall in First Day on CME

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Eye-Opener – Nordea

Republicans confident in passing tax bill * Week ahead: Riksbank, US tax reform, Catalonian and Chinese politics * Equity markets ebullient * Not all is doom and gloom for the Scandi currencies

Daily Market Comment – Marc Chandler

Trade Tensions with China Set to Escalate

Brussels Playbook – Politico

FPÖ come to power — Mexico trade deal — Brexit Cabinet meeting

US Open – ZH

Global Stocks Roar To Record Highs As Tax Reform Is "Priced In" All Over Again

Frontrunning – ZH

FINNISH

Aamukatsaus – Nordea

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