6th Dec - Quiet, mood still a bit negative

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EUROPE

Europe's Yield Curve May Hold Key to Markets in 2018 – BB

A narrowing gap between short- and long-term rate should provide a boost to risk assets and the economy.

German Social Democrats present their EU wish list – Open Europe
Another 'Grand Coalition' of Social Democrats (SPD) and Conservatives (CDU/CSU) is Germany's last chance for a majority government. The SPD has made clear that its participation would come at a high price

  EUROPEAN CENTRAL BANK

Europe's Central Bank Is Right to Get Tough on Bad Loans – BB

Politicians should support the supervisors' efforts, not oppose them.

Yves Mersch: Challenges for euro area monetary policy in early 2018 – ECB

  EUROZONE PLAN
Wrangling Over Euro Reforms Kicks Off With Juncker Proposals – BB

EU’s executive arm to present proposals for bailout fund * Plans will also look at EU fiscal rules, finance minister

Juncker tries to get ahead of France, Germany on eurozone debate – Politico

The Commission wants to help narrow differences between Paris and Berlin — while preserving its own powers.

Brussels calls for creation of European Monetary Fund – FT

European Commission seeks to overhaul institutions and functions of the eurozone

UNITED STATES

Everyone's Wrong About Impeachment – BB

It's uncharted territory in U.S. history, with little guidance from the Constitution.

  MARKETS / OTHER

El-Erian: The 2018 Outlook for Major Central Banks – BB

The biggest risk to asset prices and the global economy would be if the biggest institutions reduce their monetary stimulus at the same time.

BofA: "The Behavior Of Volatility Changed Entirely In 2014” – ZH

  

How Expensive Are Stocks? – Barry Ritholtz

Chief Economist's Corner: Global recovery continues in 2018 – Nordea

Christmas and New Year are fast approaching and it’s time to look back on the past year and ahead to the next year. In terms of most parameters, 2017 has been a good year.

Australian Growth Misses Estimates as Household Spending Falters – BB

Consumer spending shows weakest increase since end of 2008 * Gross domestic product rises 0.6% from previous quarter

REGULARS

FirstFT Daily Briefing – FT

Trump’s Israel call, Apple’s billion-dollar windfall, Seoul’s drone-bot combat unit

WSJ City – WSJ

Banks Face Trading Pain, US Tax Reform Could Boost Corporate Bonds

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Eye-Opener – Nordea

Norwegian home prices dropped again; negative sentiment; ADP today * US 2y Treasury yields continue higher * Some USD relief

Daily Market Comment – Marc Chandler

Equity Slump Continues, Lifts Bonds, Bolsters Yen

Brussels Playbook – Politico

Eurozone reform plans — Migration deal in sight — Schulz faces the music

US Open – ZH

Asian Market Rout Goes Global On Tech, Tax And Government Shutdown Tremors