EUROPE
Two European elections –
in Germany on 24 September 2017 and Italy on 4 March 2018 – warn that the
peoples of Europe are drifting apart. Much of the recent deepening of these
divisions can be traced to Europe’s single currency, the euro. This column
argues that the political divide in Europe may now be hard to roll back absent
a shift in focus to national priorities that pay urgent attention to the needs
of those being left behind.
The euro crisis had a
negative effect in some member states that lasts to this day, with potential
economic output in a structural decline
What Does Europe Care About? Watch Where It Spends – BB
The European Union says
it wants to focus on new priorities. First it will have to cut spending in
sectors that have long enjoyed support.
Germany Rules Out Economic Shift Amid Pressure From Trump – WSJ
Germany Rules Out Economic Shift Amid Pressure From Trump – WSJ
In an interview,
Germany’s new finance minister says the government won’t consider large income
and corporate tax cuts
UNITED STATES
It's not just the
current president. A new study shows how his predecessors turned protectionism
into political profit.
US Chart of the week – Statistical issues – Pictet
Weak US Q1 GDP growth
revives debate about seasonality issues, as solid macroeconomic signals suggest
that growth will rebound sharply.
As shutdown looms, Congress crafts massive funding bill – Reuters
Congressional leaders
laboring to complete the bill face a midnight Friday deadline to avoid a
government shutdown.
FEDERAL RESERVE
Steven Englander: The Right Questions to Ask at Fed Press Conferences – BB
FEDERAL RESERVE
Steven Englander: The Right Questions to Ask at Fed Press Conferences – BB
The best queries are
framed in terms of how monetary policy will respond to different shocks.
Fed preview: First of four – ING
Jay Powell's first FOMC meeting as chairman will end with a rate hike, but the accompanying statement's tone and forecast update will be key for markets
Split FOMC continues to
see three rate increases in 2018 * Policy makers boost economic growth
forecasts for 2018, 2019
Raises By 25bps, Signals 2 More Hikes In 2018 But Raises Rate Trajectory For 2019 - ZH
MARKETS / OTHER
Timing the consensus fade – Kevin Muir
Indexing consensus trades and measuring realized volatility. As volatility increases, so does the probability of liquidations?
FINANCIAL STRESS
Morgan Stanley:
"Soaring Libor Is The Story Of The Year, Not The Fed" – ZH
FACEBOOK
That response to technology can lead to overreaction and bad regulation.
All privacy problems are product problems, and the company has a ton of
those.
The sector plays a bigger role in the economy than it did in the dot-com
days, but now the crowded trade has to make room for politics.
Factors from populism to regulation converge in backlash * Fallout could
sweep beyond confines of equity markets
Zuckerberg Issues
Statement: "We Made Mistakes" – ZH
Leonid Bershidsky: Mark Zuckerberg Has No Way Out of Facebook's Quagmire – BB
There's simply no way to fix the fake news and data abuse problems
without destroying the social network's business model.
REGULARS
Facebook faces probe, Kalanick’s new job, economics fail
Facebook’s Lax Data Policies, U.S. to Ramp Up Curbs on China, Sentiment
Still Dim on Brexit
Trump Targets China | Fed Likely to Raise Rates | G-20 Splits on Trade
Bullmann victorious — Digital tax day — Pushy Germans
Global Markets On Edge, Dollar Slides Ahead Of FOMC Amid Ongoing Facebook
Rout
FINNISH
Fed kokoustaa ja nostaa korkoa tänään | Suomen
työmarkkinaluvut olivat vahvoja | Ison-Britannian inflaatio oli hieman
odotuksia heikompaa