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Thursday, March 8

8th Mar - ECB tightens guidance, Trump brings tariffs





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EUROPE
Berlusconi Backs Leader Of Euroskeptic Party To Form Italy's Next Government – ZH


  EUROPEAN CENTRAL BANK
Draghi Set To "Avoid Any Sudden Moves" But Watch Forward Guidance – ZH
Guidance on quantitative easing programme in the spotlight – FT

Monetary policy decisions –
ECB
Introductory statement to the press conference – ECB

ECB Unexpectedly Dials Back Stimulus Pledge as Economy Improves –
BB
ECB drops easing bias, taking baby step toward stimulus exit – Reuters
Draghi Says Euro-Area Turnaround Warrants Policy Dial-Back – BB
ECB dropped easing bias, watered down signifigance of the change – Nordea
ECB To Phase Out QE - €10Bn Monthly Purchases By End Of 2018: Report – ZH
QE bias dropped, but normalisation will still be slow – ABN AMRO
ECB begins to rotate forward guidance – Pictet

EURUSD, Bund Yields Spike After ECB Drops Pledge To Increase QE If Needed – ZH
EURUSD Gives Up Draghi Gains On Lower Growth, Inflation Foreecasts – ZH


UNITED STATES
El-Erian: Why These U.S. Jobs Numbers Will Be More Revealing – BB
5 Things to Watch in the February Jobs Report – WSJ

Stocks Give Up Gains As Trump Confirms Tariffs, No Carve-Outs – ZH


MARKETS / OTHER
Steven Englander: The BOJ Should Focus on Equities and Banks, Not Inflation – BB
The central bank's policies have forced Japanese investors out of bonds and into stocks, which are now tanking.

The 2016 Sterling Flash Episode – Bank of England’s blog

Geopolitical and political risks – Pictet
Alongside our core scenario for this year, we have a downside one which includes political and geopolitical developments that could contribute to increased market volatility in the months ahead.


REGULARS
FirstFT Daily Briefing – FT
Nerve agent used in UK attack, International Women’s Day, print versus digital

WSJ City – WSJ
Tariffs to Spare Canada and Mexico, What to Watch at the ECB

WSJ Economics – WSJ
Trump Readies Tariffs | U.S. Trade Gap Widens | Who Will Replace Gary Cohn?

“Best of the web” daily charts – Lukas Daalder

Danske Daily – Danske Bank

Daily Market Comment – Marc Chandler
Euro Slips Ahead of the ECB Meeting

Brussels Playbook – Politico
Equality — God — Selmayr — Trump

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

US Open – ZH
Global Stocks, Futures Rise Ahead Of ECB As Trade War Tensions Ease


FINNISH
Aamukatsaus – Nordea
EKP:n kokous on päivän kohokohta, mutta emme odota1 suuria muutoksia | Kanadan keskuspankki piti rahapolitiikkaansa ennallaan | Markkinoilla oli rauhallista

Aamukatsaus – Danske Bank

Taantuman välitilinpäätös 2: nollakasvun lähteillä – Sakari Heikkinen