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Friday, August 24

24th Aug - No surprises from Powell

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Euro area PMIs: still little good news below the surfacePictet
We see little evidence of a rebound in business taking shape, reinforcing our revised 2018 GDP growth forecast.

WTO Warns U.K. About Global Impact of No-Deal BrexitBB
Azevedo says tariffs ‘unlikely’ to be agreed with all members * Nations likely to seek new trade concessions from the U.K.

Italy's Populists Turn to Trump and ChinaBB
Trump has offered to buy Italian debt, Corriere reported * Italy’s finance minister will go to China to attract investors

The Evidence Is Tipping Toward Impeachment BB
There will come a point when Trump’s unwillingness to uphold the Constitution is so undeniable that Congress would be remiss to not remove him. We’re getting there.

Here Comes Powell But Draghi And Kuroda Strangely Absent From Jackson HoleZH

Powell speaks on a changing economy ING
So what has changed about the economy? What will Powell talk about? For me, the biggest changes in the economy concern the consumption and production of virtual goods, and the flattening of the Philipps curve. Both suggest that central bank policy needs to adapt. But has it? 

Powell’s Homage to Greenspan Hints at a Fed FlashbackBB
At Jackson Hole, the chairman goes retro by quoting a sage who went out of style with the last financial crisis.

Fed chief Powell defends policy of gradual rate hikes Reuters

Fed Chairman Powell Says Gradual Hikes Likely Needed If Economy Stays HealthyBB
Sees good reason to expect ‘strong performance’ to continue * Powell delivers first speech at Jackson Hole as Fed chairman

Editorial: South Africa’s Risky Populist TurnBB
Land seizures are more likely to hurt the economy — and the poorest — than to remedy inequality.

EU Open RundownRANsquawk

FirstFT Daily BriefingFT

Danske DailyDanske Bank

Daily Market CommentMarc Chandler
Greenback Marks Time Ahead of Powell

Brussels PlaybookPolitico
Intrigue at the Berlaymont — Forgetting Franco — New Australian PM

Five Things You Need to Know to Start Your DayBB

Dollar Slides Ahead Of Powell Speech, Stocks Rise After China Market Intervention

US Open RundownRANsquawk

Fedin Jackson Holen konferenssi markkinoiden huomion keskipisteessä tänään | Euroalueen ostopäällikköindeksit hieman odotuksia heikommat, EKP uskoo edelleen inflaation kiihtymiseen | Dollari vahvistui Kiina-tullien myötä tappioputken jälkeen