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Monday, October 22

22nd Oct - European fears at local maxima?





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EUROPE
Italy Responds To EU, Admits Deficit Breach But Refuses To Budge – ZH
Italy tells EU it will not change budget plan – FT
Italy Seeks Dialogue on ‘Necessary’ Breach of Deficit Rules – BB

Editorial: Europe’s Banks Aren’t Ready for the Next Crisis – BB
Trouble in Greece and Italy shows how much remains to be done.

Wolfgang Münchau: Germany’s political centre cannot hold – FT
Other EU countries are also seeing support leaking away from established parties

ECB Preview: vigorous Draghi, moderate inflation – Danske Bank
Since the last meeting, data releases have been on the mark or surprised to the downside. Sentiment indicators have shown signs of stabilising in recent months, but the picture remains mixed and it is too early to declare that we have reached the trough yet. Core inflation surprised on the downside at 0.9% in September. Despite little new information on wages, the ECB's wage assessment will be very interesting due to Draghi's relatively hawkish comment at the EP hearing.


OTHER
Our October guide to global central banks – ING

US-China relations – Pictet
Politics creates a fertile ground for trade tensions


REGULARS
EU Open Rundown – RANsquawk

Brussels Edition Daily – BB

Brussels Briefing – FT
Finding a way out of Sweden’s deadlock - six weeks after election there is little indication of an imminent breakthrough

Eco Day Europe – BB
Sweden's Signal, China's Bond Burst, Creeping Inflation

FirstFT Daily Briefing – FT

WSJ Daily Economics – WSJ
U.S., Europe Look For a Fast Start In Trade Talks

Danske Daily – Danske Bank

Daily Market Comment – Marc Chandler
Collective Sigh of Relief?

Brussels Playbook – Politico
Legaland — Will law rule in Poland? — When a Rolex is a liability

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

US Open – ZH
US Futures Rise After Chinese Stocks Soar; Italian Bonds Boosted By Moody's

US Open Rundown – RANsquawk

Aamukatsaus – Nordea
Tällä viikolla useat keskuspankit kokoustavat pitkin viikkoa | Lisäksi viikolla julkaistaan euroalueen ostopäällikköindeksit, Suomesta saadaan työmarkkinalukuja | Tänään tulossa hiljainen päivä tilastojulkistusten osalta