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Wednesday, October 24

24th Oct - Bad PMI from Europe




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EUROPE

Editorial: Don’t Let Italy Off the Hook – BB
The euro area needs budget rules, and the European Commission is right to enforce them.

  OCTOBER PMI
Gloomy signals for euro area manufacturing – Pictet

ECB to signal risks tilted to the downside – ABN AMRO

Eurozone: Leaves are falling, so is the PMI – ING
A fall in the PMI in October signals a weakening of Eurozone momentum at the start of the fourth quarter. If the stock market corrects further, it would constitute an additional brake on the Eurozone's growth pace

Eurozone Economic Sentiment Falls to Lowest Level for Two Years – WSJ
Easing of economic growth isn’t yet severe enough to disrupt the ECB’s plans to end its bond-buying program in December

Euro area: Casualties of trade war – Nordea
The Euro-area PMIs provided for unpleasant reading and added downside risks to the Euro-area outlook. The trade war is clearly hurting the Euro area much more than the US. However, the data will not be enough to make the ECB change course for now.


OTHER
Charting China's declines – FT


REGULARS
EU Open Rundown – RANsquawk

Brussels Edition Daily – BB

Brussels Briefing – FT

Eco Day Europe – BB
London's Falling, Trump's Tax Cuts, Indonesian Rates

FirstFT Daily Briefing – FT

WSJ Daily Economics – WSJ

Danske Daily – Danske Bank

Daily Market Comment – Marc Chandler
Disappointing Flash PMI Weighs on Euro

Brussels Playbook – Politico
Fight for Italy’s sole — Germans squirm around EU rules — Home alone with the far right

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

Eco Day US – BB
Chinese Stimulus, Fed Warning, Sino-Japan Rapprochement

US Open – ZH
"Tremendous Wall Of Worry" Sends US Futures Lower As China, Europe Rebound

US Open Rundown – RANsquawk

Aamukatsaus – Nordea
Riksbank kokoustaa tänään, mutta ei vielä nosta korkoaan | Euroopan komissio hylkäsi Italian budjettiesityksen, Italian korot jälleen nousussa | Pörssit laskussa kauttaaltaan, myös öljyn hinta laski reippaasti