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Friday, October 26

26th Oct - New marginal lows and a bounce


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EUROPE
El-Erian: Why Italy is the Latest to Question Policy Orthodoxy – Project Syndicate
The budget standoff between Italy's anti-establishment government and the European Commission has rattled markets and brought back memories of the eurozone sovereign debt crisis. EU officials should remain open to unconventional economic-policy approaches, and the Italians should show that they are serious about long-term reforms.

The Italian Budget: A Case of Contractionary Fiscal Expansion? – PIIE
Whether the proposed budget would in fact boost Italian output, as the government hopes and counts on. We fear not. In fact, the proposed policies are more likely to achieve the opposite.

Ashoka Mody: Italy’s Budget Isn’t as Crazy as It Seems – BB
EU officials must recognize that the country needs stimulus.


UNITED STATES
  Q3 GDP
U.S. economic growth slows slightly in third quarter; outlook less upbeat – Reuters
US economy continues to chug along, with no slowdown in sight – Pictet
U.S. GDP Grows Above-Forecast 3.5% on Consumers, Inventories – BB


OTHER
"Peak QE": This Is What Share Of The Market Central Banks Now Own – ZH


REGULARS
EU Open Rundown – RANsquawk

Brussels Edition Daily – BB

Brussels Briefing – FT
Polls suggest another torrid outcome for the parties that underpin Merkel’s coalition

Eco Day Europe – BB
Draghi's 7-Week Test, Fed Confidence, Tokyo Inflation

FirstFT Daily Briefing – FT

WSJ Daily Economics – WSJ
The Best Major for College Grads | U.S.-China Impasse | Slower Growth Ahead for the U.S.?

Danske Daily – Danske Bank

Daily Market Comment – Marc Chandler
It is Tough for Investors When the Weekend is the Firebreak

Brussels Playbook – Politico
Happy numbers — British problems — Why they laughed

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

Eco Day US – BB
U.S. GDP, Draghi’s 7-Week Test, China’s Supply Chains: Eco Day

US Open – ZH
"Tech-Wrecked": Global Stocks, US Futures Plunge As Panic Selling Returns

US Open Rundown – RANsquawk

Aamukatsaus – Nordea
Tänään USA:sta saadaan BKT:n kasvuluvut | EKP:n kokouksesta ei saatu merkittäviä uusia uutisia, Norjan ja Turkin keskuspankit pitivät korkonsa ennallaan | Venäjän keskuspankki kokoustaa tänään, luottoluokituslaitos S&P antaa luokituksen Italialle