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EUROPE
Jean-Claude
Juncker, the president-elect of the European Commission, wants to mobilize an
additional €100 billion for public and private investment each year for the
next three years. But, at a time when private income has shrunk and public
resources are scarce, plans to stimulate investment should be carefully
scrutinized.
The
‘Poundzone’ is just as sub-optimal a currency area as the Eurozone – Europp
/ LSE
UKRAINE / RUSSIA
The Only
Chart You Will Need To Trade Russian Sanctions – ZH
Russian
Sanctions: Views of Investors and Analysts – WSJ
Russia encounters toughest sanctions ever
– Danske
Bank
Europe Puts Putin in a Corner – BB
EU will
find Russian sanctions worth the pain – Reuters
MACRO NUMBERS
July 2014
euro area bank lending survey – ECB
ECB says
bank lending standards eased for the first time since 2007 – TradingFloor
Euro banks
ease lending standards for all sectors for first time since 2007 – Danske
Bank
ECB Says
Banks Ease Path to Credit for First Time Since 2007 – BB
Great
Graphic: ECB's Bank Lending Survey Results – Marc
to Market
Business
and Consumer Surveys – EC
Economic
confidence inches higher in the euro area – TradingFloor
Euro-Area
Economic Confidence Unexpectedly Rises – BB
German
Inflation Cools as ECB Stimulus Takes Time to Work – BB
UNITED STATES
FEDERAL RESERVE
FX Update:
FOMC monetary policy statement in the crosshairs – TradingFloor
Fed seen
trimming bond buys, could offer vague rate clues – Reuters
Fed
Decision-Day Guide: QE Tapering to Inflation Debate – BB
Dashboards,
Dissent, & "Degree-Of-Accommodation" Differences – ZH
Fed Tapers
Another $10 Billion, Raises Inflation Concerns, Plosser Dissents – ZH
Goldman's
FOMC Post-Mortem: "Slightly Hawkish Tilt" – ZH
Fed sees
continued “underutilization of labor resources” – FT
Fed makes a
hawkish twist - we now see the first hike in April 2015 – Danske
Bank
FOMC
Statement: More Tapering – Calculated
Risk
Fed more
confident in job market but nods to pickup in inflation – WaPo
Redacted
Version of the July 2014 FOMC Statement – Aleph
blog
FOMC
Statement – Tim
Duy’s Fed Watch
Q2 GROSS DOMESTIC PRODUCTION
5 Things to
Watch in Wednesday’s U.S. GDP Report – WSJ
BEA: Real
GDP increased at 4.0% Annualized Rate in Q2 – Calculated
Risk
Revisions
Boost Growth in 2013, But Show Weaker Overall Recovery – WSJ
5 Takeaways
from Wednesday’s GDP Report – WSJ
US GDP
Lifts Dollar and Stocks – Marc
to Market
Q2 GDP
Surges 4%, Beats Estimates – ZH
Market
Jumps on GDP Report, Ponders What It Means for the Fed – WSJ
Economy’s
growth rate surges to 4 percent in second quarter – WaPo
US GDP jumped 4% in Q2, beats
expectations of 3% - TradingFloor
U.S. economy bounces back in second
quarter – Reuters
GDP Sparks
Gold Dump, Stock Pump – ZH
US Q2 un-blips Q1 – FT
One Big
Factor in the Economic Uptick: Government Spending – WSJ
GDP: A Few
Graphs – WSJ
Q2 GDP at
4.0% Soars Above Expectations – dshort
GDP Report
Still Leaves Economy Tilted Toward Tepid – WSJ
Real GDP
Per Capita Rises to 3.31% - dshort
Visualizing
GDP: Dissecting the Q2 Advance Estimate – dshort
Economists
React: Q2 GDP ‘Confirms Expectations for Future Economic Growth’ – WSJ
Second-Quarter
GDP Impresses, But Watch Out for Revisions – WSJ
Chart(s) Of
The Day: A Decade Of GDP Revisions – ZH
Q2 GDP: Investment
Contributions – Calculated
Risk
GDP - Pre/Post
Annual Revisions In Pictures – dshort
EMPLOYMENT
DATA
ADP:
Private Employment increased 218,000 in July – Calculated
Risk
U.S. private sector adds 218,000 jobs in
July: ADP – Reuters
US ADP employment a bit below
expectations – TradingFloor
ASIA
Japanese
Industrial Production Collapses At Fastest Rate Since 2011 Tsunami – ZH
Japan’s Output Drops Most Since 2011 as
Consumers Spend Less – BB
China's local GDP data points to
recovery, rebalancing – Reuters
OTHER
Daily Macro – WSJ
No one is
expecting any policy shifts from the Federal Reserve in today’s statement, but
market complacency is starting to be a worry for central bankers. Bank of England Governor Mark Carney recently tried
to shake things up by warning that rates could start to rise sooner than
investors think. And there are signs the Fed is starting to worry about quite
how far it’s raised market risk appetite. Could it look to ruffle a few
feathers? Elsewhere, Europe remains a confused story. French consumer sentiment remains weak, but Spain is rebounding albeit in a
deflationary environment. And in Asia, the Japanese economy continues to feel the
repercussions of April’s tax rise.
Daily
Central Banks – WSJ
Hilsenrath’s
Take: Investors Whistle Past Middle East and Ukraine Turmoil * Forward
Guidance: What to Watch at This Week’s Fed Meeting * Five Things to Watch in
Wednesday’s U.S. GDP Report * Banks in Euro Zone Ease Credit Standards on
Business Loans * How Much Should China’s Yuan Be Worth? Consider the Big Mac
FINNISH
Saksalaisten tyly arvio: Suomi on eurovaltioiden
häntäpäässä – Reijo
Tossavainen / US
Pystyyn kuollut – miten ammattiyhdistysliikkeen pitäisi
muuttaa toimintatapojaan? – YLE
Ay-liike on byrokraattinen organisaatio, jolla on omat
hierarkiansa ja eliittinsä. Some-ajan ketteryys, johon nuoret ovat tottuneet,
on ay-liikkeelle vierasta. Palkkatyöläiset ovat esimerkiksi it-alalla tai
tekevät työtä robotiikan ja digitalisaation parissa. Kuinka ay-liike on ajanut etujasi?
Muistelua euroon liittymisen ajalta nykyisten vaiheiden
valossa – Tyhmyri
EU:n perussopimus venyy ja paukkuu - kuten Suomenkin
– Sirpa
Abdallah / US
Tilausten kasvu pysähtynyt – tilanne Venäjällä vaikuttaa
jo – Teknologiateollisuus
"Venäjän osuus Suomen viennistä putoaa viiteen
prosenttiin" – TE
AY-liikkeen tulee muuttua tai kuolla (eli syytän) – Saloniemi
Kaikilla tuoleilla ei voi istua yhtä aikaa – Piksu
Myönnettyjen rakennuslupien kuutiomäärä toukokuussa -14% –
Tilastokeskus