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EUROPE
The
fatal flaw that could doom the European project – FT
The BOE’s
Understandable Split
– WSJ
The
questions confronting the BOE are: how much labor market slack remains, and how
quickly will wages start to move higher as that slack is absorbed?
Russia
Central Bank Responds To Domestic Dollar Shortage, Starts Currency Swaps – ZH
SCOTLAND
United Kingdom – To Be Or Not To Be? – Alpha Now
Catalonia could follow Scotland in using its independence movement
as leverage to win more devolved powers – Europp
/ LSE
The
political appeal of currency union and disunion – The
Economist
EUROPEAN CENTRAL BANK
Liquidity
supply and demand in the €-area: a schematic approach – Money
Matters
5 Questions
About the ECB’s New Bank Lending Program – WSJ
MACRO
NUMBERS
Euro area
annual inflation stable at 0.4% - Eurostat
UNITED STATES
FOMC BEFORE
The big day
arrives – Macro Man
FOMC AFTER
FOMC
Statement – FED
FOMC
Projections – FED
Policy
Normalization Principles and Plans – FED
FOMC
statement comments – FT
Yellen
Speaks Softly, Market Overreacts – Marc
to Market
Two
Dissents from Hawks on Fed’s Forward Guidance – WSJ
5 Takeaways
From the Fed September Meeting – WSJ
Wall Street
Reacts to Fed: ‘Dovish’ Developments – WSJ
Macro Live,
Fed presser edition – FT
The "Dots"
Chart - Then And Now – ZH
VIX Slammed
Under 12, S&P To Record Highs As Yellen Starts To Speak – ZH
Stocks Give
Up Post-FOMC Gains; Dollar, Bond Yields Surge – ZH
Recap 2014-09-17
– Global
Macro Trading
Maths and
the FOMC – FT
Fed keeps
forward guidance but revises projections higher – Danske
Bank
Federal
Reserve details new exit strategy, keeps record-low rate – WaPo
Fed Revises
Plans on How it Will Raise Rates – WSJ
Goldman's
Yellen Press Conference Post-Mortem: "Few Surprises" – ZH
Fed rate
hikes may come sooner than expected – Reuters
Fed to Keep
Rates Near Zero for ‘Considerable Time,’ BB
Fed
Shouldn't Curb Its Ambition – View
/ BB
MACRO NUMBERS
NAHB:
Builder Confidence increased to 59 in September, Highest since 2005 – Calculated
Risk
US housing
market hits level not seen since 2005 – TradingFloor
Homebuilder
Sentiment Soars To 9 Year High (Mortgage Apps 14-Year Low) – ZH
Home
Builder Confidence Spikes Higher – Bespoke
New Sign of
Weak Inflation Gives Fed More Room to Maneuver – WSJ
Bond Yields
Slide As Core CPI Weakest In Over 4 Years – ZH
Inflation?
Not in August, Thanks to the Drop in Gasoline Prices – dshort
U.S. Household Incomes: A 46-Year
Perspective – dshort
ASIA
China - PBOC's liquidity injection shows
easing bias but also reluctance to ease – Danske
Bank
Economists
React: PBOC Injection Fails to Impress – WSJ
OTHER
Daily
Central Banks – WSJ
Da Costa’ Take:
Fed Likely to Still See Jobs Slack as “Significant” * Hilsenrath Analysis: The
Case for the Fed to Tweak but Keep “Considerable” Period For Now * Five Things
to Watch Out of the Fed Meeting * China’s Central Bank Injects $81 Billion
Into Top Banks to Counter Slowdown * BOE Dissenters Fail to Attract Support
Daily
Macro – WSJ
As
investors await an announcement from the Federal Open Market Committee at the
conclusion of its two-day meeting later Wednesday, they are mulling another
reminder of the divergence in the global economic policy cycles.
Stocks
and Bonds Advance Ahead of FOMC – Marc
to Market
Uh-oh,
the credit rating agencies are up to their old tricks again – WaPo
Emerging
Markets Briefer: September 2014 – Danske
Bank
FINNISH
"Byrokraatteja kiinnostaa oman edun
maksimointi" – Verkkouutiset
Professori Matti Wiberg patistaa kyseenalaistamaan
julkisesta sektorista saatavat hyödyt.
Timo Soini ja ero eurosta – Soininvaara
"Edellisen kerran tuotanto laski yhtenä vuotena. Nyt
on jo kuusi peräkkäistä vuotta" – Verkkouutiset