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EUROPE
Eurozone condemned
to permanent crisis without reforms – The
Telegraph
Single
currency will not become a "United States of Europe" as countries
deal with the scars of the current crisis, former Brussels chief Olli Rehn
warns
Merkel and
Hollande to discuss migrant crisis at Berlin meeting – FT
Greek Election:
Syriza 2.0 vs. What’s Left – BB
UNITED STATES
6 reasons the FOMC is
unlikely to move in September – Sober
Look
The majority of economists still expect the Federal Reserve to begin the
long-awaited liftoff next month.
Lawrence Summers: The
Fed looks set to make a dangerous mistake – FT
Raising rates this year will threaten all of the central bank’s major
objectives
OTHER
FX: QEvent – Nordea
Jackson Hole will ponder inflation, just as the Markets will ponder
implications. FX important in light of recent China action. Fear is not a USD
friend right now.
EURUSD surprise break
higher was on the cards – TF
As EURUSD approaches the top of a seven-month long range, it is good to
review the underlying drivers of the exchange rate and whether a breakout is
near. My guess is that a break higher would be entirely possible, and a big
surprise to the markets.
MARKET TURMOIL
These Currencies Could Be The Next To Tumble In Global FX Wars – ZH
China plunges 8.5% triggering global rout – FT
China’s Stocks Sink Most Since 2007 as State Intervention Fails – BB
Oil slides to 6-year low as commodities tumble – FT
Great fall of China sinks world stocks,
dollar tumbles – Reuters
European Stock Selloff Intensifies as DAX Heads for Bear Market – BB
What Next After Stock Drop? — View From the Street – WSJ
Chinese slowdown everybody knew was coming – WaPo
REGULARS
Morning MoneyBeat Europe – WSJ
Global Stocks Selloff
Continues
Morning MoneyBeat US – WSJ
As Markets Drop, Is 2007
the Next Stop for Dow, S&P?
Danske Daily – Danske
Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Bad day for equities,
which dragged down oil, yields bound to go lower * This week: Euro-area
inflation back to zero? * Bond markets will gain from safe-haven flows as
equities fall * EUR/NOK at yearly high on sliding oil prices
Morning Markets – TF
It's an absolute
bloodbath in equities and commodities after continued concerns over China
fueled risk-off to send the SHCOMP down 9% and lead Asia as well as
commodities-led currencies to devastating plunges.
Daily FX Comment – Marc
Chandler
Market Rout Continues, North
American Leadership Awaited
Daily Shot – TF
The turbulence in markets got even
uglier on Friday, with the S&P 500 out of its trading range, and rampant
risk aversion has stoked expectations that the US Federal Reserve will take a
dovish stance. The VIX volatility index has hit levels not seen since late
2011.
Daily Press Summary – Open
Europe
‘No’ campaign takes
shape and seeks support of up to eight cabinet ministers *
Greek government still
targeting 20 September for election despite delays * Osborne heads to
Scandinavia to help build alliances for EU reform * Belgium calls for review of
Schengen border-free arrangements following failed terror attack * Italian
Foreign Minister: Refugee crisis could put Schengen into question * EU figures
reveal increase in fraud within the EU budget * Podemos distant third in new
Spanish poll * German bank association
warns Capital Markets Union must not come at the expense of banks
Brussels Playbook – Politico
Terror on the Thalys —
Merkel goes underground — Lebanon protests
US Open – ZH
Summarizing The
"Black Monday" Carnage So Far
Frontrunning – ZH
FX Update – TF
The renewed meltdown in
Chinese equities overnight kept the negative momentum in risk appetite running
high after the swan dive in major US indices on Friday. In the major
currencies, this means additional upside pressure in the euro and yen and
weakness in the US dollar, seeing EURUSD and USDJPY confronting critical
levels.
From the Floor – TF
China's 'Black Monday' –
with the Shanghai Composite closing down 8.49% – is creating panic in the
global markets.
FINNISH
Aamukatsaus – Nordea
Suomi
saamassa hyviä uutisia Saksasta - euroalueen ostopäällikköindeksit odotettua
paremmat * Osakeindeksit laskivat jyrkästi perjantaina * Turvasatamakorot
painuivat
Yhteiskuntasopimus kaatui, joten hallitus yrittänee
sisäistä devalvaatiota talouspoliittisin pakkokeinoin. Sopimus tai ei,
odotettavissa on ansiotulojen laskua ja työttömyyttä. Niistä löytyvät euromaan
talousjoustot. Euro ei jousta, joten sinä joustat
Ekonomisti:
"Poliitikoille ei nyt kiitoksia heru" –
TalSa
Poliitikkojen pitäisi OP-ryhmän pääekonomistin Reijo
Heiskasen mielestä nyt laittaa Suomen etu oman uran edelle. Talous näyttää
vastaisuudessakin synkältä ja kipeitäkin muutoksia on tehtävä.