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EUROPE
Without changing
treaties, EU tightens economic screws – Politico
Europe pushes on with
bank bailout scheme – FT
The End of German
Hegemony. Really? – Francesco
Saraceno
The case against
Luxembourg – FT
Juncker helped transform the Grand Duchy of Luxembourg into something of
a rogue state that allegedly helps the ultra-rich steal trillions of euros from
law-abiding taxpayers across the rich world.
BANK OF ENGLAND ON BREXIT
Carney: EU, monetary and financial stability, and BoE – BOE
BoE says EU makes UK economy more dynamic – BBC
BoE wades (tentatively) into EU referendum campaign – Open
Europe
BoE chief: Brexit harms Britain – Politico
Cameron will be pleased to have BoE’s Carney’s support – FT
Carney keeps it rational with EU speech – FT
Carney backs Britain’s EU membership – FT
EUROPEAN CENTRAL BANK
Euro area: banking on stronger credit flows to boost investment – Pictet
What to Expect From Tomorrow's ECB Meeting – BB
Stimulus or Not, ECB Meeting Likely to Restrain Euro – BB
UNITED STATES
U.S. debt limit
wrangling could cause 'accident': Treasury's Lew – Reuters
OTHER
Yield Forecast Update – Danske
Bank
Central banks set the direction in 2016
REGULARS
U.S. Stocks Stall as IBM Knocked
Back
European Stocks Follow China Lower
Morning MoneyBeat US – WSJ
Wall Street Bulls Have This Data on
Their Side
Robust ECB bank lending survey leads
to some scaling back of QE hopes…report was more mixed than headlines suggest,
and further ECB stimulus still looks likely * No hints from Fed officials on
rate hike, while markets remain unconvinced of rate hike this year
Euro rates update – Nordea
Quiet before ECB, rates poised to
rise as EUR firms * Housing an important source of strength to the US economy *
Long yields rise – reflecting positioning
Wednesday's economic
indicator calendar is relatively scant so market attention will instead focus
on comments from the world's central bank policymakers ahead of the European
Central Bank's two-day meeting which kicks off in Malta tomorrow.
A Few Brief Thoughts
Daily Press Summary – Open
Europe
Comprehensive opinion
survey finds British voters deeply divided over EU membership *
Hammond: Unilateral veto
for national parliaments simply would not work * CBI backs EU membership but
calls for reform * Schäuble: Fifteen Eurozone countries agreed with my proposal
for temporary Grexit * Fiat and Starbucks each owe €20-€30 million, according
to landmark European Commission tax ruling * Juncker calls emergency migration
summit for front-line countries and Germany * Portuguese Socialist leader says
he can form government with backing of smaller leftist parties * Italy’s
Central Bank Governor under investigation for alleged fraud and corruption * ECB
expected to strike dovish tone but hold policy at tomorrow’s meeting
Brussels Playbook – Politico
Tax rulings — Merger
moves — EU to the moon
US Open – ZH
It's Back To The Future
As Stocks, Futures Jump On The Latest Abysmal Economic News; China Tremors
Return
Frontrunning – ZH
The latest ECB bank lending survey
saw the euro squeezing back higher, but president Draghi will still do what he
can to stem further euro gains. Elsewhere, the USD is resilient and USDCAD is
back near 1.3000 ahead of today’s Bank of Canada meeting.
In Europe the ECB
lending survey showed that QE is working. In the US companies are having a hard
time growing the top line. In Japan on the other hand trading is taking place
at a historical low of 14.4 times forward earnings.
FINNISH
Jenkkitalous
hiipuu väliaikaisesti, muttei hyydy * Euroalueen rahoitusolosuhteet ovat
kohentumassa * Valtionlainakorot kiipesivät eilen * Rakentaminen pirteää
USA:ssa
Kreikan Kultainen aamunkoitto ja muut kautta
euromaiden nousseet ääriliikkeet ovat finanssikriisien vakioseuraus.
Puoluekartta on pirstaloitunut ja äärilaidat vahvistuneet "aina"
kriisiaikoina, ja siksi kriisin pitkittyminen on taas kuin poliittinen
myrskyvaroitus.
Pertti
Haaparanta: Suomi erilainen kuin muut? –
Akateeminen talousblogi