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EUROPE
Inaction and
Euroscepticism Are Killing the European Project – euinside
6 takeaways on the EU
single market plan – Politico
Editorial: Poland's
Risky Choice – BB
Mark Carney's EU Speech
in Five Charts – BB
EU struggles with
migration edicts – Politico
Further SEK 65 billion
bond purchases, keep repo at −0.35% - Riksbank
More QE From Sweden – ZH
Unchanged repo rate, 65
bn in QE, lower rate path – Nordea
EUROPEAN CENTRAL BANK
ECB Forum Conference proceedings – ECB
ECB’s Sintra Forum on “Inflation and Unemployment in Europe” – voxeu
The monetary policy of the ECB (slides) – ECB
Coeure: Slower inflation rise could mean ECB deposit rate cut – ECB
Q&A on the ECB’s negative rates –decision to cut again should be
FX-dependent – Pictet
Fiscal multipliers during consolidation: evidence from the EU – ECB
ECB’s ‘whole menu’ bereft of new dishes – Reuters
ECB Officials Haggle Over Fresh Stimulus in Draghi's Aftermath – BB
UNITED STATES
5 Things to Watch in the
Third-Quarter U.S. GDP Report – WSJ
FEDERAL RESERVE
FOMC October Statement – FED
Fed Statement Tracker – WSJ
Fed less worried about risks from China’s slowdown – WaPo
Redacted Version of the Statement – David
Merkel
It’s what the Fed didn’t say that counts – Joshua
Brown
Economists React: ‘December Is in Play’ – WSJ
Fed puts December rate hike firmly on the agenda – Reuters
Fed Considers December Rate Rise, Sees ‘Moderate’ Expansion – BB
Stocks Slide as Fed Signals December Rise Remains on the Table – WSJ
On hold now - December rate hike remains on the table – Nordea
OTHER
Max McKegg: Time for Bank of Japan to think
outside the box – TF
New forecasts will be
presented at BoJ meeting, including an inflation update expected to show CPI at
minus 0.2%. Meanwhile the USDJPY exchange rate is close to a rock-bottom,
40-year low. So the Bank of Japan is left with few options, unless the central
bank can think outside the box.
Stephen Pope: Japan the unfixable stays on slow
growth mode – TF
Is it really good enough
to look to exogenous events to understand the Japanese problem? The crucial and
fundamental problem is the the fact that Japan’s economy simply doesn’t grow
much in the first place and doesn't know how to grow
REGULARS
Morning MoneyBeat Asia – WSJ
U.S. Stocks Ease Again, Led Down by
IBM
Morning MoneyBeat Europe – WSJ
Fed Shadow Lurks Over Markets
Morning MoneyBeat US – WSJ
What the Fed Meeting Means for
Markets
Danske Daily – Danske
Bank
Global Daily – ABN
AMRO
We now expect the ECB to cut its
deposit rate by 10bp to -0.3%…while it should leave the door open for more * Swedish
experience shows deeply negative rates can be effective * It would take a
bigger than 10bp cut for the short end to rally further
Euro rates update – Nordea
Eye-Opener – Nordea
Fed on hold but December hike still
on * Global rates under pressure on weaker data * Renewed fall in energy prices
– risk to related currencies
Morning Markets – TF
Today's Federal Open
Market Committee meeting will give investors a glimpse into US monetary policy
as the Fed struggles to meet its normalisation goals.
Daily FX Comment – Marc
Chandler
Soft Inflation Data Fans
Expectations RBA Rate Cut Next Week
Daily Shot – TF
Troubles abound. Evidence that the
US may be shifting into a lower gear is now mounting with consumer confidence,
services sector activity and factor orders all missing estimates. In the
Eurozone a tighter money supply has crimped corporate borrowing, UK GDP fell
short of consensus projections and in China, industrial profits continue to
slide. It's not pretty. corporate borrowing money supply
Daily Press Summary – Open
Europe
David Cameron to warn
against ‘Norway-style’ future for Britain outside the EU * Timmermans:
Britain’s desire not to be forced into ‘ever closer union’ is fair enough * Bundestag
President threatens ‘No’ vote on EU-US trade deal if negotiations are not
transparent * Merkel given ultimatum to change migration policies as her party
slumps in polls * Mobile roaming charges to be scrapped from mid-2017 after
final vote in European Parliament * Catalan separatist parties table motion
marking the official start of independence process * EU to publish major review
of VAT rules next year * European Commission unveils 2016 Work Programme and
new strategy aimed at boosting single market * Juncker: European Commission
could loosen fiscal rules to take refugee spending into account * Swedish
Riksbank boosts QE as ECB prepares for further easing * New Portuguese
government unveiled
Brussels Playbook – Politico
Single market day —
Migration ultimatums — Talking to Turkey
US Open – ZH
Markets On Hold Awaiting The Fed's
Non-Announcement As Central Banks Ramp Up Currency Wars
Frontrunning – ZH
The USD looks firm ahead of today's
FOMC statement, with an odd lack of participation, however, in USDJPY.
Elsewhere, very low Australia Q3 CPI data socked the Aussie for significant
losses and sent AUDUSD into a tailspin through key support.
Markets are bracing for an
announcement after the close in Europe from the US Federal Reserve, and any
clear hawkishness or dovishness would be a big jolt to the world's nervous
markets.
FINNISH
Aamukatsaus – Nordea
Katseet
Fedissä * Venäjän keskuspankilla mietinnän paikka * Rakentamisen heikkous
jarrutti Britannian BKT-kasvua * Ruotsin keskuspankki ilmoittaa tänään
lisäelvytyksestä
Väyrysen
uusi euroeroehdotus – Roger Wessman