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EUROPE
Paul Krugman: Adjustment in the Euro Area – NYT
Euro isn’t totally
unworkable. It’s just extremely costly
W. Münchau: Watch the presses roll as Europe
scrambles to fix its banks
– FT
This is how the crisis
may be resolved — not with a bailout or debt resolution but by printing money
ECB Decisions: Deposit Facility rate, APP,
Unequal Supply Growth & Oil – Place
du Luxembourg
Merkel says euro zone crisis not yet overcome – Reuters
European politics: Rising political
uncertainties in 2016 – DB
Research
A continuation of
Europe’s mismanagement of the refugee crisis risks to unravel decades of
European integration. Agreeing on a joint response and moves towards a genuine
European migration system are a major political challenge for 2016.
MORE POLITICS
Spanish poll sees
Socialists trailing fourth, Rajoy ahead – Politico
Outlook for Spain's
Election – Marc
Chandler
Merkel ally says her
austerity push boosted Le Pen – Politico
Le Pen fails to win any
regions in French local election – Politico
5 takeaways from the
elections in France – Politico
Le Pen in France,
climate and the defeat of nationalism – FT
Why Le Pen Just Lost Her
Best Chance to Win French Election – BB
UNITED STATES
FEDERAL
RESERVE
Merrill on FOMC:
"The not-so-dovish hike" – Bill McBride
Nomura on FOMC:
"Life after lift-off" – Bill McBride
Goldman: FOMC Preview – Bill McBride
After ECB's Hawkish Cut,
Is the Fed about to Deliver a Dovish Hike? – Marc
Chandler
Makes You Wonder What
The Fed Is Thinking – Tim
Duy
FOMC Preview and Review
of Projections – Bill McBride
Fed Lift-off Series #3:
FOMC preview: we expect a dovish hike – Danske
Bank
Four Charts to Make a
Rate-Raising Fed Nervous – View/BB
US Watch – Five
questions on the Fed rate hike - ABN AMRO
OTHER
FX: Fed dot com – Nordea
Last week, last chance
for Fed to make it a 2015 hike. Will they? What do Markets think? Risk
sentiment, above all... what is best for the USD on the day, should be worst
longer out.
It really has been a bad year for high yield – FT
OFF-TOPIC
The secret to why money
is so good at changing people’s minds – WaPo
How Star Wars Conquered
the Galaxy – Reason
Academic B.S. as
artificial barriers to entry – Noah Smith
Who said it: ‘Star Wars’
or the European Union? – Politico
Sweden faces moral
dilemma over migration – Politico
REGULARS
Morning MoneyBeat Asia – WSJ
Markets Fall Ahead of Fed Meeting
This Week
Morning MoneyBeat Europe – WSJ
Stocks Rebound, But The Fed Awaits
Morning MoneyBeat US – WSJ
Fed Set to Raise Into Turbulent
Markets
Danske Daily – Danske
Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Oil slide continues, CNY further
de-pegged, Fed ready for take-off * Week ahead: time for long-awaited Fed
lift-off * German bonds in demand again
* EUR with some performance
Morning Markets – TF
As financial markets
brace for the first US rate hike in almost a decade investors have been spooked
into running for cover in gold the Japanese yen and core government bonds.
Equities the greenback and crude oil have all tumbled during a frantic Asian
session overnight.
Daily FX Comment – Marc
Chandler
Slow Start of Important Week, though
Rand Jumps Back
Daily Shot – TF
Set against a backdrop of an
ever-falling oil price the anticipated US Federal Reserve rate rise and
heightened risk aversion it is not that easy to find good news. However one of
the EU's worst performers namely Italy managed to surprise positively.
Daily Press Summary – Open
Europe
Downing Street denies
dropping four-year migrant benefits demand as Boris Johnson suggests
Danish-style opt-out * Front National fails to win any French region but
obtains record number of votes * New poll: Majority of FTSE 350 board members
concerned by Brexit but few willing to speak out * Merkel wants to “noticeably
reduce” asylum seekers and refugees but stays clear of ‘upper limit’ * New
Spanish poll shows rebound for Podemos, sharp fall for Ciudadanos * New EU data
protection law could push tech companies out of the EU * Paris climate change
summit wraps up partly binding deal * Juncker to unveil plans for beefed-up EU
border agency * Wilders' populist party takes massive lead in Dutch poll
Brussels Playbook – Politico
National Front wipeout —
Climate deal — CDU summit
US Open – ZH
Futures Resume Slide
After Oil Tumbles Below $35, Natgas At 13 Year Low; EM, Junk Bond Turmoil
Accelerates
Frontrunning – ZH
China’s move late Friday to bring
focus to broader RMB exchange rate looks like the latest attempt by China to
affect the Yellen Fed’s deliberations as it moves towards a rate hike on
Wednesday.
China likes to test
itself on the international stage and may be seeking to propel the Fed down a
path to its own liking. Could it see the Fed pull its horns in?
FINNISH
Fed
korostaa maltillista koronnostotahtia * Öljyn hinta jatkaa painumistaan *
Riksbank pitää rahapolitiikkansa ennallaan huomenna * Meksikon keskuspankki
joutuu reagoimaan Fedin toimiin heti torstaina
Siitä
on nyt kuutisen vuotta, kun Suomen talous sukelsi viennin ja investointien
romahtamiseen. Sen jälkeen talous on polkenut edes joten kuten paikoillaan
kotimaisen kulutuksen varassa. Seuraavaksi sekin sakkaa – ja pian tämä ankeus
on vanhaa hyvää aikaa.
Sisäinen devalvaatio – Case
Kreikka – Roger
Wessman
Politiikkaradio:
Ilmastosopimus & Euroalue – YLE
Studiossa
ovat Greenpeacen maajohtaja Sini Harkki ja Energiateolllisuuden tj. Juha
Naukkarinen. Fed nostanee ohjauskorkoa keskiviikona. EKP puolestaan laajensi
rahapoliittisia tukitoimiaan euroalueella. Onko EKP:n toimista käynnistämään
kasvua euroalueella? Näihin vastaavat Aktia-pankin pääekonomisti Heidi Schauman
ja entinen Suomen Pankin rahoitusmarkkinaosasaton päällikkö, rahoituskonsultti
Heikki Koskenkylä. Sakari Sirkkanen on toimittajana.