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EUROPE
UNITED KINGDOM
Carney Quantifies Gloom
With BOE Stimulus Debate at Crunch Point – BB
U.K. Fiscal Spur Urged
by Ex-BOE Officials as Carney Hits Limits – BB
EUROPEAN BANK STRESS TEST
European Bank Bloodbath
Destroys Stress Test Credibility – ZH
Europe’s Tumbling
Lenders Lose Almost Half Their Value in a Year – BB
European bank shares
under fire – FT
UNITED STATES
US Labour Market Monitor – Danske
Bank
July report set to
attract much attention as both employment and growth have slowed in 2016
U.S. consumer spending exits second quarter with
strong momentum – Reuters
JAPAN
Abe's Fiscal Policy: More of the Same – Marc Chandler
Why Japan's "Massive" ¥28 Trillion Fiscal
Stimulus Plan Was A Disappointment – ZH
Abe’s stimulus lesson for the world – FT
REGULARS
Mostly falling PMIs, open-minded
Fed, more monetary easing * UK confidence really suffering * ECB buys further
out the curve * Risk off and Fed’s Dudley drove the USD higher
The day started with a rate cut by
the Reserve Bank of Australia. The main cash rate was lowered by 25 bips to a
new record low of 1.5% sending the AUD down. UK data due today could hint at
Thursday's Bank of England action.
Euro wrap-up
– Daiwa
Bunds made modest losses while data
showed that interest rates on bank loans in the euro area have fallen to a
record low. Gilts made losses as the UK construction PMI fell less than
expected after the referendum vote, albeit still reaching a more than
seven-year low.
Greenback Slides Despite RBA Rate
Cut and 7-year Low in UK Construction PMI
The one chart that everyone's
talking about
Daily Shot –
TF
The European Banking Authority's
stress test as well as the Banca Monte dei Paschi rescue and "expected
default frequency" show that the Italian banking system remains a major
issue for the Eurozone. Also produtivity is not going the right direction in
Italy. Things are looking differently for Spain.
Global Shares Slide As Japan
Stimulus Disappoints, RBA Underwhelems, Italy Bank Fears Return
Frontrunning
– ZH
AUDUSD could be set for a push
beyond 0.7600 towards the heady heights of 0.7800 if dollar weakness persists.
FINNISH
Kuuma
asuntokauppa? * Fedin jäsenet varovaisen myönteisiä koronnostojen suhteen *
USA:n teollisuussektori jatkaa maltillista elpymistään * Australian
keskuspankin koronlasku heikentää Australian dollaria
IMF-virkamiehet ajoivat EU:lle
mieluista politiikkaa – valvontaelimeltä ankarat moitteet – Suomen
Uutiset