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EUROPE
Europe Said to Threaten Revolt Over Bank
Capital-Rule Revamp – BB
Germany, others tell
regulator to scale back, slow down reform * Two-day meeting of the Basel
Committee concluded on Thursday
BANKS
Deutsche Bank shares
tank after CEO rejects $14bn DOJ settlement – ZH
Deutsche Bank Tumbles as
DoJ Claim of $14 Billion Rebuffed – BB
Deutsche Bank Investors
Fret Its Legal Reserves Won’t Be Enough – BB
Bank Slump Triggers
Worst Week in Three Months for Europe Stocks – BB
BRATISLAVA
SUMMIT
Live blog: talk on
migration, terrorism and Brexit strategy – Politico
Europe’s leaders talk
through ‘crisis’ – Politico
Jean-Claude Juncker
offers his own summit roadmap – Politico
UNITED
KINGDOM
No big change yet to
outlook for slow-burn Brexit pain – Reuters
Hammond Said to Be Ready
to Ditch EU Single-Market on Brexit – BB
UNITED STATES
U.S. inflation stirring
as healthcare, housing costs surge – Reuters
Markets React to
Surprising Inflation Print – WSJ
Lively debate and 'hawkish hold' seen from Fed – Reuters
OTHER
Yield Forecast Update – Danske
Bank
No bond sell-off this year
FX Forecast Update – Danske
Bank
Central bankers snooze amid political risks
Bank of Japan preview – Danske
Bank
Focus on assessment: policy adjustments but no easing
Japan’s Biggest Bank
Urges BOJ to Weigh Policy Side Effects – BB
Wall Street’s 0.01%: The
Guru Who Only Talks to Hedge-Fund Elite – BB
A new financial elite is emerging on Wall Street. And if you're not part
of it, the next best thing is to sell to it.
REGULARS
US retail sales and manufacturing
output disappoint * UST short yields drop significantly – watch out today for
US CPI * USD rally fades as Fed a hike probability this year falls to 50%
Overnight gains on Wall Street gave
Asian investor sentiment a welcome lift. Both Japan's Nikkei 225 and
Australia's S&P/ASX200 made gains. Meanwhile markets were closed in China
and Hong Kong for the mid-Autumn festival holiday.
Euro wrap-up
– Daiwa
The impact of NIRP on inflation:
some empirical evidence
Merkel and Hollande urge “clear
vision” for Europe’s future, as Tusk calls for “realistic diagnosis” of the
causes of Brexit * Corbyn looks to Norway for post-Brexit blueprint * Senior
German MP says UK could be exempt from free movement of people while keeping
full single market access after Brexit * US financial firms urge US government
to push for “transparent” UK-EU negotiations that allow for transitional
arrangements * Bank of England hikes growth forecasts as retail sales fall less
than expected * Twelve EU member states make last-ditch attempt to save EU-US
trade deal * City of London is “a massive asset for the whole of the EU”, says
Boris Johnson * The Daily Telegraph: UK officials fear EU is trying to change
minds on Brexit with tough negotiation * Renzi: Date of constitutional
referendum will be decided on September 26 * Dutch PM silent on plans to deal
with EU-Ukraine agreement rejected by Dutch voters * EU extends sanctions on
Russia by a further six months
The brat pack — How Vestager got
Apple — Barroso troubles
US Futures; Euro Stocks Slide On
Deutsche Bank Liquidity Fears; Bonds Bid
Frontrunning
– ZH
The Wall Street Journal reported on
divisions within the BoJ policy board on how to proceed with policy from here
and this has guided the JPY back stronger. Meanwhile risk assets celebrated
yesterday’s weak US retail sales number on the implications for FOMC guidance
next week.
US retail sales were a serious
disappointment but markets celebrated in best 1999 style with a risk-on
splurge. A deterioration in Clinton's health meanwhile could cause a massive
one-off consequence for risk appetite.
FINNISH
Venäjän
keskuspankki elvyttää lisää * USA:n vähittäismyynti laski vastoin odotuksia *
Englannin keskuspankki (BoE) piti odotetusti rahapolitiikan ennallaan