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EUROPE
Will the euro survive the next big crisis? A new report inspired by
Jacques Delors, one of the architects of the single currency, says it probably
won't and urges policymakers to pursue immediate changes to Europe's troubled
monetary union to ward off the inevitable collapse.
The End of the European
Supernation? – Project
Syndicate
As the EU prepares to negotiate Britain’s exit, it is becoming
increasingly apparent that European supranationalism gave way to
inter-governmentalism long ago. The question is whether the EU’s status as an
enterprise dominated by its member states is a permanent condition.
Officials silent on study recommending use of ethnic and religious
statistics.
UNITED KINGDOM
Martin Wolf: No halfway
house will do: Theresa May will go for a hard Brexit – FT
Matteo Renzi: Italy will
deal with migrant crisis on its own – Politico
GERMANY
Merkel: refugee policy misunderstood, not mistaken – Politico
Merkel admits mistakes over asylum seekers after disastrous election – The Guardian
A note on Deutsche Bank – Golem XIV
Merkel’s “mea culpa” and what comes next – Reuters
Angela Merkel’s kinda sorta mea culpa – Politico
Angela Merkel Isn't Backing Down – View
/ BB
UNITED STATES
FEDERAL
RESERVE
Editorial: The Fed Should Be Clear and Raise Rates – View / BB
Editorial: The Fed Should Be Clear and Raise Rates – View / BB
The Rate-Hike Window of Opportunity Is Closing; Will the Fed Break It
Anyway? – WSJ
What Do We Need to Give the Fed's Hawks More Room to Fly? – BB
Ahead Of The FOMC Meeting – Tim
Duy
FOMC preview: Once a year Yellen – Nordea
OTHER
Fed and BoJ preview: why
September is turning into a dud – TF
September was supposed to be an epic month for the world's central banks.
But we are not seeing any action instead only delays and promises. Next
December will be the new September.
Why the Bank of Japan’s
Meeting Is a Wildcard for Global Markets – WSJ
What Have We Learned
From The Crisis? – Paul
Krugman
REGULARS
Danske Daily
– Danske
Bank
Eye-Opener
– Nordea
Waiting for the BoJ and the Fed * Important
news from the BoJ early tomorrow morning; The Bund dances around zero, USTs
rangebound waiting for Fed; USD weaker
Morning Markets
– TF
Markets are largely in a holding
pattern ahead of this week's central bank meetings where soft data are weighing
on the Fed's normalisation plans. Some major banks however say a hike cannot be
ruled out.
Daily Market Comment
– Marc
Chandler
Dollar Goes Nowhere Quickly
Daily Market Comment
– Macro
Man
Daily Press Summary
– Open
Europe
Brussels Playbook
– Politico
US Open – ZH
US Futures, Bonds Rise, Dollar Dips
As Fed, BOJ Meetings Begin
Frontrunning
– ZH
FX Update
– TF
The US dollar is back to the weak
side this morning as the market appears confident that the Fed will not shock
the market with a rate hike tomorrow. At the same time the market smells a BoJ
that will de-emphasise QE at its meeting tomorrow.
USDJPY looks like it could be ready
for a push on 100.0 but there is so much risk surrounding the big central bank
meetings in the US and Japan over the next 36 hours that it is a difficult one
to predict.
FINNISH
Aamukatsaus – Nordea
Japanin
keskuspankin korkopäätös vie markkinoiden huomion * Venäjän duuman vaaleissa
Putin puolueelle huomattava enemmistö
Raimo Sailas: Laiminlyönnit synnyttivät
1990-luvun laman – HS
Laman syynä ei
ollut niinkään se, mitä tehtiin, vaan se, mitä jätettiin tekemättä.
Millainen exit EU:n eksistentiaalisesta
kriisistä? – YLE
Viime viikolla
EU-komission puheenjohtaja Jean-Claude Juncker piti puheen. Perjantaina
järjestettiin Bratislavan huippukokous. EU on Brexit jälkeen suurimmassa
hajaannuksen tilassaan. Blokit vastaan blokit. Puhutaan eksistentiaalisesta
kriisistä. Saksan liittokansleri Angela Merkel viittasi jopa sodan ja rauhan
kysymykseen. Millainen exit kriisistä olisi? Aluksi kuullaan kommentteja
kysymykseen, pitäisikö järjestäytynyt rasismi kriminalisoida. Sakari Sirkkasen
studiovieraina ovat euromepit Petri Sarvamaa (kok) ja Jussi Halla-aho (ps).