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EUROPE
The Euro and the Battle
of Ideas review — an impasse in Europe – FT
Can the euro area reconcile its ‘French’ and ‘German’ philosophies — or
must it choose between them?
ITALY
UBS on the Italian referendum – ZH
Italy cuts growth outlook, hikes deficit, reverses debt pledge – Reuters
Renzi's reforms leave Italian economy and voters flat – Reuters
BANKS
Bank worries weigh – ABN
AMRO
EU Banking Mayhem, One Bank at a Time, then All at Once – Wolf
Street
German government prepare Deutsche Bank rescue plan: Die Zeit – Reuters
German finmin says not working on rescue
plan for Deutsche Bank – Reuters
The Deutsche domino – FT
Deutsche Bank: A Sinking Ship? – Frances
Coppola
Merkel Fate Tied to Deutsche Bank Fortunes, Left Party Head Says – BB
EUROPEAN CENTRAL BANK
First ECB Annual Research Conference – ECB
ECB Watch – Will the ECB buy equities? – ABN
AMRO
Barry Eichengreen: ECB - From Problem to Solution – OpenMind
Is ECB Getting Political Too? – euinside
Could the ECB follow BoJ’s yield control approach? – FT
Draghi Vows to Keep Up Stimulus After German Parliament Grilling – BB
UNITED STATES
Why Trump thrives despite the news media’s attacks – Fabius
Maximus
Noah Smith: Americans Actually Don't Hate Trade – View
/ BB
Martin Wolf: Under Trump, democracy would lose credibility – FT
OTHER
Bridgewater, Deutsche Bank: how much time central banks have – ZH
Global Imbalances and Currency Wars at the ZLB – ECB
Goldman Sachs: Not Even An OPEC Deal Will Stop Oil Going Lower – ZH
China Economic Outlook: No more easy growth – Nordea
Bond Market in Deepest Central Bank-Induced Slumber Since 2014 – BB
Huopainen: Donald Trump didn’t dump the peso – Mexico did – TF
Roubini: We need to return to fiscal policy – WEF
A Global Guide to Strategic-Beta Exchange-Traded Products – Morningstar
The Number of Strategic-Beta ETPs Continues to Mushroom – Morningstar
Saudi Devaluation Bets Surge, Stocks Crash, Debt Deal Falters – ZH
Citi Has One Unpleasant Chart For Anyone Thinking Of Buying Twitter – ZH
REGULARS
Danske Daily
– Danske
Bank
Eye-Opener
– Nordea
OPEC meeting, Fedspeak, Draghi in
Berlin. US Treasury 10Y yield reverses the monthly gain. Oil key for the
EUR/USD – surprise from OPEC?
Morning Markets
– TF
Today's US durable goods order is
expected to come in short of expectations at a point when the USD is crying out
for a serious directional factor. Will it be enough to move the needle?
Euro wrap-up
– Daiwa
Daily Market Comment
– Marc
Chandler
Dollar Mostly Firmer, but Going
Nowhere Quickly
Daily Market Comment
– Macro
Man
Front end spread widening: not just
a regulatory thing
Daily Press Summary
– Open
Europe
Fox hints that the UK will leave the
EU customs union * Verhofstadt stresses European Parliament willing to veto
Brexit deal, but says he wants an agreement which makes all sides “comfortable”
* Commission to unveil new push to harmonise corporate tax in the next few
weeks
Brussels Playbook
– Politico
Jean-Claude hearts Martin, take 2 —
Big leak forward
US Open – ZH
Futures Fail To Rebound As Deutsche
Bank Tries To Comfort Markets That It Is "Fine"
Frontrunning
– ZH
FX Update
– TF
Every effort to generate directional
momentum seems to be getting turned back of late with the USDCAD surge the
latest move to falter after a break of key resistance. With so much at stake
however we can hardly remain bogged down in a tight range forever.
From the Floor
– TF
The cheer provided by the
presidential debate in the US at the start of this week proved only temporary
and markets have returned to a state of jittery uncertainty as they await some
new source of direction.
FINNISH
Aamukatsaus – Nordea
Julkistalouden
sopeutus on jaettu maksukyvyn mukaan * Ruotsin talous osoitti jälleen
hidastumisen merkkejä * EKP ei harkinnut epätavanomaisempia rahapolitiikan
keinoja * OPEC-maat kokoontuvat tänään keskustelemaan öljyntuotannon
rajoittamisesta
Brysselin kone: Kenellä on valta
EU:ssa? – YLE
Miten
valtasuhteet EU:ssa ovat muuttuneet ja muuttumassa? Mikä on eri jäsenmaiden,
komission vai europarlamentin rooli? Toteuttaako EU Saksan perässä
ordoliberalistista talousoppia ja miten populistisin perustein päätöksiä EU:ssa
tehdään. Haastateltavana tutkijatohtori Timo Miettinen Helsingin yliopiston
Eurooppa-tutkimuksen verkostosta.
Jan Hurri: Maailman vaarallisin pankki
– tätä ei voi päästää nurin – TalSa
Saksan suurin
pankki Deutsche Bank on IMF:n mukaan maailman suurin finanssiriskin lähde. Nyt
se on pahemmassa kuin pinteessä, mutta myös liian suuri ja liian vaarallinen
kaatumaan. Mutta kuka estää?