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EUROPE
Jean-Claude Juncker wants to bend European
budget rules – Politico
In his annual speech,
the Commission president is expected to call for more flexibility in budget
deficit calculations.
Euro area outlook: Ongoing recovery while
political risks are rising
– Nordea
The recovery will
continue in 2017-18, mostly driven by domestic demand. Inflation will rise only
moderately, allowing monetary policymakers to stay on the accelerator for long.
Although elections in major member countries might see EU- or euro-sceptic
forces progress, we don’t expect a break-up of the Euro area. The approaching
elections may shift fiscal policy to be more growth-supportive than we expect,
but they also increase the risk of delayed or even reversed reforms.
Merkel’s sister party CSU
to step up refugee fight: report – Politico
Wolfgang Schäuble goes
soft on spending (not) – Politico
Merkel Lawmaker Sees
Leeway on Migration in Brexit Bargain – BB
UK's small business
confidence unharmed by Brexit vote: survey – Reuters
Europe's Ride on the
Neoliberalism Express – BB
EUROPEAN
CENTRAL BANK
What Wall Street Expects
From The ECB, And How Will The Market React – ZH
Monetary policy
decisions Sep 8 – ECB
Introductory statement –
ECB
ECB staff macroeconomic
projections, September 2016 – ECB
Why Dropping ECB QE
Constraint Could Actually Tighten Policy – WSJ
ECB's Draghi says
looking at options to drive QE forward – Reuters
ECB disappoints, but
will act soon – ABN
AMRO
ECB review: See you in
December – Nordea
Not many signs of action
(yet) – Handelsbanken
ECB needs help from
committees – again – Danske
Bank
Draghi Orders ECB to
Review QE Program Amid Bond Scarcity – BB
When will the ECB run
out of bonds to buy? – FT
OTHER
Can trivia help us to be
less ignorant of our own ignorance? – FT
‘A broad base of knowledge helps
to clue us in to the times when we are stumbling towards a humbling’
Despite a plunge in overall
US M&A, Tech deals soar – Wolf
Street
How The Bank Of Japan
May Be About To Unleash A Global Selloff – ZH
REGULARS
Danske Daily
– Danske
Bank
Eye-Opener
– Nordea
Bund yield hits new lows as USD
remains weak, passive ECB may surprise * Some might expect too much from the
ECB today * Bund yields – bottom, and digging * The EUR may respond positively
to neutral ECB
Morning Markets
– TF
With just under two weeks to go to
the crunch Federal reserve and Bank of Japan policy meetings the market's
attention this session will be fixed on the European Central Bank's preemptive
session today.
Euro wrap-up – Daiwa
Daily Market Comment –
Marc
Chandler
Draghi Says Little, Door Still Open
for More
Daily Market Comment
– Macro
Man
ECB day bullet points
Europe Daily
– WSJ
ECB Stands Pat; May Meets Tusk;
Post-Brexit Tax Overhaul?
Daily Press Summary
– Open
Europe
May says she will not reveal her
hand prematurely as Corbyn suggests Britain should leave single market * Head
of Bundestag’s Foreign Affairs Committee: Free movement should be negotiable in
Brexit talks * UK banking industry keen on transitional arrangement while
details of new trade agreement with EU are thrashed out * Carney defends
pre-referendum comments over UK economy, accepts lower risk of recession * Mogherini:
Brexit means no more excuses not to push ahead with closer defence cooperation
* New poll: 88% of French opposed to Hollande running for second term in 2017 *
Police see increase in hate crime following Brexit vote * Politico: Juncker
plans to call for looser Eurozone fiscal rules in major speech next week
Brussels Playbook
– Politico
Juncker’s bendy budgets —
Deportation gymnastics — Socialist demands
US Open – ZH
With All Eyes On The ECB, Catatonic
Global Markets Remain In State Of Near Paralysis
Frontrunning –
ZH
FX Update
– TF
The euro isn’t getting much
attention ahead of the ECB where expectations are rather hazy on what Draghi
can deliver that will impress the market. If the ECB under-delivers on easing
today the fall-out could be widespread and have implications beyond the euro.
From the Floor
– TF
It's Mario Draghi's stage today and
the globe will be tuned in for what the ECB president has to say (which may
well be not very much).
FINNISH
EKP
hengähdystauolla * Saksan ja Britannian teollisuustuotannot laskivat selvästi
heinäkuussa * Kiinassa julkaistaan inflaatioluvut aamuyöstä