27th Oct - Good UK GDP

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EUROPE

The danger of Germany's current account surpluses – vox

The October 2016 expert survey of the Centre for Macroeconomics (CFM) and CEPR invited views from a panel of macroeconomists based across Europe on Germany’s trade surplus, its impact on the Eurozone economy, and the appropriate response of German fiscal policy. More than two-thirds of the respondents agree with the proposition that German current account surpluses are a threat to the Eurozone economy. A slightly smaller majority believe that the German government ought to increase public investment in response to the surpluses. 

Belgium Agrees Deal to Back EU-Canada Trade Pact – BB

Belgium reached a deal with the country’s regional parliaments to approve a trade agreement between the European Union and Canada, ending a deadlock that has delayed the accord’s signature.

Deutsche Bank: Unexpected Q3 profit, but market yawns, asks for more – ZH

Report on financial structures – ECB

Press release – ECB 

  UNITED KINGDOM
UK still resilient to Brexit vote – Nordea

British economy defies fears of immediate Brexit growth hit – Reuters

U.K. Growth Shows an Economy Resilient to Brexit – BB
Banks Likely to Lose Passporting With Brexit, Official Says – BB

Round 1 to Brexiteers as UK economy passes early test – Politico

Brexit: The view from Rome – Open Europe

UNITED STATES

5 Things to Watch in the Third-Quarter GDP Report – WSJ

OTHER

Satyajit Das: The World Is Out of Weapons – View / BB

Governments and central banks have very few weapons left -- and have probably lost any chance they once had of averting a prolonged stagnation.

Goldman’s Multifactor Robots: A Post-Human Guide to Investing – BB
ETFs combining multiple investment themes are next big thing * Billed as a core holding, will investors buy and hold?

Curse of Asia Witching Hour Haunts Traders After Pound Crash – BB

Traders grow wary of leaving automatic stop-losses in place * Banks pulling back from dealing expose market’s frailties

Bonds Slump Deepens on Shifting Policy Outlook; Commodities Rise – BB
Gilts lead bonds lower after U.K. GDP exceeds estimates * Norwegian krone gains as Norges Bank keeps key rate unchanged

More on the return of advanced economy inflation – FT

Keeping the Internet Free Might Get Very Expensive – View / BB

REGULARS

Danske Daily – Danske Bank

Eye-Opener – Nordea

More Riksbank easing today; no drama from Norges Bank; and yields are rising * Riksbank surprise today * Long yields keep rising despite lower oil prices * Central bank “fight” – NOK vs SEK today

Morning Markets – TF

Asian stocks fell widely on Thursday though shares in Korean electronics giant Samsung rose despite a plunge in third-quarter earnings as the group vowed to overcome its Galaxy Note 7 flaming-phone disaster and deliver "solid growth" in profits next year. Bonds fell in a global selloff.

Euro wrap-up – Daiwa

Daily Market Comment – Marc Chandler

Rising Yields Continue to be the Main Driver

Daily Market Comment – Macro Man

Schlemiel, schimazel

Daily Press Summary – Open Europe

Brussels Playbook – Politico

US Open – ZH

US Futures Rebound, Global Stocks Dip As Bond Yields, Dollar Hits 9 Month High

Frontrunning – ZH

FINNISH

Aamukatsaus – Nordea

Inflaatiolle vauhtia Riksan kyydissä? * USA:n lokakuun palvelusektorin ostopäällikköindeksi yllätti positiivisesti * Norjan keskuspankki pitää korot ennallaan * Ruotsin kruunun odotetaan heikkenevän