17th Nov - Yellen's testimony boring

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EUROPE

‘Monster’ at the Berlaymont – Politico

Martin Selmayr is admired, despised and feared. What’s clear: He’s the most powerful EU chief of staff ever.

Martin Schulz wants to be Germany’s next chancellor: report – Politico

European populists unlikely to replicate Trump win – Pictet

UNITED STATES

Editorial: Obama's Sound Advice for the European Union – BB

El-Erian: A Primer on the Dollar's Surge – View / BB

  TRUMP

Editorial: Trump the Tax Reformer – View / BB

The Sunny Side of Trump – BB

Editorial: A Financial Reform Plan for Trump – BB

How Republicans Plan to Spend Like Crazy Without Running Up Debt – BB

Hedge Funds That Backed Trump Enter Washington, Demands in Hand – BB

  YELLEN TESTIMONY

Yellen’s Testimony – FED

Yellen Warns Of Excessive Risk-Taking Hike "Appropriate Soon" – ZH

Yellen Says Interest Rate Hike Could Come ‘Relatively Soon’ – Reuters

Treasuries Decline After Yellen Testimony; Crude Oil Advances – BB

Yellen Signals Fed Won’t Be Cowed After Trump’s Election Victory – BB

  

  DATA

Housing starts surge to nine-year high in October – Reuters

Housing Starts Soar By Most Since 1982 To Nine Year Highs – ZH

Jobless claims hit 43-year low as labor market tightens – Reuters

Consumer prices post largest gain in six months – Reuters

Core CPI Remains Above Fed Mandated 2% For 12th Month – ZH

Key Measures Show Inflation close to 2% in October – Bill McBride

OTHER

Goldman Sachs Maps Out Its Top Ten Market Themes for 2017 – BB

Barry Eichengreen: Globalization’s Last Gasp – Project Syndicate

Determining causality in economics may be elusive, but in the case of world trade it is clear: slower growth is the result of slower global GDP growth, not the other way around. And slower growth in international flows of financial capital may be just what the global economy needs.

REGULARS

Danske Daily – Danske Bank

Eye-Opener – Nordea

Yellen takes centre stage * US CPI inflation on track to accelerate to 2% by year-end? * Renewed peripheral selling pressure * USD strengthens as a December Fed hike probability close to 100%

Morning Markets – TF

The Dollar Index may have retreated slightly overnight but the ground beneath China's renminbi continues to slide forcing it ever lower. Janet Yellen speaks today which should help crystallize rate-hike intentions for December and perhaps offer some insight as to how she is 'looking forward' to working with Donald Trump.

Euro wrap-up – Daiwa

Daily Market Comment – Marc Chandler

Consolidation Gives Dollar Heavier Tone

Daily Market Comment – Macro Man

A Trump tantrum....or a China one?

Daily Press Summary – Open Europe

Brussels Playbook – Politico

Five Things You Need to Know to Start Your Day – BB

Bank of Japan offer * Yellen testimony * Commodity boom to cool * Markets flat * U.K. retail sales surprise

US Open – ZH

BOJ "Fires Warning At Bond Market" Sending Global Yields, Dollar Lower; All Eyes On Yellen

Frontrunning – ZH

FX Update – TF

The big moves in FX in recent days have yielded to a bit more two-way action here as EURUSD gyrates around 1.0700 and USDJPY bobs near 109.00 after a Bank of Japan shot across the bow on bond yields.

FINNISH

Aamukatsaus – Nordea

Vahvistaako Yellenin puhe koronnoston? * Euroalueelta saadaan lokakuun inflaatioluvut * Ison-Britannian työttömyys laski alimmilleen 11 vuoteen * Öljyn hinta pysyy volatiilina OPEC:n loppukuun kokoukseen asti