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EUROPE
EU strikes deal on
stronger trade arsenal against China – Politico
Netherlands election:
Will Geert Wilders follow Trump and win power? – Europp
CRISIS
COUNTRIES
UniCredit Plans $13.8
Billion Stock Sale, Cuts to Boost Profit – BB
IMF Demands More Spain
Reforms to Keep ‘Impressive’ Recovery – BB
Tim Worstall: It's Not
The IMF Demanding Greek Austerity – Forbes
GERMANY
Merkel’s Party Says
Putin Would Like to See Her Fall in 2017 – BB
Germany considers
forcing Facebook to delete fake news – Politico
Merkel, Hollande back
extending sanctions on Russia over Ukraine– Reuters
View: Germany is leading
a European crackdown on "benefit tourism” – BB
UNITED STATES
Fed normalisation tool box stocked and ready for second rate hike – Danske Bank 2016 Financial Stability Report – OFR
2016 Annual Report to Congress – OFR
OFR Assesses Key Threats to Financial Stability – OFR
TRUMP
Three Things We’ve Learned About How Trump Will Govern – 538
Trump picks Exxon chief Tillerson as secretary of state – Reuters
Trump Picks Exxon Mobil’s Tillerson as Secretary of State – BB
Trump's Treasury Pick Has a $230 Million Blemish on His Record – BB
Tillerson a Frequent White House Visitor Over Russia Sanctions – BB
View: Exxon CEO Has the Skills for a Better Russia Policy – BB
Trump Dissing Daily Intelligence Briefing Worsens Rift With CIA – BB
Trump's tough trade talk makes U.S. firms fear China retribution – Reuters
George Magnus: Trump has put US-China relations in the balance – Prospect
Trigger-happy Trump stalks baffled
China – TF
OTHER
Martin Enlund: USD: a
bright fiscal future is not in the price – Nordea
The USD has done well recently. The related UST sell-off primarily
reflects a normalisation, and not yet a brighter fiscal future, implying that
Trump’s fiscal policy could push the USD still stronger - but that seems
unlikely for the near term.
Fundamentals Are Becoming Important Again to the Trump-Led Stock
Market – BB
The rally in developed market stocks sits comfortably with sharp upgrades
in earnings expectations in recent weeks.
OPEC Deal to Create Oil-Supply Deficit Next Half, IEA Says – BB
China maintains economic momentum – Pictet
Research links: focused
and boring – Abnormal Returns
REGULARS
Danske Daily
– Danske
Bank
Eye-Opener
– Nordea
Equities, yields, currencies mixed
waiting for the Fed * Swedish inflation numbers * The Bund settles just below
0.4% * USD on back foot ahead of the Fed
Morning Markets
– TF
It's a data-heavy session in Europe
today with inflation updates from around the continent first on the agenda.
Elsewhere the Italian banking debacle looks to be calming – UniCredit the
country's biggest bank has unveiled a massive restructuring plan.
Euro wrap-up – Daiwa
Daily Market Comment
– Marc
Chandler
Narrowly Mixed Dollar Conceals
Resilience
Brussels Playbook
– Politico
Five Things You Need to Know to Start Your Day – BB
Unicredit * IEA on OPEC deal * Trump’s
interests * Markets rise * UK inflation, FED
US Open – ZH
Global Stocks Jump, Dow Set For 16th
Post-Election Record High After UniCredit Restructuring; Fed Looms
Frontrunning
– ZH
FX Update –
TF
The market is second guessing
whether the Fed can boost the greenback tomorrow as a number of major USD pairs
languish near key supports ahead of the FOMC. We’re constructive on further USD
upside potential.
FINNISH
Aamukatsaus – Nordea
Riksbank jatkaa inflaation tuijottamista * Saksan
ZEW-indeksin odotetaan pysyvän laajalti muuttumattomana * Turkin BKT supistui
kolmannella neljänneksellä 1,8 prosenttia suhteessa edellisvuoteen * Öljyn
hinta on laskenut eilisen avauksen huipuista