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EUROPE
Will 2017 be a dreadful
bond year because the ECB unexpectedly turns hawkish? We examine why and how a
swift normalisation of ECB’s monetary policy could be conducted. We assess how
curves could react, and how high the Bund could go.
GERMANY
‘Here in our country’ – Politico
Berlin attack is also an
assault on German politics – FT
Christmas Market Tragedy
Hands Merkel Critics Line of Attack – BB
View: Berlin and Merkel Will Survive This Attack, Too – BB
View: Berlin and Merkel Will Survive This Attack, Too – BB
OTHER
2016 is coming to an end and it’s certainly been an exciting and
completely unpredictable year.
Nominal vs Effective Exchange
Rates – Marc Chandler
REGULARS
Italian government preparing to use
public money to support banks * BoJ more optimistic * German bonds rally, curve
continues to bull-flatten * USD in demand
Risk sentiment has taken a hit
tomorrow following an outlandishly grim holiday news cycle yesterday that saw
terror attacks and a ruthless assassination strike multiple regions of the
globe.
Yen Surrenders Yesterday's Gains,
while Euro Struggles to Hold above $1.04
Bank of Japan * Terror attacks *
Italy bank fund * Markets mixed * Obama to block oil rights
S&P Futures Rise Propelled By
Stronger Dollar; Europe At 1 Year High As Yen, Bonds Drop
The Bank of Japan upgraded its
assessment of the Japanese economy but fretted over still-low inflation
expectations and kept policy unchanged leading to a strong USDJPY bounceback as
the US dollar was broadly firming again anyway.
FINNISH
Japanin keskuspankki optimistisena * Ruotsissa
julkaistaan joulukuun kuluttajien ja teollisuuden luottamusindeksit * Tänään
pidetään Turkin ja Unkarin keskuspankkien rahapoliittiset kokoukset * Saksan
yritysten luottamuksesta kertova Ifo-indeksi nousi miltei kolmen vuoden huippuihinsa