Here
are the links to the weekly roundups, reviews and also previews of the
beginning week. Last week’s ‘Weekly Support’ is here.
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on Twitter
LAST WEEK
Weekly Scoreboard – Between
The Hedges
Succinct summation
of week’s events
– The
Big Picture
Weekly Market Review – ZH
Tech,
Small Caps Suffer Worst Week In 10 Months As Trump Hangover Hits
Bloomberg’s
What'd You Miss in Markets This Week? – Youtube
S&P 500
Snapshot
– dshort
Flat
Friday, Down 0.97% for the Week
World Markets
Weekend Update
– dshort
The
Rally Takes a Pause
NEXT WEEK
US Schedule for
Week
– Bill
McBride
Economic
Calendar – Berenberg
Wall St Week Ahead – Reuters
Wall
Street little changed as bank rally pauses
Weighing the Week
Ahead –
Jeff Miller
EU Week Ahead – WSJ
EcoWeek – BNP
Paribas
The production cut announced by OPEC
countries for the first half of 2017 led oil prices to markedly rebound. This
is bad news for consumer spending, as energy demand is quite inelastic to
prices. But the flexibility of US oil production should limit the increase in
oil prices.
Week Ahead: Italy
and ECB meeting –
Nordea
Financial
markets should be prepared for a NO in the Italian referendum, causing a period
of political uncertainty that could affect not least the banking sector. From
the ECB, we expect more easing and no tapering hints to keep bond yields low.
Weekly Focus: ECB
and EU politics –
Danske
Bank
Italian
referendum on Sunday – ‘No’ seems likely but do not expect market panics or
exit rumors * ECB meeting to extend QE * Last Fed speeches before blackout
period * UK Supreme Court hearing on Art.50
Strategy:
Political super cycle not over yet – Danske
Bank
The
global recovery is gathering pace and is likely to continue in 2017 * Long-term
yields are set to rise further with reflation, primarily in the US * Despite a
fragile OPEC deal, oil prices are likely to rise further in 2017 * Position for
a stronger USD near-term but expect a rebound in EUR/USD later in 2017 * Stronger
global economic outlook is still positive for equities.
UK Week Ahead – Handelsbanken
Week Ahead – Handelsbanken
Global Week Ahead – Scotiabank
Europe:
Italians and Austrians vote ahead of the ECB * Canada: BoC waiting for
inflation, exports and Trump * US: Calm before the hike * Asia: Chinese, Indian
inflation on opposite path * LatAm: Driven by external factors
Weekly Market
Outlook
– Moody’s
Stocks
to Guide Yields and Credit in 2017
Macro Weekly: No
time for ECB taper –
ABN
AMRO
ECB
on Thursday to announce whether and at what pace to extend QE beyond March and
changes to increase the eligible universe of assets. We expect the ECB to
extend asset purchases at the same pace through to September 2017 while
dropping the restrictions on not being able to purchase assets yielding below
the depo rate and below a 2y maturity. Tapering would be inconsistent with the
subdued trend in core inflation as well the weakness in labour cost growth. Our
base case would boost German government bonds, especially at the short end of
the curve, and lead to a lower euro.
Speculative
Positioning
– Marc
Chandler
Speculators
Net Short Yen in the Futures Market for the First Time in a Year
FX Outlook – Marc
Chandler
Markets
Lack Near-Term Conviction
Macro
Comment – Marc Chandler
Focus
Shifts toward Europe
FX Week Ahead: Us
needs to step up or risk stalling – TF
The
US dollar struggled in places this past week, most notably against resurgent
sterling and oil-linked currencies. Now it's time for the strong USD to step up
again for further gains if bulls want to avoid it stalling from now until
year-end. We would like to see a broader-based USD rally, especially against
the commodity currencies, euro and the Swiss franc in the coming week