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Wednesday, December 7

7th Dec - Third rally day





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EUROPE
Inside Angela Merkel’s bunker – Politico
The German chancellor strikes a grim chord as she launches her bid for re-election.

Euro Watch – Dutch politics: No Nexit – ABN AMRO

Editorial: Europe's Still Dithering Over Greece – View / BB

U.K.'s Risky Current-Account Deficit Isn’t as Big as Was Thought – BB

Moody's Cuts Italy Ratings Outlook To Negative – ZH

  EUROPEAN CENTRAL BANK
ECB preview: QE extension unlikely to surprise anyone – TF
ECB and the Future of QE – Marc Chandler
Ex-ECB Chief Cautions Against Fiscal Policy in the Eurozone – WSJ


OTHER
Saxo Bank’s Outrageous Predictions 2017 – TF

European Stocks Are Trading at Their Biggest Discount Since 2009 – BB
Stoxx 600 firms about 15 percent cheaper than S&P 500 peers * Optimism about global growth, ECB stimulus lifting shares

Finding Risk in All the Wrong Places as Trump Era Begins – BB
Trump's foreign policy and European elections may be biggest threats to the world order

A Pessimists' Guide To 2017 – ZH

A guide to making 2017 financial market forecasts – Polemic’s Pains

"Panicked" Citi Trader " Behind Pound Flash Crash – ZH


REGULARS
Danske Daily – Danske Bank

Eye-Opener – Nordea
Markets awaiting ECB, USD a tad stronger, early elections in Italy? * Still focus on Italian politics and banks * Trumphoria has run out of steam * Calm markets awaiting ECB and Fed

Morning Markets – TF
Sentiment in Asian equity markets was upbeat today as gains throughout the region prevailed with even Australian investors shrugging off the news of the first quarterly contraction in GDP in years to push the benchmark S&P/ASX200 sharply higher. Expect Europe to follow suit.

Euro wrap-up – Daiwa

Daily Market Comment – Marc Chandler
Greenback is Broadly Steady While Sterling Slides

Daily Market Comment – Macro Man
Europe, China, US

Daily Press Summary – Open Europe

Brussels Playbook – Politico

Five Things You Need to Know to Start Your Day – BB
Managing the economy * Bank fines * U.K. data miss, and misstated * Markets rise * India holds, China fx reserves fall

US Open – ZH
Longest Winning Streak For Global Stocks Since September On Monte Paschi Bailout Hopes, ECB Optimism
  
Frontrunning – ZH

FX Update – TF
The US dollar has shown signs of firming again particularly against the yen and sterling and despite the blowup in EURUSD that started the week. But the key test for the currency doesn’t arrive until next Wednesday’s FOMC meeting while the euro’s key test arrives with tomorrow’s ECB meeting.



FINNISH
Aamukatsaus – Nordea
Huomio edelleen Italiassa: Italian parlamentti hyväksyy vuoden 2017 budjetin * Odotamme Saksan teollisuustuotannon kasvaneen lokakuussa * Öljyn hinta laski huipputasoilta