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EUROPE
France and Germany call
for right to suspend EU passport-free area – Open Europe
Nail euro zone problems
first, fix institutions later, ministers say – Reuters
EUROPEAN
CENTRAL BANK
The Eurosystem’s asset
purchase programme and TARGET balances – ECB
Scenarios for QExit – Pictet
BANK OF
ENGLAND
Bank of England Can't
Afford to Mix Messages Anymore – BB
BOE Hawks May Be Aiming
For Reset, Not Lift Off – BB
Bank of England unlikely
to raise rates only once: Vlieghe – Reuters
One-Time BOE Dove Sees
Case for Imminent Rate Hike – BB
The Pound Surges to a
Post-Brexit High – BB
Pound Soars, Gilts Sell
Off as Bank of England Turns Increasingly Hawkish – WSJ
UNITED STATES
FEDERAL
RESERVE
December Fed hike close
to 50/50 as US inflation rises – TF
Tim Duy: Fed May Have
Too Much Faith in Inflation Forecasts – BB
Fed to announce QT and
still signal one more hike this year – Danske Bank
MACRO
DATA
Retail Sales Tumble, Worst
Since Jan 2016 As Online Sales Slump – ZH
Retail Sales decreased
0.2% in August – Bill McBride
U.S. retail sales post
biggest drop in six months – Reuters
U.S. Retail Sales Fall
After Weaker Results in Prior Months – BB
Industrial Production
Crashes Most Since May 2009 - Harvey Scapegoated – ZH
Industrial Production Decreased
0.9% in August – Bill McBride
U.S. industrial output,
sapped by Harvey, falls for first time since January – Reuters
U.S. Factory Output
Declines as Harvey Hits Refining, Chemicals – BB
UMich Consumer
Confidence Slides On Loss Of 'Hope' – ZH
OTHER
Why I Love Writing About
the Markets – Ben Carlson
Bank of Japan preview:
On hold as political uncertainty increases – Danske Bank
Yield Outlook - Central
banks gradually turning more hawkish – Danske Bank
FX Forecast Update: A
tale of three central-bank camps – Danske
Bank
REGULARS
There are signs this morning that the market is becoming a little more
conditioned to the provocations of North Korea with the indices neither rising
nor falling. However JPY was in the ascendant and South Korean stocks were hit
N Korea’s retaliation, closing in on cancer, Britain’s Irish question
North Korea Missile Tests Markets; Risks of Low Inflation
Strong US CPI, new missile launch has limited impact on the markets * CBR
to cut rates today * Sterling is off and away * North Korean spillover to rates
seems limited
Asia-Pacific equity markets were largely unruffled on Friday by North
Korea's second missile launch over Japan in less than three weeks. Meanwhile
the British pound extended gains in year-high territory after the Bank of
England sounded a hawkish note on Thursday. Higher-than-expected US CPI weighed
on Wall Street stocks on Thursday.
The Bank of England's surprisingly hawkish signals on Thursday sent
sterling higher. The rally was only aided by governor Mark Carney's comments
that he is preparing for a rate hike, and Saxo bank head of FX strategy John J
Hardy says that resistance at 1.35 looks soft.
Short Note Ahead of the Weekend
Orbán’s migration victory — Catalonia tensions — Juncker meets YouTubers
Markets Ignore North Korea Missile Launch; Send Pound Soaring, Yen
Tumbles
The market was caught the wrong way around on sterling when the Bank of
England stepped up its rate hike credibility, and the sterling rally may have
considerable room to run. Elsewhere, a reasonably strong US CPI failed to drive
much USD strength – a warning for bulls.
FINNISH
Venäjän
keskuspankki kokoustaa tänään | Pohjois-Korea teki ohjuskokeen,
markkinareaktiot vaisut | USA:n inflaatioluvut olivat odotuksia vahvemmat