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Thursday, October 26

26th Oct - ECB announces taper





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EUROPE
Nordic OutlookDanske Bank
Denmark: Economy close to full potential but still some distance from overheating * Sweden: Growth and house prices strong but inflation low and rate hikes not around the corner * Norway: Recovery to continue as private consumption and business investment take over from public spending and housing * Finland: Recovery steaming ahead, though growth lower in 2018

Catalan Brinkmanship Sets Stage for Spain to Seize ControlBB
Parliament in Barcelona convenes to prepare response * Senate begins two-day vote to strip Catalonia’s powers

  EUROPEAN CENTRAL BANK
Draghi Seeks Soft Landing for Stimulus as ECB Awaits Inflation – BB
El-Erian: What to Expect From the ECB Meeting – BB
ECB Preview: Here's What Draghi Will Announce On Thursday – ZH
ECB to curb bond-buying in first step toward end of easy money – Reuters
Italy faces worst shock in Europe as ECB prepares to taper bond buys – MarketWatch
ECB Will Avoid A Taper Tantrum Today, But It's Running Low On Ammunition – ZH

Monetary policy decisions – ECB
Additional information on asset purchase programme – ECB
Introductory statement to the press conference – ECB

Dovish €30 Billion QE Through September 2018 "Or Beyond"; Euro Tumbles – ZH
ECB Plans to Reduce QE Purchases to 30 Billion Euros a Month – BB
ECB instant view: A dovish “recalibration” – Nordea
ECB starts gentle exit from QE – ING
ECB Takes a Cautious Step - A Little Too Cautious – BB
ECB monetary policy: bending it like Draghi – Pictet
ECB signals prolonged monetary stimulus – ABN AMRO
ECB review: Slow inflation requires slow exit – Nordea
ECB Review: ECB opts for 'lower-for-longer' QE extension – Danske Bank


UNITED STATES
Yellen Wonders If Fed Inflation Credibility Dented on Her WatchBB
Fed chief sees some evidence inflation expectations slipped * Yellen though still thinks they’re anchored at 2 percent

Trump Decides Against Gary Cohn for Fed ChairBB
President said to want Cohn in White House for tax fight * Economic adviser said to be likely to leave after tax overhaul


OTHER
Trump's Magical Market Mystery TourBB
It's tough to pin down what's driving the bull and even harder to figure out what will make it stop.

Machine learning the marketFT

Monthly Commodity Update  ABN AMRO
A consolidation in Q4, but a rally in 2018


REGULARS
FirstFT Daily BriefingFT
China the soft superpower, tax hopes for US expats, Russia’s next revolution

WSJ City WSJ
Deutsche and Barclays See Sales Fall, Profits Rise; ECB Set to Pare Stimulus

Danske DailyDanske Bank

Eye-OpenerNordea
ECB taper time - Riksbank and Norges Bank to remain on hold * US Treasuries pared losses after 10Y yield hit highest level since March * Scandi-currencies remain under pressure

Morning MarketsTF
The euro is holding on to overnight gains ahead of today's ECB meeting as investors hope for a timetable for the dismantling of Europe's €2.1 trillion asset purchase programme. Elsewhere gold is higher and bond yields lower after sentiment turned sour in Asian trading.

Daily Market CommentMarc Chandler
Draghi's Day

Brussels PlaybookPolitico
Glyphodrama — UK is ‘screwed’ — Harassment fallout

Five Things You Need to Know to Start Your DayBB

US OpenZH
Traders Paralyzed, Markets Flat Ahead Of Today's Main Event: The ECB's Taper Announcement


FINNISH
AamukatsausNordea
EKP päättää osto-ohjelman supistamisesta tänään | Myös Ruotsin ja Norjan keskuspankit kokoustavat | Saksan Ifo-indeksi nousi ennätyslukemiin

Työperäisen maahanmuuton saatavuusharkinnastaValtteri Aaltonen