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Thursday, December 14

14th Dec - ECB sits



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EUROPE
Sweden’s Housing Slump Is Getting WorseBB
HOX index slides on annual basis for first time since 2012 * Housing market turmoil is spurring concerns about economy

Prospect of Italian Election Crushes Italian BondsMarc Chandler

FT Survey: Banks' Brexit Relocations By March 2019 Much Lower Than FearedZH

Pound Slides After BOE Holds Rates: Warns Q4 Economy "Slightly Softer", Sees "Gradual And Limited" Rate HikesZH

Euro wrap-upDaiwa
Bunds were little changed as the ECB left its forward guidance intact and inflation forecasts little changed despite a firmer GDP growth outlook * Despite some stronger-than-expected UK retail sales numbers, Gilts made gains as the BoE saw no urgency to tighten policy further * Friday will see EU27 leaders agree next steps for Brexit, while the latest euro area trade report is due

  EUROPEAN CENTRAL BANK
Monetary policy decisions – ECB
Introductory statement to the press conference – ECB
Eurosystem staff macroeconomic projections for the euro area, December 2017 – ECB
Changes to collateral eligibility criteria for unsecured bank bonds – ECB
ECB Keeps Policy Unchanged as Investors Seek Economic Update – BB
ECB keeps easy money pledge despite big growth upgrade – Reuters
ECB Sees Policy Stance "Contributing To Favorable Liquidity Conditions" – ZH
ECB Unveils New, Higher Inflation Forecasts; Pushes Bund Yields Higher – ZH
ECB: Overly confident – Nordea
ECB Says Little and Does Less – Marc Chandler
ECB sees weak inflation despite upgrades to growth – ABN AMRO

  ECONOMIC DATA
Flash Eurozone Composite PMI – Markit
Flash Germany Composite PMI – Markit
Flash France Composite PMI – Markit
Euro area Flash PMIs: The sky is the limit – Pictet


UNITED STATES
Corporate Tax Reforms Will Lead to International Tax BattlesPIIE
With its plan to reduce the corporate tax rate and enact temporary expensing of capital outlays, Congress is poised to put US firms on a better competitive footing than many of their rivals based in Europe, Japan, and other advanced countries.

  FEDERAL RESERVE
Fed sticks to Fed rate hike view – ABN AMRO
Fed review: Fed’s enthusiasm on tax cut plans remains limited – Pictet
Yellen's Swan Song: Few Surprises – Marc Chandler
FOMC more optimistic on economy; modest shift in policy outlook – Daiwa

  ECONOMIC DATA
Retail Sales Surge At Fastest Pace Since 2012 As Online Sales Soar – ZH
U.S. retail sales surge; weekly jobless claims fall – Reuters
Retail sales: broad-based increase; suggestive of strong holiday shopping – Daiwa

Flash US Composite PMI – Markit
Services Economy Slumps To 15-Month Low, Manufacturing Rebounds – ZH


  MARKETS / OTHER
China Factory Output, Investment Slow While Consumption FirmsBB

Financials Outlook 2018ABN AMRO
Fundamentals to trump the QE slowdown

Yield OutlookDanske Bank
Central bank exit but only modestly higher long yields

Jim Simons, the Numbers KingThe New Yorker
Algorithms made him a Wall Street billionaire. His new research center helps scientists mine data for the common good.


REGULARS
FirstFT Daily BriefingFT
Tory Brexit rebellion, WTO stalemate, ‘Weinstein is my monster’

WSJ CityWSJ
ECB Watchers Eye Change of Tone, May Heads to Brussels After Brexit Defeat

“Best of the web” daily chartsLukas Daalder

Danske DailyDanske Bank

Eye-OpenerNordea
Fed as expected, Draghi up next - huge central bank day! * Italian yields rise on election prospects * USD weaker on Fed and soft CPI figures

Daily Market Comment Marc Chandler
US Rates Bounce Back, but Dollar, Hardly

Brussels PlaybookPolitico
Summit today — EU national power ranking — Malmström blasts trade failure

Five Things You Need to Know to Start Your DayBB

US OpenZH
Central Bank Bonanza Day: European Stocks Slide Ahead Of ECB; S&P Futs Hit Record High

FrontrunningZH
  

FINNISH
AamukatsausNordea
EKP tarjoilee lisätietoa osto-ohjelmasta * Fedin kokous ei tuonut yllätyksiä * Dollari heikkeni euroa vastaan * Useat keskuspankit kokoustavat tänään

Finland : 2017 Article IV ConsultationIMF