EUROPE
Italian Economic
Growth Slows to Weakest in Almost Two Years – BB
Populist
government will work out budget in September * Euro-area growth slowed to 0.3%,
inflation picked up
Trade worries slow
growth in second-quarter, inflation up on energy – Reuters
Euro-Area Economy
Gets Higher Inflation But Weaker Growth – BB
GDP
rose 0.3% in second quarter, just below median forecast * Consumer-price growth
above 2% for first time since 2012
Eurozone GDP
growth weakens further, inflation higher to 2.1% - ING
The
Eurozone economy grew by just 0.3% QoQ in the second quarter with inflation
increasing to above 2%. Any “behind the curve” thoughts that may have surfaced
earlier this year can be parked
Hopes of higher
inflation dented by weaker growth – Nordea
Disappointing
GDP data will test the ECB’s optimism that weaker growth is temporary,but
higher core inflation kept up hopes of a gradual pick-up in price pressures. We
still find price pressures muted and see the ECB on hold on rates for a long
time.
OTHER
Kuroda Tries To
Pull Off A "Draghi" As He Tweaks Monetary Policy, Fails – ZH
Correction Worse
Than February Is Looming, Morgan Stanley Says – BB
Cyclical
stocks fall behind despite strong earnings support * Tech-stock pain is just
the start of more losses, bank says
Morgan Stanley:
"The Selling Has Just Begun; This Correction Will Be The Biggest Since
February"
– ZH
REGULARS
EU Open Rundown – RANsquawk
FirstFT Daily
Briefing
– FT
WSJ City – WSJ
Profits
Leap at Credit Suisse and BP, BOJ Sticks to Ultra-Easy Policy
WSJ Economics – WSJ
China
Signals Slower Growth, Europe’s Economy Sputters
Danske Daily – Danske
Bank
Daily Market
Comment
– Marc
Chandler
BOJ
Prepares for QE Infinity
Brussels Playbook – Politico
Death
by a thousand cuts — What presidents are reading — Go full Orbán
Five Things You
Need to Know to Start Your Day – BB
US Open – ZH
Futures
Rise As Traders Digest Data Deluge After Tech Rout; Fed Looms
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