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EUROPE
Hans-Werner Sinn:
Europe’s Military Force – Project
Syndicate
After
two years of US President Donald Trump treating European allies as if they were
adversaries, France and Germany have finally committed to the creation of an
EU-wide army under a central command. Far from signaling a break from the
transatlantic order, the move promises to shore up existing alliances for the
long term.
A
look back: what Eurozone “risk sharing” actually meant – FT
ITALY
Brussels says Italy should face sanctions over budget – FT
EU
Rejects Italy's Budget, Paves Way For Sanctions – ZH
EU
Takes First Step Toward Fining Italy on Budget – BB
OTHER
The Stocks Rout Is
Big, But Not Big Like The Beatles – BB
The
last two bear markets seem to have tainted our collective reference points,
although it’s clear that the current downdraft has further to go.
The Stock Market
Is Even Worse Than You Think It Is – BB
The
P/E ratio of the S&P 500, based on the next 12 months of earnings, is down
17 percent this year.
BofA Expects
Stocks To Peak In 2018, Drop In 2019 – ZH
Anti-protectionism
pledge missing from draft G20 statement – FT
Communiqué
being negotiated before summit uses softer language than previous years
CHINA
America’s Secret
Weapon Against China: Democracy – BB
Tyrannical
states can move fast. Free states always win in the end.
Beijing to Judge
Every Resident Based on Behavior by End of 2020 – BB
China
capital plans ‘social credit’ system by end of 2020 * Citizens with poor scores
will be ‘unable to move’ a step
Navarro ‘excluded
from Xi Jinping-Donald Trump dinner’ – SCMP
Beijing
and Washington are still in the process of finalising guest list for the
high-stakes meeting in Buenos Aires, according to source * Outspoken China hawk
Navarro is a key figure behind the trade war
OECD OUTLOOK
OECD
Economic Outlook – OECD
Global
growth is slowing amid rising trade and financial risks – OECD
Trade
war risks taking heavy toll on growth: OECD – FT
REGULARS
EU
Open Rundown
– RANsquawk
Brussels
Briefing
– FT
Italy’s excessive deficit is no worry for
markets — yet. Borrowing costs have climbed, but ‘lo spread’ isn’t blowing up
to crisis levels
Eco
Day Europe
– BB
FirstFT
Daily Briefing –
FT
WSJ
Daily Economics
– WSJ
Danske
Daily
– Danske
Bank
Oil plunge, stock plunge
Daily
Market Comment
– Marc
Chandler
A Semblance of Stability Returns
Brussels
Playbook –
Politico
The grinch who stole Christmas — Good news
for Greece — Oettinger on Italy
Five
Things You Need to Know to Start Your Day – BB
Eco
Day US
– BB
US
Open
– ZH
Futures Jump, Dollar Slides After Report
Fed May End Hikes As Early As Spring
US
Open Rundown
– RANsquawk
Aamukatsaus – Nordea
Katseet
kiinnittyvät Italian budjettiprosessiin, Euroopan komissio antaa lausunnon
budjettiesityksestä | Suomen työllisyyskehitys hidastumassa, Carney ilmaisi
tukensa Mayn Brexit-sopimusluonnokselle | Öljyn hinta laski eilen lähes 7
prosentilla