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Thursday, December 13

13th Dec -. ECB's "Mission Accomplished"




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EUROPE
Italian Prime Minister Confirms Cut To Budget-Deficit ProposalZH

Italy’s Budget Pledge Is Just Cosmetic BB
Investors shouldn’t celebrate too soon. The 2.4 percent deficit target wasn’t the worst thing about the populists’ budget. The details matter.


  EUROPEAN CENTRAL BANK
Monetary policy decisions ECB
Introductory statement to the press conference ECB
Technical parameters:  reinvestment of asset purchase programme ECB

ECB: still broadly confident, but caution increasingPictet
First rate hike still expected in September 2019, although downside risks are growing.

ECB Watch: The ECB’s blind spotNordea
The ECB tried to retain confidence that its current path remains valid, but financial markets paid more attention to the shifting risk picture. The ECB is not in any urgency to change its plans. The reinvestment details were not good news for Italy.

ECB Confirms It Will End Asset Purchases, Will Reinvest Maturities In FullZH

Draghi Warns Of "Downside Risks"; Cuts GDP, Inflation Forecasts ZH

Flash ECB Review: Hopeful - not confidentDanske Bank

ECB: From autopilot to driving by sightING
The end of net quantitative easing by year-end marks the end of the ECB's autopilot. Now the central bank is fully back to being data-dependent

Eurozone: It’s the end of QE as we know it (and it is here)ING
The ECB just announced that monthly net QE purchase will be reduced to zero by the end of the month


UNITED STATES
2019 US credit outlook Pictet
The reversal of accommodative lending conditions and rising volatility mean we will stick to quality.


OTHER
Multi-Billion Hedge Fund Reports Record Loss, Shocking Outflows, Mass LayoffsZH


REGULARS

EU Open Rundown RANsquawk

Brussels Edition Daily BB

Brussels Briefing FT
Summit agenda includes forays into migration, eurozone reform, and Russia sanctions

Eco Day EuropeBB
Central Bank Super Thursday, Autonomy, China's Goals * ECB’s Draghi reaches end of the road for bond buying era * China plan annual economic policy meeting Dec. 19-21

FirstFT Daily Briefing FT

Danske DailyDanske Bank

Daily Market Comment Marc Chandler
May Survives but its Draghi's Day

Brussels Playbook Politico
Theresa May clings on — No escaping Brexit — Europe spooks Google

Five Things You Need to Know to Start Your Day BB

US OpenZH
Rally Fizzles: Europe, US Turn Red After Warnings From ECB, PBOC

US Open Rundown RANsquawk

Aamukatsaus Nordea
Tänään katseet kiinnittyvät EKP:n kokoukseen, uusia elvytystoimia ei tulossa tässä vaiheessa | Myös Sveitsin, Norjan ja Turkin keskuspankit kokoustavat tänään | May voitti konservatiivipuolueen luottamusäänestyksen, punta vahvistui