EUROPE
Euro Summit: Baby
steps on eurozone reform – ING
Eurozone
government leaders signed off finance ministers’ proposals for future eurozone
reforms. There is some progress, a eurozone budget is even still alive, but the
window of opportunity is clearly closing
Macron's
Popularity Slides Despite Yellow Vest Concessions – BB
Disarray in Europe
and U.S. Leaves a Hole Where ‘the West’ Was – BB
Trump,
Brexit, ‘Gilets Jaunes,’ departing Merkel root causes * Leadership vacuum
‘messy’ for Middle East, lethal for Ukraine
UNITED STATES
Federal Reserve
December meeting preview – Pictet
Fed
is widely expected to increase the Fed funds target range by another 25 basis
points on 19 December, marking the fourth rate increase of 2018.
Bond Traders
Ponder Next Inversion as Fed Dots Take Center Stage – BB
Rate
hike seen as lock, so projected 2019 path may sway market * Latest forecasts
could deepen yield-curve inversion: BMO
Fed to Slow 2019
Rate Hikes Amid Downside Risks, Poll Shows – BB
Economist
expect officials will signal two hikes next year * Most see Fed dropping call
for ‘gradual increases’ by March
Fed preview: A
hike, but what next?
– ING
Market
tensions and tentative signs of softening growth won’t stop the Fed hiking
interest rates this week, but there is scepticism of the Fed’s prognosis of
three further hikes for 2019. Markets will be looking for signs of cracks in
the Fed’s position
OTHER
Trade war: Fear
versus facts –
ABN
AMRO
The
US has become much more hawkish on trade this year * China (tech) becoming a
key focus of US trade and investment actions * While only a small part of
global trade is affected so far, trade tensions have hit global business
confidence and contributed to a tightening of financial conditions. Impact on
global economy is relatively moderate so far as e.g. CNY depreciation and China
stimulus are cushioning factors. While there are certainly downside risks there
could also be winners, and it could accelerate China’s reforms. US-China
strategic competition probably inevitable: key is how to manage it
The Bulls Versus
Bears Guide to the World Economy in 2019 – BB
Trade
war, Italy, central banks and politics top worry lists * Optimists argue next
downturn will be shallow and manageable
China’s Made in
2025 Plan Is a Paper Tiger – BB
The
country’s a long way from achieving its targets; staying open to foreign
competition is a better way to climb the technology ladder.
China Confronts
Its Eternal Dilemma –
BB
With
pressure building for major stimulus, leaders must decide whether boosting
growth or controlling debt is more important.
REGULARS
EU
Open Rundown
– RANsquawk
Brussels
Edition Daily –
BB
Brussels
Briefing
– FT
Eco
Day Europe
– BB
Italy's Trimming Pledge, Americans Sour,
French Quiet * EU, Italian government move closer to agreement on spending * Poll
shows growing pessimism in U.S. on economic outlook
FirstFT
Daily Briefing –
FT
WSJ
Daily Economics
– WSJ
Danske
Daily –
Danske
Bank
Daily
Market Comment –
Marc
Chandler
Brussels
Playbook –
Politico
The Brexit road ahead — Leaders clinch
COP24 deal — End of Europe as we know it
Five
Things You Need to Know to Start Your Day – BB
US
Open
– ZH
Global Stock Rally Fizzles As Europe
Slammed By "Retail Apocalypse"
US
Open Rundown
– RANsquawk
Aamukatsaus – Nordea
Keskiviikkona
tulossa Fedin kokous: korkoa nostetaan ja korkopolkua alennetaan |
Keskuspankkien täyteisellä viikolla kokousvuorossa myös Riksbank sekä Englannin
ja Japanin keskuspankit| Euroalueen ostopäällikköindeksit jatkoivat laskuaan