Deutsche Bank Sees
Commerzbank Merger by Mid-Year – BB
Executives
are said to worry bank is running out of time * CEO Christian Sewing has
pleaded for patience with his plan
Deutsche Bank
Merger Looks Real, and It’s Scary – BB
Three
questions the bank needs to answer before any Commerzbank tie-up.
Euro area:
Recession creeping in from the South – Nordea
The
Euro-area economy seems to be stuck at a low gear, and latest confidence data
do not signal any quick turnaround. The Italian economy is back in recession,
while the French and Spanish economies offer some hope.
Eurozone: No
bounce back in GDP
– ING
GDP
growth of just 0.2% quarter-on-quarter in the final quarter of 2018 confirms
the slow growth environment that the eurozone has slipped into and there does
not seem to be an easy way out as downside risks persist in early 2019
Italy Officially
Slides Into Recession After Budget Battle With Brussels – ZH
Italy’s faltering
economy to test populists’ plans – FT
Recession
feared but government insists spending can correct years of anaemic growth
Italy Caps
Tumultuous Year With First Recession Since 2013 – BB
Euro
area’s third-biggest economy shrinks for second quarter * Disappointing figures
will put pressure on coalition in Rome
Italy entered
technical recession in 4Q18 – ING
This
was not surprising, on the back of available evidence. As chances of a swift
exit from recession in 1Q19 now look slim, we revise our forecast for average
2019 Italian GDP growth to 0.2%
UNITED STATES
FEDERAL RESERVE
The Fed is done – ABN
AMRO
Surprise
pivot to a neutral policy outlook * Likely an earlier end to the balance sheet
run-off, but a high bar to use it as a policy tool?
FOMC: market
friendly; possibly finished tightening – Daiwa
At
the very least, the new information suggests a long pause in the tightening
process; one could
reasonably
argue that the tightening cycle could be over.
Review of the
Federal reserve’s January meeting – Pictet
Dovishness
was on full display at the Fed meeting on 30 January.
Federal Reserve’s
‘momentous’ U-turn prompts puzzlement – FT
US
central bank faces criticism for bending to market pressure over rates guidance
OTHER
Two Brinkmanship
Games and a Possible Third – Marc
Chandler
UK
government vs EU and the House of Commons * US and Chinese trade talks * Russia
and China vs US over Venezuela
REGULARS
Five Things to
Start Your Day Asia
– BB
Eco Day Asia – BB
Fed
Buckles to Markets, Trade Talks Begin, N.Z. Shrinks * Top Japanese currency
official opposes clause in any U.S. deal * Preview of first readings of
Spanish, Italian, euro-area GDP
EU Open Rundown – RANsquawk
FirstFT Daily
Briefing –
FT
Brussels Briefing – FT
An
unlikely alliance of the EU’s fringe parties - MEPs will vote on whether to
give themselves the power to break up bogus groups
Brussels Edition – BB
Brussels Playbook – Politico
Berlin’s
got 99 problems and a jet is one — Brexit car crash — Holocaust remembered
Fed's
Buckle, Europe's GDP, Japan's Stance on Yen * Japan yen chief signals
opposition to clause in any U.S. deal * Preview of first readings of Spanish,
Italian, euro-area GDP
Daily Market
Comment
– Marc
Chandler
Did
Powell Toss in the Towel or was it a Tactical Retreat?
Five Things to
Start Your Day US
– BB
US Open Rundown – RANsquawk
US Open – ZH
Global
Stock Rally Fades After Italy Slides Into Recession
Eco Day US – BB
Fed
Pause, Europe Looks Sluggish, Trump Trade Talks * Fed’s dovish pivot flattens
remaining rate-hike expectations * Europe’s economy scarred by Italian
recession as risks pile up
FINNISH
Aamukatsaus – Nordea
Fed pysäytti koronnostot tältä erää, dollari heikentyi |
Euroalueelta saadaan tänään alustavat BKT-luvut neljänneltä vuosineljännekseltä
| Euroalueen talouselämän luottamus laskussa, Kiinan teollisuuden näkymät yhä
negatiiviset