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EUROPE
ESPIRITO SANTO
Espirito
Santo Family’s Swift Fall From Grace Jolts Portugal – BB
Banco
Espirito Santo Plunges 20% As Goldman Cuts Stake – ZH
Espirito
Santo Stock Suspended After 40% Crash, "Pending Information" – ZH
UKRAINE / RUSSIA
The EU’s
Russian sanction: legal basis and how they will work in practice – Europp
/ LSE
Russian
crisis already taking toll on western businesses – FT
The
emergency exit's this way Vladimir – TradingFloor
Why Putin
Has 2006 Flash Before His Eyes After Sanctions – BB
Russia has reserves to ride out sanctions -
assuming no panic – Reuters
Europe’s Russian Connections – iMFdirect
http://blog-imfdirect.imf.org/2014/08/01/europes-russian-connections
MACRO NUMBERS
U.K. Manufacturing Grows at Slowest Pace
in a Year – BB
Italy Manufacturing at Eight-Month Low as
Growth Momentum Ebbs – BB
UNITED STATES
FEDERAL RESERVE
Plosser
Says Fed ‘Well Behind’ on Rate Setting – WSJ
Fed's
Fisher, Plosser push for earlier rate hike – Reuters
Plosser
Joins Fed Dissenters in Taking Losing Arguments Public – BB
Jobs data
bolsters Yellen's argument on labor market slack – Reuters
No-Exit
Strategy May Be Fed’s Burden as Record Stimulus Unwinds – BB
JULY EMPLOYMENT REPORT
Nonfarm
payrolls preview: back to trend – TradingFloor
U.S. job
growth seen slowing, but remaining solid in July – Reuters
209K, Below
Estimate; Unemployment Rises To 6.2%; Wage Growth Below Estimate – ZH
It’s Jobs
Day. Here’s What Yellen, the White House and Others Will Look For – WSJ
Economy adds
209,000 jobs in July; unemployment rate edges up to 6.2 percent – WaPo
Nonfarm
payrolls miss, but FOMC still behind the curve – TradingFloor
209,000
Jobs, 6.2% Unemployment Rate – Calculated
Risk
Comments on
Employment Report – Calculated
Risk
July
Employment Report – Tim
Duy’s Fed Watch
Jobs
Report: Everything You Need to Know – WSJ
Muted
Market Reaction to Job Data Disappointment – Marc
to Market
July’s
Employment Report – The Numbers – WSJ
209K New
Nonfarm Jobs, Unemployment Rate Rises to 6.2% - dshort
Unemployment
Rate Was Higher, but Employment Rate Held Steady – WSJ
Economists
React to July’s Jobs Report: ‘Not Weak, But…’ – WSJ
Report
confirms decent job growth, low wage pressure, plenty of slack – Danske
Bank
5 Takeaways
from the July Jobs Report – WSJ
Jobs Report
Shows High-Wage Sectors Finally Digging Out – WSJ
Factory
Jobs Still Falling Short of President’s Goal – WSJ
Why So Few
People Are “Marginally Attached” to the Labor Force – WSJ
U.S. job growth cools, unemployment rate
rises – Reuters
MACRO NUMBERS
Consumer
Spending Rose By Most In 3 Months Driven By Higher Energy Costs – ZH
PCE Price
Index: Headline and Core Little Changed, Remain Below Target – dshort
U.S. consumer spending rises, inflation
pressures muted – Reuters
US
Manufacturing PMI Misses By Most In 11 Months – ZH
U.S. factory activity expands in July,
pace slows: Markit – Reuters
ISM
Manufacturing Surges To 3 Year Highs, Construction Spending Plunges – ZH
ISM
manufacturing jumps to 39-month high of 57.1 in July – TradingFloor
ISM Manufacturing index increased in
July to 57.1 – Calculated
Risk
ISM
Manufacturing Hits a Three Year High – Bespoke
ISM
Manufacturing Index: Moderate Growth Continues – dshort
Strong ISM
report reflects consumer strength - slight moderation in H2 – Danske
Bank
American
Factories Expand at Fastest Pace in Three Years – BB
Final July
Consumer Sentiment at 81.8 – Calculated
Risk
Consumer
sentiment dips in July – Reuters
July
Michigan Consumer Sentiment at Four-Month Low – dshort
Construction
Spending decreased in June – Calculated
Risk
ASIA
Chinese
Yuan Surges & Stocks Jump To 2014 Highs After PBOC Unleashes QE – ZH
BofA
believes 3 factors are at play here: China, US growth, the end of the
carry-trade
Abenomics
Charm Fades as Yields Signal Headwinds – BB
BOJ
Beat: Hollowing-Out of Car Manufacturing Weighs on Exports – WSJ
MACRO NUMBERS
Economists
React: China’s Manufacturers On A Roll – WSJ
Chinese PMI
manufacturing hits 27-month high in July – TradingFloor
China's
factories spring to life as global trade reawakens – Reuters
China
Manufacturing Gauge Rises to Two-Year High – BB
Great
Graphic: Asian PMIs – Marc
to Market
OTHER
Daily
Macro – WSJ
Thursday’s
heavy selloff on Wall Street and the global unwind of risky bets that followed
it underscored how vulnerable global markets are to any sign, however small,
that the Federal Reserve might be moving closer to raising rates. The mere hint
that years of easy money are coming to an end can translate into a very nervous
response. And so we go into Friday’s all-important jobs report with the uneasy
sense that the market might now be looking to read goods news – in the form of
strong jobs growth, lower unemployment and potentially higher wage earnings –
as bad news, as a sign that the Fed will have to accelerate an exit from its
zero interest rate policy.
Daily
Central Banks – WSJ
Hilsenrath’s
Take: Plosser Puts”Considerable Time” In Play for Fed Rate Hike Plans * Asset
Managers May Avoid Fed Oversight * “Too
Big to Fail” Report Hedges on Big Banks’ Funding Edge * BOJ Beat: Hollowing-Out
of Car Manufacturing Weighs on Exports * Hong Kong Ramps Up Intervention to
Curb Local Currency
PMI and
Jobs as Stocks and Bonds Move Lower – Marc
to Market