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EUROPE
BUDGETS
Cameron
defies €2.1bn EU surcharge – FT
EU Summit: Renzi
vs Barroso over EU’s budget letter – FT
Renzi Says
Secrecy Must End as EU Leaders Debate Spending – BB
BANK TESTS
European
banking stress tests — pour encourager les autres? – Medium
For some
European banks, Monday can’t come soon enough – FT
Monday
mayhem to follow ECB stress test news – TradingFloor
The results
of the ECB's Comprehensive Assessment will be published this weekend. The ECB
will be damned if it finds too many problem banks and damned if it doesn't. The
safest bet is a compromise between the two. There are doubts about the ability
of the bank to fulfil its multiple roles, given the conflicts of interests that
this involves.
ECB Set
to Fail 25 Banks in Review, Draft Document Shows – BB
Twenty-five
lenders in the European Central Bank’s euro-area bank health check are set to
fail the regulator’s Comprehensive Assessment, according to a draft communique
of the final results,
Deutsche
Bank Said to Have Passed ECB Stress Test – BB
The bank’s
common equity Tier 1 ratio, a key measure of financial strength, will be shown
to stand at about 8.8 percent under the ECB’s most severe stress-test scenario
and at about 12.6 percent in the baseline scenario,
EUROPEAN CENTRAL BANK
ECB may
struggle to buy enough corporate bonds – Reuters
Any
extension of the European Central Bank's asset-purchase scheme to include
company debt risks running into a familiar problem - the ECB may not being able
to buy enough of them to make a difference.
ECB's
Draghi tells euro zone more needed to avoid another crisis – Reuters
France and Italy renewed their commitment to reform
their economies on Friday in the hope of winning more time to bring their
public finances in order but the ECB's president warned more needed to be done
to avoid "a relapse into recession".
Draghi: Economic
situation in the euro area – ECB
ECB's
Draghi urges joint euro zone effort to avert recession – Reuters
Draghi
urged euro zone leaders at a summit on Friday to make a joint effort combining
structural reforms, investment, budget discipline and stimulating demand to
avoid "a relapse into recession".
Merkel
voices support for Draghi after report of tensions – Reuters
German
Chancellor Angela Merkel thanked ECB President Mario Draghi for spelling out to
leaders at an EU summit that governments must play a role in boosting the
faltering euro zone economy, and said it was their firm intention to do so.
MACRO NUMBERS
UK GDP
climbs 0.7% in Q3 as expected – TradingFloor
U.K. Growth Slows as Obstacles to
Recovery Increase – BB
German
consumer confidence rebounds from 2-month low – TradingFloor
UNITED STATES
MACRO NUMBERS
New Home
Sales Miss, August Drastically Revised Lower – ZH
The Housing
Recovery Has Been Canceled Due To Data Revisions – ZH
New Home
Sales increased slightly to 467,000 Annual Rate in September – Calculated
Risk
Sales of
New Homes Worse Than Most Years in 1980s, 1990s – WSJ
New-Home
Sales Rose Last Month. Or Maybe They Fell. We Don’t Really Know. – WSJ
U.S. new home sales at six-year high;
recovery still fragile – Reuters
OTHER
Daily
Macro – WSJ
Markets
Seem Calmer, But New Anxieties Arise
Daily
Central Banks – WSJ
Blackstone’s
Take: ECB Hopes Its Credibility Can End Europe’s Banking Stress * Fed’s 2015
Stress Test Scenario Looks at Exposure to Corporate Debt * ECB Struggles as
Eurozone Businesses Cutting Prices * BOJ Sees Bigger Chance of Fall in CPI
Below 1% * U.K. Economic Growth Slows in Third Quarter
FINNISH
Kuka maksaa koulutuksen? – Matti
Viren / KL
Yrittäjät: Talouspolitiikkaan tarvitaan iso muutos – Verkkouutiset
Onko Suomessa finanssipolitiikka elvyttävää? – Roger
Wessman
Juhana Vartiaisen Valtiovarainvaliokunnan esitys – VATT
Vähittäiskaupan pikaennakko: myynti pysyi edellisvuoden
tasolla syyskuussa – Tilastokeskus
Teollisuuden tuottajahinnat -0,3% syyskuussa YoY – Tilastokeskus
Palvelujen tuottajahinnat +1,1% heinä-syysk. YoY – Tilastokeskus