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EUROPE
Was German undercutting deliberate? – Simon
Wren-Lewis
Is Grexit Back on the Table? – Marc Chandler
EZ internal devaluations and negative demand
spillovers – vox
If pursued by several
countries, wage moderation can work if monetary policy is not constrained by
the zero lower bound, or if supported by quantitative easing. Without
sufficient monetary accommodation, it will not deliver much of a boost to
output, and may hurt overall EZ output.
EUROPEAN
CENTRAL BANK
Time for caution on the
euro – Macro
Man
Survey on the Access to
Finance of Enterprises in the euro area – ECB
Inflation unchanged and
core rate down ahead of ECB meeting – Nordea
Lower core inflation
supports aggressive ECB easing tomorrow – Danske
Bank
Currency wars
everywhere, euro and underwhelming excess reserves edition – FT
5 Questions About the
ECB’s Thursday Meeting – WSJ
How to Trade the ECB
Meeting: ‘Cash Is a Position, Too’ – WSJ
Maybe less is more,
Mario: Koefoed – TF
QE and public investment
– Paul
De Grauwe
An ECB rates scenario
guide – FT
UNITED STATES
Why Business Investment
Is Slumping in Five Charts
– WSJ
Janet Yellen Looks Like a Central Banker Ready
to Raise Rates – WSJ
REGULARS
Morning MoneyBeat Asia – WSJ
U.S. Stocks Open December With a
Rally
Morning MoneyBeat Europe – WSJ
Stocks Edge Higher; Inflation Ahead
Morning MoneyBeat US – WSJ
The Gift That Should Keep on Giving
This Year
Danske Daily – Danske
Bank
Global Daily – ABN AMRO
Euro rates update – Nordea
Eye-Opener – Nordea
Lower bond yields and EUR/USD at
1.06 as ECB day is approaching * Euro-area inflation to edge up * Sharp drop in
the ISM sends yields lower…and also the USD
Morning Markets – TF
A really bad miss in the
US ISM manufacturing print will have propelled the US Federal Reserve yet
further towards a gradual approach on interest-rate hikes with December still
the best bet for liftoff but a possible delay to the second round of hikes. The
dollar's stayed relatively buoyant despite that nasty report.
Daily FX Comment – Marc
Chandler
The Wait is Nearly Over, and the
Dollar Catches a Bid
Daily Shot – TF
Fresh signs of strength in the
European labour market make the European Central Bank's decision about whether
to ease more difficult as Eurozone unemployment is near a four-year low.
Daily Press Summary – Open
Europe
Government not preparing
a Brexit contingency plan, Osborne tells MPs * New poll suggests Danes could
reject closer EU justice and home affairs integration * Greece threatened with
suspension from Schengen * Germany pressures Commission to reach economic
accord with Moscow to assuage Russian concerns about EU-Ukraine trade deal * Hollande’s
popularity rebounds after Paris attacks * Greece on tight deadline to approve
new list of measures needed to unlock bailout cash * Volkswagen lobbied to ease
new EU car emission tests
Brussels Playbook – Politico
Fighting ISIL — POLITICO
28 — COP21
US Open – ZH
European Stocks Jump As
Inflation Disappoints, US Futures Flat Ahead Of Yellen Speech
Frontrunning – ZH
The US dollar managed to survive the
worst ISM manufacturing survey reading since 2009 as traders prefer to focus on
the services side of the economy and upcoming jobs numbers. Fed chief Janet
Yellen is also out speaking today.
Investors are refining
their positions ahead of this week and month's crucial central bank meetings
and event risks but there is a chance that even the most clear-cut narratives
have become overbought even before the headlines roll in.
FINNISH
Brasilian
syöksy loppuu ensi vuonna * Euroalueella työllisyystilanne kohenee * USA:n
teollisuuden luottamus heikkeni selvästi * Inflaatio kiihtymään päin
euroalueella
Perussuomalaiset
panttivankeina –
Jukka
Hankamäki
Illuusio yhteisvaluutasta ilman yhteisvastuuta – Roger
Wessman
Suomen on siirryttävä
eurosta markkaan – Professorin
ajatuksia