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EUROPE
European press reflects – Open Europe
A sense of vulnerability after a bruising week for free trade and
liberalism in the EU
EC Pushes Back on (8) Draft Budgets – Marc Chandler
EU finance ministers tussle over importance of fiscal rules – Politico
Bad News for European Corporate Bonds – BB
Stephen Pope: Europe's
banks need bullying by Basel – TF
UNITED KINGDOM
Bitesize: Periodicity of GBP/USD trading activities – BOE
Bitesize: Periodicity of GBP/USD trading activities – BOE
Bank of England's Mark Carney Prepares His Own Brexit – View / BB
Pound
Spurred by Fear of the Future Shrugs Off Good News – BB
BOE
to Forge Ahead With Gilt Buying Strategy, Deutsche Bank Says – BB
EUROPEAN CENTRAL BANK
ECB's Headaches – Danske Bank
ECB Stimulus Champions Signal QE to Endure as Economy Heals – BB
MACRO NUMBERS
First GDP numbers for Q3 – moderate growth – Nordea
French Stop-Start Recovery Can’t Compete With Spanish Growth – BB
Taking stock of the latest European GDP numbers – Pictet
Euro zone economic sentiment jumps in October – Reuters
UNITED STATES
MACRO NUMBERS
U.S. labor costs increase 0.6 percent in third quarter – Reuters
Worker Compensation +0.6%
for Third Straight Quarter – BB
Exports boost Q3 growth;
consumer spending slows – Reuters
Growth Rebounds on Boost
From Exports, Inventories – BB
Q3 GDP At A Glance – WSJ
Real GDP increased at 2.9% Annualized Rate in Q3 – Bill McBride
Higher Inventory, Exports * Weak Consumption, Investment – ZH
Economists React: ‘The U.S. Is Roughly on Track’ – WSJ
Q3 GDP: Investment – Bill McBride
GDP Takeaways: More Soybeans, Less Spending – WSJ
Strong U.S. GDP report conceals softness of some components – Pictet
US Consumer Confidence Crashes To 2 Year Lows – ZH
October Consumer Sentiment declines to 87.2 – Bill McBride
ELECTIONS
Trump gains, but Clinton remains most likely winner – Danske Bank
Steen Jakobsen: Why things came to this – TF
Dembik Christopher: Europe not ready for next president – TF
OTHER
Jan von Gerich: Bonds -
Reaching for the stars or dead cat bounce? – Nordea
Inflation worries are finally making a comeback. Coupled with some
concerns of near-term ECB tapering and better economic data they make a
dangerous cocktail for bonds. While the risks of a bigger sell-off should by no
means be ignored, a gradual stabilization followed by a renewed fall in yields
still looks more likely before the year is over. In the very near-term though,
yields may rise further.
Halloween in fixed income markets – FT
The FT's Katie Martin and Anthony Doyle of M&G discuss current fears
in the fixed income market, including negative yields, inflation growth and
emerging markets debt.
German Bonds in Worst Month Since 2013 as Global Selloff Deepens – BB
Investors Bail on Bonds
as Selloff Deepens – BB
These Are the Charts
That Scare Wall Street – BB
For finance professionals, Corporate America's credit cycle and the U.S.
economic outlook — not to mention Brexit-induced stresses and debt dynamics in
Asia — are all spookier than a deranged-looking Bozo.
Interview: Michael
Hayden – Playboy
Former NSA Boss Michael Hayden on Hillary’s Emails, Hacking and Russia
REGULARS
Danske Daily
– Danske
Bank
Eye-Opener
– Nordea
GDP day in the US and Europe * Strong
rise in long-term bond yields * SEK hit by Schrödinger’s cut
The US dollar is holding firm
against its peers after government bonds and other safe-haven assets took a
tumble on the perception that the global economy is steadying after a
protracted period of turbulence.
Euro wrap-up
– Daiwa
Daily Market Comment
– Marc
Chandler
Dollar Sidelined, Krona Stabilizes,
Rates Firm
Daily Market Comment
– Macro
Man
Fixed income: beginning of the trend
or beginning of the end?
Daily Press Summary
– Open
Europe
UK GDP growth beats expectations as
Nissan reiterates commitment to Sunderland plant * EU-Canada trade deal on
course for approval as Wallonia agrees to support the deal * Aberdeen Asset
Management boss says industry can cope with loss of EU passport * Second
referendum proposal ruled out by Swiss government * Deadline for Dutch decision
on EU-Ukraine Treaty today * Mundell: UK seeks bespoke deal to “maximise
involvement” in EU single market
Brussels Playbook
– Politico
CETA saga D-Day — Pirate takeover —
Russian Gas Leak
Five Things You Need to Know to Start Your Day – BB
Bond rout * UBS, RBS earnings * U.S. GDP * Stocks drop * OPEC meeting
US Open – ZH
Global Stocks Drop On Poor Earnings,
Bond "Bloodbath" Ahead Of US Q3 GDP
Frontrunning
– ZH
FX Update –
TF
USDJPY has pulled to new local highs
as global sovereign yields spiked higher yesterday. A further rise in yields
could mean significant room for USDJPY to run higher from here. Next week
offers a busy calendar ahead of the US presidential election the following
Tuesday.
From the Floor
– TF
FINNISH
USA:n BKT
perjantain valopilkku * Ruotsin keskuspankki piti ohjauskoron -0,50 prosentissa
* USA:n työvoimakustannusindeksi (ECI) pysynee edellisen neljänneksen tasolla *
Ranska ja Espanja julkistavat ensimmäisinä suurina euromaina kolmannen
neljänneksen BKT-luvut