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EUROPE
No European solution on the migration crisis in
sight – Open
Europe
EUROPEAN
CENTRAL BANK
The new figures on bank
lending in the Euro area did not show much difference to the earlier months:
growth was positive but still weak. If anything, the continuously sluggish
credit growth supports the expectations for further monetary policy easing on
10 March.
Euro-Area Disappointments Mount as Inflation
Rates Slip Back – BB
German, French and
Spanish prices all drop in Feb. vs year ago * Inflation data for currency bloc
due to be published Monday
ECB to remove the deposit floor for QE
purchases – ABN
AMRO
Why ECB’s Draghi Needs To Bring Out The Big Guns
This Time – WSJ
Disappointing
expectations of a two-tiered deposit rate could lead to tighter conditions
UNITED STATES
Rate-Hike Odds Surge To Highest Since January – ZH
Q4 GDP
Q4 GDP Revised Up to
1.0% Annual Rate – Bill
McBride
What Changed in the
Fourth-Quarter U.S. GDP Report – WSJ
U.S. fourth-quarter
growth revised up to 1.0 percent – Reuters
U.S. Growth Revised
Higher on Upward Adjustment to Inventories – BB
Q4 GDP Revised To 1.0%: Less
Inventory Liquidation; Personal Consumption Falls – ZH
Economists React to GDP
Report: ‘Less Than Meets the Eye’ – WSJ
OTHER
While the link between
general risk appetite and intra-Euro-area bond spreads has not been totally
broken, the ECB’s purchase programmes have weakened this link considerably.
Expectations ahead of the ECB March meeting have been building, and leave
spreads with some narrowing potential in the near term. Longer out, the
potential for further spread divergence remains.
Impotent global institutions make 'grand
bargain' elusive – TF
Special Issue: Hedge Fund Rankings 2015 – Bloomberg
Brief
An "old
normal": a single global risk factor drives half of the variation in
returns. A new normal: global risk factor even more dominant. Fundamentals
matter less than whether country designated as an emerging market.
For All its Allure, Helicopter Money Won't Fly – View
/ BB
G-20
Germany Opposes Any G-20
Fiscal Stimulus; Focuses on Reform – BB
G-20 Seminar on
Structural Reforms -- Opening Remarks by Christine Lagarde – IMF
After the G20, FX
intervention edition – FT
G-20 Needs To "Man
Up" Or Risk Sparking Market Chaos, Citi Warns – FT
REGULARS
Vain hopes for G-20 action, Irish
vote, policy signals from China * UK GDP growth remained resilient in Q4 * Still
good demand for bonds * CHF and JPY suffer
Shares rallied in Tokyo on a
positive lead from Wall Street and the jump in crude prices; the rally lost some
of its momentum in late trading. Meanwhile in neighbouring China PBoC governor
Zhou told the G20 meeting that Beijing won't devalue the yuan to support
China's economy. Market watchers are keeping a close eye on the summit which
started today (Friday) and continues on Saturday in case world financial
leaders and central bankers have more to say on their forex and monetary policy
plans.
Daily FX Comment –
Marc
Chandler
Global Markets Trying to End Week on
Upbeat
Daily Shot – TF
Ahead of the G20 meeting
in Shanghai we take a closer look at Asia.
Matt Levine’s Money Stuff
– View
/ BB
Folksy Wisdom and Credit
Ratings
Daily Press Summary – Open
Europe
Recriminations fly as
meeting of EU ministers on migration descends into chaos * Lord Howard: Voting
to leave could force EU leaders to come back with a better reform offer * EU to
rethink rules on bank bonuses to grant greater flexibility to smaller entities
* New poll: Only 15% of Brits trust MEPs to implement UK-EU deal in full * Ireland
goes to the polls with a hung Dáil the most likely outcome
Brussels Playbook – Politico
French revolution —
Election time — Migration tensions
US Open – ZH
Global Stocks, Oil Continue
Streamrolling Shorts On Last Minute Hopes For G-20 Stimulus Announcement
Frontrunning – ZH
Global markets are
mildly hoping that the Shanghai G20 produces a stimulus-friendly statement. But
focus next week likely to shift quickly to US data and key March central bank
meetings.
The latest inflation
figures out of Japan show a country whose experience may well give the lie to
the stimulus hopes surrounding the G20 summit in Shanghai.
FINLAND
& FINNISH
Mikä
onkaan lähtölava * USA:n investointihyödykkeiden tilaukset piristyivät *
Ruotsissa luottamus talouteen pysyttelee korkealla * Skandivaluutat liikkuivat
hajanaisesti euroa vastaan