Frontrunning: September 21

  • China Faces ‘Hot-Money’ Surge on Financial Market Turmoil (Bloomberg)
  • China Lending Curbs Help Propel Commercial Paper Yields to Record (Bloomberg)
  • Italy plans reforms to rebuild growth (FT)
  • US accused of unfair antitrust tactic (FT)
  • Trichet urges EU banks to strengthen balance sheets (Reuters)
  • Brazil seeks to help Europe via IMF (Reuters)
  • Labour and Tories battle over IMF report (FT)
  • Greek reforms undermined by stereotypes: minister (Reuters)

European economic update:

  • Norway Unemployment rate (AKU) for July 3.2% - lower than expected. Consensus 3.3%. Previous 3.3%.
  • Switzerland Money Supply M3 for August 7.6%. Previous 6.0%.
  • UK Public Finances (PSNCR) for August 11.8B – higher than expected. Consensus 7.0B. Previous-5.6B.
  • UK PSNB ex Interventions for August 15.9B – higher than expected. Consensus 13.0B. Previous -2.4B.
  • UK Public Sector Net Borrowing for August 13.2B – higher than expected. Consensus 11.4B. Previous -5.2B.