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| Source: Bespoke |
Summary: I’m heading for a job interview in 30 minutes, so no summaries of the links this morning. Last night a guest post by Stratfor, Is Noyer high? getting record views. Another update coming after the European close. If you want a view, deep search or quant work on some topic for free, contact me and spread the word, I'm trying to gain street cred here. Feedback is always appreciated, leave a comment, follow me on Twitter and Facebook, or email me. Buy Aaron Brown's book – and buy another as a gift to me.
Today's Headlines (from Tue) – Between The Hedges
Wednesday Watch (from Tue evening) – Between The Hedges
FX options: Vols, Risk Reversals & Pin Risk – tradingfloor
Debt crisis: live – The Telegraph
Eurozone crisis: live blog – FT
EURO CRISIS
Magical Thinking – The Street Light
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| Source: Bespoke |
What do the EU's finance ministers think will be different one month from now?
Peter Tchir: The latest EFSF “collateral” package shows once again, just how wrong Europe has it…Dreams of Eurobonds…Fantasies of EFSF leverage.
The Euro Zone’s Five Threats – The Source / WSJ
Delayed tranche, revisiting bailout II, revisiting EFSF, more pain, Greek pushback.
Select slides from Morgan Stanley’s Global Exposure Guide
GREECE
The Greek collateral grab — looking a bit bond swap – alphaville / FT
Beginning of the end is near for Greek drama – The Big Picture
Unrest spreads to military as retired Greek officers storm defence ministry – euobserver.com
FINANCIALS
Deutsche Bank Finds Risks in BRIC Banking System, European Sovereign Debt – History Squared
Summary and full scribd link to DB’s research piece
Rise of the central execution desk – alphaville / FT
All For One, And One For All... – ZH
Peter Tchir on Dexia and other European banks
CDS as omens of impending doom: starring Morgan Stanley – alphaville / FT
Morgan Tries to Quell Rumors About Its Holdings – DealBook / NYT
Ka-Pow! Deutsche hit by the VAT man – alphaville / FT
Regulator Seeks Oversight of ‘Cheetah’ Traders – DealBook / NYT
DEXIA
As Predicted On Friday, Dexia CDS Rips And Stock Implodes On Partial Nationalization – ZH
Includes lengthy commentary from Nomura:
Is the Dexia mess the start of a new financial crisis? – The Curious Capitalist / TIME
Dexia: Here’s Why It Matters – MarketBeat / WSJ
PIIGS debt and too little capital. 518 billion of assets, bailed out by taxpayers in 2008.
Dexia garantie (encore) – alphaville / FT
Dexia en chute encore, encore – alphaville / FT
(Non) News Of Dexia "Bad Bank" Sends Market Soaring – ZH
Greek crisis close to claiming first victim in EU banking sector – euobserver.com
FINANCIAL CRISIS
Buy back Tuesday? – Macro Man
Hayman Capital’s Kyle Bass says “Buy Guns and Gold” – HistorySquared
CHINA
Underground lending, property downturn, bad debt/bank recapitalization, hot money outflows. Scribd-link to full document.
Full scribd-link to the 42-page research report from 22nd Sep
US-China: don’t fear a trade war (yet) – beyondbrics / FT
Hard Landing Is The Central Case, But… – Also Sprach Analyst
Chinese Investment Abroad – ChartPorn
OTHER
Turnkey Research Digest – Turnkey Analyst
Summaries of recent “alpha-generating” research papers.
What Occupy DC wants: Less corporate money in politics – WP
Who are the 99 percent? – WP
Protesters Drawing Labor Support – WSJ