Summary: ECB coming up. Notice the do-it-yourself stress test calculator to the right. Shorter linkfest today, if something special happens, I’ll post another around the U.S. close. Previously I posted a separate linkfest on Steve Jobs and on ECB/Trichet.
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| Click this text for the interactive "Stress Test @ Home" |
FX options: Vols, Risk Reversals & Pin Risk – tradingfloor
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| China wants consumerism, but ends up investing |
Markets Live – alphaville FT
Debt crisis: live – The Telegraph
Eurozone crisis: live blog – FT
Debt crisis Live Blog – The Source / WSJ
EURO CRISIS
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The end of the beginning? – alphaville / FT
EZ leaders have woken up, but where is the money going to come from? Banks need 100-260bn, of the 440 EFSF billions 100 committed to Ireland and Portugal and only 190bn left to support bond markets – which would last 22 weeks given the ECB’s purchase rate.
Special Report: A fight for the soul of the ECB – Reuters
Greek-Bailout Shenanigan: A User's Rough Guide – WSJ
1h32m video of panel talk with Marco Buti / EC, Erik Berglof / EBRD, Julian Callow / Barclays, Daniel Gross / CEPS, Antonio Borges / IMF, Mark Gilbert / BB
Euro Compass Economics & FI 4Q – Unicredit (pdf)
CEE Quarterly Economics & FI – Unicredit (pdf)
CEE Economic Data – Unicredit (pdf)
CIS Monthly Monitor (Sep) – Deutsche Bank (pdf)
FINANCIALS
Le Figaro Discloses France Has Prepared An Emergency "Just In Case" Nationalization Plan For "2 Or 3" Banks – ZH
Details Emerge on Draft of Volcker Rule Proposal – DealBook / NYT
(=ban on proprietary trading by banks whose deposits are federally insured)
OTHER
Commodities become more… benign – alphaville / FT
BarCap’s research notes on commodity price vulnerability to a recession and comparison of return deviations from normality
Rebalancing Chinese Economy: That Almost Impossible Math – Also Sprach Analyst
The drive to transform Chinese economy into consumption-driven model has so far failed. The response to the crisis has, given the drop in exports, to increase investments even further.
There has been speculation that the 1.20 floor would be raised to 1.25 or 1.30.
Occupy Wall Street
A tipping point for OWS – WP
Congressional Democrats embrace OWS – WP
Matt Stoller: The Anti-Politics of #OWS – naked capitalism