12th Jan - Waiting...

Good morning! Added a new line to the regular links: press digests by Reuters. Most of the stuff was covered in last night’s post. The ECB previews and euro crisis porn were there, have a look. I'm making a plea: I know from the statistics that I have a very regular audience. Feedback on why you're here would be very helpful. MoreLiver is on Twitter and Facebook and "noproblemanon" at gmail.

- MoreLiver

News 12-Jan morning – BTH

News 12-Jan – The Trader

Press 12-Jan by Reuters: WSJ, FT, NYT, British

Morning Briefing 12-Jan – BNY Mellon 

Daily 12-Jan – Danske (pdf)

Market Preview 12-Jan – Saxo

FX option vols – Saxo

TV: Bloomberg, CNBC, BBC

Debt crisis: live – The Telegraph

Europe Crisis Tracker – WSJ

EURO CRISIS

Europe’s The Road to Nowhere, Part 1 – Fiscal Bondage – Satyajit Das / naked capitalism

Just as Margaret Thatcher favoured “sado monetarism” (a term coined by Denis Healey), the German plan for Europe is “fiscal B&D” (bondage and discipline).

Italian Job – Xi Li / EconoMonitor

ECB to buy unlimited amounts of Italian bonds or a fiscal union. In the end, both solutions are the same, but the only solutions to save the euro.

OTHER

China Enters The Danger Zone, SocGen Presents The Four Critical Themes – ZH
Weakening exports, housing bubble about to burst, local government's debt burden, and large shadow banking system), and show that China has no choice but to transition to a more consumption-driven economy leading to waning growth for infrastructure-related capital goods and greater demand for consumer-related manufacturing. Overall they see a hard-landing becoming more likely.

Fear and Loathing in the Financial Markets – What Happens to the Economy When the Oil Bubble Bursts? – Philip Pilkington / naked capitalism

In 2008 profits in the US economy crashed out. But they soon bounced back. This bounce was largely due to the profits being reaped in the financial sector – which sickened many given that 2008 was in large measure caused by the financial sector.

What’s Next for the SNB? Something Important? – Bruce Krasting

What appears to be coming up for discussion in Switzerland is the independence of the central bank. Who does it report to? Who controls it? What are its powers? What checks are there in the system?