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Wednesday, February 15

15th Feb - Too Quiet

Quiet article morning, only few articles and the usual daily links below. For the good reads, please see my last night’s Greesus… post. EDIT: The supposedly big news is China's pledge of support to Europe - these are just empty words, it is important to look at what they do, not what they say. China has previously said many times that they will not support Europe, and have said it in the nastiest ways Chinese face-saving courtesy allows.

News roundup – Between The Hedges
Emerging London Headlines – beyondbrics / FT
  -Eurogroup meet cancelled, PBoC Governor pledges help for Europe
Morning BriefingBNY Mellon
  -If the Eurogroup approves the Greek package, they will do so with the full knowledge that it is no longer undeniably the least damaging option for the Euro-zone as a whole
Market Preview – Saxo
Press digests by Reuters: FT, WSJ, NYT

Debt crisis: live – The Telegraph
Europe Crisis Tracker – WSJ
Tracking Europe’s Debt Crisis – NYT

The new LTRO will boost TARGET2 imbalances - Bank of Italy exampleSober Look
The periphery NCBs in particular will build disproportionate amounts of such liabilities in order to provide more financing to banks in their countries.

Mario Monti and Italy's Generational CrisisForeign Affairs
Rome's Economic Solutions Don't Solve Its Political Problems

CASSH: The Next PIIGS?The Big Picture
Infographic: Canada, Australia, Switzerland, Singapore, Hong Kong.

Trimmed by the Hedge FundsThe Psy-Fi Blog
The secrecy associated with their activities arouses both mystique and suspicion. New research suggests that this secrecy is important to hedge fund outperformance and, counterintuitively, argues that the attempts to maintain that secrecy are partially responsible for the outperformance. It also does nothing to quench the concerns that covert manipulation by fund managers is occurring, at the cost of obscuring real market signals.