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
Daily – Danske Bank (pdf)
-Eurogroup meet cancelled, PBoC Governor pledges help for Europe
Morning Briefing – BNY 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 – SaxoDebt crisis: live – The Telegraph
Europe Crisis Tracker – WSJ
The periphery NCBs in particular will build disproportionate amounts of such liabilities in order to provide more financing to banks in their countries.
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 Funds – The 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.