Please check my morning post Greece + Spain = GRAIN? and follow ‘MoreLiver’ on Twitter or Facebook.
Frontrunning – ZH
The Lunch
Wrap – alphaville
/ FT
EM New York
headlines – beyondbrics
/ FT
Daily Press
Summary – Open
Europe
Eurozone
to withhold €1bn from next tranche of Greek bailout funds; German FM: If Greece stops reforms, future
tranches of funding will not be paid
Overnight
Sentiment: Oversold Bounce Overdue – Bank
of America / ZH
Morning
MarketBeat: Laundry List of Worries – MarketBeat
/ WSJ
Broker Note
Briefing: Thursday – WSJ
Morning
Take-Out – DealBook /
NYT
AM Dear
Dairy – Macro
and Cheese
Calmer Tone
Unlikely to Last – Marc
to Market (new!)
Pre-market
Commentary – Marketwatch
Pre-Market
Trading – CNNMoney
Pre-Market
– NASDAQ
US Equity Preview – Bloomberg
Earnings
& Events – The
Street
MarketCurrents
– Seeking
Alpha
Debt
crisis: live – The
Telegraph
Europe Crisis Tracker – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Bond Yields and Spreads – MTS indices (new!)
EURO CRISIS: GENERAL
Buiter says bring out the helicopter – alphaville
/ FT
Willem Buiter and Ebrahim Rahbari at Citi. Essentially, they want central banks to do more…. much, much more. (Full pdf, registration required)
Willem Buiter and Ebrahim Rahbari at Citi. Essentially, they want central banks to do more…. much, much more. (Full pdf, registration required)
BizDaily: Austerity versus growth – BBC
(mp3)
Should debt-ridden European nations stick to
austerity, or abandon it in favour of economic stimulus measures? Ed Butler and
Lesley Curwen explore the argument through an unusual game of Snakes and
Ladders. The austerity question is also debated by the BBC's economics editor Stephanie
Flanders and diplomatic correspondent James Robbins.
After several failed efforts to restore
confidence in their sickly banks, European governments face growing pressure to
change course and give the European Union more power to shore up the region's
shakier lenders.
EURO CRISIS: GREECE
Eurozone blocks €1bn of aid amid Greek
uncertainty – euobserver
EURO CRISIS: ECB
Monthly Bulletin May 2012 – ECB (pdf)
Two picks
from the monthly bulletin:
A fiscal
compact for a stronger Economic and Monetary Union – ECB
(pdf)
Comparing
the recent financial crisis in the United States and the euro area with the
experience of Japan in the 1990s – ECB
(pdf)
Statistics Pocket Book Statistics Pocket Book,
May 2012 – ECB (pdf)
German bank breaks anti-inflation taboo – euobserver
Bundesbank on Wednesday (10 May) said it may
tolerate a devaluation of the common currency to help out crisis-hit countries
suffering under a strong euro.
BIS REPORT
Decoding the latest OTC derivative BIStimates – alphaville
/ FT
Put more bluntly: the counterparty risk that
banks have on is at a level that hasn’t been seen since 2008. But hopefully, a
lot has been learned since then. There’s more use of central counterparties,
for one. For another, banks have gotten more strict about collateral
arrangements and who they transact with to being with.
ASSET CLASS VIEWS
The consensus has got the S&P 500 2013 EPS
wrong, says Morgan Stanley – Also
Sprach Analyst
Brent reigns supreme – alphaville
/ FT
European large cap banks: A value play or a value trap? – Saxo
Bank
CHINA
China trade: warning signals – beyondbrics
/ FT
Whichever way you look at it, China’s latest set of trade figures is bad news. Not only did both exports and imports fall short of expectations, they missed by quite a way.
Whichever way you look at it, China’s latest set of trade figures is bad news. Not only did both exports and imports fall short of expectations, they missed by quite a way.