Earlier on MoreLiver’s Daily:
Weekender: Off-Topic: Alan Turing’s 100th birthday
Weekender: Trading & Markets: one’s profit is other’s mistake
Weekender: Euro Crisis: everything ’at play’
Weekender: Weekly Support: weekly reviews and previews, just
updated!
News
roundup – Between
The Hedges
News
roundup – The Trader
Emerging
Markets Headlines – beyondbrics
/ FT
The 6am Cut
London – alphaville
/ FT
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
European markets are likely to open mostly
lower Monday. Investors are cautious ahead of the EU summit scheduled for later
this week and as Spain is expected to formally ask Eurozone members for additional financial
aid to recapitalise its banks.
Danske Daily – Danske
Bank (pdf)
BIS is concerned that central banks’ remaining options to aid the economic
recovery are limited. BIS also calls for a pan-European banking system. Greece is aiming for a
two-year extension of the EU/IMF deficit targets. Market attention is likely to
centre on speculation about the potential outcome of the EU Summit on
Thursday/Friday. The main release today is US new home sales.
Morning Briefing: Decision
or collision – BNY
Mellon
Will Mr Noda be rewarded with an enviable
legacy for his efforts to raise the sales tax?
EURO CRISIS
When A New LTRO In The Elimination Stages Of
Euro 2012 Just May Not Be Enough – ZH
Bundesbank Swipes at Draghi as European Fault
Lines Deepen – BB
Revenge of the Optimum Currency Area – Krugman
/ NYT
Capital Controls Hit Spain: Government Laws
Prohibit Cash Transactions Over €2,500; Minimum Fine of €10,000 for Failure to
Report Foreign Accounts – Mish’s
Mutualising Eurozone sovereign bonds? First of
all, tame the tails
– voxeu.org
Many view Eurobonds as the silver bullet to end
the Eurozone’s crisis. But this column argues that Eurozone debt tail risks are
worryingly high, with those of bailout countries rising despite the rescue
packages. It urges Europe’s leaders to be cautious when pooling debt to create a Eurobond –
adding that it is only advisable once tail risks are tamed.
BIS ANNUAL REPORT
The 82nd Annual General Meeting – BIS
Links to
press release, annual report, speeches
Breaching the AAA bubble, charts du jour – alphaville
/ FT
“Banks themselves have lost confidence in their
peers” – Alea
Demands on bank assets pose "vicious
cycle" danger
– Reuters
Banks are in danger of a "vicious
cycle" from the need to pledge more of their best quality assets as
protection to central banks and other creditors, which could hinder the banking
system's ability to absorb shocks.
Amid Debt Crisis, Banks Confronted by Familiar
Problems – DealBook
/ NYT
The report said that to win back investor
confidence, financial institutions should write down their underperforming
assets and increase their cash reserves.
The Bank for International Settlements Calls QE
a Palliative – The
Daily Capitalist
Central bank policy “buys time” in the short
term for banks and governments to tackle debt overhangs, the BIS said.
OTHER
Can you play the stock market just based on knowledge
of human behavior?
– Bakadesuyo
Very nice
quick collection.
SELL-SIDE
RESEARCH
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access.
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Two major events can change sentiment: Firstly,
the Troika mission will land in Athens on Monday. The assessment
of the Greek economy will determine the extent to which Greece can get easier terms.
We expect a compromise. Secondly, the EU Summit