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Monday, July 9

9th Jul - US Open: More euro bullshit ahead

Markets pretty much doing what was expected of them (see below for my views). The eurogroup meeting will probably be very messy today, after the Finnish comments before the weekend, yield spike and lack of any concrete steps from the last summit. I expect slight risk-off, so we will probably see the support levels in S&P and EURUSD that I was expecting. Then it will be time again to buy ahead of the next, big, fat hope rally leg. Whole Europe is just stupid. Force the losses, recap the banks. Stop bullshitting already, please.

Earlier on MoreLiver’s:
Sell-Side Research (GS, Citi, CS...)
Weekender: Trading & Markets (incl. my views)

News & Recap – RanSquawk / ZH
Frontrunning – ZH
The Lunch Wrap – FT
EM New York headlines – FT
Today’s front pages – presseurop
Daily press summary – Open Europe

Morning MarketBeat: Earnings Season Kicks Off – WSJ
Broker Note Briefing – WSJ
Morning Take-Out – NYT
Calm before the Storm? – Marc to Market
The T Report: LIBOR, Spain & Value of Economic Data – TF Market Advisors
Signs of coordinated central bank actionKiron Sarkar / The Big Picture
AM Dear Dairy: Quietly Lower – Macro and Cheese

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
The Euro Crisis Blog – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices

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Spain: Deal in the Making?Marc to Market
The Eurogroup of finance ministers meet today and although there will be much talk, no formal decision in expected on Spain. However, this will not prevent some sketching out of the eventual plan that could be ready later this month.

ECB deposit rate falloutalphaville / FT
Rabobank: The cut in the ECB deposit rate makes it more likely that EUR/USD will drop below our 1.22 1 mth target near-term, it also heavily undermines our medium-term expectations that EUR/USD will reclaim some ground.

Speech Mario DraghiECB
Hearing at the Committee on Economic and Monetary Affairs of the European Parliament

Time for unconventional unconventional policy?alphaville / FT

Eurozone ministers to flesh out EU summit promiseseuobserver

Slow slow quick quick slowMacroScope / Reuters

The Eurozone: A Twenty Year Crisis?naked capitalism

The "New Normal" Upside Market Catalyst - Fed Doves Emitting HopeZH

S&P500 – A macro driven market since 2008; A gap to close?Saxo Bank

100 Most Influential People in European Capital MarketsThe Source / WSJ

Strategic Briefing: Deflation Risk In ChinaCapital Spectator

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