Here is the
ending week in review and the next one previewed. Happy weekend and check back
on Sunday for another post. I will update this post as new stuff comes online.
Previously
on MoreLiver’s:
LAST WEEK
PRICES:
Weekly
Scoreboard – Between
The Hedges
Weekly
Eurozone Watch – Global
Macro Monitor
Week in
Review – Global Macro Monitor
US market
portrait 2012 week 33 – Portfolio
Probe
Summary for Week ending Aug 10th – Calculated
Risk
The few economic releases this week were mostly
a little more upbeat than we’ve seen recently.
The Weekender – beyondbrics
/ FT
The Weekender – alphaville
/ FT
Succinct summation of week’s events – The
Big Picture
Weekly
Bull/Bear Recap – Rational Capitalist Speculator
Week in
Review – DealBook / NYT
Podcast: MarketBeat Week (19min) – MarketBeat
/ WSJ
The five-year anniversary of the unofficial
start to the financial crisis and the end of earnings season.
Politics this week – The Economist
Business this week – The Economist
NEXT WEEK
Schedule for Week of Aug 12th – Calculated
Risk
This will be a very busy week for economic
data. There are two key housing reports to be released this week: August
homebuilder confidence on Wednesday, and July housing starts on Thursday. Another
key report is retail sales for July. For manufacturing, the August NY Fed
(Empire state) and Philly Fed surveys, and the July Industrial Production and
Capacity Utilization report will be released this week. On prices, PPI for July
will be released on Tuesday, and CPI will be released on Wednesday.
Next Week’s Tape – MarketBeat
/ WSJ
Retailer Earnings, and Housing Soundings
S&P 500 Earnings Week Ahead – Reuters
Wall St Week Ahead – Reuters
It's another one of those moments that always
follow a big move in the stock market: Either you're a believer - or you're
not. Right now, the market has its fair share of both.
Global Markets Week Ahead – Reuters
Global investors hunkered down in the bunkers
of world markets have made their first tentative moves to re-emerge blinking
into the sunlight even though the coast is still far from clear.
Global Week ahead – Nordea
(pdf)
Markets are waiting for cues to take new
direction – cues about possible decisive ECB intervention and/or more evidence
that the big economies are starting to recover modestly. For decisive ECB
action we need 1) the details of the new ECB intervention program 2) Spain
asking for EFSF intervention/pre-cautionary credit line with potentially
massive ECB support attached 3) Germany signing somewhere in the bottom. I
believe this is likely within the next two months. So listen (most) carefully
to speeches from Draghi, Rajoy, Weidmann, and the German government.
Weighing
the Week Ahead: Time for Politics? – A Dash of Insight
Starting
the Week – RCS
Key Events
In The Coming Week – Goldman Sachs / ZH
Weekly
Preview – BNY Mellon
Government bonds weekly: Time to pay the toll – Danske
Bank (pdf)
Weekly Focus: Markets supported by Draghi's
vision – Danske
Bank (pdf)
US retail sales should
strengthen after three months of weakness, while inflation should remain
modest. The first regional PMIs will be watched closely for hints of a
bottoming in the ISM. Focus will continue to centre on the development in the
sovereign bond markets in Italy and Spain. Investors are
awaiting more info on when/whether Spain will request EFSF
assistance and details on how the ECB could intervene. On the data front, we
expect a drop of 0.1% in Q2 euro area GDP. Japan Q2 GDP is expected to post the second
straight increase in a row, rising 1.9% q/q annualized down from the hefty 4.7%
in Q1. If we see the economy losing steam over the coming quarters, it could
bring the Bank of Japan back into play.
– The Short
Side of The Long
Currency Positioning and Outlook – Marc
to Market
Subsequent reports suggest there was not a
formal vote and Weidmann may not be as isolated as Draghi would have us believe…If
at first the market responded by the lack of ECB action, and then focused on
the implication of Draghi's proposal to buy short-term bonds, perhaps it will
now come over to our view and focus on the conditions Draghi imposed on the
resumption of ECB bond buying.
The Weekend
T Report:– TF Market Advisors
Weekly Credit Update – Danske
Bank (pdf)
A dull week in credit markets *
Disintermediation will continue * Higher utilisation of balance-sheet
encumbrance not a credit negative.
EMEA Weekly, Week 33 – Danske
Bank (pdf)
Highlights
from Monday’s FTfm – alphaville / FT
Emerging:
Week Ahead – beyondbrics / FT
CALENDARS
Economic
Calendar – fxstreet.com
Monthly
Economic Calendar – fxstreet.com
Debt
crisis: live – The
Telegraph
Europe Crisis Tracker – WSJ
FX Options
Analytics – Saxo
Bank