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Tuesday, August 14

14th Aug - US Open: Bored

Posting a bit early, will update the missing ones as they come online. Boooring…. Getworkdonemusic for some EDM. MoreLiver's department of linguistics announces a new word for a boring asshole: borehole.

Previously on MoreLiver’s

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US Opening News And Market Re-Cap – Ransquawk / ZH
Frontrunning – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics /FT
Today’s front pages – presseurop
Daily press summary – Open Europe

Morning MarketBeat: It’s Quiet Out There, Sarge – WSJ
Broker Note Briefing – WSJ
Morning Take-Out – NYT
Overnight Sentiment – BofA / ZH
AM Dear Dairy: Resilience – Macro and Cheese
Should ECB Sell Bunds?Marc to Market

The T Report – TF Market Advisors

Pre-market Commentary – Marketwatch
Pre-Market Trading – CNNMoney
Pre-Market – NASDAQ
US Equity Preview – Bloomberg
Earnings & Events – The Street
MarketCurrents – Seeking Alpha

TV: Bloomberg, BBC
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

European Q2 GDP Contracts 0.2%, German Growth Beat Offset By Plunge In ZEWZH
Charts by SocGen

Eurocrisis lessons from banking regulation: create collateral in return for supportbruegel
The similarities between banks and countries in a monetary union are striking… Eurozone countries are trying to stop an evolving liquidity and solvency crisis without resorting to all-out liquidity support, while at the same time limiting transfers and ruling out further integration as a way to improve control over policy and budgets. This is close to trying to regulate countries in the way we regulate banks.

ESM, not yet of this world, dodges another curveballalphaville / FT
A spokeswoman for the Constitutional Court said that a preliminary ruling Sept. 12 will take place to decide whether the legislation is compatible with Germany’s constitution, despite this new complaint.

ECB: No free lunch
While markets have been cheered by recent ECB announcements on sovereign debt, some still question the Bank’s ability to save the euro. This column argues that the ECB is a lot stronger than many think. Linking ECB sovereign bond purchases to policy conditionality will ensure that reform efforts are sustained. The free lunch option has been ruled out – and that is a good thing.

(audio 17min) BizDaily: Finland and the euroBBC (mp3)
Business Daily comes from Finland, the eurozone's most northerly country and one where there is resentment about the bailouts of struggling nations such as Greece. Some wonder whether the euro is worth it. But the governing coalition insists that Finland is committed to the euro.

A Dalio explanation of Evan-Pritchard's dilemmaHumble Student
Evans-Pritchard believes that the resolution problem is a binary one - either "inflation (1945-1952) or default (1930-1934)". Dalio is far more nuanced. You just need the right policy mix of austerity, debt write-offs and defaults and money printing.

François Hollande’s Wrong Idea of FranceProject Syndicate
French President François Hollande has achieved a remarkable series of political victories – at home and in Europe – since his election in May. Unfortunately, his streak of success will inevitably call forth an economic reckoning that will shock France’s unsuspecting citizens and doom its approach to the “construction of Europe.”

EURUSD daily range distribution chartAlea

HK: ex-banker offers free data servicebeyondbrics / FT
Webb plans to add thousands of company directors to his database in the next few days. That is likely to be an even more valuable resource given that Hong Kong’s equity market is notorious for corporate governance failings.

Hyvästi SuomiKalle Isokallio / IL

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