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Tuesday, August 28

28th Aug - US Open

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Roundups & Commentary
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: Consumers Still Gloomy – WSJ
Broker Note Briefing – WSJ
Morning Take-Out – NYT
AM Dear Dairy: Calm – Macro and Cheese
US session ahead
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

German lawmakers say "Grexit" not just economic riskReuters
Germany's raucous internal debate on whether to keep Greece in the euro zone is too narrowly focused on financial factors and should also weigh up the wider geopolitical risks of a "Grexit", senior officials in Chancellor Angela Merkel's party say.

Merkel under pressure over ECB banking union roleeuobserver
Angela Merkel is coming under mounting pressure from the Bundesbank and the sister party of her Christian Democrat group to block EU plans to make the ECB the central supervisor of a eurozone banking union.

With every hour that passes, we need the EU less and lessThe Telegraph
The people of Britain - and Europe - have seen through the great project. When will the elites catch up?

SocGen’s Annotated European Event CalendarZH

Chart Of The Day: For Spain, The Real Pain May Be Just BeginningZH
Couple of charts from Goldman Sachs

Spaniards pull more money out of banks in JulyReuters
A rush by consumers and firms to pull their money out of Spanish banks intensified in July, with private sector deposits falling almost 5 percent as Spain was sucked into the centre of the euro zone debt crisis.

Pressure on Spain eases – at least temporarilyNordea
Spain received some good news today, as it was able to sell 3-month T-bills at a yield of less than 1%. Still, plenty of challenges remain.

Lending to euro zone households dips in July: ECBReuters
Loans to households in the euro zone fell in July, reflecting weak domestic demand, while loans to companies ticked up only slightly, suggesting a credit squeeze persists despite ECB efforts to provide liquidity, data showed on Tuesday.

Flash comment: M3 growth could be ECB's next problemDanske Bank (pdf)

ECB Said to Urge Weaker Basel Liquidity Rule on Crisis RisksBB

Draghi To Miss Jackson Hole Forum; All Rumors Now To Focus On Sep 6 MeetingZH

Australia: Running Out of Luck Down UnderJohn Mauldin / The Big Picture

Is Australia… in the same boat as Europe?alphaville / FT
Variant Perception: We believe the RBA will ultimately be forced to take similar action to developed market central banks either by aggressively cutting interest rates or propping up banks through domestic open market operations akin to the liquidity injections seen by the ECB.

China’s bad-debt nightmarealphaville / FT

3 things that delay Chinese government stimulus, according to BarclaysASA

China official leading indicator fell further in JulyASA

Stress Indicator returns; Watch risk events in SeptemberSaxo Bank
Sweden: Sluggish trend in exports continued in JulyNordea
Weak exports and decent imports explain the weak trade balance in July. The trade balance came out at a mere SEK 3.7bn, well below consensus at SEK 7.5bn and lower than last year’s 7.4bn.

Peak cheap oil is an incontrovertible factThe Telegraph
If the looming global oil crunch has been postponed for another decade or two as widely alleged, this is far from obvious in today’s commodity markets.

Virkamiehet: Tämän vuoksi Kreikka ei tarvitse lisää lainaaTalSa

Uusi ”Moskovan Tiltu” rohkaisee Suomea irtautumaan eurostaTE

Puheenaihe: Kokoomuksen kalut kateissaAL