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Friday, August 31

31st Aug - EU Open

My views remain unchanged: check the Best of August for them. Both EURUSD and SPX have plenty of downside left, even within a largely bullish scenario - and September's main events are getting close... Yesterday's regular posts had plenty of good stuff on Europe, if you missed, do yourself a favor! I'm posting the usual Best of the Week later today in addition to the regular posts.

Yesterday on MoreLiver’s:
30.8. Best of August most read pieces + all my ’views’

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News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT

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

Asia today: Japanese data is appalling but JPY holding steadySaxo Bank
Asia kicked off today’s session with a definite risk-off feel to it. There was absolutely nothing positive to be garnered from the plethora of Japanese data that hit the wires early in the session.

Morning Briefing (Asia): Markets Pare Back Risk Ahead of Bernanke's SpeechBNY Mellon
The next two weeks could prove decisive for Spain

Market Preview: Bernanke's speech on tapSaxo Bank
European markets are expected to open marginally higher Friday ahead of US Fed Chairman Ben Bernanke's speech at Jackson Hole. Markets will also keep an eye on Reuters/Michigan consumer sentiment index and US factory orders data due later today.

Danske DailyDanske Bank (pdf) 
Weak industrial production in Japan and South Korea suggest global manufacturing is losing considerable steam * In Spain the Valencia region has asked for additional financial assistance * Sentiment remains negative with stock markets mostly lower * All eyes today on Bernanke’s Jackson Hole speech this afternoon  

Morning Briefing (EU/US): Still Can’t Get No SatisfactionBNY Mellon
Some initial thoughts on the news reports about Jens Weidmann. We also look at the indirect impact of rising oil prices.

AamukatsausNordea (pdf)
Pankkien valvontaelimen muodosta erimielisyyksiä * Euroalueen luottamus talouteen laski edelleen *  EURUSD romahti Espanjan viivytellessä tukipyyntöään

AamukatsausTapiola (pdf)
Markkina laskussa Espanjan viivytellessä avunpyyntöpäätöstä (ERVV:n ja EVM:n ehdot pitää selventää Espanjalle ensin), jolloin EKP:n vaikea käydä toimiin. Tänään FED:n Bernanken odotettu puhe Jackson Holessa (tuleeko QE3 vai ei), Suomen markkinoiden sulkeutumisen jälkeen.
Osakefutuurit flättinä, indikoiden rauhallista markkinaa ennen Jacson Holea.


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