-after Draghi's speech, everyone got bullish
-when the ECB meeting produced nothing, everyone got bearish
-after thinking for couple of days, many believed the ECB plan makes perfect sense
-now we are hearing that the plan is currently not workable
Previously
on MoreLiver’s:
Exit Special (collection of euro breakup/exit
research)
EU Open: Curiosity (very nice euro-articles!)
Special: ECB WATCH
(updated)
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
Frontrunning
– ZH
The Lunch
Wrap – FT
Emerging
N.Y. headlines – FT
Today’s
front pages – presseurop
Daily press
summary – Open
Europe
Corriere
della Sera: France pressing Spain and Italy to apply for EFSF bond-buying; Troika officials find Cypriot public
finances ‘in a worse shape than expected’
Morning
MarketBeat: Rally Lacks Confirmation – WSJ
Broker Note
Briefing – WSJ
Morning
Take-Out – NYT
AM Dear
Dairy: Steady – Macro
and Cheese
Consolidative
Tone and Positive News from Unexpected Source – Marc
to Market
Vanishing
Spanish Yields and Resistance – 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
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
EUROPE
Is Draghi’s EuroRescue Plan Coming Unglued? – naked
capitalism
No sooner had some astute Euro commentators
noted that Draghi might have found a path through the Euro mess to keep it
patched up long enough for to impose austerity on the periphery and drive all
of Europe into a lovely depression, various elements of his plan look as if
they were coming unglued.
Chief Economist’s Corner: Super Mario nowhere
near “Game over” – Nordea
Against this backdrop, it seems that Super
Mario’s plan for saving the euro and at the same time avoiding high inflation
is based on large-scale purchasing of government bonds. I think he will be able to fulfil this task
also – with a little help from the political establishment.
SPD and eurobonds: will they, won't they? – Open
Europe
party was prepared to change its eurozone
policy by accepting collective debt liability in exchange for stricter
budgetary oversight, claiming that the Merkel government’s current strategy had
failed
You're wrong, Signor Monti: National
parliaments are not the problem - they're the solution – Open
Europe
If he thinks that the Europe that emerges from the eurozone
crisis can be built on backroom deals struck between a handful of EU leaders,
under the radar of national parliamentary scrutiny, he may be in for some very
unpleasant surprises.
OTHER
Orders and Production: No Time for Complacency – John
Mauldin / The Big Picture
A look at
the macrodata.