Not much to report. I hope to punch in a post during the weekend outlining the coming "Great September of Europe".
Previously
on MoreLiver’s:
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
MORNING BRIEFINGS
Market Preview: Eyes on ECB monthly report – Saxo
Bank
European markets are likely to open higher
Thursday amid speculation of further monetary easing in China after data showed
that the nation's consumer price inflation slowed to 30-month low in July.
Markets await the ECB monthly report due today.
Danske Daily – Danske
Bank (pdf)
US bond yields in five-week high after weak
auction of 10-year Treasuries. US equities closed broadly flat while Asian
stock markets trade higher this morning. Chinese CPI dropped to 1.8% y/y in July from
2.2% y/y. Bank of Japan keeps key interest
rate and asset-purchase programme unchanged.
Morning Briefing: It ain’t easy – BNY
Mellon
GBP may soon face headwinds from a number of fronts
Aamukatsaus – Nordea
(pdf)
Kiinan inflaatio hidastuu – lisää elvytystä tulossa * BoE
ennustaa inflaation hidastuvan * SEK ja NOK
nousseet euroa vastaan vahvimmilleen sitten 2000-luvun alun
Aamukatsaus: Kiinan makrotilastot osoittavat kasvun hidastuvan – Tapiola (pdf)
Osakemarkkina eteni
eilen varovaisesti, ilman uutisvirran ohjausta. Aamulla julkaistut tilastot
kertovat Kiinan talouden hidastuvan edelleen odotuksia nopeammin. Matala
inflaatio antaa kuitenkin tilaa merkittävälle elvytykselle. Osakefutuurit
selvästi plussalla indikoiden nousuavausta. Aamun 2Q12 -tuloskommentit:
Ahlstrom, Capman, Digia, Olvi, PKC Group ja Ramirent
Markkinakalenteri
– Nordnet
EUROPE
Greece Prints Euros To Stay Afloat, The ECB Approves, The Bundesbank Nods, No
One Wants To Get Blamed For Kicking Greece Out – Testosterone
Pit
Excerpts
and links to couple of recent European articles. Especially nice was PIMCO’s
Bill Gross on FT: “Draghi and friends just want your money”.
USA
The way forward – Free
exchange / The Economist
the recovery has been notable for the
remarkable stability in both output and employment growth. There are short term
fluctuations, but both have on average kept within a narrow, Fed-maintained
band centred on a trend line with a Fed-approved slope. We'd all love to see
the slope of those lines change. That simply will not occur without a change in
the Fed's tolerance for inflation.
CHINA
Retail
sales growth slowed to 13.1% yoy in July 2012 – ASA
Industrial
production grew by 9.2% in July 2012 – ASA
Fixed asset investment growth remains flat in
July 2012 – ASA
IN FINNISH
Korkman:
Etelä-Euroopan ja Suomen olisi pitänyt jäädä pois eurosta – Talouselämä
Urpilainen:
Eduskuntaa ei johdettu harhaan – Taloussanomat
Monti ymmärtää rahan
päälle – eduskunta ei – Sami
Miettinen / US Puheenvuoro
Saisivatko Suomi ja
suomalaiset euroerosta miljardien pikavoiton? – Taloussanomat