Previously on MoreLiver’s:
Roundups &
Commentary
US Opening
News And Market Re-Cap – Ransquawk / ZH
Frontrunning – ZH
European Risk Is Back: CDS Surge, Spain 10 Year
Back Over 6% – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Today’s front pages – presseurop
Daily press summary – Open Europe
Eurozone starts discussions on central
budget
Morning MarketBeat: The QE Hangover – WSJ
Broker Note Briefing – WSJ
Morning Take-Out – NYT
AM Dear Dairy: Turbulence – Macro
and Cheese
Sterling's
Resilience: Agriculture Subsidies? – Marc
to Market
A Few Observations about Europe on Hump
Day – Marc
to Market
The T Report: Run, Don’t Walk – TF
Market Advisors
– Kiron Sarkar / The Big Picture
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
Reference
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
EUROPE
Banking integration: Friend or foe? – voxeu.org
Is a banking union the answer to Europe’s woes? This column argues that
banking union is no panacea – and it may actually make monetary policy harder.
It urges Europe’s policymakers to re-evaluate their proposals.
The ESM Investor Presentation – ZH /
scribd
Recaps and the ESM treaty – alphaville
/ FT
Taking responsibility, the ESM way – alphaville
/ FT
one senior euro zone official familiar with the
discussions that took part in Helsinki said: “All I can say is that the
statement means that ESM direct recapitalization should not be used to take
care of old problems.”
Spanish challenges mount again – Nordea
Spain received a batch of bad news yesterday,
which only underlines that the country still has a lot to do to bring
confidence back for good.
It would be unthinkable for the Spanish state
to stop Catalan secession by military force. Such action would violate EU
Treaties and lead to Spain’s suspension from the
European Union. You do not do such things in the early 21st Century. "No
pots ser membre de la UE si utilitzes la força" was the headline. I may have underestimated the vigour of the Spanish officer corps.
Spanish 10Y Bond Yield Breaches 6% – ZH
Next Steps For Spain – ZH
nice
calendar from RanSquawk
Euro Update: The Perils of Pointless Pain – Krugman
/ NYT
I really do think Draghi has done very well.
But he can’t make internal devaluation work on his own, and he can’t save Europe if its leaders continue to think
that gratuitous infliction of pain is sound policy.
The business tendency survey indicates sluggish
GDP growth, which in turn will reduce the demand for labour. Low inflation
and rising unemployment will put pressure on the Riksbank to cut rates.
New Greek Austerity Protests Are Turning Ugly – The
Atlantic Wire
A German euro exit 'not science fiction' for Il
Cavaliere – Open
Europe
US
What If the Fed Has It All Wrong? – John
Mauldin / The Big Picture
Chart of the day: The long decline of labor – Felix
Salmon / Reuters
Labor
income as a share of total income at all-time lows.
Dow will repeat 2007-2008 peak-crash cycle – MarketWatch
It’s deja vu as lessons of meltdown go unheeded
OTHER
G10 Weekly: When QE becomes futile – Nordea
(pdf)
The risk is that QE, instead of supporting
aggregated demand, rather increases households´ propensity to save as real
disposable income starts to fall.
Is the stress back in Stress Indicators? – Saxo
Bank
indicators are reversing from 'risk-on' to
'risk neutral