Of course, US is closed, but here are the headline updates.
Previously
on MoreLiver’s:
31.8. US Close: Bernanke's Apology (comments on Fed)
31.8. Best of August most read pieces + all my ’views’
Roundups & Commentary
Frontrunning
– ZH
The Lunch
Wrap – alphaville
/ FT
Emerging
N.Y. headlines – beyondbrics
/ FT
Today’s
front pages – presseurop
Daily press
summary – Open
Europe
Barroso
calls for new treaty and more integration
Morning
MarketBeat:– WSJ
Broker Note
Briefing – WSJ
September
is looking particularly uncertain – Kiron
Sarkar / The Big Picture
Reference
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
EUROPE
Should we worry about Target2 imbalances? Why
Central Bank negative equity does and doesn’t matter – bruegel
Thus, if central bankers believe, or the public
believes that central bankers believe, that a negative equity position of the
central bank leads to a change in monetary policy, real consequences
materialize and central bank equity matters. In that sense, Sinn has a point in
claiming that Target2 assets and liabilities will lead to losses in case of a
break-up. But this is more complex than simply taking the Target 2 imbalances
and equating those to a loss.
ECB under pressure on bond-buying – euobserver
Barroso: EU Treaty 'needs to be renewed' – euobserver
ECB Focus: Mandate change plus German ESM and
bill issues support
– Saxo
Bank
So Bankia is still a viable bank...? – Open
Europe
The changing dynamics of sovereigns on loan – alphaville
/ FT
European PMI’s
Euro area
manufacturing PMIs point to continued contraction in August – ASA
Eurozone
PMIs: from still bad to worse – alphaville
/ FT
Euro zone
factories faltering as core crumbles – Reuters
OTHER
Labor Day Week in FX history offers
important lessons – Saxo
Bank