Google Analytics

Friday, September 7

7th Sep - EU Open: Sega Rally

All the coverage on ECB’s decision  is in my ECB Watch-post (continuously updated). I wrote my own quick views in last night’s US Close: "Euro-QE" (with plenty of high-quality article links). For this morning, only the regulars and couple of payroll previews. It is very hard for me to see how the payrolls could turn the market bearish right now - after the ECB the sentiment is bullish, market is technically strong, and good numbers would mean everything is good, while bad numbers would mean everything is still bad, but future looks nice and QE is more probable. I will update my views during the weekend. I was happy with the previous views and levels, and they worked up to the ECB's "bomb". I think we are in for uncertain times, as it is impossible to preview when the weaknesses in the ECB plan show up.

Quote of the day: The eurozone mess is the classic illustration of a saying attributed to Herbert Stein, “Economists are very good at saying that something cannot go on forever, but not so good at saying when it will stop.” But while it once looked like market pressures would force a change in policy, it now looks like the shift will come as a result of punitive austerity, either open revolt or widespread disobedience. And they can be as abrupt as market events. – Yves Smith / naked capitalism

Follow ‘MoreLiver’ on Twitter or Facebook 

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: It’s risk on in Asia after ECB’s bond plan unveiledSaxo Bank
The ECB confirmed more details on its plan to buy EU bonds overnight and gave risk appetite a boost late yesterday and extended into the Asian session. Australia posted a deficit of A$556 mln in July on slower shipments of ores and minerals to China

Morning Briefing (Asia): Spanish EyesBNY Mellon
Whilst all eyes were on Thursday's ECB meeting, it may be Spain’s take on proceedings that matters most

Market Preview: US non-farm payrolls on tapSaxo Bank
European markets are expected to take a breather and open mostly flat Friday. The ECB unveiled an unlimited bond buying programme yesterday to tackle the region's debt crisis. Markets await US monthly Nonfarm Payrolls data due later today.

Danske DailyDanske Bank (pdf)
Markets cheered by ECB bond buying plan. Stocks and safe haven yields rose and the euro strengthened. Today’s key event will be the US employment report 

Morning Briefing (EU/US): Y Viva EspañaBNY Mellon
The ECB and Spain

AamukatsausNordea (pdf)
EKP:lta odotettuja yksityiskohtia uudesta osto-ohjelmasta * Kohtalaisen rohkaisevaa talousdataa USA:sta * EURSEK nousi yllätyskoronlaskun myötä

AamukatsausTapiola (pdf)
EKP julkisti odotetut suuntaviivat euroalueen puolustamiseksi, markkinat ottivat toimenpide suunnitelman positiivisesti vastaan. USA:n positiivinen makrodata työmarkkinoilta kannusti myös osakkeita. Markkinan suunta: EKP julkisti odotetut suuntaviivat euroalueen puolustamiseksi, markkinat ottivat toimenpide suunnitelman positiivisesti vastaan. Osakefutuurit osoittavat myös nyt aamulla nousuavausta. USA:n eilen julkaistu työmarkkinadata lietsoi nousua ja tämän päivän työmarkkinaraportista odotetaan positiivista yllätystä. L & T (TOP-10) päivitti taloudelliset tavoitteensa ja BioTie teki suunnatun annin Lundbeckille.


* * *

The Post Globalized World Part 2: Why The PIGS Are (Still) Out Of LuckZH

August Employment Report PreviewA Dash of Insight

Goldman Sachs:Payroll Preview, MiddlingZH

Follow ‘MoreLiver’ on Twitter or Facebook