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Monday, October 22

22nd Oct - EU Open: Bounce from Bottom (?)

Long posts during the weekend. You probably missed a lot:

Previously on MoreLiver’s:

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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
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices

3 Numbers to Watch: Swiss Real Estate, Asmussen & Caterpillar Q3Saxo Bank
With few data releases to report on today we take a look at some other economic events. UBS is due to release its latest Swiss Housing bubble index. ECB executive board member Jörg Asmussen is due to speak in Hamburg and Caterpillar earnings are out.
Market Preview: Tap on US Corporate earnings - Saxo Bank
European markets are expected to open in the red Monday amid weak US corporate earnings. Additionally, persistent uncertainty about a Spanish bailout following the disappointing EU summit is further expected to weigh on market sentiment.
Danske DailyDanske Bank (pdf)
US stock markets dropped markedly on Friday on the  back of disappointing Q3 earnings reports but stocks markets have recovered somewhat in Asian trade. In Spain the ruling Popular Party was able to increase its absolute majority in Galicia in connection with regional elections. Japan’s exports contracted substantially in September. Market movers today: EUR: Speeches by ECB board members including Asmussen * Q3 earnings: Caterpillar, Yahoo and Texas instruments * USD: Third Obama-Romney debate

AamukatsausNordea (pdf)
Kädenvääntö EU:ssa jatkuu – nyt Merkel taistelee Cameronin kanssa * Luottamusluvut viikon keskipisteenä * Espanjan 10-vuotinen korko alimmilleen sitten huhtikuun alun

AamukatsausTapiola (pdf)
Perjantaina osakemarkkinoiden tunnelmaa painoi eritoten USA:laisten teknologiayhtiöiden odotuksia heikommat tulokset. Kokonaisuudessaan liikevaihtokehitys on ollut vaisua. Markkinan suunta: 
Tuloskausi painoi perjantai yöllä osakemarkkinoita. Iso-Britannia jäädyttäisi EU:n budjetin, mikä aiheuttaa hämmennystä jäsenmaissa. Osakefutuurit nyt marginaalisesti plussalla, indikoiden flättiä avausta pörssiin. Hyvät ostot: Nokian Renkaat, TeliaSonera, Fortum, Lemminkäinen, F-Secure.
Hyvät myynnit: Rautaruukki, Finnair, Neste Oil, Nokia, Sampo.

Morning Briefing (EU/US): Let DownBNY Mellon

We can think of two good reasons why JPY bears may be disappointed once again


Saving the Euro-Zone, One Bank at a Time

Coming off the railsThe Economist
The euro was meant to underpin the single market, but it may end up undermining it

Most voters want Britain to leave EU: Support for pulling out at highest level for 30 yearsDaily Mail

Q3 Earnings Season To Date Summary: Ugly... And Getting Worse
Goldman’s charts

Sorry World: What Happens in Beijing, WON’T Stay in BeijingThe Diplomat
While many have feared its rise, a weaker China struggling with economic and political challenges at home may present an even greater challenge.

China can't break dependence on the US, as America once again becomes China's largest export marketSober Look

IMF's epic plan to conjure away debt and dethrone bankersThe Telegraph
So there is a magic wand after all. A revolutionary paper by the International Monetary Fund claims that one could eliminate the net public debt of the US at a stroke, and by implication do the same for Britain, Germany, Italy, or Japan.

FX Comment: the macro weekNordea

Charting the European vs US Economic DivergencePragCap

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