MoreLiver's Daily: 23rd Oct

The Bank of Canada will vote on interest rates today and clarify its outlook for the economy, which has slowed in recent quarters. We also take a look at consumer confidence in the Eurozone and home loans issued in the UK.

Asia Today: USDJPY still edging higher with one week to BOJ meet – Saxo Bank

It was a paint-drying session in Asia with a barren data slate and tight overnight ranges providing little incentive to trade. We were left to focus on news headlines for any inspiration and it was Japan that grabbed the attention

Market Preview: Focus on EU consumer confidence – Saxo Bank

European markets are expected to open higher Tuesday. Markets are keeping an eye on Eurozone consumer confidence and a slew of US corporate earnings releases due later today.

Danske Daily – Danske Bank (pdf)
Key news: Obama wins the last debate with Romney. Moody’s cut ratings on Catalonia and four other Spanish regions. Risk sentiment still a bit under pressure. Asian stocks are weaker. Focus today on earnings as the macro calendar is very thin. Market movers today: Earnings: UPS, Facebook etc., Sweden borrowing requirements, France business confidence, Bank of Canada rate decision

Aamukatsaus – Nordea (pdf)

Irlanti saamassa suopeamman kohtelun kuin Espanja * Kreikan vaihtotase jälleen ylijäämäinen * Espanjan hallituspuoleen menestys paikallisvaaleissa tuki euroa

Aamukatsaus – Tapiola (pdf)

Tiedon kustannussäästöohjelma etenee odotetusti ja näkyi jo nyt vahvana tuloksena. Rautaruukki taas alensi toistamiseen loppuvuoden ennustetta. Katso tarkemmat tuloskommentit aamukatsauksesta. Markkinan suunta: Osakemarkkinat pienessä matalapaineessa, Caterpillar laski loppuvuoden ohjeistustaan. Osakefutuurit nyt epäyhtenäiset, indikoiden flättiä avausta pörssiin. 3Q12-tuloksia aamulla: Hyvät tulokset: Kesla, Tieto. Neutraalit tulokset: L&T, Componenta, Rapala. Heikot tulokset: Ponsse, Rautaruukki.

Morning Briefing (EU/US): Higher plains drifting – BNY Mellon

The EU’s crisis plans need a greater ‘here and now’ element

Markkinakalenteri – Nordnet

Markkinakalenteri – Taloussanomat

EUROPE

FT column: Welcome to Berlin, Europe’s new capital – The World / FT

Berlin is increasingly the de facto capital of the EU. Of course the EU’s main institutions – the commission and the council – are still based in Brussels. But the key decisions are increasingly made in Berlin.

A Thought for the Next Relapse: Europe and Gold – all about alpha

Either Portugal or Italy could kick off a move toward the use of gold as collateral for sovereign debts. Each country has significant supplies of the stuff. Portugal, for example, has 383 metric tons, equaling 90 percent of its foreign reserves.

USA

This time is different, again? The US five years after the onset of subprime – voxeu.org

The strength of the US recovery has become a political issue in the presidential election. The US is doing better than other advanced economies, but famous economists associated with the Romney campaign claim this is not good enough. The US, they argue, is different. Here, the masters of the 'this time is different' research genre – Carmen Reinhart and Ken Rogoff – argue that US historical performance is not different when it is properly measured, so the economy’s performance is better than expected.

OTHER

Sharp declines in equity correlations should improve alpha generation – Sober Look

Preliminary international banking statistics at end-June 2012 – BIS

The locational banking statistics show that cross-border claims of BIS reporting banks contracted sharply between end-March and end-June 2012, falling by $596 billion (1.9%) after adjusting for breaks in series and exchange rate movements, to $29.4 trillion.

IN FINNISH

Kumpi vaarallisempi Suomelle - dosentti Bäckman vai MTV3n Helena Petäistö? – Juha Lehtinen / US Puheenvuoro

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Tuesday, October 23

23rd Oct - EU Open