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Tuesday, October 2

2nd Oct - US Close

Previously on MoreLiver’s
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Roundups and Commentary
Markets – Between The Hedges
The Closer – alphaville / FT
Roundup – A View From My Screens
Roundup – Kiron Sarkar / The Big Picture 
Tomorrow’s Tape: ADP on Jobs, ISM on ServicesWSJ
US Summary – ZH
Morning Briefing Asia: RBA Cut Rates, But Dow Closes Lower – BNY Mellon
  There are no easy short-term solutions to the Euro-area’s problems; but faith in the EU’s current approach is hard to find

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

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Analysis: Uneasy role for IMF in euro zone crisisReuters
The euro zone debt crisis is pushing the International Monetary Fund into new, and at times, uncomfortable territory. The global lender is preparing to monitor some of Europe's largest economies possibly without its biggest weapon - money.

Why Germany must face up to its €1 trillion headacheThe Telegraph
Here's another fine mess the political hubris of the euro has got Europe into.

ECB preview: Draghi still waiting for SpainDanske Bank (pdf)

Where can we find more money for Greece?Nordea

Exclusive: Spain ready for bailout, Germany signals "wait" – sourcesReuters
Spain is ready to request a euro zone bailout for its public finances as early as next weekend but Germany has signaled that it should hold off, European officials said on Monday.

Spanish deficit: The saga continuesOpen Europe
Keeping count of how many times Spain's deficit targets and forecasts have been revised has become a challenging exercise.

Moody’s, Like Everybody Else, Has to Wait on SpainMarketBeat / WSJ
Moody’s says it will now complete its ongoing review of Spain’s sovereign debt rating sometime before the end of October.

Spanish Banks Need More Capital Than Tests Find, Moody’s SaysBB
The nation’s lenders may need infusions of 70 billion euros to 105 billion euros to absorb losses and still keep capital ratios above thresholds outlined in legislation last year, Moody’s analysts wrote yesterday in a report. That compares with the 53.7 billion euro shortfall found last week after officials commissioned a stress test designed to lift doubts about the financial industry’s ability to withstand losses.

EU falling short on bank capital rules, warns regulatoreuobserver

Banks should separate deposits from risky trading, group sayseuobserver

EU plans curbs on bank risk-takingThe Telegraph
Risky activities such as proprietary trading will have to be separated from safer operations under EU proposals for banks published today.

Strategic Briefing: Fiscal Cliff Risk AnalysisThe Capital Spectator

Quarterly Guide to the MarketsJ.P. Morgan
Excellent chartbook, the pdf download link is on the left of the page.

Nordea Economic and Market Outlook: From crisis to crisisNordea
US: Unintended side-effects of the Fed’s ultra-easy policy loom * Euro-zone: Slowly moving in the right direction * FX Majors: Under the central bank “put” * Sweden: Manufacturing in the cold November rain * Norway: Later rate hike from Norges Bank * Denmark: A gradual return to the growth track * Nordic Covered bonds: Plenty of cheap Danish ARMs (direct pdf)

Tuomioja ja aasinmyssyHannu Visti

Tuomioja ei osaa laskeaElina Lepomäki / US Puheenvuoro

Kun demari herkun haistoiVille Kauppinen / US Puheenvuoro

Tehdäänpä lainakauppa Tuomiojan logiikalla Juha Lehtinen / US Puheenvuoro

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