EURUSD and SPX somewhat positive ahead and immediately after the European central banks - both unchanged but sending positive messages. Or thus thinks the market. Wednesday's late minirally in US was attributed to Romney's perceived good performance in debate vs. Obama. The (coming) European roadmap to closer union (banking & fiscal) will be the defining moment of the euro crisis.
Previously on MoreLiver’s
Roundups &
Commentary
US Opening
News And Market Re-Cap – Ransquawk
/ ZH
Frontrunning – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Today’s front pages – presseurop
Daily press summary – Open Europe
Catalan Economy Minister: Spain’s bailout request ‘a matter of weeks away’
Morning MarketBeat: What a Difference a Year Makes – WSJ
Broker Note Briefing – WSJ
Morning Take-Out – NYT
AM Dear Dairy: Mixed – Macro and
Cheese
The T Report: Writers Block – 2 Pages of It – TF
Market Advisors
US session ahead
Pre-market
Commentary – Marketwatch
Pre-Market
Trading – CNNMoney
Pre-Market
– NASDAQ
US Equity Preview – Bloomberg
Earnings
& Events – The
Street
MarketCurrents
– Seeking
Alpha
Reference
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
EUROPE
Threatening to leave the eurozone may be
Ireland’s only way to break the link between its sovereign and bank debt – Europp
/ LSE
Ireland faces a heavy fiscal and structural adjustment programme imposed by the
Troika at the same time as some EU countries insist that it continues to pay
the debt of its failed banks. With Spain now getting
assistance for its banks under the European Stability Mechanism, Aidan Regan
argues that there are different rules for different eurozone countries.
EU leaders to consider eurozone budget, reform
'contracts' – euobserver
The commission blueprint is only expected to be
issued after the October summit, but before a November meeting of EU leaders
aimed at sealing a deal on the next EU budget for 2014-2020.
A German slowdown– alphaville
/ FT
JP Morgan’s Alex White argues that the German
policy motor may be about to properly slow down, and with it the response to
the eurozone crisis which usually moves at Germany’s speed
European Bailout Rumor Du Jour Comes In Early – ZH
“EURO ZONE CONSIDERING FIRST LOSS INSURANCE
FOR SPANISH BONDS UNDER ASISSTANCE PROGRAMME”
The European Semester Timeline – bruegel
EU economic policy coordination is now
supported by a process known as European Semester, which provides a common
timetable for EU policy guidance and the monitoring of national actions. This
blog entry summarizes the main steps in the European Semester and the role each
EU Institution plays in the process.
The quest for a healthy European banking sector – Open
Europe
Yesterday saw the release of the hefty Liikanen
report (a dense 153 pages) on the European banking sector. We’re yet to fully
sift through the report but there a quite a few eye catching graphs and
statistics which we thought worth flagging up.
G10 Weekly: No doubt, central banks are
dominating asset markets – Nordea
(pdf)
Equity markets are apparently pricing in a
different story than rates markets. In our view, this dislocation with rates is
rather a reflection of central banks’ balance sheet expansion but perhaps also
the lack of investment substitutes when core government bond yields offer
negative real returns.
Business Cycle Monitor: First signs of recovery – Danske
Bank (pdf)
Overall, we believe surveys are in a bottoming
phase. We believe the US activity indicators
will pick up further in coming months and, together with Chinese stimuli, this should
soon start to have a positive effect on the global economy. Hence, we expect PMI to recover gradually in Q4.
not only are flows into EM debt growing, as has
been widely reported, but they are also changing in nature. What were once
investments bought only by the bulls have become an asset for bears, too. In
other words, a haven of safety.
September 2012: the month in charts – The
Knowledge Effect / Thomson Reuters
IN FINNISH
Rahoitusmarkkinat –
Tilastokatsaus – Suomen
Pankki (pdf)
aihepiirejä ovat
korot, valuuttakurssit, Suomen pankkijärjestelmän taseet, raha-aggregaatit ja
niiden vastaerät, talletukset, lainat, maksutase sekä rahoitustilinpito.
Lisäksi julkaisu sisältää tietoja muutamista keskeisistä reaalitalouden
indikaattoreista euroalueella ja Suomessa.
Pragmaattisuutta
ideologisen hurmoksen sijaan – Jan
Vapaavuori / US Puheenvuoro
Transaktioverosta.