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Monday, November 19

19th Nov - US Open


Spain bad loans reached EUR 182.2bln in September according to the Bank of Spain 

Italian Industrial Orders SA (Sep) M/M -4.0% vs. Exp. -1.0% (Prev. 0.7%)


Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: The "Hope" Is Back, However Briefly – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Today’s front pages – presseurop
Daily press summary – Open Europe

Morning MarketBeat: Thanksgiving Rally No Sure Bet – WSJ
Broker Note Briefing – WSJ
Forces Shaping the Investment Climate – Marc to Market

US session ahead
Pre-market Commentary – Marketwatch
Pre-Market Trading – CNNMoney
Pre-Market – NASDAQ
Earnings & Events – The Street
MarketCurrents – Seeking Alpha

Reference
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
Economic Calendar – Forexpros


EUROPE
The Greek “cliff” – MacroScope / Reuters
A further debt write-off is almost certainly needed if Greece is ever to get back on track. The question is one of timing and the game seems to be keeping the show on the road until German elections next September and then taking a more profound decision.

El Rosario De La Aurora – A Fistful of Euros
(on Spain) I could go on and on. I would like to be optimistic, but five years of watching this train crash in slow motion have left me with the feeling that this one now has no solution. The country’s political leaders just aren’t up to the levels of complexity involved

Not a single penny more for the EU’s begging bowl – The Telegraph
The demand for a budget increase amid such an abuse of public funds is outrageous, says Boris Johnson

Fiscal cliff lessons from the eurozone crisis – The A-List / FT
As the deadline to avert the fiscal cliff gets closer, US policy makers may want to learn some lessons from the way eurozone authorities managed their crisis.

EU shadow banking assets worth €17 trillion – euobserver

UNITED STATES
U.S. Economic Trend Update – The Capital Spectator

Waiting for a Santa Claus rally – Humble Student
In summary, the stock market has fallen hard in the last few weeks and is oversold. While oversold markets can get more oversold, this market is poised for a rally.

Meta Questions as Friday’s Bounce Continues – The Big Picture
Bernanke is not watching the 200-day moving average.

ASIA
Bank of Japan preview – Danske Bank (pdf)
BoJ takes a breather but is poised to ease further

OTHER
Morning Briefing - Monday – Nordea (pdf)
or read the summary

Morning Briefing (EU/US): Musings on Europe – BNY Mellon
As we watch and wait for news of Greece’s fate, it is hard not to go over the same old issues with a sense of despondency

FX Comment: turkey roast time – Nordea

Key Events In The Shortened Week – GS / ZH

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