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Tuesday, November 20

20th Nov - EU Open

Sorry about the late post - had to finally get some sleep :)

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
Economic Calendar – Forexpros

3 Numbers To Watch: DE PPI and US Housing Starts & PermitsSaxo Bank
Will another low inflation report from Germany inflame tensions over Eurozone macro policy? Meantime, a pause in US housing construction is expected for October, but the retreat is probably temporary in an otherwise ongoing recovery.

Asia Today: No change from the BOJ but USDJPY holds firmSaxo Bank
Asia was on central bank watch in today’s session – one set of minutes and one actual meeting. The Bank of Japan matched market expectations and left key rates unchanged with no additional stimulus measures. RBA minutes were more dovish than expected

Market Preview: France downgraded; EU finance ministers meetSaxo Bank
European markets are expected to open lower Tuesday after Moody's lowered its credit rating on France by one level to Aa1. Meanwhile, markets await the EU finance ministers meeting in Brussels and US housing starts data due later today.

Danske DailyDanske Bank (pdf)
Risk appetite improved yesterday on the back of strong US housing data and optimism that the fiscal cliff can be avoided. Moody’s downgrades France from triple A rating. Bank of Japan took a breather at the November monetary policy meeting. Focus today on  the Eurogroup meeting  about  Greece, US housing data  and  Fed chairman Ben Bernanke.

AamukatsausNordea (pdf)
Ranskan menetti jo toisen AAA-luokituksensa – vaikutus korkoihin jää pieneksi * Kreikalle myönteinen tukipäätös tänään * EURUSD nousuun USA:sta ja Kreikasta kantautuneen optimismin myötä

AamukatsausTapiola (pdf)
Yrityslainoista on tällä hetkellä haastavaa saada positiivista reaalituotto-odotusta nykyisellä inflaatiotasolla. Käytännössä sijoittajan on valittava, joko inflaatioriskin tai luottoriskin välillä. Osakemarkkinan nousulle bensaa liekkeihin USA:n asuntomarkkinoiden positiivisista tunnelmista. Ranskan luottoluokituksen laskusta vastapainoa markkinoiden optimismille. Tänään mahdollisesti ratkaistaan Kreikan seuraavan paketin kohtalo. Osakefutuurit miinuksella, indikoiden laskuavausta.

Morning Briefing (EU/US): The thrill is gone – revisitedBNY Mellon
We are beginning to wonder whether the CAD’s best days are behind it


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