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Monday, November 26

26th Nov - US Open





Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: No Progress Means Lots Of Progress – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Today’s front pages – presseurop
Daily press summary – Open Europe

Morning MarketBeat: No Fear Brings Back Bad Memories – WSJ
Broker Note Briefing – WSJ
The T-Report: Quebec Welcomes Catalonia to the United Nations! – TF Market Advisors

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
Completing and Repairing EMU – ECB
Speech by Vítor Constâncio, Vice-President of the ECB, 26-Nov 2012

Expect to hear a lot more about asset encumbrance, say SocGen – alphaville / FT

Fiscal discipline in the monetary union – voxeu.org
For the euro to survive, the recession must be halted without piling on more debt. This column argues that the unpalatable conclusion is that public debts must be written down. The massive moral hazard problem this will cause must be dealt with by making sure that public debts will never again be allowed to grow to unsustainable levels. To this end, decentralised US-style fiscal discipline is needed.

  GREECE
Eurogroup meets for third go at kicking can down the road – alphaville / FT

Greece, round 3: Let the debt relief talks begin – Brussels blog / FT



Cut out and keep, charting Greek OSI edition – alphaville / FT 

The Farcical Tragicomedy Of The "Sustainable" Greek Debt/GDP "Denominator" – ZH
JPM’s piece.

  SPAIN
What Does Catalonia's Pro-Independence Majority Vote Mean For Spain, And Europe – ZH
SocGen’s note.

(audio) BizDaily: Catalonia votes – BBC (mp3)
Is the Catalonian election a step towards independence? What would it do to the eurozone if Spain, one of its most financially stressed nations, were to break up politically? And which country will determine the fate of the eurozone for the long term? Indeed does the eurozone have a long term - and if so what would it look like?

UNITED STATES
Recommended Reading: Understanding the Fiscal Cliff – CFA Institute

ASIA
China’s ubiquitous ghost cities – alphaville / FT

The decade of Xi Jinping – Gavyn Davies / FT

OTHER
FX Drivers in the Week Ahead – Marc to Market
mildly consolidative tone...There are no assurances that today's meeting will succeed where the previous two have failed... There is much speculation of which major country will be next following the recent French downgrade. The UK must be considered a prime candidate.

New Financial Forecasts – Optimism partly reinvigorated – Nordea
or read the summary

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