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Tuesday, November 27

27th Nov - EU Open: Beware 'Crats Bearing Greek Gifts

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: UK GDP, US Durables & Consumer SentimentSaxo Bank
Today’s revised Q3 GDP for the UK will set the tone for interpreting new warnings that Q4 is vulnerable to economic weakness. Meantime, the US focuses on a high-stakes update for new durable goods orders and another read on consumer attitudes.

Market Preview: US macro releases and UK GDP data eyedSaxo Bank
European markets are expected to open firmer Tuesday after the Eurozone and the IMF agreed on a debt reduction plan for Greece. Meanwhile, investors await a slew of US economic releases and revised third quarter UK GDP data due later today.

Danske DailyDanske Bank (pdf)
Key news: EU and the IMF reach deal on Greece. The deal has lifted market sentiment, following a weak US session yesterday. Bank of Canada Governor Carney to head Bank of England. Market movers today: OECD: November economic outlook released, USD: Durable goods orders, Consumer confidence

Morning Briefing (Europe/ US): Won for the moneyBNY Mellon
Is the latest chapter in 'currency wars' being written?

AamukatsausNordea (pdf)
Euroalueelta myöntävä päätös Kreikan tuelle – IMF myöntyi ehdolliseen sopuun * Tänään katseet USA:n ja Ruotsin talousdatassa * Varovainen tunnelma sai Saksan ja USA:n korot laskuun

AamukatsausTapiola (pdf)
Eurooppalaisten pörssiyhtiöiden tuloskunto kohentumassa, mikä heijastunut positiivisesti myös Euroopan osakemarkkinoiden suhteelliseen kehitykseen. Kreikka-sovusta lisätukea osakkeille.


“The Euro Will Blow Up Europe Instead Of Bringing It Together” Testosterone Pit

Euro zone, IMF reach deal on long-term Greek debt – Reuters
A mere three weeks later, a Greek debt deal (?) – alphaville / FT
Council’s Press Release – EU Council (pdf)
Lagarde’s Press Release – IMF
Agreement on Greece not exactly boosting credibility – Nordea
A ‘broader concept of debt sustainability’ for Greece (feat. OSI-lite) – alphaville / FT
Market Yawns; Deal? What Deal? Why Does it Even Matter? – Mish’s
Euro zone, IMF agree on Greece debt deal – MarketWatch
Greece deal (part 127): Did the IMF get rolled? – The World / FT
Mark Grant On Greece: "There Is No Deal Here" – ZH
Greece Wins Easier Terms on Debt as EU Hails Rescue Formula – BB

Capital Formation and the Fiscal CliffJohn Mauldin / The Big Picture

Meanwhile, in Japan...Tim Duy’s Fed Watch
“No advanced country has adopted such a policy,” he said. Shirakawa is correct.  Modern central banks may have lost some control over inflation at times, but I don't think any has engaged in outright monetization of government debt.  Yet despite Shirakawa's insistence to the contrary, I still think that is exactly where Japan is headed.  More central bank history in the making.

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