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Thursday, November 1

1st Nov - US Close

Greece is in deep, deep trouble - or rather, the creditors are in trouble and Greece will soon be just fine. Which shall it be, more 'extend and pretend' or mini-meltdown? In US, it will be about the elections, and result rests on tomorrow's employment numbers. Bad numbers: Romney wins. Ok to good numbers: Obama wins.

Previously on MoreLiver’s:

Roundups and Commentary
Markets – Between The Hedges
The Closer – alphaville / FT 

Roundup – Kiron Sarkar / The Big Picture
The T Report: The Visible Hand – TF Market Advisors
Tomorrow’s Tape: The Big Kahuna Jobs Report WSJ 
US Summary: Stocks Sizzle As Apple Fizzles – ZH

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

Upside risks to Euro-area Q3 GDPNordea

ECB's Marginal Facility Usage SoarsZH
…one or more banks saw their need for EUR explode in the last day of the month, sending overall usage on this credit line to €7.8 billion, the most since mid-March, and a surge of over €7 billion overnight.

Not Exactly The Greek OrthodoxZH
The IMF has suggested that Europe take the pain and Europe is refusing and so the IMF may decide not to fund and leave the nations on the Continent to their own designs. Any extensions in terms will require another $40 billion give or take and some countries might actually refuse to participate as a matter of national politics.

Coalition troubles in Athensalphaville / FT
There are some worrying signs about the strength of the Greek government coalition building this week. Between voting abstentions, public disagreements and new strikes, it’s looking ever bleaker.

Fiscal cliff uncertainty remains high; likely has been a drag on growthSober Look

Construction Spending increased in SeptemberCalculated Risk

Investment Outlook November 2012: ​Time To Vote!PIMCO
Our two-party system continues to play ping pong with the American people, and the electorate is that white little ball going back and forth over the net.

Hurricane Sandy Satellite Photos: Before And After – ZH
Moody’s Analytics: $50bn in economic loss from Sandyalphaville / FT

  ISM Manufacturing
Slightly better than expected – Nordea
Increased to 51.7 in October – ASA
Increased slightly in October to 51.7 – Calculated Risk
Unexpectedly higher – The Big Picture
Second Month of Expansion – dshort

G10 Weekly: Monetary policy – To infinity, and beyondNordea (pdf)
The assertion that central banks can create and control inflation under current circumstances isn’t necessarily wrong, but definitely arguable.

Danske Markets: EMEA Weekly, Week 45Danske Bank (pdf)
Impossible to postpone Polish rate cut any longer * Russian inflation growth is cooling down *

Global Credit Perspectives November 2012: ​Go for GrowthPIMCO
​Political leaders will need to work together in order to effectively address the global economy’s lingering fiscal issues and structural barriers to growth. In this environment, investors should focus on bottom-up research in specific sectors and companies that can grow significantly faster than their economies.

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