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Monday, December 10

10th Dec - US Open


Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: The Tremors Are Back: JP Recession, CH Trade, EU Periphery – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Today’s front pages – presseurop
Daily press summary – Open Europe

Morning MarketBeat: Fiscal Hopes Drive Stocks – WSJ
Broker Note Briefing – WSJ
FX Drivers and ThemesMarc 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
An (extended) offer from Greecealphaville / FT
The Greek PSI bond buyback now closes at 12pm London time on December 11.

A Strong Core Keeps the Euro FlexibleWSJ
Despite the economic slowdown, despite the worries about Germany heading into the recession and despite the higher borrowing costs that Italy will now have to burden, investors remain confident in the euro’s core. How long this will last remains to be seen.

Europe clings to scorched-earth ideology as depression deepensThe Telegraph
Like the generals of the First World War, Europe’s leaders seem determined to send wave after wave of their youth into the barbed wire of tight money, bank deleveraging, and fiscal austerity a l’outrance.

EU receives Nobel for building "continent of peace"Reuters
The European Union will receive the 2012 Nobel Peace Prize at a ceremony in Oslo on Monday, honored by the Norwegian committee for bringing decades of peace and democracy to Europe after the horrors and division of two world wars.

Protesters say European Union does not deserve Peace PrizeReuters
Around a thousand members of left-wing and human rights groups marched in Oslo on Sunday to protest against the award of the Nobel Peace Prize to the European Union.

Germany Social Democrat Steinbrueck Pledges to Unseat MerkelBB

Spain Bailout Caution Grows as Business Lobby Backs RajoyBB

Europe’s Banks Seek Basel Impact Study on Eve of ImplementationBB

  ITALY
Italy Vote Will Test EU Nobel Winners After Greek BuybackBB
 
Silvio is back, Mario is out: What lies ahead for Italy?Open Europe

Italy gives new bite to euro zone crisisMacroScope / Reuters

Does Monti Matter?WSJ

UNITED STATES
Research US - Tug of warDanske Bank (pdf)
We expect the bumpy road to continue in the short term as a tug of war between improved fundamentals and short-term headwinds continue. Looking further into next year, we see good reasons why the economy should finally be able to reach sustained growth above trend.

U.S. Economic Trend UpdateThe Capital Spectator

FOMC preview: Another monetary policy boostDanske Bank (pdf)

ASIA
China’s trade data for November disappointASA
China trade: slower, slowing, not slowest – WSJ

China’s November property resurgencealphaville / FT

Japan, bringing you recession since Q2alphaville / FT
The third quarter was bad, but it was a revision of Q2 GDP data — from 0.1 to -0.1 per cent, seasonally adjusted and annualised — that puts Japan in official recession

OTHER
Morning Briefing (EU/US): All or nothingBNY Mellon
A lack of growth remains the Euro-area’s, and hence Germany’s, fundamental problem

FOMC, possible "QE4", SNB and Japan election - a busy week aheadSaxo Bank
The currency market has a lot to busy itself with this week, with the FOMC and a “QE4” likely in the wings on Wednesday, followed by a possibly pivotal SNB meeting on Thursday and then Japan’s election over the weekend.

Global Economy Week AheadReuters
Fed's monetary stimulus meets 'fiscal cliff': The contrast could not be sharper: Economists are all but certain the U.S. Federal Reserve will expand its monetary stimulus this week, but they have no clue how the fiscal battle in Congress will shake out.

Preview Of The Key Events In The Coming WeekZH

New Financial Forecasts – Renewed optimism testedNordea (pdf)
Recent confidence data have on balance offered positive surprises supporting hopes that better times lie ahead, even though the hard data has been more mixed (or read the summary)

IN FINNISH
Ei tässä mikään auta - maksat vaan Kreikat, Portugalit, Espanjat, Kyprokset... – TE
Aalto-yliopiston professori Vesa Puttonen on julkaissut tänään kirjan Velka tikittää - hyödy siitä! Hän kirjoittaa eurokriisin lyhyen historian.

Kauemmas kuilun partaalta?Vesa Varhee / TalSa
Parin viime viikon uutiset vihjaavat talouden yleisen tilanteen palailevan vähitellen kohti normaalia.


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