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Wednesday, December 19

19th Dec - EU Open




Previously on MoreLiver’s:

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Roundups
News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT

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

MORNING BRIEFINGS
3 numbers to watch: DE Ifo, BOE MPC Minutes, US Housing StartsSaxo Bank
Germany's Ifo Survey of manufacturers is expected to hold steady or rise. The release of BOE's MPC minutes may drop hints about the central bank's outlook on fighting inflation. US Housing starts are likely to slump in November, but only temporarily.

Market Preview: Focus on German Ifo Indices and BoE minutesSaxo Bank
European markets are expected to open firmer Wednesday amid optimism over the progress in the US budget talks and after S&P upgraded its credit rating on Greece. Investors are keeping an eye on German Ifo indices and the BoE minutes due later today.

Danske DailyDanske Bank (pdf)
US up (fiscal cliff, monetary easing), Nikkei up more than 1.5%. The ECB is the only major central bank not expected to deliver more monetary easing - as a result EUR is trading close to a 7-month high against USD this morning. NAHB Housing Market Index hit a 6.5-year high in December. Today: Ifo set to have risen in December * Norges Bank to keep rates on hold * The Czech central bank might announce direct intervention in the FX market to ease monetary conditions * More good news for the US housing markets?

AamukatsausNordea (pdf)
Riksbankilta seuraava koronlasku helmikuussa * Rohkaiseva kehitys jatkuu USA:n rakentajien luottamuksessa * Toiveet USA:n budjettineuvotteluiden etenemisestä vahvistivat riskinottohalukkuutta

AamukatsausTapiola (pdf)


Osakemarkkinan nousu ralli sai jatkoa, kun usko USA:n budjettikiistan ratkaisuun kasvaa.
SRV emittoi EUR 45m hybridilainan 9.5% kupongilla. Osakefutuurit marginaalisesti plussalla, indikoiden nousuavausta pörssiin. Shortatut OMX HEX osakkeet – shortit lisääntyneet kuukauden takaisesta


MarkkinakalenteriNordnet
MarkkinakalenteriTaloussanomat


EUROPE
Only one in eight Danes would definitely vote Yes to euroDanske Bank (pdf)

UNITED STATES
US corporate credit market looking extraordinarily richSober Look

Bank Deposits Surge $2 Trillion More Than Loans: Credit MarketsBB

The Most Critical 48 Hours In The Fiscal Cliff Melodrama Have BegunZH

T.Rowe Price US Economic Outlook 2013 – BI

Jeff Gundlach On The Fiscal Cliff Circus And Why Investors Should Hold Cash Through 2013ZH

ASIA
Bank of Japan to mull 2 percent inflation target as Abe turns up heatReuters
The Bank of Japan will ease monetary policy this week and consider adopting a 2 percent inflation target no later than in January, sources say, responding to pressure from next Prime Minister Shinzo Abe for stronger efforts to beat deflation.

Abe 2.0 Begins - Step 1 Remove All Budget Limits; JGB Yields CrackZH

OTHER
Deutsche's 13 Outliers For '13ZH

Gift Giving Guide for the Traders in Your LifeThe Big Picture