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Thursday, December 20

20th Dec - US Close

From Nordea's weekly.


Previously on MoreLiver’s:

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

Tomorrow’s Tape – WSJ
Morning Briefing (Asia): "Risk On" Atmosphere Still Prevails – BNY Mellon
US Summary: Equities Jump As Risk-Correlations Slump – ZH

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
Europe’s Fiscal Integration and Other Thoughts on the Euro Area in 2013PIIE
In response to several inquiries1, I offer a few more comments on Europe in 2013, in particular why I do not view a delay in euro area fiscal integration as a disaster, why the United Kingdom will not leave the European Union and what I view as the major downside risk in 2013.

European Union: Financial Sector Assessment, Preliminary ConclusionsIMF

Commission backs latest tranche of €39 billion Spanish bank rescueeuobserver

Cyprus Bonds Slump To 3-Month Lows As IMF Demands HaircutsZH

ESRB Risk DashboardESRB (pdf)
The dashboard is a set of quantitative indicators and not an early-warning system. Users may not rely on the indicators as a basis for any mechanical form of inference.

UNITED STATES
  FISCAL CLIFF
The Three "Plan B" FX-Response ScenariosZH

What progressives are pushing for now in a fiscal cliff dealWonkblog / WP

  HOUSING
Another look at US household formation, and why it mattersalphaville / FT
James Sweeney of Credit Suisse has written one of the more optimistic (and convincing) notes we’ve come across about the near-term trajectory for US housing.

Existing Home Sales in November: 5.04 million SAAR, 4.8 months of supply – Calculated Risk
Existing Home Sales: Another Solid Report – Calculated Risk
Existing Home Sales: The Increase in Conventional Sales – Calculated Risk
Final Q3 GDP 3.1%, Government, Inventories Account For Half; Fixed Investment Negligible – ZH

ASIA
China: "Rebound Is Based On Stimulus, Not Real Strength"ZH

OTHER
Chart Of The Day: From Here To QEternity - Here Come The Central PrintersZH

Business Insider’s 70 Best Charts of 2012PragCap

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