Google Analytics

Friday, December 7

6th Dec - US Close: ECB done, federal Europe coming

Friday's US payrolls reviewed, worrying federal developments from the eurocrats, ECB sees only black and will not turn on the lights - instead looks like it will have a match with Madrid instead. 

Previously on MoreLiver’s:

Follow ‘MoreLiver’ on Twitter or Facebook 

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

Tomorrow’s Tape: The Sandy Payrolls Report – WSJ
US: Equities End At High-Of-Day; Oil/FX/Bonds Not So Much – ZH
Morning Briefing (Asia): ECB and BOE Keep Rates UnchangedBNY Mellon
  A reminder of the conundrum facing EU policy makers

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

IIF Bank Group: Greek Debt Buyback Likely To Reach TargetWSJ

France Unemployment Rate Hits 10.3%, Youth Unemployment at Record High 24.9%; New Business Activity PlungesMish’s

Il Giornale: "The Monti Government Is Increasingly Hanging By A Thread"ZH

National parliaments 'not best' for EU's interestseuobserver
A new ideas paper on progress towards further EU integration highlights the shifting power sands for national parliaments as the European Parliament is set to become the principle democratic guardian of a future EU.

Van Rompuy’s American-style eurozoneBrussels blog / FT
Van Rompuy’s 14-page outline includes many of the ideas he’s been proffering since October, including a requirement that all eurozone countries engage in “contractual arrangements” with Brussels, committing them to economic reform plans, and the creation of a eurozone budget. Barroso’s plan has similar elements.

EU sets out detailed "map" for euro zone's overhaulReuters
European Union leaders will examine a detailed plan for completing a banking union and strengthening euro zone fiscal policy next week, with officials concerned that momentum is waning in tackling the debt crisis.

ECB discusses rate cut, depicts bleak 2013Reuters
The ECB pondered an interest rate cut on Thursday and predicted the euro zone economy would shrink again in 2013, leaving the door open to a possible reduction in borrowing costs early next year.

Downbeat ECB knocks wind out of euro bullsReuters
The euro languished at one-week lows against the greenback on Friday, having suffered a major setback after the ECB painted a bleak outlook for the euro zone and discussed cutting interest rates.

Draghi Leaves Rate-Cut Door Ajar as ECB Reduces ForecastsBB

Draghi’s ready to get negativealphaville / FT

Draghi turns slightly dovishNordea

ECB meeting - Rate cut discussedDanske Bank (pdf)

ECB afterthoughts: No new help, Draghi throws ball back to MadridSaxo Bank

Introductory statement to the press conferenceECB

Macroeconomic projections for the euro areaECB (pdf)

ECB Leaves Rates Unchanged, Significantly Downgrades 2013 Economic Forecast; Is Italy Falling Into the Abyss?Mish’s

Asmussen: ECB Sees Weaker Outlook in Germany, France and NetherlandsWSJ
The euro zone's strongest countries are facing weaker economic growth, an executive board member for the European Central Bank said.

Bloomberg's 'Ultimate' US Fiscal Cliff And Debt Primer Slideshare via ZH

The jobs report Friday is going to be a giant messWonkblog / WP
One approach is simply to filter out the categories of employment that are most sensitive to disruption from the storm and holiday seasonal fluctuations, and focus on those that remain.

Employment Situation PreviewCalculated Risk
The employment related data was pretty weak in November, and I expect the unemployment rate to increase and hiring to be weak; I think less than 80,000 jobs were added in November.

Jobs Report Likely to Tell Two Different TalesWSJ

Guessing Nonfarm Payrolls is a JokeThe Wall Street Examiner

G10 Weekly: Swedish winter stormNordea Bank (pdf)
Sweden: Winter storm * Fed: From twist to tango? * AUD: The IMF boost * Data watch: US NFP at 0

Follow ‘MoreLiver’ on Twitter or Facebook