Greece and Portugal receive their payments, decides IMF. German economy minister pressures ECB to return to "mandate" - so strong euro today. JPY weak, and the USDJPY high is tested after a correction lasting only two days. Tomorrow the much anticipated speech on UK's EU-relations from the prime minister Cameron.
Previously on MoreLiver’s:
Roundups &
Commentary
Frontrunning – ZH
Overnight: Futures
Refuse To Remain Grounded – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Daily press summary – Open
Europe
Morning MarketBeat: A Warning About the Debt Ceiling –
WSJ
Broker Note Briefing – WSJ
Euro Bounces Back – Marc to
Market
EUROPE
MEPs struggle to keep Eurobonds idea alive – euobserver
MEPs have
kept alive support for joint liability Eurobonds despite critics describing the
plan as "a socialist loonie-land" and a way to create a transfer
union by the back door.
UK
Cameron: referendum on EU opt-outs, not
membership – euobserver
British
leader Cameron has given a foretaste of his Amsterdam speech by saying he supports a
referendum on UK opt-outs but not on EU membership.
ECB
Euro calm must not cost price stability: German
economy minister – Reuters
Measures to
combat the euro zone crisis must not come at the cost of price stability,
German Economy Minister Philipp Roesler said on Thursday, a day after he urged
the ECB to return to its core mandate as soon as possible.
Did he really mean to say that? – TradingFloor
Last week
was enlivened by the impression given by Draghi that interest rate cuts
received not even a modicum of attention at the ECB meeting, sending the Euro
soaring. I really can't help thinking that he must be regretting his choice of
words.
Monthly Bulletin, January 2013 – ECB (pdf)
Statistics Pocket Book, January 2013 – ECB (pdf)
Confidence indicators and economic developments – ECB
(pdf)
Intra-euro area trade linkages and external
adjustment – ECB
(pdf)
PIIGS
Greece: IMF Executive Board Completes First and Second Reviews Under Extended
Fund Facility Arrangement and Approves €3.24 Billion Disbursement – IMF
Portugal: IMF Completes Sixth Review Under an EFF Arrangement, Approves €838.8
Million Disbursement
– IMF
UNITED STATES
CDS on US Sovereign Debt Q&A – ISDA
hat tip to Alea – this just might
become important stuff ahead of the debt ceiling.
ASIA
Koo, Posen, and other Abenomics dissenters – alphaville
/ FT
Koo: There
is simply no conclusive evidence that ending deflation will end the recession
that has caused so much economic pain.
OTHER
Morning Briefing (EU/US): Better to jaw jaw
than to war war – BNY
Mellon
Is the ECB
destined to play a pacifist role in 'currency wars'?
We enter these data points being long risk. A trough
in China could
spur our commodity strategy as well as risk on trades in FX. In terms of US
consumer confidence data we have seen that confidence has sharply deviated from
actual spending, a rebound in the consumer data would certainly be great news
going forward. As a strategy we continue to see more selling pressure in US rates
compared to EU.
IN FINNISH
Työvoimapulaa ei sitten tullutkaan -
"Voi kun näkisin semmoisen päivän" – Demari
Eläkeyhtiö Ilmarisen
talous- ja eläkepolitiikasta vastaava johtaja Jaakko Kiander ei yhdy kuoroon
vaan näkee uhkan toisaalla. Se on sama minkä taloushistoria kertoo: Suomessa on
kärsitty vajaatyöllisyydestä melkein aina.
ICT 2015 -työryhmä: Suomi takaisin
kasvu-uralle – EK
Pk-yritysten kasvustrategiat toteutuvat
käytännössä – EK