Google Analytics

Thursday, January 17

17th Jan - US Open

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:                  

Follow ‘MoreLiver’ on Twitter or Facebook

Roundups & Commentary
Frontrunning – ZH
Overnight: Futures Refuse To Remain GroundedZH
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

MEPs struggle to keep Eurobonds idea aliveeuobserver
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.

Cameron: referendum on EU opt-outs, not membershipeuobserver
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.

London Finance Hub Threatened by EU Exit, Sweden’s Borg SaysBB

Cameron’s EU Speech Puts U.K. Economy at Risk, Cable SaysBB
UK's Cameron risks "dangerous gamble" on EU: LibDem ministerReuters

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 2013ECB (pdf)

Statistics Pocket Book, January 2013ECB (pdf)

Confidence indicators and economic developmentsECB (pdf)

Intra-euro area trade linkages and external adjustmentECB (pdf)

Greece: IMF Executive Board Completes First and Second Reviews Under Extended Fund Facility Arrangement and Approves €3.24 Billion DisbursementIMF

Portugal: IMF Completes Sixth Review Under an EFF Arrangement, Approves €838.8 Million DisbursementIMF

CDS on US Sovereign Debt Q&AISDA
hat tip to Alea – this just might become important stuff ahead of the debt ceiling.

Koo, Posen, and other Abenomics dissentersalphaville / FT
Koo: There is simply no conclusive evidence that ending deflation will end the recession that has caused so much economic pain.

Morning Briefing (EU/US): Better to jaw jaw than to war warBNY Mellon
Is the ECB destined to play a pacifist role in 'currency wars'?

Macro Strategy – Watch Chinese GDP and US consumer confidenceNordea (pdf)
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.

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-uralleEK

Pk-yritysten kasvustrategiat toteutuvat käytännössäEK