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Wednesday, January 2

2nd Jan - EU Open: Cliff No More

Back to regular posting after the holidays!  Fiscal cliff deal done - or is it? Markets think so.

Previously on MoreLiver’s:                  

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

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

3 Numbers to Watch: DE PMI, UK CIPS/PMI, US ISMSaxo Bank
Updates on manufacturing activity in Germany, Britain, and the US are expected to bring mixed news in the new year’s first round of macro releases.

Market Preview: US averts fiscal cliff; EU and US PMIs eyedSaxo Bank
European markets are expected to open higher Wednesday after the US House of Representatives and the US Senate approved a budget bill to avert the fiscal cliff. Meanwhile, markets are watching manufacturing data across Europe and the US today.

Danske DailyDanske Bank (pdf)
US Congress passes tax deal – immediate fiscal cliff avoided. Chinese PMIs indicate continued expansion in the manufacturing sector. Markets start the new year in risk-on mode. Market movers today: Sweden: PMI Eurozone, Germany and France: PMI (final revision), UK: PMI, US: ISM

AamukatsausNordea (pdf)
Verojyrkänteestä vauhtitöyssy * USA:n ostopäälliköt ja työllisyysluvut vuorossa * EURUSD noussut selvästi verojyrkännesovun myötä

AamukatsausTapiola (pdf)
Osakemarkkinoille saatiin positiivinen startti uudelle vuodelle, kun maan kogressi hyväksyi uuden budjetin. Budjetti sopu poistaa epävarmuuden USA:n tulevan vuoden verolinjasta.


The Fiscal StiffMarc to Market

Perspective on the DealKrugman / NYT

The Cliff is Dead, Long Live the CliffMacro and Markets

Thoughts on the Fiscal DealTim Duy’s Fed Watch

Early Thoughts on the Fiscal Cliff Deal….PragCap

The Fiscal Fudge – early analysts’ reactionalphaville / FT

Five things to know about the House's fiscal cliff voteWonkblog / WP

The lessons of the fiscal cliffWonkblog / WP

Fiscal Cliff, the non-dealSaxo Bank

Egyptian pound hits record lows; banks running out of dollarsSober Look

China: Mixed PMIs but it still looks like a happier New YearDanske Bank (pdf)

Asian PMIs: happy new year?beyondbrics / FT

The Japan Story Continues to EvolveTim Duy’s Fed Watch

What's moving Japanese markets?Free exchange / The Economist