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Wednesday, January 2

2nd Jan - US Open

The 2012 and 2013 specials have been updated with new material. 
 
Previously on MoreLiver’s:                  

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Roundups & Commentary
US Opening News And Market Re-Cap – Ransquawk / ZH
Frontrunning – ZH
Overnight: The Cliff Is Dead, Long Live The Cliff: Futures Soar – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Today’s front pages – presseurop
Daily press summary – Open Europe

Morning MarketBeat: Cliff Optimism May Be Short-Lived – WSJ
Broker Note Briefing – WSJ
US Fiscal Cliff Averted, Risk Appetite Increases – Marc to Market

US session ahead
Pre-market Commentary – Marketwatch
Pre-Market Trading – CNNMoney
Pre-Market – NASDAQ
Earnings & Events – The Street
MarketCurrents – Seeking Alpha

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
The eurozone will muddle through (again) – The A-list / FT
At the last European Council summit of 2012, politicians decided to go ahead with the banking union while ending their reflections on fiscal union they had initiated in June, a time of acute market stress. The message: banking union is needed; the rest is not.

Monti Shifts Into Campaign Gear – The Euro Crisis / WSJ

Euro zone factory slump deepens but Asia perks up – Reuters

If we can’t do a deal with Europe, leaving it should hold no terrors – The Telegraph

UNITED STATES
Macro Strategy – Watch US ISM – Nordea (pdf)
As for today’s ISM print our models are actually pointing towards a surprise to the upside. This is the first time we are above consensus in a macro call for over a year and we question ourselves if this is the beginning a new trend? Nevertheless, our initial reaction is to position for long carry in FX.

  FISCAL CLIFF
Fiscal cliff averted but uncertainty remains – Danske Bank (pdf)

And from the fiscal fudge-osphere – alphaville / FT

House vote steps back from "cliff" – Reuters

House Backs Tax Deal as Next Fight Looms – BB

Ten Things You Should Know About the Cliff Deal (So Far) – View / BB

Fiscal cliff averted but still plenty of policy risks – Nordea
The last-minute fiscal cliff deal is clearly a relief because it helps the US to steer clear of recession. However, while the fiscal cliff is now history, we will likely face another fiscal battle in Washington in just a few weeks’ time, with potentially negative consequences for confidence.

OTHER
Morning Briefing (EU/US): In the beginning – BNY Mellon
It's the start of a new month and year and time to update our risk calendar

Morning Briefing – Nordea (pdf)
or the summary

Stocks to soar as world money catches fire, Calvinist Europe left behind – The Telegraph
Ambrose Evans-Pritchard: Bears beware. A monetary revolution is underway.