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Tuesday, February 26

26th Feb - US Open

Notice that all links related to the Italian election are in the Special. Bernanke's testimony at 15:00 GMT the next event.

Joke of the Day: Berlusconi's attempt to leave his young girlfriend in the background backfired, as markets began to wonder if the old playboy had lost his touch and libido. The voters were scared that if they would have voted for Berlusconi, the previous scandalous headlines could have ended soon. Thus it was better to vote a ragtag group of ex-communists and Brussels-introduced technocrats to form a government together. This was the best way to guarantee headlines for the future, commentators said.

Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: Unhappy As Europe Is Broken Again: Italian Yields Soar – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Daily press summary – Open Europe
  Anti-euro comedian Beppe Grillo’s Five-Star Movement becomes largest party in Italian elections upset; Consensus emerges among political leaders that re-run elections must be avoided

Morning MarketBeat: Europe Rears Ugly Head – WSJ
The Italian Job – Marc to Market
Morning Briefing (EU/US): Rage against the machine – BNY Mellon
  The EU's medicine no longer appears palatable for much of Italy

Italy Election: could it ever happen to the UK?Capitalists@Work

Spain Government Feels Italian HeatWSJ
The rapid spread of financial contagion to Spain from Italy's uncertain election result put the Spanish government under pressure early Tuesday.

Nordea Risk Perception PublicationNordea (pdf)
Arrow pointing at deteriorated risk sentiment near term. But, don’t fear, Draghi is here. (summary)

Italy’s political earthquake – and now Bernanke's testimonyTradingFloor
This Italian election results has obviously generated extreme uncertainty – and for good reason. And now we have the Fed Chairman Bernanke’s semi-annual testimony before Congress. Volatility to stay high.

Trade protectionism looms next as central banks exhaust QEThe Telegraph
Officials at the US Federal Reserve may be more worried than they have let on about the treacherous task of extricating America from quantitative easing. This is an unsettling twist, with global implications.

Tammikuun työttömyysaste 8,7 prosenttiaTilastokeskus

Rahoitustilastot – vuosikatsausSuomen Pankki
Asunto- ja yrityslainojen vuosikasvu hidastunut

Filosofi pääministerin pesukoneessaJukka Hankamäki
Himanen ja ”hyvät” veljetKari Uusikylä / Pohjalainen