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Thursday, February 28

28th Feb - EU Open

Previously on MoreLiver’s:

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

3 Numbers to Watch: FR consumer spending, German jobless, US GDPTradingFloor
Last month’s read on spending for durable goods in France will be closely analysed for clues on the Eurozone's macro trend. Meanwhile, the crowd is looking for a modest bit of good news on unemployment in Germany and fourth-quarter GDP in the US.

Market Preview: German unemployment and US GDP in spotlightTradingFloor
The recent reassurances from the Fed and the ECB heads to continue with their current monetary easing stance is likely to help European markets open firmer Thursday. Today, markets eye revised US GDP and other macro releases in the US and Europe.

Danske DailyDanske Bank (pdf)
Prime Minister Abe nominates Kuroda as new BoJ governor. Less fear of a political deadlock in Italy as investors do not shun Italian debt. More strong housing data out of the US. Market movers today Chicago PMI, Retail sales Norway and Sweden, Draghi speech

AamukatsausNordea (pdf)
Automaattiset menoleikkaukset lähestyvät USA:ssa * Euroalueen luottamuksen piristyminen laiha lohtu Italian vaalien jälkeen * Kuroda ehdolla BoJ:n puheenjohtajaksi

AamukatsausTapiola (pdf)

Osakemarkkinoilla nousua vahvojen makrolukujen siivittämänä. Euroalueen talousluottamus kohentui ja USA:ssa saatiin puolestaan asuntomarkkinoilta jälleen positiivista dataa. EKP:n Draghi kommentoi eilen jatkavansa elvytystä (jatkoa FED:in vastaavaan kommenttiin). Osakefutuurit plussalla, indikoiden nousuavausta pörssiin. Kevään 2013 osinkotuotot paremmuusjärjestyksessä: Kovimmat tuotot: Elisa 8,2%, Sanoma 7,6%, Fortum 7,0%, UPM-Kymmene 6,9%, Aktia 6,8%. Osinkojen irtoamiskalenteri lisätty.


(audio) Weekly with Gideon Rachman: Instability rules in ItalyThe World / FT
Italian national elections have ended in chaos and the voters’ message is that they are tired of austerity and the political elite. The country faces a hung parliament after votes were split between a former comedian, an ex-prime minister who faces corruption charges, and the centre-left, who won narrowly in the lower house. Mario Monti, the technocratic prime minister who was appointed 15 months ago, came a distant fourth place. In this podcast, Guy Dinmore, Rome correspondent, Peter Spiegel, Brussels bureau chief, and Ferdinando Giugliano, leader writer, join world news editor Shawn Donnan to discuss the unfolding drama, which could take weeks to resolve.

Ben Bernanke to Congress: You're doing it wrongWonkblog / WP
There seem to be no serious monetary policy doves in Congress… The toughest real talk, actually, tends to come from Bernanke himself, who uses his occasional visits to the Hill to politely, opaquely scold Congress about their approach to fiscal policy.

Know Your Fed ChairsTim Duy’s Fed Watch
Tennessee Senator Bob Corker (R) went on the offensive during the Q&A period of Federal Reserve Chairman Ben Bernanke's Senate testimony this week.

Waiting for the sequesterThe World / FT
Friday. That is the day when sequestration – automatic cuts to US government spending – kicks in. One of the areas that is likely to be hit first is air travel – with predictions that there will be cut-backs in staff on air-traffic control, security lines and customs and immigration. To be fair, it is unlikely that those cuts will be felt as soon as this weekend. But nobody is quite sure – so it’s probably best to be getting out of the country, before the lines get too long.

Cuts unlikely to deliver promised budget savingsReuters
The so-called "sequester" is likely to yield less than half of the $85 billion in budget savings promised on paper, reflecting the probability that the spending cuts will hurt the economy and doing little to restrain federal debt over the long term.

Kysymyksenasettelu EU-kansanäänestyksessäOlli Pusa / US Puheenvuoro

Italian vaalitulos hajottaa EuronJuha Lehtinen / US Puheenvuoro