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Monday, March 18

18th Mar - US Close: Made the Hedge

An article of mine just 'made the hedge' - was featured on Zero Hedge. Wooo!

I just updated the "Cyprus Special". Next stop will be the FOMC (Tue-Wed), although the minutes from the meeting (to be released later) are probably of greater interest than the press statement on Wed.

Previously on MoreLiver’s:
Weekender: The World (Cyprus, IMF’s EU-assessment)
Weekender: Weekly Support (last week, next week)
Weekender: Best of the Week (from the ending week)

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Roundups & Commentary
Markets – Between The Hedges
The Closer – alphaville / FT

Tomorrow’s Tape: FOMC Meeting, Housing Starts, Adobe Earnings – WSJ
Europe: Spain And Portugal Dump But European Day Saved By US Pump– ZH
US: Cyprus Hill Of Worry Proves Too High For Stock Ramp – ZH
Morning Briefing (Asia): Cyprus Crisis Ends Global Equity Rally – BNY Mellon

This House Has No Confidence In Olli Rehn, Nor Anyone ElseA Fistful of Euros
But isn’t this a bit, you know, 2008? If there was any point to the policy of the European powers-that-be, surely it was that this stuff was meant to be over? Instead, we are landed with a sort of permanent state of emergency. Why isn’t anybody sorry? Why isn’t anybody responsible?

The time inconsistency of austerity politicsThe Current Moment
A policy framework dedicated towards the curtailment of expansionary policies has given us a European continent saddled with debt and a global debt crisis. There is something more to this than the theory of the time inconsistency of optimal policy rules.

The Waning Effect of QE?PragCap

Fears of 1994 bond market flashbackMacroScope / Reuters

FX Comment: Oops they did it againNordea
Cyprus - be cautious, but don't panic. It's not the first "surprise" from the EMU leadership, and probably not the last.

Palkkamaltti lisäisi työllisyyttä ja turvaisi ostovoimaaEK