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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

EUROPE
This House Has No Confidence In Olli Rehn, Nor Anyone Else – A 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 politics – The 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.

UNITED STATES
The Waning Effect of QE? – PragCap

Fears of 1994 bond market flashback – MacroScope / Reuters

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

IN FINNISH
Palkkamaltti lisäisi työllisyyttä ja turvaisi ostovoimaa – EK