19th Mar - US Close

The Cyprus-post has been updated, again. FOMC press tomorrow, though Cyprus could steal the show.

Previously on MoreLiver’s:

Tuesday US Open: Cyprus still, Fed Ahead

Tuesday EU Open

Monday US Close: Made the Hedge

Special: Bailout of Cyprus

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Roundups & Commentary

News – Between The Hedges

Markets – Between The Hedges

The Closer – alphaville / FT

Tomorrow’s Tape: FOMC meeting, Bernanke press – WSJ

US: Gold Up, Bonds Up, USD Up, VIX Up... Dow Up – ZH

Morning Briefing (Asia): Cyprus Parliament Rejects Bank Levy Bill – BNY Mellon

EUROPE

Draghi proves masterly at manipulating the euro – qfinance

There was near universal agreement among those I spoke with that as far as currencies are concerned, we have been living in a headline driven world.

Impact Imminent? – Bruce Krasting

What happens if Cyprus does a “drop out” of the EU? That result immediately makes a lie of Mario Draghi’s words that the Euro was Uber-Ales. This is precisely what Super Mario said “would never happen”… Given that there is zero chance that Italy and Spain will do the necessary begging, the value of the promised Draghi “put” is now also zero.

French Minister Tasked With Fighting Tax Fraud Resigns For Having A Secret Swiss Account – ZH

UNITED STATES

FOMC preview: QE programme in focus – Danske Bank (pdf)

A turning point – Free exchange / The Economist

Tomorrow, the Fed will release new economic projections, and Ben Bernanke will answer questions on Fed policy at an afternoon press conference. I suspect that the thrust of many of those questions will be: when are you going to start tightening?

Is the Fed's crystal ball rose-colored? – Wonkblog / WP

On Wednesday afternoon, the leaders of the central bank will release their forecasts for  levels of economic growth, unemployment and inflation they expect to see over the coming three years.

OTHER

Market Update: Risk-Off, Reality-On – ZH

The end of an era? – Free exchange / The Economist

Capital flow restrictions will be very useful to countries interested in using a bit of inflation to chip away at high debt levels. And that includes just about everyone.

New financial forecasts – Nordea (pdf)

Here are the usual financial forecast slides with our new financial forecasts published this this morning in Economic Outlook (summary).

361 Capital Weekly Research Briefing – The Reformed Broker