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Tuesday, March 19

19th Mar - US Close

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

Previously on MoreLiver’s:

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Roundups & Commentary
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

Draghi proves masterly at manipulating the euroqfinance
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 AccountZH

FOMC preview: QE programme in focusDanske Bank (pdf)

A turning pointFree 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.

Market Update: Risk-Off, Reality-OnZH

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 forecastsNordea (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 BriefingThe Reformed Broker