10th Apr - US Open: Waiting for Fed Minutes

Fed minutes to be published later today. Friday begins with the Eurogroup meeting. Dull otherwise.

Instead of continuously posting the regular links, they are now moved to a permanent page.

Previously on MoreLiver’s:

Wednesday EU Open: Slovenia, to B or not to B?

Tuesday US Close: Soros, Yen, LTRO

Tuesday US Open: End of EU banking secrecy?

Current Specials

Special: Bank of Japan

Special: US Employment Report (updated)

Special: ECB Watch

Special: Bailout of Cyprus (updated)

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EUROPE
Deflation and the ECB – Nordea

That the inflation rate in Greece fell below zero in March for the first time in 45 years gets quite a lot of media attention. The deflation ghost is out of the bottle again – is it really? Or has it been there for a while already?

  HOUSEHOLD WEALTH

Who’s the eurozone’s poorest, really? – alphaville / FT

Cyprus ranks near top for household wealth – FT

ECB Data: Cypriots On Average Three-Times Richer Than Germans – mni

Germans Are Poor and Italians Are Frugal. Huh? – NYT

Europe's Poorest? Look North – WSJ

ECB: German households less wealthy than Cypriots – euobserver

  PIIGS
Slovenia promises to save its own banks, as doubts grow – euobserver

Of political power and dual-currencies in Cyprus – alphaville / FT

Some post-Cyprus thoughts from Citi’s Buiter et al… first on rolling capital controls and the chances of a new Cypriot pound being forced into existence (full paper)

FANG
It's not a question of if, but only when Merkel grasps the nettle of eurozone debt mutualisation – The Telegraph

Luxembourg Turns Defense in to Offense – WSJ

Luxembourg is trying to recast the battle for its national business model as a battle for the survival of financial services in Europe.

UNITED STATES
Revisiting monetary transmission and something to look for in the FOMC minutes – alphaville / FT

Risks that slowing down the asset purchase programs could be misinterpreted, and the need to communicate this.

ASIA

China imports surge in March, generating trade deficit – beyondbrics / FT

Economists React: Data Doubts After Surprise Trade Deficit – WSJ

China posted an unexpected trade deficit of $884 million in March compounded doubts from February about the quality of China’s trade data. Analysts weigh in.

OTHER

Global Outlook Q2 2013 – Standard Life Investments (pdf)

FX Theory: The Real Mean Reversion: Comparative Cost Theory – snbchf.com

FX focus: Waiting for the FOMC minutes – TradingFloor

Ken Veksler: The main story today will be tonight in fact with the release of Federal Open Market Committee minutes and the USD story as we know it presently will be given affirmation or refuted wholeheartedly.

IN FINNISH

Pysyvätkö keskuspankkien raharuiskut hallinnassa? – Jan Hurri / TalSa

Japanin keskuspankki lisää raharuiskujensa tehoa päästäkseen maata vaivanneesta deflaatiosta ja saadakseen inflaatiota tilalle. Onnistuuko rahakoe ja pysyykö se hallinnassa, selviää aikanaan. Nyt tiedossa on vain, että liikkeelle lähtee rutosti uunituoretta rahaa – ja se, että aiemmin tällaisia raharuiskuja on ollut perin vaikea sammuttaa.

Sokkokokkien sekameteli – Vesa Varhee / TalSa

Hallituksen taannoinen sähläys osinkoverouudistuksessa muistuttaa tosi-TV:n kokkiohjelmia. Samalla se heijastaa surkuhupaisalla tavalla koko tilkkutäkkikabinetin toimintaongelmia.

Näin suuri osa saksalaisista palaisi D-markkaan – TalSa

Selvä enemmistö saksalaisista kannattaa euroa ja uskoo yhteisvaluutan tulevaisuuteen. Tieto käy ilmi tiistaina julkistetusta Forsa-instituutin mielipidetiedustelusta.

Teollisuustuotanto helmik. -6% YoY – Tilastokeskus

Teollisuuden uudet tilaukset helmik. -9,7% YoY– Tilastokeskus