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Wednesday, April 3

3rd Apr - US Open

I added several charts to the previous Views & Charts-post. Notably the EURUSD chart with ECB meeting days marked is a nice one, plus some sell-side charts on monetary conditions in the euro area.

Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: Driftless – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Daily press summary – Open Europe

Morning MarketBeat: Divergens Develop – WSJ
Morning Bond Update – TradingFloor
Subdued Markets Ahead of Central Banks and US Jobs Data – Marc to Market
Morning Briefing (EU/US): Hidden Treasure – BNY Mellon
  The latest COFER data highlight a telling shift in appetite amongst the reserve management community.

Bank of England preview Danske Bank (pdf)
New MPC remit will not change policy at this meeting

The Only Way to Save the Euro Is to Weaken ItWSJ
Mario Draghi will probably have to debase the currency soon if he is to save it, writes columnist Nicholas Hastings.

Europe's leaders paralysed as EMU jobless rate hits record highThe Telegraph
Eurozone unemployment reached a record 12pc in February and looks certain to ratchet higher as fiscal cuts deepen and manufacturing continues to struggle, raising the spectre of social explosion across southern Europe.

Has Germany really gone off the idea of an EU treaty change?Open Europe

Germans develop a thirst to own their homesThe Telegraph
Low mortgage rates and rising rents have prompted a nation wedded to the rental market to switch strategy.

The Meaning of CyprusProject Syndicate
Daniel Gros: The crisis in Cyprus represents an extreme and special case in many respects. But the way that the problem arose, and the solution that was finally adopted, is likely to have very important consequences for the way that Europe addresses its banking problems.

Why is Italy in a political stalemate?euobserver
Fundamental differences on how to govern Italy, not on policy, are stopping Italy's top three parties from making a deal.

Sovereign default swap market efficiency and country risk in the eurozoneBuBa (pdf)
Deutsche Bundesbank Discussion Papers by Yalin Gündüz, Orcun Kaya

Spain's credibility suffers another blow: Eurostat spots creative accountingOpen Europe

The Great European Bank Run that never was?Open Europe

Eurozone data stinks up againMacroBusiness
The Cypriot drama is beginning to wane, but if you read the MoU you’ll understand that this story is far from over…This week the Spanish government also finally announced its downgrade of its economy, bringing it somewhat in-line with its own central bank, as yet another political scandal rocks the country…Overnight was also another round of  manufacturing PMI data and there wasn’t any good news in it.

Bank of Japan Preview: Kuroda expected to leave his markDanske Bank (pdf)

Expectations reconsidered at the BoJalphaville / FT

BoJ on tap tonight – it’s a big one. ECB and BoE up as well.TradingFloor
John J Hardy: For those living under a rock, we have a trio of important central bank meetings on tap for Thursday, starting with the most anticipated BoJ meeting in modern history and then less pivotal, if still interesting ECB and BoE meetings.

Econometrics free bookBruce Hansen
This is a draft of a first-year Ph.D. econometrics textbook. This manuscript may be printed and reproduced for individual or instructional use, but may not be printed for commercial purposes.

Probe Causes Discomfort at BarclaysWSJ
‘Uncomfortable’ reading materialalphaville / FT
The Salz Review, looking at business practices at Barclays, is out.

The problem with Bitcoinalphaville / FT
SocGen comments

Suuri verovalhePauli Vahtera / IL