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Wednesday, May 1

1st May - US Close

See the two specials for the central bank coverage.

Previously on MoreLiver’s:

Current Specials:

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Roundups & Commentary
Markets – Between The Hedges
Daily Interest Rate Monitor – Global Macro Monitor
The Closer – alphaville / FT

Low Euro-area inflation – good news or bad?Nordea
The Euro-area flash estimate for inflation in April fell to 1.2%! This follows a reading of 1.7% in March and we have looked a bit deeper into a few questions.

Eurozone risks Japan-style trap as deflation grinds closerThe Telegraph
The eurozone is one shock away from a Japan-style deflation crisis after a key measure of prices fell to the lowest since the launch of the single currency.

Baltic BrouhahaKrugman / NYT
They can’t have it both ways, claiming that austerity is just what troubled economies need and then excusing the limits of Latvia’s performance by saying that the previous boom was an illusion.

Russia’s 20 Biggest Billionaires Keep Riches From PutinReuters
The billionaires, most of whom built their fortunes during the violent and unpredictable post-communist economic environment, use the entities to manage, preserve and conceal their wealth -- a tactic that has drawn the ire of Russian President Vladimir Putin.

Uncertain Prospects for Italy and CyprusPIIE
Installation of a new government in Italy and the first effects of the newly approved bailout in Cyprus provide some modestly optimistic data points for an otherwise weak euro area outlook.

Another Look at Who has Been Buying Spanish DebtMarc to Market

Slovenia’s ratings: why so varied?beyondbrics / FT
The downgrade leaves Slovenia in something of an odd position: it now has the widest range of ratings from the three main agencies out of any sovereign. Why the spread?

ISM Manufacturing index declines in April to 50.7Calculated Risk, Mish’s, ZH, Bespoke, Reuters, Reuters

Stock Analysts Tell All!WSJ

The A-b-e Of EconomicsFistful of Euros

Europe's Selective LiberalismReason
In Europe, social tolerance has tight limits.

The Prophets of Oak RidgeWP
Last summer, in the dead of night, three peace activists penetrated the exterior of Y-12 in Tennessee, supposedly one of the most secure nuclear-weapons facilities in the United States. A drifter, an 82-year-old nun and a house painter.

Kathleen Frydl on the drug war: ‘Here we have total and complete failure.’WP