Google Analytics

Thursday, July 11

11th Jul - US Open

Previously on MoreLiver’s:

Follow ‘MoreLiver’ on Twitter or Facebook

Roundups & Commentary
Market recap – RanSquawk / ZH
Frontrunning – ZH
Overnight: Bernanke Sends Stocks To New All-Time Highs – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Midday Express (EU daily news) – Europa
Daily press summary – Open Europe
  Germany rebukes Commission proposal for eurozone bank resolution mechanism
Morning MoneyBeat: Market’s Trading Tech for Fed – WSJ
Morning Bond Update – TradingFloor
Thoughts on FX Price Action  Marc to Market

Reviving credit growth in the euro areaECB
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Paris Europlace International Financial Forum “Growth and Investment Opportunities in Europe”, Paris, 11 July 2013

ECB hasn't tied its hands with guidance, says WeidmanReuters
The ECB has not "tied itself to the mast" with its use of forward guidance on low interest rates, and could raise them if inflationary pressures emerge in the future, ECB policymaker Jens Weidmann said on Thursday.

Draghi’s Time Horizon for Rates Seen to Exceed a YearBB
For Mario Draghi, “an extended period of time” lasts longer than a year, according to economists surveyed after the ECB president used the phrase in a pledge to keep interest rates low.

Monthly Bulletin, July 2013ECB (pdf)
Statistics Pocket Book, July 2013ECB (pdf)
Is there a risk of a creeping rise in trade protectionism?ECB (pdf)
The Eurosystem collateral framework throughout the crisisECB (pdf)

Turkish troubleMacroScope / Reuters
Turkey spent $1.3 billion of reserves Tue, $2.25 on Monday, reserves now below 40bn…Italy holds auction…ECB’s Coeure and Weidmann speak…

Portugal political crisis deepensReuters
Portugal's political crisis deepened on Thursday after the president rejected a plan to heal a government rift and critics accused him of igniting a "time bomb" by calling for early elections next year.

Brussels says wants a stable PortugalReuters

Rajoy Punishes Exporters Sustaining Spain’s EconomyBB

The Fed (Sort of) Speaks, but is the Bond Market Really Listening?naked capitalism

Shadow financing charted in China, and a property catch-upalphaville / FT
Property developers, particularly the small ones, have had to go begging to trust companies and underground lenders at interest rates usually in the low to mid teens and for something like 6 months to two years. The duration mismatch is pretty obvious.

The China slowdown effectbeyondbrics / FT
Inflation below target; slumping exports; growth forecasts down – it’s not been a good week for China data. The market response? Time to buy!

BOJ Beat: Five Takeaways From Kuroda News ConferenceWSJ

Analysis: Forward guidance more than passing fashion for central banksReuters
"Watch what we do, not what we say," was the central bank mantra for generations. But no more.

More Central Banker Brass BallsMacro Man

Nominaalisen talouden romahdus johtaa valtion velkaantumiseen – valtion talouden tervehdyttäminen on haluttaessa helppoatyhmyri

Asuntojen hinnat laskivat EU:ssa - Suomi polkee vastavirtaanTE

Poliittiset taikaluoditMarko Kivelä / US Puheenvuoro