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Tuesday, July 16

16th Jun - US Close: Ben's Show Tomorrow

Previously on MoreLiver’s:

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Roundups & Commentary
News – Between The Hedges
Markets – Between The Hedges
The Closer – alphaville / FT
US: Stocks Break 10-Day Winning Streak With 0.3% "Plunge" For Worst Day In Two Weeks – ZH

The euro zone's sick labour marketsFree exchange / The Economist
Today’s Employment Outlook from the OECD, an intergovernmental think-tank based in Paris, makes depressing reading, above all for the euro area. This annual health-check of labour-market trends highlights the abysmal performance of the single-currency zone.

When the cyclical becomes structuralFree exchange / The Economist
The OECD's annual employment report makes for sombre reading. Our correspondents say that policymakers in Europe, where projections remain especially poor, need to focus on creating demand

EU Commission proposes Single Resolution MechanismEconoMonitor
On 10 July 2013, the EU Commission proposed a Single Resolution Mechanism (SRM), a complement to the Single Supervisory Mechanism (SSM) and one of the building blocks of EU Banking Union.  The SRM is designed to ensure that the resolution of a failing bank can be managed efficiently with minimal costs to taxpayers and the real economy.

Forward guidance, the ECB wayalphaville / FT
That’s comforting unless you consider Steen’s point “that the ECB council may know or fear something about the economy we do not, which is why it managed to convince the hawks to back forward guidance.”

On refrigerants and Cypriot eurosA Fistful of Euros
Capital controls continue in Cyprus. They’re getting more refined, but that could make them easier to retain. No one is having much success raising concerns about what this means for European integration.

For the Fed, Europe Represents the Road Not TakenWSJ
…the subtext of the speech will be: we got it right; we’re still right; and if you want to know what would have happened if we’d listened to some of you people, just look at Europe.

After Bernanke Report Time Change, Traders Must Shift Strategy WednesdayWSJ
The House committee announced Monday that Mr. Bernanke’s prepared remarks will be released at 8:30 am. Usually, the headlines hit at 10:00 am, simultaneously with the scheduled start of the Fed chairman’s presentation.

Fed’s George: Time to Taper Fed Bond Buys, End in 2014WSJ

US Economic BallisticsMacro Man
A continuation of recent growth trends will require a successful growth handoff. The improving employment picture is a positive, but TMM thinks that ultimately, improvements in real wage growth will be needed. That could happen on its own as the unemployment rate continues to decline –

A New Glass-Steagall ActPIIE
Simon Johnson: On July 11, four senators unveiled the 21st Century Glass-Steagall Act. The pushback from people representing the megabanks was immediate but also completely lame. The weakness of their arguments against the proposed legislation is a major reason to think that this reform idea will ultimately prevail.

361 Capital Weekly Research BriefingThe Reformed Broker

A very clear explanation of China's economic woesWonkblog / WP
If you want to understand where China is right now, you have to go back and look at China’s growth model for the last 30 years, which has been a classic export-led growth model.

OECD Doesn’t See Unemployment Falling Until Late 2014WSJ

Kauppalehti: Asuntokaupat lähes puoleen Helsingin, Espoon ja Vantaan alueellaVerkkouutiset

Danske Bankin Uotila: Talous nousuun jo syksylläMTV3