The richest 200 people
have about $2.7 trillion, which is more than the poorest 3.5 billion people,
who have only $2.2 trillion combined.
Previously on
MoreLiver’s:
Roundups
News roundup – Between The
Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
Asia Morning MoneyBeat: Can Abe Deliver? – WSJ
MORNING BRIEFINGS
Today’s updates for
the Chicago Fed National Activity Index and existing home sales will provide
new perspective on the US economic outlook. Meanwhile, keep an eye on
oil prices, which have rallied in recent weeks.
European markets are
expected to open in positive territory Monday. With a light European macro
calendar, investors keenly await the US existing home sales data due later today which
is likely to show an increase in June.
Danske Daily – Danske
Bank (pdf)
With a very thin
calendar focus will be on markets digesting the statement from the G20 meeting
over the weekend. Today US existing home sales, earnings. This week global PMIs
and German IFO.
Market comment: Uptrend in US yields broken – Nordea
US Treasury
yields break their 3-month uptrend * Japanese elections behind – now for the
real reforms * No national salvation pact in Portugal * China moves forward in
its financial reform * Euro-zone confidence data eagerly awaited * The
Netherlands, Italy and the US to sell bonds – redemptions continuing
Aamukatsaus – Nordea
Etsiikö EKP syytä
koronlaskuun? * Aben koalitio vaalivoittoon
Aamukatsaus – Tapiola (pdf)
Muutokset
ulkomaalaisomistuksissa kesäkuussa osoittavat ulkomaalaissijoittajien
kiinnostuksen kohdistuneen defensiivisiin osakkeisiin. Syklisiä sen sijaan
myytiin.
EUROPE
Germany's main
opposition leader Peer Steinbrueck accused Chancellor Angela Merkel of covering
up the likelihood that German taxpayers will have to fund further euro zone
bailouts due to a looming election.
Is Germany Repeating American Errors at Bretton
Woods? – View
/ BB
Lippmann, if he were
alive, would no doubt warn that the seemingly endless austerity being imposed
on southern Europe will ultimately lead to a political backlash that will make
it unsustainable. Germany will soon have to choose: a Marshall Plan for the
south, or an economic and political breakdown of the euro zone.
UNITED STATES
Fed Reviews Rule on Big Banks’ Commodity Trades
After Complaints – BB
Masters of Universe Don’t Need Fed Hand-Holding – View
/ BB
Caroline Baum: The Fed
will be relieved when the economy can shed its training wheels and ride on its
own. Higher interest rates should be viewed as a badge of success. In fact,
something would be amiss if a stronger economy didn’t usher in higher rates.
The Leverage Ratio regulation will hurt
liquidity, introduce risks – Sober
Look
New bank regulation
focused on the so-called Leverage Ratio is expected to do major damage to the US repo market.
The
SEC’s important case against Stevie Cohen – Felix
Salmon / Reuters
If Dodd-Frank doesn’t
work, here are four things that could – Wonkblog
/ WP
ASIA
There may be some
interesting movements in bank shares as investors consider what the future
holds for them without such a large interest rate margin cushion.
The Myth of China’s Economic Reform – View
/ BB
William Pesek: Likonomics
is a ridiculously premature nod to ideas that are, at best, still on the
drawing board and might never come off it.
Steen Jakobsen: Prime
Minister Shinzo Abe's victory in Japan's Upper House elections means he has won a
battle. But he will still lose the war to create more growth and reform his
country's economy.
OTHER
Half a Dozen Thoughts
about the Week Ahead – Marc
to Market
When Central Bankers
Fail - A Tale Of Two Broken Bond Markets – ZH
All About Commodities
In 6 Charts: From A(luminum) To Z(inc) – ZH
The Markets’ Worst
Kept Secret – Asia
Confidential
Lashing central bankers * The math of debt * Dreaded reform * Risk of
another debt bust?
When have econ blogs
changed your mind about something? – Noahpinion
Great Graphic: Equity
Flows DM >EM – Marc
to Market
FINNISH
Hypon Pauna: "Edessä on vaikeat
ajat" – KL
Kun Suomi
putoaa kolmen A:n joukosta, niin pääperusteluina ovat ainakin seuraavat kolme
asiaa: päättämättömyys kestävyysvajeen edessä, näköalattomuus kansainvälisen
kilpailukyvyn ylläpitämiseksi ja asunto- ja infravarallisuuden
arvonkehitysnäkymät.
Lomaraha – palkka tekemättömästä työstä – Pauli
Vahtera / IL
Mies, joka rakensi Suomeen maailman
tehokkaimman radiotiedustelun – ESS
Legendaarinen radiotiedustelija haudataan
elokuussa Sysmässä –
ESS