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Tuesday, July 2

2nd Jul - EU Open - Quiet day ahead of CB's

Nothing on calendar, focus shifting to Thursday's central bank meetings and Friday's payrolls.

Previously on MoreLiver’s:

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The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT
Asia Morning MoneyBeat: A Good Start to the Third Quarter – WSJ
Europe Morning MoneyBeat – WSJ

3 Numbers to Watch: UK construction, EU PPI, US factory orders TradingFloor
In today’s updates, UK construction activity is expected to strengthen via the Markit/CIPS PMI release; analysts think Eurozone producer prices will stabilise; and the growth rate in US factory orders is expected to pick up.

Market Preview: EU PPI and US factory orders in the spotlightTradingFloor
European markets are expected to open in the red Tuesday. With a light European economic calendar, traders will keep an eye on US factory orders data due later today which is likely to show a monthly improvement in May.

Danske DailyDanske Bank (pdf)
In terms of data releases, the calendar is very thin. In the UK construction PMI data are released at 10:30 CET, while US factory orders at 16:00 CET is the highlight during the afternoon. In the morning, EC President Van Rompuy will participate in the EU parliamentary debate on the latest summit outcome. Tonight Fed’s Dudley will speak on the economy but we do not expect any major news from the event.

Luottamus palautumassa USA:ssa * Teollisuusluvuista tukea raaka-aineille


Is Europe Recovering?naked capitalism

New York Fed releases 2012 annual reportN.Y. FED (pdf)
Analyzes the year's economic and financial developments, including Fed policies and their impact. Also provides financial data on the New York Fed's operations.

Market Valuation Overview: Expensive, But Off the Recent Highsdshort
Market Valuation, Inflation and Treasury Yields: Clues from the Pastdshort

Measuring China’s credit squeezeMacrobusiness

Rates morning comment: See no evil, speak no evilNordea
Yields drop marginally. Equities higher on better-than-expected ISM figures. Chinese media asked to stop writing about cash crunch. Italian former PM Monti threathening to withdraw support for government. Portuguese FinMin Gaspar resigns

The Return on College, Around the WorldEconomix / NYT

Ranskassa sattuu ja tapahtuu – nainen minun makuunityhmyri