Roundups
News roundup – Between
The Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
Asia Morning MoneyBeat: A Sleepy Tuesday, Ahead of
a Super Wednesday – WSJ
MORNING BRIEFINGS
3 Numbers To Watch: German retail sales, EU
jobs, US ADP payrolls – TradingFloor
Retail sales for Germany, unemployment in the Eurozone, and ADP’s
payrolls estimate for the US are among today’s key numbers to watch.
European markets are
likely to open mostly flat Wednesday. Traders keenly await today's outcome of
the Fed's policy meeting for cues on QE3 tapering. Also, the US GDP and a slew
of macro releases across Europe will attract market attention.
Danske Daily – Danske
Bank (pdf)
FOMC statement: We
do not expect any changes in policy but think that the Fed will stay on track
to start tapering in September despite more dovish comments from chairman
Bernanke recently... the first release of US Q2 GDP growth. We expect GDP
growth to print only a modest 0.8% q/q AR, which is likely to be noted in the
FOMC statement.
Market comment: Brace yourself: it all starts
today – Nordea
Bond yields with
limited changes, but all that is about to change * Italian bonds with some
performance despite the on-going Berlusconi court case * Asian equities mixed
overnight * Watch out for the weak Dutch economy * Worries of falling Euro-zone
inflation receding * US data mostly with a softer tone *
Brace yourself – it all starts with the US GDP and the Fed today * Germany to sell 30-year bonds
Brace yourself – it all starts with the US GDP and the Fed today * Germany to sell 30-year bonds
Aamukatsaus – Nordea
Suomen
työttömyysaste aliarvioi työttömyyden * Milloin Fed trimmaa? * EURSEK nousi yli
prosentin
Aamukatsaus – Tapiola (pdf)
Outotecin
2Q-luvut jäivät odotuksista, samoin saadut tilaukset. Koko vuoden ohjeistus
kuitenkin muuttumaton. Outotecin raportti vahvistaa kaivosteollisuuden
aktiviteetin hidastumisen. Markkinan suunta: Osakemarkkinoilla eilen pieniä
liikkeitä, kun sijoittajat odottivat tänään julkaistavia BKT-lukuja USA:sta
sekä FED:in korkokokouksen päätöksiä. Euroalueen talousluottamus jatkoi
odotetusti vahvistumistaan, tunnelmat korkeimmillaan sitten kevään 2012. Osakefutuurit
miinuksella, indikoiden laskuavausta OMX HEX:iin. 2Q13-tuloskauden kommentit: Finnlines,
Orion, Incap, Outotec, Pohjola.
EUROPE
If "Europe Is
Fine" Why Is Deutsche Bank Deleveraging At The Fastest Pace Since The
Crisis of 2011? – ZH
UNITED STATES
Hawks and Doves, Again – Tim
Duy’s Fed Watch
The classification of
policymakers into hawks and doves is unfortunate given the negative connotation
associated with doves in particular. It
is even more unfortuate that Yellen has been identified as a dove innumerable
times in the press and blogs (myself included).
I don't know that we can easily abandon the terminology, but we very
much need to work to eliminate any negative connotations to the terms.
What Larry Summers Said in 1991 – Evan
Soltas
OTHER
Things That Make You
Go Hmmm... Like Fed-Induced Sugar Crashes – ZH