Previously on MoreLiver’s:
Roundups &
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global
Macro Trading
The Closer – alphaville
/ FT
Europe: Despite Dismal Data, Deutschland Dax Does
Best In 10 Weeks – ZH
US: Bonds Best, Stocks
Rest, And USD Depressed – ZH
EUROPE
We can’t wave goodbye to the euro crisis just
yet – The
Telegraph
Since last summer, the
euro crisis has apparently abated. Optimists have believed that it has finally
been laid to rest.
Hamish McRae: Europe is experiencing a huge shift in population,
exacerbated by the eurozone’s rigidities
Insight - Threat of protest vote casts long
shadow over European elections
– Reuters
In the diplomatic
parlour games popular in Brussels, few issues are generating more gossip or being talked about more
animatedly than next year's elections to the European Parliament.
Muddle through strategy – Hugo
Dixon / Breakingviews
Greece secured a lifeline from the euro zone and the IMF on Monday but was
told it must keep its promises on cutting public sector jobs and selling state
assets to get all the cash.
Urp Versus Derp – Krugman /
NYT
2013 Article IV Consultation, Euro Area
Concluding Statement – IMF
IMF Warns Euro Zone Risks Reviving Stress – WSJ
IMF says 'imperative' for euro zone to revive
growth – Reuters
The euro zone must
take coordinated action to revive economic growth, the IMF said on Monday in a
strongly worded statement that cited the need to repair bank balance sheets,
advance a banking union and support demand.
Introductory statement by Mario Draghi – ECB
ECB’s Draghi Repeats Guidance on Easy Money – WSJ
The euro - political project and prosperity
promise – BIS (pdf)
Introductory statement
by Dr Jens Weidmann, President of the Deutsche Bundesbank, at the Rencontres
Économiques d'Aix-en-Provence, Aix-en-Provence, 7 July 2013.
MACRO
NUMBERS
German Economy Had
Rough May; June May Have Been Better – WSJ
A bad day – Merkelnomics
UNITED STATES
On That September Tapering – Tim
Duy’s Fed Watch
Earnings Reports by Day This Earnings Season – Bespoke
Political Inflationistas – Krugman
/ NYT
The inflationistas are our friends; and inside
and outside inflationistas – Worthwhile
ASIA
Monitor: Japanese investor flows – Danske
Bank (pdf)
If this keeps up, we are going to need a better
name than “Likonomics” – alphaville
/ FT
OTHER
The bond fund outflow, charted – alphaville
/ FT
June’s bond fund
outflow of roughly $60bn represents the largest monthly fund flow — in or out,
equity or bond — of any kind since records began in the early 1990s.
The wastefulness of automation – Pieria
But what if
capitalists DON'T want a large labour supply? What if automation means that
what capitalists really want is a very small, highly skilled workforce to
control the robots that do all the work? What if paying people enough to live
on simply is not cost-effective compared to the running costs of robots? In short, what if the costs of automated
production fall to virtually zero?
The optics of selling financial information – Felix
Salmon / Reuters
The computers that run the stock market – CNN
Citadel Securities has
quietly become one of the largest forces in U.S. stock trading.
A schematic of QE – alphaville
/ FT
The Basel Committee on
Banking Supervision is back with another look at risk-weightings — that is, the
risk weighting done by banks using their own models rather than the
standardised BIS methods… “risk weights for credit risk in the banking book
vary significantly across banks”.
Emerging Market Preview for the Week Ahead – Marc
to Market
Which Countries Are Economic Winners and
Losers? – WSJ
Economic growth in the
U.S. and Japan is set to pick up in the months ahead, while Russia and Brazil appear set for slowdowns, according to the
OECD's composite leading indicators.
At $115 million, if
sold, this will represent the most expensive New york real estate transaction in history.
FINNISH
Puola
ei liity Euroalueeseen koska liittyminen ei ole järkevää – Tyhmyri