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Tuesday, August 20

20th Aug - US Open

Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: Safety Bid For 10 Year TSYs Offsets USD Weakness, Keeps Futures Rangebound – ZH
The Lunch Wrap – alphaville / FT
EU daily news – Europa
Daily press summary – Open Europe
Morning MoneyBeat: Stock Selloff Starting to Get Serious – WSJ
Morning Bond Update: Transmission full blown – TradingFloor
Europe Main Beneficiary of Flows from Emerging Markets – Marc to Market

Privatisation in the euro area: Differing attitudes towards public assetsDB Research
All in all, the privatisation receipts that can be generated in the foreseeable future should not be overestimated. For example, political opposition still has to be overcome mainly with regard to the privatisation of services of general interest. In addition, public-sector companies, facilities and buildings are in many cases in need of restructuring or renovation if they are to be of any interest to private investors.

German Fin Min says Greece will need a third aid programReuters

Germany says it profited from the euro crisis, but did it really?Quartz
There’s no doubt Germany’s safe haven status, much like that of the United States, has allowed it to borrow more cheaply. But that probably doesn’t account for the broader costs of the crisis and the European recession—nor for what might have happened had Germany supported a more pro-growth Europe.

End Austerity NowProject Syndicate
Eurozone leaders must recognize that spending cuts will do nothing to stabilize the balance sheets of core-country banks that are over-exposed to peripheral countries’ sovereign debt. Until Europe rejects austerity in favor of a growth-oriented approach, all signs of recovery will prove illusory.

Russian Recession Risk Worsened as Banks Skimp on LoansBB

Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six HeadwindsNBER
Or embedded on The Big Picture.

Why all the Yellen about a new Fed boss?TradingFloor
Since 1979, the markets have survived the replacement of the irreplaceable Paul Volker and the hero turned villain, Alan Greenspan. Bernanke will just be another name for the history books.

Japan PM Adviser Wants More Spending If Tax RaisedWSJ

Forward guidance: I want to have my cake and eat it!DB Research
In the space of a few weeks “forward guidance” has become established as a new fashion among the world's leading central banks. European central banks are hoping that by issuing “forward guidance” they will be able to decouple at least a bit from the trend of rising rates in the US.

Global real money growth still slowingQfinance

Suomen talouseliitti suosii Luxemburgia sijoituksia tehdessäänHS
Ehrnroothin suvulla on pienessä ruhtinaskunnassa satojen miljoonien eurojen sijoitusomaisuus

Pääkirjoitus: Rehnin ehdokkuus ei ole Suomelta poisHS

Tapaus Eufex – miten suomalaispankki voi sählätä näin pahasti?TalSa

Työmarkkinatilanne ei kannusta työnhakuun – työttömyys laskiVerkkouutiset

Ottavatko markkinat ja keskuspankit yhteen?Henri Myllyniemi / Piksu