Roundups &
Commentary
Markets – Between
The Hedges
Recap – Global
Macro Trading
The Closer – alphaville
/ FT
Europe: European Slide Accelerates – ZH
US: Dow Slumps To 6-Day Losing Streak As Cramer Top-Ticks Fed Reaction –
ZH
EUROPE
The Eurozone’s Misplaced Orthodoxies – Project
Syndicate
With the euro crisis
still far from resolved, the currency union remains at the center of heated
debates. But, in many cases, positions have become so polarized that they miss
the point, impeding policymakers’ ability to agree on and implement an
effective crisis-response strategy.
UNITED STATES
The SEC is now demanding that companies admit
wrongdoing. That’s a big deal.
– Wonkblog
/ WP
Summers, Yellen allies wage behind-the-scenes
effort to win Federal Reserve nod – Wonkblog
/ WP
FOMC
MINUTES
"Almost all Committee members agreed that
a change in the purchase program was not yet appropriate" – Calculated
Risk
Key Passages From Fed Minutes – WSJ
Spot The Odd One Out Since The FOMC Statement – ZH
"Broad Support For Bernanke Tapering
Timeline" FOMC Minutes Say
– ZH
FOMC minutes – alphaville
/ FT
Post-FOMC Minutes Update: Stocks Confused;
Bonds Not! – ZH
Bearish Read, Sends Bonds and Stocks Down,
Dollar Up – Marc
to Market
Fed still ready to taper before year-end – Nordea
More detailed QE guidance coming up – Danske
Bank (pdf)
The FOMC minutes exacerbate emerging markets
rout – Sober
Look
OTHER
Jackson Hole 2013 – Missing some central bank
chiefs – Money
Supply / FT
Goldman Sachs: unlikely
to provide much guidance on near-term Fed policy
All you need to know about emerging markets – Long
Short / FT
The current account
tells you most of what you need to know. Since May, emerging countries which
need to attract international capital – those with current account deficits –
have seen their currencies and share prices slide and their bond yields jump.
Those with a surplus have been hit much less hard.
To Have and Have Not
(a current account surplus) – Long
Short / FT
While the US Treasury bond sell-off goes on, the market’s sorting of
emerging markets is brutal. One factor matters above all others: does the
country have a current account surplus or deficit?
When “QE Infinity” Turns Into A Pipedream: Hot
Money Evaporates, Rout Follows – See Emerging Markets – Testosterone
Pit
comment recommend link
to this 52 minutes ago
Stress Indicators:
Tighter financial conditions - wake-up call?
Steen Jakobsen: The
Stress Indicators look increasingly nervous. We focus on financial conditions, Slovenia and the test of wedges in major markets - the
S&P and 10-year US rates.
http://www.tradingfloor.com/posts/stress-indicators-tighter-financial-conditions-wake-call-381382018
FINNISH
Kreikan kolmannesta tukipaketista tihkuu
tietoja – Rehnkään ei kiellä – TalSa
Talouskomissaari
Olli Rehn ei enää sulje pois uuden lainaohjelman myöntämistä Kreikalle,
kirjoittaa Helsingin Sanomat. Saksalaislehti tietää jo kertoa kolmannen
hätälainan ehdoista.
Sasi: Kreikan euroeroa harkittava, jos
tarvitaan uusi paketti
– TalSa
Rahoituskriisien ennakoiminen – indikaattorit
ja vastasyklinen pääomapuskuri Suomessa – BoF
Selvitys
kattaa vuodet 1900–2012 ja sisältää kuusi rahoituskriisiä. Vastasyklisen
pääomapuskurin tarkoituksena on vähentää pankkien luotonannon kiihtymistä
korkeasuhdanteissa ja parantaa pankkien tappioiden kantokykyä.
Suomi antaisi 1,5 miljardia anteeksi
kreikkalaisille? - ”Kokoomuksen kardinaalimokaus” – US
Professori: Suomalaisten masennus on oikeasti
työuupumusta – US
Kimmo Sasi: Miksi valtio ei alenna asumisen
hintaa näin – ei maksaisi mitään? – US
Yrittäjiltä tukea: Yt-lain höllentäminen
auttaisi välittömästi
– Verkkouutiset