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Friday, August 23

23rd Aug - EU Open



Previously on MoreLiver’s:

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Roundups
News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Asia Morning MoneyBeat: Making Money in About Half the Time – WSJ
Europe Morning MoneyBeat: Gains Ahead Amid Signs of Growth – WSJ


MORNING BRIEFINGS
3 Numbers to Watch: German GDP, Eurozone conf., US home salesTradingFloor
Germany's second-quarter gross domestic production, and the euro area's flash consumer confidence index are expected to confirm the European recovery. US home sales are seen dipping slightly, possibly because of the higher mortgage rates.

Market Preview: German GDP and EU consumer confidence eyedTradingFloor
European markets are expected to open higher Friday. Traders await the EU consumer confidence index today which is likely to show an improvement for August. Meanwhile, today's final reading of German Q2 GDP and US new home sales data are also eyed.

Danske DailyDanske Bank (pdf)
The most important release is new home sales in the US. The very strong existing home sales released earlier in the week suggest some upside and so far the higher mortgage rates do not appear to have weakened the US housing market substantially.

Market comment: Euro zone finally starting to see some lightNordea
Bonds continue under pressure – some profit taking in store ahead of the weekend? * Equities helped by positive data * Spanish bonds better placed to benefit from improving sentiment compared to Italian ones * Euro-zone confidence data continue to improve * ECB’s Nowotny sees no need for further rate cuts * Fisher says he is not alone in supporting a September tapering * US new home sales and Euro-zone consumer confidence ahead

AamukatsausNordea
Vihreitä versoja syksyn kynnyksellä * Vielä neljä vuotta, Angie? * Ruotsin työttömyysaste laski heinäkuussa

AamukatsausTapiola (pdf)
Euroalueen positiiviset ostopäällikköindeksien ennakot nostivat osakemarkkinoita. Tänään euroalueen kuluttajaluottamuksen ennakko, josta toivotaan jatkoa euroalueen parantuvalle makrodatalle. Osakefutuurit plussalla, indikoiden nousuavausta OMX HEX:iin. Päivitimme eilen sijoitussuositukset: ETF-sektoreissa lisäsimme syklistä riskiä. Korkosijoituksissa lyhensimme maturiteettia ja lisäsimme luottoriskiä.

MarkkinakalenteriNordnet
MarkkinakalenteriTaloussanomat


EUROPE
Good news from Germany: Consumption is the main growth driverNordea

Spain rebalancing drive ongoing despite wider July trade deficit TradingFloor

UNITED STATES
Moody’s Reviews U.S. Bank Ratings to Consider Reduced Government SupportWSJ
Moody’s Threatens to Cut Credit Ratings of BanksNYT

ASIA
Why Asian Markets Are Collapsing In 3 Simple ChartsZH
Morgan Stanley: Asia with the most leveraged balance sheets in the world today, later stages of a cycle when leverage has already increased and the cycle turns more adverse, credit environment deteriorating.

FINNISH
Vieraskynä: Rakenneuudistukset voivat koitua Urpilaisen kohtaloksiHS
Kokoomus ja Sdp yrittivät "hallittua rakennemuutosta" viimeksi 1980-luvulla.

EU ei olisi este Sipilän – Soinin hallitukselle – Ilkka

Autoveron nosto meni metsään – valtio menettää kymmeniä miljoonia eurojaYLE