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Monday, August 26

26th Aug - EU Open

Previously on MoreLiver’s:

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News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Asia Morning MoneyBeat: Quirk of Rally — Dearth of Tech IPOs – WSJ
Europe Morning MoneyBeat: Gains Ahead, But Volumes Light – WSJ

3 Numbers to Watch: US durable goods, US Dallas Fed Mfg., US 10yrTradingFloor
The benchmark 10-year Treasury yield, along with today’s update on new orders for durable goods and the Dallas Fed Manufacturing Index, are Monday’s key US numbers to watch.

Market Preview: – TradingFloor

Danske DailyDanske Bank (pdf)

Market comment – Can US housing market handle higher rates?Nordea
German bonds could not replicate the rally in the US * Equities helped by a fall in yields in the US * Hiccups in US housing market recovery to delay Fed tapering? * More conflicting signals from ECB members * Euro-zone credit & confidence and US price data ahead * US, Italian and Belgian auctions in store

Luotonannon niukkuus rassaa euroaluetta * Interventioilla vahvemmaksi? * Dollari heikentyi USA:n odotettua heikommasta asuntomyynnistä

AamukatsausTapiola (pdf)
Mallisalkun TOP-5 osakkeiden arvostu on edullinen kun 2013E P/E on 12,8 ja vuoden 2014E P/E on 11,2. Odotettu osinko tuotto on 4,7%.


A perspective on the German ‘job miracle’Bank of Finland
Labour market outcomes and welfare after the labour market transformation, BoF Online 7/2013

Scandi markets aheadDanske Bank (pdf)
Sweden is catching up and value in Scandi FX after sell-off

Can the Fed's proposed overnight facility reduce pressure on the repo markets?Sober Look

Within Four Years, China To Consume More Oil Than U.S.Forbes

Asia Focus: Indonesia looks good despite emerging market slowdownTradingFloor

Thoughts on the Week Ahead: Pitfalls around the CornerMarc to Market

While you were busy…Nordea (pdf)
In this short presentation, we highlight some of the major economic and financial market events that have happened over the past few weeks.

Why does capital flow from poor to rich countries?
Daniel Gros: This column argues that the direction of capital flows makes economic sense given savings behaviour. But the real puzzle is why savings rates are high in poor countries and low in rich ones.

Things That Make You Go Hmmm...: The Hypocritic OathZH

What is Shadow Banking? PragCap
‘All financial activities, except traditional banking, which require a private or public backstop to operate’. The idea that shadow banking is something that needs a backstop changes how we think about regulation. Although it won’t be easy, regulation is possible.

Fed’s Jackson Hole Participants to QE-Exit Whacked Emerging Economies: Drop Deadnaked capitalism

Kokoomuksen Orpolta neuvo Soinille: Tiukka eurokanta vie hallituspaikanHS

Suomen talouden tilannekuva elokuussa 2013Suomen Pankki

Suomalaiset tinkisivät naapurin eduistaHS
Yli puolet kansalaisista kannattaa rakennemuutoksia, jos ne eivät kohdistu omiin etuihin

Mistä Jyrki Kataisen hallitus jää historiaan?Jyrki Virolainen