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Tuesday, August 27

27th Aug - US Close

Previously on MoreLiver’s:

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Roundups & Commentary
Markets – Between The Hedges
The Closer – alphaville / FT
US: Selloffnado: Perfect Macro Storm Clobbers Stocks ZH

Italy is the Weak Link in EuropeMarc to Market

Moody’s Unswayed By Signs of Euro-zone GrowthWSJ
Signs of emergent growth in Europe haven’t convinced Moody’s Investors Service that government debt in the weaker economies that use the euro deserve a rosier outlook.

Finland entering the market with a new 5-year EUR benchmarkNordea

Fed to QE-Exit Whacked Emerging Markets: Drop DeadCredit Writedowns

Four Reasons the Fed Should Start Tapering in SeptemberWSJ
Four Reasons the Fed Shouldn’t Taper Just YetWSJ

John H. Cochrane: The Danger of an All-Powerful Federal ReserveWSJ
'Macroprudential' policy thinkers want central banks to micromanage the entire financial system.

Ahead of G20, China urges caution in Fed policy tapering Reuters
The U.S. Federal Reserve must consider when and how fast it unwinds its economic stimulus to avoid harming emerging markets, although the impact on China could be more limited compared with some other countries, senior Chinese officials said on Tuesday.

Another day, another sign that Larry Summers will get the Fed jobWonkblog / WP
If Summers doesn’t get the job it won’t be because the White House doesn’t want to choose him. It’ll be because they’re worried he won’t clear the Senate.

Consumer Confidence Index in U.S. Increases to 81.5 – BB
U.S. consumer confidence rises in August – Reuters
Consumer Confidence Comes in Above Expectations – dshort
Richmond Fed Manufacturing: A Strong Improvement – dshort
Richmond Fed: "Manufacturing Strengthened, Hiring Modest" – Calculated Risk

Stephen S. Roach: The Global QE Exit CrisisProject Syndicate
Developing economies are now feeling the full force of the Fed’s moment of reckoning. They are guilty of failing to face up to their own rebalancing during the heady days of the QE sugar high. And the Fed is just as guilty, if not more so, for orchestrating this failed policy experiment in the first place.

Raimo Ilaskivi: Suomeen h├Ąt├Ątilahallitus: Ministereiksi Wahlroos, Alahuhta ja SailasIL