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Wednesday, August 28

28th Aug - US Open: Global chaos

Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: Market Continues Headless Chicken Dance As Uncertainty Soars – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
EU daily news – Europa
Daily press summary – Open Europe
  Merkel: Blames Schröder for allowing Greece in the Euro; SPD: Greece will need a further 77bn by 2020

Morning MoneyBeat: Syria Rattles Markets – WSJ
Morning Bond Update: Syria uncertainty fuels bunds – TradingFloor
Dollar Remains Bid, Equities Heavy – Marc to Market

ECB Says Private Sector Loans Continue Fall as Economy RevivesBB
Eurozone July stats ring credit crunch alarm bellsTradingFloor
July's monetary statistics from the Eurozone confirm that the credit crunch is not easing. The European Central Bank is unlikely to step in now though in the hope that a turnaround will come without intervention.

German elections 2013: The four European unknownsPresseurop

Angela Merkel: Greece should never have been allowed in the euroThe Telegraph
Merkel blames SPD’s Schroeder for letting Greece into the euroekathimerini

Spaniards Fleeing Jobless Scourge Seek Jobs in Morocco: EconomyBB
Unemployment in Spain declined for the first time in two years in the second quarter, INE said last month. The workforce fell for a fourth straight quarter as people gave up on job hunting or left the country.

Portugal’s recovery isn't really a recovery at allThe Telegraph
Earlier this month Portugal surpassed expectations when it reported the strongest quarterly growth in the European Union, seemingly confirming its position as “the good student” of the EU-IMF-ECB “troika”.

Sweden: Business sector picking upNordea
NIER sees clear signs of a turnaround in the economyNordea

Viewpoints August: Policy Uncertainty on the RisePIMCO
Congress seems to be digging in and ramping up the rhetoric in advance of a possible government shutdown, a debt ceiling increase and a probable selection of a new Fed chair.

Viewpoints August: Inflection Points: Why Demand for Bonds Will ReboundPIMCO

White House not yet vetting Yellen for Fed chair: sourcesReuters

The Fed and the Emerging Markets PerilView / BB
Mohamed A. El-Erian:  On the way in, the surge in capital led to appreciating currencies, reduced export competitiveness and fueled pockets of financial excesses. The reversal began in earnest in May amid market perceptions that the Fed planned to taper its market interventions. On the way out, the flows have caused sharp exchange-rate depreciations, spikes in local interest rates, and fears of inflation and diminished growth.

US set to face new debt-ceiling crisis ‘when cash runs out in October’Independent
Government will be in ‘an unacceptable position’, warns Treasury Secretary

Is China’s Cash Crunch Returning?WSJ

Why $3.4tn in foreign reserves is not China’s escape hatchalphaville / FT

Analysis: U.S. strike would aim to punish Assad, not turn tide of warReuters

Global FI Strategy – How much higher can we go?Nordea

Blogs review: Takeaways from Jackson Hole Bruegel
Although Jackson Hole was relatively calmer this year in the absence of market moving speeches, it featured a number of provocative research papers.

Liian kallis asuminen Suomen piilevä talousjarruJan Hurri / TalSa
Talouspäättäjät vaativat talouden rakenteisiin uudistuksia mutta vähät välittävät yhdestä Suomen raskaimmista talousjarrusta: asumisen kalleudesta. Suurimmat kaupungit ovat jo niin kalliita, että työn perässä muualta muuttaminen on mahdotonta – tai sitoo nuorten aikuisten voimat ja varat jopa vuosikymmenten velkaliekaan.

Suomen kestävyysvaje: Selviämiseksi ei riittäisi edes ansiotuloverojen tuplaaminenVerkkouutiset

Ministeriö esittää: Kotihoidontukeen leikkaus, subjektiivista päivähoito-oikeutta rajataan ja eläkeikää ylösYLE

"SDP:n eläkeikälupaus oli viiden miljardin moka"Verkkouutiset
Kauppaneuvos-kansanedustaja Eero Lehti arvostelee Iltalehdessä vääriä tilannearvioita, joita tehtiin nykyhallitusta kasattaessa.

Palkansaajien ansiot nousivat huhti-kesäkuussa 2,1 prosenttiaTilastokeskus

Myönnettyjen rakennuslupien kuutiomäärä väheni vuoden 2013 toisella neljänneksellä lähes 4 prosenttia vuoden takaisestaTilastokeskus