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Wednesday, September 11

11th Sep - US Open

Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight:  Markets Unchanged As Obama Pause Does Not Bring Levitation; Apple Crumbles – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
EU daily news – Europa
Daily press summary – Open Europe
Morning MoneyBeat: Dow’s New Additions Face Tough Road Ahead – WSJ
Morning Bond Update – TradingFloor
In Becalmed FX Market, Sterling Shines – Marc to Market

See my Special on the German elections.

Most-Connected Man at Deutsche Bank Favors Lightest TouchBB
Achleitner began by praising Draghi’s actions amid Europe’s sovereign debt crisis… ssued a polite warning to the guests, including German Finance Minister Wolfgang Schaeuble, about the dangers of regulators who overreach.

EU lawyers say financial transaction tax is illegalThe Telegraph
European efforts to impose a financial transaction tax (FTT) have been plunged into further chaos after Brussels’ own lawyers concluded that the levy is unlawful.

UK unemployment — the monthly monetary policy guideMacroScope / Reuters

BOE Forward Guidance Complicated By DataWSJ

Assessing asset purchases within the ECBs securities markets programmeECB (pdf)

Banking Union: Parliament and ECB agree transparency dealPresseurop

Speech - State of the Union address 2013 Europa

Rolling back the EU threatens return to 'war and trenches' says José Manuel BarrosoThe Telegraph
Critics of the European Union "who want to roll back our integration" threaten to take Europe back to the divisions that led to the First World War, José Manuel Barroso has warned.

End to Crisis ‘Within Sight’ Says BarrosoEuro Crisis / WSJ

Barroso urges leaders to stop EU-bashingeuobserver

Barroso urges Europe to complete banking unionReuters

Barroso warns Europe not to derail fragile recoveryReuters

Greece’s Weak Exports Mean More Deflation Is In The CardsWSJ

Assessing the Probability of an Italian Political CrisisEconoMonitor
How likely is it that the forthcoming decision of the Parliamentary Committee to ban Silvio Berlusconi from the Senate will lead to a political crisis, prompting a strong rise in Italian yields? In my opinion, the probability today is slightly above 50%

In Spain Simply Doing Nothing Is Not An Option!Fistful of Euros

Larry Summers versus Dodd Franknaked capitalism

Is This A Reason To Like Larry Summers... ZH

FOMC preview: Tapering but stronger promise to keep rates lowNordea (pdf)
Or the summary.

Investors Wary of Another China Cash CrunchWSJ

Is China’s urbanisation really the answer?alphaville / FT
The imbalance, says Huang, merely reflects the urbanisation-industrialisation process — income rises and output grows as newly-urbanised workers earn more, but the proportion of their income spent on consumption falls for a time

Changing China set to shake world economy, againReuters
Long after concerns about tightening U.S. monetary policy have faded, a more profound issue will still dog global policymakers: how to handle the second stage of China's economic revolution.

Blogs review: India in trouble?Bruegel

Japan’s consumption tax as a
Abenomics comprises three ‘arrows’. The monetary and fiscal arrows have been launched; the pro-growth arrow has not. This column suggests that arguments over the consumption tax burn up precious political capital that would be better spent on growth reforms.

Bond Theme: Diversification window now openTradingFloor
Outright equity investors should take note. A much appreciated portfolio diversification opportunity is re-emerging after a two-year break.

IMF varoittaa Suomea aiheesta. Asuntolaina- ja asuntomarkkinamme nojaavat siihen, että lainoja halutaan ja pystytään lyhentämään.Ari Pauna / Hypo

Julkistamis- ja keskustelutilaisuus 18.9.2013Libera
”Julkisen vallan käyttäjät – opas julkisen valinnan teoriaan”

Katainen kokoomusnuorista: Pöllöimmät ideat yleensä karsiutuvatHS

Todella huono ajatusBjörn Wahlroos / Libera

Koiviston konklaavi – pro et kontraVeikko Huuska / US Puheenvuoro