Special:
German Elections 2013 (updated)
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
EUROPE
See my Special
on the German elections.
Most-Connected Man at Deutsche Bank Favors
Lightest Touch – BB
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
illegal – The
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.
BOE Forward Guidance Complicated By Data – WSJ
ECB
Assessing asset purchases within the ECBs
securities markets programme –
ECB (pdf)
BARROSO’S
STATE OF THE UNION
Speech - State of the Union
address 2013 – Europa
Rolling back the EU threatens return to 'war
and trenches' says José Manuel Barroso – The
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 Barroso – Euro
Crisis / WSJ
Barroso urges leaders to stop EU-bashing – euobserver
Barroso urges Europe to complete banking union – Reuters
Barroso warns Europe not to derail fragile
recovery – Reuters
PIIGS
Assessing the Probability of an Italian
Political Crisis – EconoMonitor
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%
UNITED STATES
Larry Summers versus Dodd Frank – naked
capitalism
Is This A Reason To Like Larry Summers... – ZH
FOMC preview: Tapering but stronger promise to
keep rates low – Nordea
(pdf)
Or the summary.
ASIA
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
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
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.
OTHER
Bond Theme: Diversification window now open – TradingFloor
Outright equity investors should take note. A much appreciated portfolio
diversification opportunity is re-emerging after a two-year break.
FINNISH
IMF
varoittaa Suomea aiheesta. Asuntolaina- ja asuntomarkkinamme nojaavat siihen,
että lainoja halutaan ja pystytään lyhentämään. – Ari
Pauna / Hypo
Julkistamis-
ja keskustelutilaisuus 18.9.2013 – Libera
”Julkisen vallan käyttäjät – opas julkisen
valinnan teoriaan”
Katainen
kokoomusnuorista: Pöllöimmät ideat yleensä karsiutuvat
– HS
Todella
huono ajatus – Björn Wahlroos /
Libera
Koiviston
konklaavi – pro et kontra – Veikko
Huuska / US Puheenvuoro