Special: German Elections 2013 (updated)
Roundups
News roundup – Between
The Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
Asia Morning MoneyBeat: Stocks Fall Again,
Financials Remain Weak – WSJ
MORNING BRIEFINGS
Updates on sentiment
among manufacturers in France and retailers in Britain, followed by the latest estimate of new home
sales in the US, are among today’s key numbers to watch.
Market Preview: German GfK survey, US durable
goods data in focus – TradingFloor
European markets are
likely to open almost flat Wednesday. Traders await US durable goods orders
data due today which is likely to show an improvement in August. Also, today’s
German GfK consumer confidence and US new home sales data will be eyed.
Danske Daily – Danske
Bank (pdf)
Durable goods
orders and new home sales in the US. It will be interesting to see if there are
any signs of a negative impact on home sales from the increase in mortgage
rates in recent months. Negotiations to secure an agreement on funding of
government expenditures for the new fiscal year starting on 1 October. A Senate
vote is expected this evening.
Market comment: Know what? Tapering depends on
data – Nordea
Uncertainty about
US fiscal and monetary policy pushes bond yields lower * Tapering depends on
data, Dudley says * Ifo edges up * Today: More European sentiment data and US
new home sales * Bond supply form Italy and US
Aamukatsaus – Nordea
Asuntomarkkinat
tukevat talouden elpymistä * Työttömiä taas oudon vähän * Unkarin keskuspankki
laski ohjauskorkoa
Aamukatsaus – Tapiola (pdf)
UNITED STATES
Shutdown vs. Default: The Relative Impact – Economix
/ NYT
The shutdown might
happen when the continuing resolution financing the federal government expires
on Sept. 30. The default might happen when the Treasury runs out of room under
its statutory debt ceiling, likely around Oct. 15.
Goldman Warns Fed Chair Nomination Could Take 3
Months – ZH
An Alternative View Of Why The Fed Did Not
(and Will Not) Taper – ZH
CitiFX: The
"taper" is all about economic cover for a forced move the Fed has to
make: 1. Deficits are shrinking and the Fed has less and less room for its
buying 2. Various non-mainstream technicalities are breaking in the markets due
to the size of the Fed's position 3. If the public starts to believe that the
central bank is monetizing the government's debt then the game accelerates away
from them very quickly. 4. The rest of the world is not happy.
FINNISH
Itseään
kuppaava Saksa on varoittava esimerkki – TalSa
Saksaa pidetään hyvänä esimerkkinä
taloudenpidosta, ja sen omaksumaa mallia ajetaan läpi Suomessa. Euforia peittää
kuitenkin alleen Saksan talouden rakenteiden rapautumisen. Tämä olisi hyvä
pitää mielessä myös kotipuolessa.