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Wednesday, September 4

4th Sep - EU Open

Previously on MoreLiver’s:

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News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT
Asia Morning MoneyBeat: Stocks Stumble to the Finish Line – WSJ
Europe Morning MoneyBeat: Economic Hopes Trump Syria for the Moment – WSJ

3 Numbers to Watch: UK services PMI, EU GDP, EU retail salesTradingFloor
Updates on the UK services PMI, and EU releases on GDP and retail sales, are among today’s key numbers to watch and will serve further to show if the recovery in the Eurozone really does have legs.

Market Preview: Revised Eurozone Q2 data to give recovery cluesTradingFloor
European markets are expected to open mostly flat Wednesday. Traders await a slew of macro releases in Europe and the US due later today, especially the revised second quarter Eurozone GDP data. Today’s Fed Beige Book survey will also be keenly eyed.

Danske DailyDanske Bank (pdf)
Euro area final services PMI, Q2 GDP. ECB’s Asmussen speaks (ECB meeting tomorrow). US: trade deficit, Fed’s Williams speaks.

Mikä enää estäisi Fedin trimmauksen? * Kiina - Pilviä piristymisen yllä? * Korot nousussa vahvan ISM-indeksin jäljiltä

AamukatsausTapiola (pdf)
USA:sta saatiin eilen odotuksia vahvemmat teollisuuden ostopäällikköindeksit. Yhdessä muualta saatujen vahvojen teollisuuden luottamuslukujen kanssa vahvistaa kuvaa teollisuuden kasvun kiihtymisestä. Markkinan suunta: Osakemarkkinat peruuttelivat eilen Euroopassa Syyrian sotilastoimien todennäköisyyden noustua. Pitkät korot nousussa, kun USA:n teollisuuden ostopäällikköindeksi odotuksia vahvempi. Osakefutuurit nollassa, indikoiden tasaista avausta OMX HEX:iin. Olemme rullanneet suomalaisten osakkeiden osaketaulukot 3Q13 tuloskauteen (kts. 29-32).


Economic Outlook SeptemberNordea
The Nordic countries are poised for a possible economic turnaround.

Plans to create a pan-European electricity grid as part of the common energy market face a number of challenges before they can be realizedEuropp / LSE

France and the Commissionmainly macro
The Austerian Mask SlipsKrugman / NYT
Rehn has let the mask slip. It’s not about fiscal responsibility; it never was.

Germany must provide a vision for the rudderless ship of EuropeTradingFloor
Steen Jakobsen: Germany must provide a vision to help restructure Europe, get credit flowing again and reduce the overall debt load. The strong euro is doing the periphery no good and unemployment is sky-high. The ship needs a rudder to brace the many headwinds.

'Ben'-edictions On The Economic And Profit CycleZH
JPMorgan's Michael Cembalest: Retain some risk in thy portfolios, but prepare for lower returns than those seen since the end of 2008.

BofAML Warns Of 'Deeper Downside Risk' To June Lows (S&P 1560)ZH