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Thursday, September 5

5th Sep - EU Open: BoE, ECB ahead

Previously on MoreLiver’s:

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News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT
Europe Morning MoneyBeat: Gains Ahead of Central Bank Meetings, G-20 – WSJ

3 Numbers to Watch: German Ind. Orders, BOE, US ADP EmploymentTradingFloor
New industrial orders for Germany, an interest rate decision by the Bank of England, and ADP’s estimate of US private payrolls in August are among the key numbers to watch for Thursday.

Market Preview: BoE, ECB, G20 and US ADP employment in focusTradingFloor
European markets are likely to open higher Thursday. The BoE and the ECB are both seen maintaining the status quo at their policy meetings today. News flows emanating from the G20 meeting and the US ADP employment report due today will also be eyed.

Danske DailyDanske Bank (pdf)
Today’s main event is the ECB meeting this afternoon. There are fewer arguments for a rate cut today than a month ago, given recent upside surprises in economic indicators and a slower pace of decline in excess liquidity.

Viime viikon päätökset eivät vielä riitä * Deflaatio nostaa päätään * Tänään Riksbankin, BoE:n ja EKP:n korkopäätökset

AamukatsausTapiola (pdf)
Ulkomaalaisomistuksen muutokset elokuulta osoittavat kiinnostuksen kohdistuneen suomalaisiin syklisiin osakkeisiin. Tämä kiinnostus on linjassa meidän sijoitusnäkemyksemme kanssa. Markkinan suunta: Osakemarkkina sai tukea USA:n vahvasta automyynnistä. Solidium myy TeliaSoneran osakkeita ja PKC Group toteutti osakeannin. Osakefutuurit ylös, indikoiden nousu avausta OMX HEX:iin. Ulkomaalaisomistusten seuranta OMX HEX osakkeissa - elokuu: Positiiviset ennakoivat indikaattorit ovat johtaneet sijoittajat ostamaan syklisiä osakkeita. Ulkomaalaisten ostot linjassa sijoitusnäkemyksemme kanssa.


As austerity lifts, so does EuropeMacrobusiness
Have German austerians changed their spots?Macrobusiness

Bank Leverage Is the Defining Debate of Our TimeView / BB
Simon Johnson: There are plenty of other important debates taking place around the world, but these questions are largely settled, and many of the issues are more rhetorical than real.

Has quantitative easing worked? Reuters
The respect of traditional policy limits reduced the effectiveness of QE. If the newly created money had gone directly into consumer and business bank accounts, rather than into banks, more of it would have been used to pay off excess debts or to invest productively. But at least QE was a new idea. With some more of those, central bankers could do a better job.

Williams On Board With Tapering, Kocherlakota Not So MuchTim Duy’s Fed Watch


Australian Voters Face a Choice: America or China? View / BB
Will the Land Down Under Pick the United States or China?Foreign Affairs
As the strategic rivalry between the United States and China grows, Australia’s position between them becomes even more delicate. Inevitably, Australia’s foreign policy debate has now become focused around the question of how to manage and balance these two critical relationships.