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Thursday, September 5

5th Sep - US Open

Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: Bond Blowout Starts Event Extravaganza Day – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
EU daily news – Europa
Daily press summary – Open Europe
  Merkel’s spokesperson: Repatriation of EU powers a ‘sensible idea’
Morning MoneyBeat: Should You Sell Rosh Hashanah, Buy Yom Kippur? – WSJ
Morning Bond Update – TradingFloor
Nine Things to Know Before BOE and ECB – Marc to Market

Service sector points to another GDP increase in the EurozoneTradingFloor
Mads Koefoed: Companies in the euro area service sector reported expansion in August, with PMI services hitting 50.7 following 51 a month earlier. Both PMIs are in expansion and point to a high probability of growth again this quarter.

Germany must provide a vision for the rudderless ship of EuropeTradingFloor
(video) Germany's inconvenient truthTradingFloor
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.

A Complete Guide to European Bail-Out Facilities - Part 2: Target2 and EFSF / ESMbawerk

How Italy and Spain are showing some muscleTradingFloor
Peter Garnry: Take a look at the loan rates for small and medium sized enterprises in Spain and Italy; they're at their lowest levels in two years. this is a positive sign and could lead to their equity markets outperforming Germany's.

Sovereign default risk and banks in the Europe’s monetary
EZ banks are more exposed to their own nation’s government bonds than ever. This column argues that Eurozone members can now afford to tell their banks to diversify, but pressure from Germany, Austria, France and the ECB might be necessary. Defusing the pernicious entanglement between the Eurozone’s weak banks and weak sovereigns would reduce the cost of any new crisis and reduce the likelihood of such a crisis occurring.

Triple shocks threaten Europe's sickly and deformed recoveryThe Telegraph
Europe has not recovered. It has begun to stabilise, but only just, amid mass unemployment, with debt trajectories still spiralling out of control in Italy, Portugal, Spain and once again in Greece.

Mr. Market Reconsiders Disinflation/Deflation RiskThe Capital Spectator

Could The Fed’s Taper Prove Inflationary?WSJ

India's inverted yield curve fails rupee and slams economyReuters
Viewed in one light, India's steeply inverted yield curve is the result of a deliberate and classic policy strategy to defend a weak currency. From another perspective, it is pointing at deep economic problems to come, possibly even recession.

Five Takeaways From BOJ Gov. Kuroda’s CommentsWSJ

IMF Update on Global Prospects and Policy ChallengesIMF

The BRICs party is
Anders Åslund: Emerging markets are under pressure. This column argues that this is not a mere headwind but that the BRICs’ party is over. Their ability to get going again rests on their ability to carry through reforms in grim times for which they lacked the courage in a boom.

Are U.S., U.K. and Europe Heading Down Japan’s Path?WSJ
James Carrick, an economist at Legal & General Investment Management, had a look and published a report on Wednesday. His conclusion: the U.S. and U.K. should be alright but Europe is a much closer call.

Hypo: Asuntolainan marginaali kiipeää jopa 2,5 prosenttiiinTalSa

Islantilaispankkeja uhkaavat uudet miljarditappiotVerkkouutiset

Valtio myi TeliaSoneraa liki 370 miljoonan euron edestäYLE

Pääkirjoitus: Tieliikenteen verotus jättiremonttiinIS
Pari faktaa satelliittivalvontajärjestelmästä – Harri Kivistö / US Puheenvuoro

Pääkirjoitus: Rakenneohjelman piru on yksityiskohdissaIS

Bruttokansantuote kasvoi 0,2 prosenttia edellisestä vuosineljänneksestä mutta pieneni 1,2 prosenttia vuodentakaisestaTilastokeskus

Wahlroos Nokiasta: "Suomessa oli yksi hyvä tuote, ja se myytiin eilen"TalSa

Professori teilaa hallituksen rakenneuudistukset MT:ssaSuomenmaa