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Monday, October 21

21st Oct - The post-shutdown data calendar

Previously on MoreLiver’s:

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Dutch contortions on budget highlight potential limits of eurozone rulesOpen Europe
After a whole range of eurozone reforms (think Fiscal Pact, six-pack, two-pack etc) the lesson seems to be that legal rules just won't trump politics.

Angela's Agenda: A Grand, Controversial Plan for EuropeSpiegel
Angela Merkel's domestic policy in her third term will likely be confined to higher spending. But she has grand plans for Europe. SPIEGEL has learned she wants Brussels to have far more power over national budgets. It's a risky move that EU partners and the Social Democrats are likely to oppose.

Hugo Dixon: Brexit process would be messyReuters
Imagine the British people vote to quit the European Union in the referendum David Cameron has promised to hold by 2017. What happens next? What, if any, special relationship would the UK seek to retain with the EU? Would it be able to negotiate what it wanted? And how would the economic damage unleashed by years of uncertainty be kept to the minimum?

ECB Sheds Light on Emergency Lending ProgramWSJ

The Man Who’ll Do Triage on Europe’s BanksNYT
Ignazio Angeloni, a top ECB official, has a leading role in reviewing euro zone banks to determine which are sound and which are not.

Europe's Recovery In Context: So Far In Q3, 13 Of 17 Reporting Companies Miss RevenuesZH

Census Bureau Releases Revised Schedule for Economic DataWSJ
When Will Shutdown-Related Economic Reports Come Out?WSJ

How the Billionaires’ Shadow Government WorksView / BB
The promise that Steyer, Paulson and Bloomberg might use their collective billions to slow global warming is reassuring - - and a pleasant change from the dysfunction in Washington that has prevented lawmakers from accomplishing much of anything.

What to Watch for in Tuesday’s Jobs ReportWSJ

U.S. existing home sales fall, price appreciation slows – Reuters
Are higher rates taking a bite out of home sales? – Reuters

Abenomics might eat itself, a Pettis production alphaville / FT
Pettis, who argues that one of the automatic, if not always intended consequences of Abenomics is to really force up Japan’s current account surplus, and it’s not clear the world will be ready or able to absorb it.

“Tapering is off the table”alphaville / FT
Fresh from having made $1bn impeccably timing the putative
US recovery in the first half of this year (and Japan, natch), Andrew Law of Caxton Associates – one of the world’s most successful macro traders – has now turned bearish, and in quite a big way.

Copper triangle pattern indicates breakout could be imminentTradingFloor

Rediscovering the price of money when things can't get worseTradingFloor
Steen Jakobsen: The policies and cheap money dictated by the ECB, the Fed et al are the very essence of a Soviet-style planned economy—central planning and control, no price discovery and just one supplier of credit. This is crushing SMEs—and it simply must stop.

The IMF revisits sovereign bankruptcy
 Felix Salmon / Reuters

Historical Global Yields & Defaults, 1800 – Present The Big Picture

Asiantuntijoita vai asian kantajia?Libera
Juhani Huopainen kommentoi ETLAn ja UPIn viime viikolla järjestämää euroseminaaria Todellisen talous- ja rahaliiton vaihtoehdot.