Previously on
MoreLiver’s:
Roundups
News roundup – Between
The Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
Asia Morning MoneyBeat: This Shutdown Thing May
Have Some Legs – WSJ
MORNING BRIEFINGS
The change in Spain’s jobless population, the UK Construction PMI,
and the US ADP Employment Report are among the key numbers to watch today.
Against the backdrop
of the continuing deadlock over US budget talks, European markets are expected to
open mostly lower Wednesday. Traders are eyeing the ECB’s interest rate
decision and a confidence vote in the Italian parliament for further cues.
Danske Daily – Danske
Bank (pdf)
Focus on politics
in both the US and Italy. While we will likely have to wait before anything new
happens in the US deadlock, today Italy’s prime minister is expected to win a
vote of confidence in parliament. Italian markets rallied strongly yesterday as
Silvio Berlusconi – the man who has been the main cause of trouble in Italian
politics the past years – faces a major defeat... ECB will also be in the limelight today. We do not expect a rate cut or new
measures from ECB but focus will be on signals on how high the bar is for ECB
to provide new stimulus, such as a new 3Y LTRO.
Market comment: ECB to talk LTROs – Nordea
ECB meeting with
focus on LTROs * Italian Fight Night * Market complacency to the US shut down *
VAT hike in Japan
Aamukatsaus – Nordea
EKP:ltä vahdataan
vinkkejä uusista toimista * Budjettikriisi uhkaa USA:n kasvua * Brittiteollisuuden
kasvu hidastui hieman
Aamukatsaus – Tapiola (pdf)
Osakemarkkinoille nostetta USA:n vahvoista teollisuuden näkymistä, globaali ostopäällikköindeksimme jatkoi nousuaan. Tänään EKP:n korkokokous. Uusia tukitoimia ei odoteta, joten positiiviselle yllätykselle jää mahdollisuus.Osakefutuurit nollassa, indikoiden tasaista avausta OMX HEX:iin. Pohjoismaisten pankkien arvostusvertailu: Aktian ja Nordean arvostus vaikuttaa edelleen houkuttelevalta.
UNITED STATES
The real cost of the US government shutdown will be paid by the
economy, the unemployed and a lack of reforms. Year after year, decade after
decade politicians remain locked in rhetoric at the expense of the economy. That's the price of incompetence.
OTHER
Commodities under pressure again – Sober
Look
The rally in
commodities, which started in August has petered out. Several major commodities
indices show significant declines on a year-over-year basis.
FINNISH
Elinkeinoelämän tekemien virheiden nopea
korjaaminen on mahdollista vain rahapolitiikan avulla – Tyhmyri