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EUROPE
Public backing for EU crashes in wake of
eurozone crisis – The
World / FT
A Gallup poll, published on Wednesday, showed what a devastating impact
the eurozone’s crisis has had on popular attitudes to the European Union. Nor
is the collapse of confidence in the EU limited purely to countries that have
been required to slash wages and benefits in return for international financial
aid.
Europe’s
Institutional Mismatches Will Create More Turbulence in 2014 than in 2013 – Bruegel
Swedish Premier Drops
Stimulus Predicting Stronger Growth – BB
Krugman Urges
Scandinavia to Protect Welfare U.S. Dreams Of – BB
BANK OF ENGLAND
We will see about the MPC – alphaville
/ FT
Carney Guidance
Threshold Strained as BOE Holds Policy – BB
EUROPEAN CENTRAL BANK
ECB still on red
alert
– Merkelnomics
It looks as if he wanted to guide expectations away from a direct link
between lower inflation rates and new ECB action.
ECB’s Draghi Pledges “Decisive Action” – WSJ
Recap: ECB’s Draghi Maintains Dovish Tone – WSJ
Live blog: Mario Draghi at the ECB – FT
Draghi keeps low rates pledge, but is he playing with fire? – Reuters
Draghi Strengthens Pledge to Keep Rates at Record Lows – BB
MACRO NUMBERS
European Sentiment
Survey — still in trouble – TradingFloor
European business and consumer sentiment has improved steadily during
2013, but the slowdown at the end of the year, and a sectoral breakdown,
suggest that the euro crisis is far from over.
UNITED STATES
FEDERAL RESERVE
Central Station:
Growing Optimism at the Fed – WSJ
MACRO NUMBERS
Friday’s Jobs Number Could Be ‘Seasonally’ Hot – WSJ
Retailers' sales rise in December – Reuters
ASIA
Did Soros Just
Predict a China Crash? – BB
George Soros probably shouldn't expect any warm invitations to Beijing
-- not with the much-reviled short seller warning of a giant Chinese crash.
China Tells Banks to
Improve Disclosures in Shadow-Lending Fight – BB
China’s banking
regulator told lenders to publish data including off-balance-sheet assets and
interbank liabilities as the government steps up scrutiny of the shadow-finance
industry.
For Japanese,
Deflation Fears Linger Despite Rising Prices – WSJ
To end years of
deflation, Japan needs to convince people that wages will increase as the
economy recovers. But the latest data from the Bank of Japan shows people
remain unconvinced about their earning potential and the country’s economic
prospects for 2014, despite a recent upturn.
MACRO NUMBERS
China’s Inflation Tepid, and Set to Stay That Way – WSJ
China’s Producer Prices
Extend Longest Slump Since 1990s – BB
China inflation hits 7-month low, eases tightening fears – Reuters
Asian Stocks Fall as China Producer Prices Extend Decline – BB
OTHER
Deutsche Bank Offers
Up Forex Wisdom for 2014 – WSJ
Investment Outlook
January 2014: Seesaw Rider – PIMCO
Is Bond Valuation
Stretched? – BCA
The weighted average of 10-year bond yields in the major developed
markets has reached fair value, although this hides a fairly wide dispersion
across markets.
Is the equity market
really overvalued? – TradingFloor
The spectacular bull
market in equities last year has got the last standing bears out of their caves
pushing the notion that markets are overvalued. Our view is that equity
valuations have just normalised and they will continue up in 2014.
Shadow Banking – BB
The scale of it is almost unfathomable: over $70 trillion worldwide. The
Financial Stability Board says it poses “systemic risks” to the global
financial system. It’s growing at phenomenal rates in China and India and
booming in Western banking capitals as well.
EMEA Weekly – Danske
Bank
Russia: 2013
disappoints but better expectations for 2014
FINNISH
Kolme syytä euron korkeaan kurssiin – Henri
Myllyniemi / US
Kaikki mielipiteet eivät ole yhtä arvokkaita – Saska Saarikoski / HS
Finnwatchin veroparatiisiraportti kirvoitti
kielenkannat – Verkkouutiset