Google Analytics

Tuesday, February 11

11th Feb - Yellen Ahoy!

Previously on MoreLiver’s:

Follow ‘MoreLiver’ on Twitter

Euroscepticism may have silver lining Hugo Dixon / Reuters
Capital Economics’ case for quitting the EU is as unconvincing as its case for leaving the euro.

It's The Euro, StupidFrances Coppola / Forbes

ECB Has Become Harder to Predict Under DraghiWSJ
European Central Bank President Mario Draghi has done a good job recently of keeping markets and observers on their toes. Veteran followers of the central bank’s moves say that he has developed a reputation of acting more flexibly than his predecessor Jean-Claude Trichet. Yet this flexibility has a flip side to it, namely that bank decisions are harder to predict than they once were.

The ECB’s bridge too farBruegel
Rather than constituting a great success, OMT may well be remembered as an error born of expediency. Worse, it could undermine the ECB’s hard-won independence and credibility. That is an outcome that the eurozone might not survive.

Look for Market to Push Back Against CarneyMarc to Market
The Bank of England's Quarterly Inflation Report will be released tomorrow, followed by comments Governor Carney.   He is expected to signal that despite the 7.0% unemployment threshold being approached, the recovery needs to strengthen and there is sufficient spare capacity to allow this to happen without posing inflation risks.  Interest rates can stay low for longer. 

Forward Guidance Gets a Shot in the ArmWSJ
A steep fall in unemployment to just above 7% at the end of last year has rendered the current form of guidance all but obsolete.

The economic fallout of Switzerland’s immigration votealphaville / FT
Switzerland's Immigration DislocationView / BB
Switzerland says ‘We’re full’Opinion / Reuters

Meet The Men With The Plan Behind Italy's Bloodless CoupZH
Spanish Homebuyer Offers Fell 23% Short of Asking Prices in 2013BB
EU Struggles With One Ukraine Policy Amid Default WarningBB
Hollande's Vacuous RebrandingView / BB

The debt ceiling — yes, againalphaville / FT
Grand Central: What Can Fed Do About a Debt Ceiling Crisis?WSJ
House Republicans Giving in to Democrats on Debt CeilingBB

What to Watch for in Fed Chairwoman Yellen’s TestimonyWSJ
Goldman's 5 Key Questions For Janet YellenZH
Yellen, new Fed chair, takes hot seat at CapitolReuters
US Macro Live, Janet Yellen testimony editionalphaville / FT

Grand Central: How to Watch Yellen’s Testimony – WSJ
Semiannual Monetary Policy Report to the Congress – FED
The Yellen Reaction: Stocks Down, Gold Down, Bonds Frown – ZH
Goldman's Yellen Post-Mortem: A Snoozer – ZH
Yellen Echoes Bernanke In First Congressional Testimony As Fed Chair – Forbes
Yellen Says Recovery in Labor Market Far From Complete – BB
Janet Yellen Doesn’t Mince Words and More on Her TestimonyWSJ
Fed Might Pause Taper if Outlook Worsened Notably, Yellen Says – WSJ
Fed Urges Emerging Markets to Take Heftier Policy Actions to Stem Capital Flight – WSJ

A Peek At Yellen’s Regulatory Agenda – WSJ

Blankfein Says Emerging Markets in Better State Than in ’98BB
China Watchdog Said to Tell Small Banks to Set Aside FundBB
Junk Yield Premiums Soar on China’s Looming First DefaultBB
Kazakhstan Devalues Amid Outflows From Emerging MarketsBB
Competitive devaluation is a go, starting in the ‘Stans – alphaville / FT
Great Graphic: A Decade of Fund Flows in One ChartMarc to Market

Currency Devaluations: Good, Bad or Plain Ugly?WSJ
Commodities Update Danske Bank