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Wednesday, March 19

19th Mar - After Fed & Ukraine, back to EZ

Previously on MoreLiver’s:

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Where are the real fault lines in the EU?Open Europe
Ipsos Mori has this week published an interesting poll on public attitudes* in ten EU member states. Across the ten countries as a whole relatively few people want to leave the EU outright (18% on average), but the single most popular option is staying in the EU but reducing its powers (34%).

ECB watchdog tells Europe to prepare to shut 'zombie' banksReuters
Daniele Nouy's comments, including her plea for countries to form a united front in solving the problem, give an early indication of how the bloc's chief banking supervisor intends to tackle issues that show up in health checks this year.

Bankers fear leaks from ECB health checkReuters
Bankers are worried that sensitive information will leak out before the official publication of the bloc's review of bank balance sheets, triggering speculation and making investors uneasy.

The Post-Russian World Order – Project Syndicate
Putin's Options in Crimea and UkraineStratfor / Econmatters
Ukraine Folds? Prepares To Evacuate Citizens From CrimeaZH
The cost of escalating sanctions on Russia over Ukraine and CrimeaBruegel

A new direction at the Yellen Fed?Humble Student
Stanley Fischer, the not yet confirmed nominee to be Fed vice-chair, former head of Israel's central bank and former thesis advisor to Ben Bernanke and Mario Draghi, voicing an opinion about potential Fed policy: “we should never again be in a situation in which the public sector has to inject public money into failing financial institutions in order to mitigate a financial crisis”

For the FOMC, see my Special

China’s financial distress turns all too visibleFT
George Magnus: Country’s economic change will have deflationary consequences. Investors have a lot to worry about without cause to fret about China, but now they have that too. Trend growth is slowing down, and markets have been shaken up by the actions of the People’s Bank of China (PBoC), which is trying to tame a virulent credit boom.

China's "Minsky Moment" Is Here, Morgan Stanley FindsZH

China's Housing Problem In One ChartZH

Weekly Bond Update: Bond markets shrug off Ukraine crisisTradingFloor
Corporate bonds have been trading stronger this week, in spite of the unresolved political crisis in Eastern Europe. Meanwhile, interesting news from the Federal Reserve is expected tonight.

Things That Make You Go Hmmm...Grant Williams via ZH

Morgan Stanley's Latest Forecast For Every Major EconomyBI

Citi On International Finance As War By Any Other MeansZH

Saxo FX carry trade portfolios: Euro and Swiss franc fight backTradingFloor
Strong showings by the euro and Swiss franc were enough to condemn the USD-denominated World Carry portfolio to another bi-weekly loss of 0.6 percent. There are no changes to any of the four reference portfolios.

Fund Managers' Current Asset Allocation – MarchThe Fat Pitch
What has been particularly remarkable is how long managers have been highly overweight equities (virtually all of 2013 and so far in 2014). This is longer than any period during the 2003-07 bull market (yellow shading). In September, exposure to global equities was the second highest since the survey began in 2001.

Junk Bonds at $2 Trillion as Gundlach Pulls Back: Credit MarketsBB

Copper Plunges To Fresh 5-Year LowZH

Iiro Viinasen lamavuosien päiväkirjat julkiVerkkouutiset

Yle: Haglund tukisi Espanjaa, Sipilä eiVerkkouutiset

Japanin ”valuuttasodan” tulosRoger Wessman

Troikan tilintekoSampo Terho