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Thursday, September 11

11th Sep - Quiet waiting

Previously on MoreLiver’s:

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The Juncker off-site: Moscovici vs KatainenFT

European ‘Project’ Not Irreversible, New Paper SaysWSJ
There is still a modest risk that a weak economy and rising political dissatisfaction could unravel Europe’s currency union, despite gradual, halting progress toward further integration there, according to new research.

George Soros: Britain needs greater unity not a messy break-upFT
With threats to shared values from many fronts, this is not the time to consider isolation

The Catalan VoteFistful of Euros
Why It’s Time To Start Getting Worried About Complacency In Madrid

To survive, the eurozone must embrace an “all for one, one for all” mindsetFT

Russia faces new U.S., EU sanctions over Ukraine crisis Reuters

Scottish Independence: What the U.K. Would Look Like if ‘Yes’ Camp TriumphsWSJ

We should celebrate this Scottish voteTradingFloor
Scottish referendum vote to take place on September 18 * Run-up to vote has already seen significant impact on sterling * Voting process offers dramatic vindication of European values

Scotland and the SNP: Fooling yourselves and deceiving othersMainly Macro

The pound and the Scottish vote: What to do?TradingFloor
A Scottish Yes vote is far from priced into the pound * UK vs. US yield rate spread points to markets anticipating a No * Shorting EURGBP via options could bring rewards if vote upholds status quo

Known unkowns in the Scottish referendum pollsFT

The ECB’s Plan is Shaking Up the Sleepiest BondsWSJ

End Europe’s deflationary mess with a 4% nominal GDP (level) targetMarket Monetarist

Statistics Pocket Book, September 2014ECB

Monthly Bulletin, September 2014ECB

Fedspeak Cheatsheet: What Are Fed Policy Makers Saying?WSJ

Japan: BoJ now unlikely to ease in 2014Danske Bank

China’s anti-corruption trillionsFT
Nomura: anti-corruption cash being swept up in China might end up in the coffers of local and central government

Daily Central BanksWSJ
Hilsenrath’s Take: Can The Fed Drop “Considerable Time” Without Spooking Markets? * BOE’s Carney on Possible Challenges of ‘Sterlingization.’ * Euro Still Too Strong, Says Bank of France Governor * BOJ Kuroda Assures Abe Will Act if Necessary * Negative Interest Rates Still Option for Swiss

Daily MacroWSJ
Fresh yen weakness boosted Japanese equities overnight, but otherwise Asian trade was muted as was the start to the European session. The focus now is next week’s Federal Reserve policy meeting and Scotland’s independence referendum. Some analysts are expecting the Fed to hint that rates might start to rise a lot sooner than had been previously anticipated, maybe soon after the latest asset purchase program comes to an end next month. As for the U.K., the odds favor a no vote on Scottish independence, but with negative longer-term repercussions nonetheless as uncertainty grows about the movement’s longevity.

Six Talking PointsMarc to Market
Dollar's rally reflects a shift in expectations of Fed policy? * Many considerations that influence long-term interest rates, and Fed policy is only one of them * Unorthodox easing by central banks has depressed volatility throughout the capital markets? * Simple economic determinist explanations and predictions * Yen is the weakest of the major currencies * More talk about rising price pressures, the evidence remains elusive at best.

EMEA WeeklyDanske Bank

VM: Luottoluokituksen laskua dramatisoidaan turhaanYLE

Kalevan päätoimittajasta valtioneuvoston viestintäjohtajaVerkkouutiset

Julkistamme "Mitrohinin listan" KGB-kontakteistaVerkkouutiset

EKP:n toimilla on vaikutusta talouskasvuunRoger Wessman

Uusi komissio ja vangin dilemmaJuhani Huopainen / US