Google Analytics

Thursday, March 12

12th Mar - USD still ruling

Previously on MoreLiver’s:

Follow ‘MoreLiver’ on Twitter

Eurozone debt, bailouts and contagionvox
The re-emergence of spreads between peripheral and core Eurozone countries at the start of the Greek crisis came after a decade of homogeneous interest rates in the monetary union. This column investigates the behaviour of spreads through the lens of a theory of implicit bailout guarantees.

Euro area macro monitorDanske Bank
The latest positive surprises in euro area figures imply that we lift our already above consensus GDP growth forecast from 1.5% to 1.6% in 2015 and from 2.0% to 2.1% in 2016

Greece Bailout Talks: A GlossaryWSJ

Industrial production down by 0.1% in euro areaEurostat

Draghi-Backed Report Says Sovereign Debt No More a Risk-Free Bet – BB
The ECB’s QE Is Working Well – PIIE
Draghi Says ECB Action Can and Will Return Inflation to Goal – BB

Debt ceiling déjà vu – government default unlikelyNordea
Yet again, a fresh battle over the federal debt ceiling is looming. At some point the issue might grab the market’s attention, but not until late summer, if at all. Although the current suspension of the debt ceiling ends on 16 March, the federal government will not run out of money next week.

Deutsche Bank: "Is The S&P Ready For Rate Hikes?" – NoZH

Retail Sales decreased 0.6% in FebruaryCalculated Risk

Fed Fails Deutsche, Santander, BofA required to Submit New Plan – Calculated Risl
Stress Test Results: 28/31 Pass - Deutsche & Santander Fail, BofA To Re-Submit – ZH
Deutsche and Santander fail US stress test – FT
Why Did Deutsche Bank and Banco Santander Fail? – WSJ

Global finance faces $9 trillion stress test as dollar soarsThe Telegraph
The world is more dollarized today that any time in history, and therefore at the mercy of the US Federal Reserve as rates rise

Daily Central BanksWSJ
Hilsenrath’s Take: Banks Get Through the Fed’s Little Shop of Horrors * Fed Rejects Two Bank’s Capital Plans in Stress Tests * Senate Finance Committee Chairman Seeks More Details on Fed Leak Probe * China Likely to Roll Out Deposit Insurance, Free Up Rates in 2015 * South Korea Cuts Interest Rate

Daily MacroWSJ
The relentless fall in the euro and collapse in eurozone sovereign yields continue to hold market attention in a week when the ECB started up its massive bond purchase program. Everyone’s trying to puzzle out how low they can go. How long will it take the euro to reach parity against the dollar? Will yield differentials between Germany and other eurozone countries collapse to zero? How far along the yield curve will yields be negative? And will it help? So far the euro’s weakness hasn’t filtered through to industrial strength

Danske DailyDanske Bank

Factors as strong as gravity holding rates low * Is parity close by for EURUSD? * More easing from the Riksbank remains an option * EUR swaps set to go negative

Daily ShotTF
A raft of new economic indicators, all of which undershoot expectations, provides clear evidence of the fragility of China's economy. In Europe, meanwhile, the race to negative territory continues and almost a dozen countries there recorded 10-year yields of below zero yesterday.

FX Volatility Spikes As More Countries Enter Currency Wars; Euro Surges On Furious Squeeze After Touching 1.04

From the FloorTF
There's another surprise rate cut after Thailand yesterday, this time from South Korea, where the central bank cut its benchmark rate by 25 basis points to 1.75%.

Martin Sandbu’s Free LunchFT
There is more to Japan - and less to the UK and euro core - than meets the eye

Riksbank heikentää kruunua lisäkevennyksellä | Kiinan talous jatkoi hidastumistaan

Talouspolitiikan muunneltu totuusOlli Rehn / US
”Uskomaton” Suomi-luku paljastuiUS

Kiander ihmettelee osia B&V:n Suomi-raportista – MTV
Teknologiateollisuus: "Suomi ui todella syvällä" – TalSa
Kuntatyönantajat: B&V:n ehdotukset vakauttaisivat julkisen talouden – Verkkouutiset
Ei kovin paljon uutta Suomen strategiasta – Peter Nyberg

Wahlroos soimaa poliitikkoja - rikkaita rankaistaan helpoilla ratkaisuilla – IL
Wahlroos: Suomi on onnistunut täysin tärvelemään kilpailukykynsä – IL
Näkökulma: Nalle Wahlroos korjaa taloustieteen virheet – IL
Wahlroos paljasti ”mielenvikaisen” Nokia-mokansa – IS
Wahlroos yksityistäisi veden ja neuvoo lapsenteossa – TalSa
Wahlroos paljastaa päävastustajansa – KL
Wahlroos arvostelee "torakka-ajatuksia": lisävelkaa ja yhteisomistusta – Verkkouutiset

Vanhojen omakotitalojen hinnat loka-jouluk. -1,2% YoY – Tilastokeskus
Koko kaupan myynti tammik. -8,8% YoY – Tilastokeskus
Taloudellinen huoltosuhde heikentyi vuonna 2013 – Tilastokeskus