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Friday, March 20

20th Mar - Dull end of a nervous week



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EUROPE 
Fixing Eurozone with the return of the European Currency Unit (ECUxit) – Eurothinktank


Donald Tusk Falls Foul of Some With His European Summit Style – WSJ


EU Pledges to Extend Russia Sanctions, Delays Confirming – BB

Eurozone May Have to Boost Immigration to Avoid Growth Collapse – WSJ

Baltic Macro Outlook Q1 15 – Danske Bank

In Greece’s Bailout Talks, Why It’s 18 Eurozone Countries Versus One – WSJ

Of Greeks and Germans: Re-imagining our shared future – Yanis Varoufakis


The Danish Peg: Goldman Sachs Says It’s Here To Stay – WSJ


EU28 current account surplus €15.8 bn – Eurostat
  
UNITED STATES
Fed’s Yellen, Japan, and the Highly Imperfect World of ‘Expected’ Inflation – WSJ

A 3-D View of a Chart That Predicts The Economic Future: The Yield Curve – NYT

REGULARS
Daily Central Banks – WSJ
Blackstone’s Take: Lending Spurt Backs ECB Optimism * Fed’s Tarullo Supports Raising ‘Systemically Important’ Threshold * Top BOE Official Sees Possibility of Rate Cut * Beijing Helps to Drive Yuan Higher Against U.S. Dollar * BOJ Feb Minutes:Some Board Members Questioned Sustainability of JGB Purchases

Daily Macro – WSJ
Markets are again being lulled into complacency by the steady flow of liquidity from the European Central Bank and Bank of Japan, which only means they could be prone to other “flash crashes” in the dollar if and when officials give the impression that they believe it has risen too far. Remember also that tensions continue to rise in the eurozone over the relationship with Greece. The current calm could be illusory.

Danske Daily – Danske Bank

Euro rates update – Nordea

Eye-Opener – Nordea
Greece running out of EU’s time & patience * Third time’s the charm for the ECB * The USD regained its footing yesterday * Riksbank forecast changed

Daily Newsletter: Morning Markets – TF

Daily Shot – TF
Greece's situation is deteriorating, banks are losing deposits and the state is running out of money while a compromise with the Eurozone does not seem to be in close reach. In the meanwhile despite less pressure from the Fed, commodities remain depressed

US Open – ZH
Calm Ahead Of Today's Quad-Witching But Vol Surge Ahead

Martin Sandbu’s Free Lunch – FT
Piketty meets his match – Graduate student, 26, disproves return of the rentier

OTHER
New forecasts – ABN AMRO
We now expect first Fed rate hike in September and a more gradual pace of hikes in 2016 * New EUR/USD forecasts: 0.95 end of 2015 and 1.10 end of 2016 * Lower euro triggers upward adjustment to eurozone 2015 GDP growth forecast

5 Charts From the Week in Markets – WSJ
The Fed’s lack of impatience sends markets on a wild ride, while some say a rate increase would usher in Chairwoman Janet Yellen’s next challenge. Oil is bracing for another deluge and bond funds get ready to crown a new king. Here, in five charts, is a look at this week’s financial-market highlights.


FINNISH
Aamukatsaus – Nordea
Norjan keskuspankki piti ohjauskoron ennallaan | EKP:n QE-ostojen ensivaikutukset ohi | EKP:n rahoitusoperaatioiden kysyntä ennakoitua suurempaa

Valtion pääekonomisti: Suomi elää nyt vuotta 1938 – IL
Amerikkalaislehti uteli, onko Suomi nyt kuin jatkosodassa.

Julkistaloudella edessä pitkä ja raju säästökuuri – IL
Talouden karu tilanne äänestäjille tiedoksi ennen vaaleja.

Rahaministeriön Hetemäki SDP:lle: Neljä miljardia on eri kuin kuusi miljardia – Verkkouutiset

Ensin GREXIT sitten ECUXIT – Sami Miettinen / US

Viikon kirjoitukset: Fed, korot, Suomi ja Nokia – Roger Wessman

"Ennen eilistä pidin Rehniä ja Sipilää erittäin varteenotettavina" – Verkkouutiset

Kuinka julkisista menoista vähennetään kuusi miljardia? – Professorin ajatuksia

SDP sopeuttaisi neljä miljardia – leikkauksia vain 2,6 miljardia – Verkkouutiset

Soini: Pitääkö aina kyykyttää duunaria? – Suomen Uutiset

Kohti asiallista maahanmuuttokeskustelua – Sampo Terho

SDP:llä ja kokoomuksella tiukka kisa kakkossijasta – epävarmoja äänestäjiä paljon – YLE
Puolueiden kannattaa nyt terävöittää sanomaansa epävarmojen sielujen houkuttelemiseksi. Yle Uutisten uusin kannatuskysely paljastaa epävarmojen äänestäjien määrän olevan poikkeuksellisen korkea.