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Monday, March 2

2nd Mar - ECB, US payrolls this week

Previously on MoreLiver’s:

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How Much More Economic Pain Can Vladimir Putin Take?BB
It looks like the one-two punch of sanctions and cheap oil are about to wreck Russia

A handy Greek payment timeline – FT
Just How Much Did Greece’s Election Roil Its Recovery? – WSJ
Greece seeks to renegotiate bond payments to the ECB – Open Europe
Spain's De Guindos says euro zone in talks over third Greek bailout’ – Reuters
Keynesians - Stop Talking! Start Working! – Klaus Kastner
Dijsselbloem interview: the annotated transcriptFT

Euro area annual inflation up to -0.3% - Eurostat
Euro area unemployment rate at 11.2% - Eurostat
Euro zone February prices fall less than expected, unemployment down – Reuters
Deflation risks are still here, but smaller – Nordea
Finland: Almost all GDP components fell in Q4 – Nordea

Game OnTim Duy
The Fed is sending a clear message that the subsequent path of rates is also very uncertain, and they don't think that uncertainty is being taken seriously by market participants. In their view, financial markets are too complacent about the likely path of interest rates.

Wage Pressures May Give Fed PushWSJ

Savings Rate Surges To Highest Since 2012 As Consumers Save "Gas Tax Cut" – ZH
Personal Income increased 0.3% in January, Spending decreased 0.2% - Calculated Risk
U.S. Inflation Undershoots Fed’s 2% Target For 33rd Straight Month – WSJ
ISM Manufacturing index declined to 52.9 in February – Calculated Risk
ISM review: Manufacturing negatively affected by port delays – Nordea

China: manufacturing PMI remains subdued but signs of stabilisation – Danske Bank
PBoC interest rate cut suggests more focus on inflation target – Danske Bank
Prudence and the PBoC: Why China cut policy rates again – FT

Is More QQE The Answer For Japan?Alpha Now

Dollar Drivers: Central Bank Meetings, US Jobs, and MoreMarc to Market

The Strange Urge to Raise RatesKrugman / NYT
The Slippery Slope of DisinflationKrugman / NYT

Uncle Warren Explains It All to YouEpicurean Dealmaker
The most interesting part of Buffett’s annual letter to shareholdersWaPo

Daily Central BanksWSJ
Hilsenrath’s Take: Governor Zhou Reverses Tactic as China Outlook Worsens * Fed Ushers in a New Era of Uncertainty on Rates * Fed Officials Beat the Rate-Hike Drum * Fed’s Dudley: Markets May Force a More Aggressive Rate Hike Cycle * China’s Rate Cut Renews Economic Concerns

Daily MacroWSJ
Notable that concerns about the strength of the global economy have shifted from worrying about Europe’s lagging contribution to that to that of China.  (MC)

Danske DailyDanske Bank

China cut rates again, busy week for data, more details from ECB. First rise in Euro-area prices since June last year? Another failed attempt by German yields to head higher EUR/USD and NOK/SEK uptrends kaput

Daily FX CommentMarc to Market
Dollar Mostly Firmer, but Euro Recovers, Yuan Tumbles

Daily ShotTF
China has cut its benchmark interest rate for the second time this year as low growth and deflationary pressures hit the economy. The US, on the other hand, appears to be growing closer to a rate hike, but any timing errors from the Fed could put a real damper on equity markets.

Futures Unchanged Despite Latest Chinese Rate Cut

FX Update – TF

From the FloorTF
Dollar's rally is putting the relatively weak euro under severe pressure with a path to 1.1000 and beyond opening up. Elsewhere, the People's Bank of China rate cut is filtering through to markets and Maersk looks like a prime pick.

Daily NewsletterTF

Martin Sandbu’s Free LunchFT
Is rebalancing working - one cheer for US and UK manufacturing

Aaamukatsaus Nordea
USA:n työmarkkinadata korjaa liikkeitään | Öljyn hinnan palautuminen ei muuta deflaationäkymiä | Päivän tärkein julkistus on Euroalueen inflaatio

SAK tilasi tutkimuksen: Äänestäjät eivät innostu palkanalennuksistaVerkkouutiset
Selvä enemmistö suomalaisista jättäisi tukematta ehdokkaita, jotka kannattavat palkkojen alentamista tai työajan pidentämistä.

"Vastuuton", "hyvin asioista perillä" – Saksan valtiovarainministerin sanat kreikkalaiskollegasta ristiriidassaVerkkouutiset

Suomen julkinen alijäämä rikkoi EU-rajan viime vuonnaVerkkouutiset
Julkisyhteisöjen alijäämä paisui viime vuonna 3,4 prosenttiin suhteessa bruttokansantuotteeseen.

Tuopin jäljetAsiaton
Ulkoisvaikutukset ja eri bestit: alkoholiAllan Seuri

Verokertymä +1,5%  vuonna 2014 – Tilastokeskus
Julkisyhteisöjen velka/BKT nousi 59,3 prosenttiin vuoden 2014 lopussa – Tilastokeskus
Bruttokansantuote -0,2% viimeisellä vuosineljänneksellä – Tilastokeskus
Bruttokansantuote -0,1% viime vuonna – Tilastokeskus