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on MoreLiver’s:
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EUROPE
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
GREECE
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 transcript – FT
MACRO NUMBERS
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
UNITED STATES
Game On – Tim 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 Push – WSJ
MACRO NUMBERS
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
ASIA
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
OTHER
The
Strange Urge to Raise Rates – Krugman
/ NYT
The
Slippery Slope of Disinflation – Krugman
/ NYT
Uncle
Warren Explains It All to You – Epicurean
Dealmaker
The most
interesting part of Buffett’s annual letter to shareholders – WaPo
REGULARS
Daily
Central Banks – WSJ
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
Macro – WSJ
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
Daily – Danske
Bank
Eye-Opener – Nordea
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
Comment – Marc
to Market
Dollar
Mostly Firmer, but Euro Recovers, Yuan Tumbles
Daily
Shot – TF
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.
US Open – ZH
Futures
Unchanged Despite Latest Chinese Rate Cut
FX
Update – TF
From the
Floor – TF
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
Newsletter – TF
Martin
Sandbu’s Free Lunch
– FT
Is
rebalancing working - one cheer for US and UK manufacturing
FINNISH
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
palkanalennuksista – Verkkouutiset
Selvä enemmistö suomalaisista jättäisi tukematta ehdokkaita,
jotka kannattavat palkkojen alentamista tai työajan pidentämistä.
"Vastuuton", "hyvin asioista perillä"
– Saksan valtiovarainministerin sanat kreikkalaiskollegasta ristiriidassa –
Verkkouutiset
Suomen julkinen alijäämä rikkoi EU-rajan viime vuonna
– Verkkouutiset
Julkisyhteisöjen alijäämä paisui viime vuonna 3,4
prosenttiin suhteessa bruttokansantuotteeseen.
Tuopin jäljet – Asiaton
Ulkoisvaikutukset ja eri bestit: alkoholi – Allan
Seuri
MAKROLUKUJA
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