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Thursday, April 16

16th Apr - Grexit fears, post-ECB calm

Previously on MoreLiver’s:

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Membership in the Euro area and fiscal sustainabilityNBP
In the peripheral countries where sovereign bond yields decreased sharply in the years 1996-2007, fiscal stance ceased to respond to sovereign debt accumulation.

Finnish parliamentary polls point to a new governmentDanske Bank

Wolfgang Schäuble dashes hope of Greek bailout deal – FT
IMF knocks Greek debt rescheduling hopes – FT
Greek Bonds Tumble On News IMF Rejected Greek Request To Delay Payment – ZH

Results of the Q2 2015 ECB Survey of Professional Forecasters – ECB
Mohamed A. El-Erian: Understanding Draghi – View / BB
Matt O'Brien: Why Europe’s most powerful man got covered in confetti – WaPo

Daily Central BanksWSJ
Hilsenrath’s Take: Yellen and Bernanke Go Separate Ways on Exit Strategy * Bullard: Now May Be Good Time to Start Raising Rates * Bernanke: Fed May Want to Abandon Fed Funds Rate * ECB’s Mario Draghi Says Stimulus Is Working * Keeping Yuan Stable Hits China’s Currency Reserves

Daily MacroWSJ
Grexit is back in the headlines. The Greek government reportedly asked how the IMF might receive a request for a loan repayment. The response was apparently not encouraging, sending Greek bond yields soaring. If the country runs out of money, default, capital controls and quite probably a withdrawal from the eurozone would follow.

Danske DailyDanske Bank

Euro rates updateNordea

Next stop zero on 10Y bund yield? * EUR/USD up on positive Draghi * EUR money market rates look too low

Daily FX CommentMarc to Market
Macros and the Dollar

Daily ShotTF
The latest news from oil markets seems to indicate that inventory growth is stabilising and production is flat – hence the surge in WTI futures. Meanwhile, the Russian recovery remains in effect with bond yields dropping to 2015 lows.

With Futures On The Verge Of A Major Breakout, Greece Drags Them Back Down; German 10Y Under 0.1%

From the FloorTF
WTI crude rose to a new 2015 high of over $56/barrel yesterday. But the market may be getting ahead of itself in terms of a shift in oil fundamentals, and a deceleration in the slowdown in US shale oil production is increasing the risks of a 'W'-shaped as opposed to a 'V'-shaped recovery.

Martin Sandbu’s Free LunchFT
Words of wisdom: Those who learn from mistakes have the best advice for the future

Ben Bernanke: Monetary policy in the futureBrookings

Diversity among Advanced Economies in Rebounding from CrisisPIIE

[video] IMF 2015 Fiscal Monitor – IMF
[video] IMF 2015 Fiscal Monitor – IMF
Transcript of the Fiscal Monitor Press Briefing – IMF
[video] Press Briefing: Global Financial Stability Report – IMF

 WSJ/IMF Panel Discussion: The Elusive Pursuit of InflationWSJ

‘Super taper tantrum’ ahead, warns IMFFT
The Fed’s first interest rate rise risks triggering a jolt to bond markets that could surpass the turmoil the central bank inadvertently set off in 2013

IMF tells regulators to brace for global 'liquidity shock'The Telegraph
Financial engineering that preceded the last two financial crises is back, IMF warns

Yllätyksetön EKP |  Iran-sopimuksen epävarmuus kasvoi | Fedin avomarkkinakomitean jäsenet äänessä täänään

Roger Wessman: Elvytys heikentänyt vientiä?Marketnoze