Google Analytics

Thursday, November 26

26th Nov - Oct M3, lending in line

Previously on MoreLiver’s:

Follow ‘MoreLiver’ on Twitter

Schengen: going, going … gonePolitico
It is nonsense to assert that the death of Schengen would toll the knell for the free movement of people in Europe. Having to show your passport is hardly much of a barrier. The great magnet for young Italians, French and Poles is London. It has never been part of Schengen

Gideon Rachman: Germany’s isolation within Europe is growingFT
The Merkel years have seen Germany emerge as the undisputed leader of the EU. But the combination of migration, terrorism, Brexit and the euro also mean that Germany looks more isolated from its European partners than for many years.

Finland’s Problem Isn’t the EuroWSJ
Despite modest debt and a competitive economy, the Nordic country is on course for a fourth year of recession, but don’t blame the common currency

The impact of the euro on euro area GDP per capitaBank of Spain
We find that the euro did not bring the expected jump to a permanent higher growth path. During the early years of the monetary union, aggregate GDP per capita in the euro area rose slightly above the path predicted by its counterfactual; but since the mid-2000s, these gains have been completely eroded.

Hans-Werner Sinn: Can the Islamic State Unify Europe?Project Syndicate
If recent events have taught us anything, it is that the biggest threats to the EU stem not from inadequate fiscal risk-sharing, but from insufficient coordination on foreign-policy and security challenges. That is why, instead of continuing to push for unbalanced fiscal integration, the EU must pursue political union.

Monetary developments in the euro area: October 2015 – ECB
Euro zone bank lending “glacial” but improving – Reuters
Euro area: strong rebound in bank credit flows in October, with more to come – Pictet

ECB preview: The doves will get their way – Nordea
Draghi, a Rabbit, the Euro and the Magic Trick Traders Envision – BB
Any Euro Respite Before ECB Meeting, U.S. Payrolls May Be Brief – BB
Euro Languishes Near Seven-Month Low on Bets ECB to Add Stimulus – BB
Records Abound in European Bonds as ECB Feeds Negative Yields – BB
Euro on shaky ground, stocks up on talk of aggressive ECB easing – Reuters
Euro on the defensive as ECB easing bets grow – Reuters
ECB Failure Ruins 'Short of a Lifetime' – BB

The declining velocity of end of year predictions… and moneyFT

When bank balance sheets become scarce commoditiesFT

Morning MoneyBeat AsiaWSJ
U.S. Stocks Quiet Ahead of the Holiday

Morning MoneyBeat EuropeWSJ
Markets Celebrate Thanksgiving with Gains

Morning MoneyBeat US – WSJ

Danske DailyDanske Bank
Euro rates updateNordea

Broad EUR weakness as ECB easing looms, quiet day ahead in the US * ECB considering two-tier deposit rate * SEK as a trade of the year in 2016? * European bond yields drop on rumours on ECB easing

Morning MarketsTF
Thanksgiving may have come just in time for EURUSD which is battling hard to keep its head above 1.0600, but the dollar looks in fine fettle as it enters the extended holiday weekend.

Daily FX CommentMarc Chandler
Table is Set, Dollar Consolidates

Daily Press Summary Open Europe
Hammond warns restrictions on EU migrants’ access to benefits “non-negotiable” as UK experiences highest recorded net immigration * Former Italian PM: EU integration needs to allow for “different destinations” * Juncker: The euro doesn’t make sense without Schengen * No future for Schengen without binding EU refugee quotas says Merkel * European Commission’s lead negotiator hopeful UK deal can be agreed by February * EU countries still arguing over scope of financial transaction tax as December deadline draws closer * Reuters: ECB considering broader bond purchases ahead of key December meeting * Norway introduces tougher border controls

Brussels PlaybookPolitico
Merkel offers help — Turkeys and turkey

From the FloorTF
Asian markets were mixed and mildly positive overnight but nervousness over the standoff between Russia and Turkey after the downing this week of a Russian aircraft was reflected in a sharp drop in the Turkish lira after Turkey's government released documents which omitted the word "independent" from a description of the central bank.

Suomen asuntomarkkinakello tikittää vastapäivään * EKP:ssa suunnittellaan talletuskoron uudistamista * Ruotsin elinkeinoelämän luottamus vahvaa * USA:ssa markkinat ovat tänään kiitospäivän vuoksi kiinni

Raha ja Talous: IMF paljastaa huterat oletukset Suomen taloudestaImage

Rahaliiton viimeistelyn I vaihe 2015-2017 Antti Ronkainen

Vähittäiskaupan myynti lokak. -2,3% YoY- Tilastokeskus