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Tuesday, March 1

1st Mar - Big rally in stocks

Previously on MoreLiver’s:

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Peter Garnry: Negative rates: Good or bad for banks?TF

Gavyn Davies: Global slowdown spreads to the Eurozone FT

Paul Krugman: Europe StallsNYT

Portugal risks intensifyABN AMRO

Europe’s New Border Controls Exact a CostNYT

Coming (maybe) Brexodus of Eurocrats – Politico
FAQ:  UK's Referendum on EU Membership – Marc Chandler
To Brexit or Bremain, that is the question—analysis – CNBC
The vexing question of Brexit – Macro Man

Beware the steepeners in March – scrapping the PSPP deposit rate floor?Nordea
The next ECB meeting is approaching fast and once again we are in a position where markets have built up huge expectations as to what to expect from Draghi. Markets are expecting a cut of at least 10bp, leaving Draghi walking a thin line if markets are not to be disappointed (again). Nordea’s baseline is that curves will steepen, but what if the ECB decides to change the PSPP modalities scrapping the deposit rate floor? We take a closer look.

Euro area: large drop in core inflation delivers the final blow to the ECB – Pictet
Euro-area inflation back below zero, core rate down as well – Nordea
Supercore Inflation Guides ECB as Oil Muddies Price Outlook – BB

United States: core PCE inflation picked up markedly in January – Pictet

Editorial: How many times can the G-20 meet without doing anything? View / BB

Helicopter Money Might be Closer Than You ThinkView / BB

Chart bottoms. Commodities to do the unthinkable?Polemic’s Pains

Gary Shilling: Deflation Defeats Impotent Central BanksView / BB

Oil price recovery looks doomed to fail TF

China's PMI Reports Show Slowdown Deepening as Services Slip – BB
China: PMI showed little growth upside – Nordea
Capital Flight Delivers a Verdict on China – View / BB
Why China’s Economy Will Be So Hard to Fix – BB
Factory and services activity lowest since global crisis aftermath – FT

Danske DailyDanske Bank

China PMIs disappoint; risk-on in Asia; oil prices continue to climb * Signs of stabilisation in US manufacturing? * EUR rates – reached the bottom and digging * Cautious with SEK, Riksbank still watching

Morning MarketsTF
A new month and the official start of a new season in the northern hemisphere but markets lack a spring in their step: forex majors are generally trading in tight ranges and the leading equity indices are mostly less than a percentage point from their previous closes.

Daily FX Comment Marc Chandler
Markets Find Steadier Footing

Daily ShotTF
In China PMI is tending lower; and in Europe it's CPI - Central Banks need to do something about it. Meanwhile in the US high yield corporate bonds all of a sudden sharply outperform the S&P500. Capital is returning to leverage finance markets - for now.

Matt Levine’s Money StuffView / BB
Holdouts, Inquiries, Routers and Hats

Daily Press SummaryOpen Europe
Cameron hits back at accusations of scaremongering in EU referendum campaign following publication of official document on withdrawal process * Czech President voices support for potential referendum on EU exit * European Commission to announce refugee aid package for Greece while Merkel popularity rating bounces back after all-time low * EU and Canada agree to scrap controversial investment protection mechanism from free trade deal * UK asks other countries to consult government before intervening in EU debate * French government pushes back publication of new labour market reform bill * Eurozone inflation drops, raising pressure on ECB * EU competition chief rejects suggestions probes target US firms

Brussels PlaybookPolitico
Cameron’s Daft Punk strategy — Migration on G5 menu — Intern invasion

Stocks Squeeze Higher On "Super Tuesday" As Poor Macro Is Offset By Jack Lew's Soothing Words


FX UpdateTF
The RBA made its easing bias more explicit but AUD ignored this and rallied from support areas as all of the commodity currencies are finding support this morning.

From the FloorTF
The People's Bank of China lowered the reserve requirement ratios in a hope to boost the economy. The current manufacturing PMI however does not look that good.

Kiinan tehdasteollisuuden vaikeudet jatkuvat  *Suomen talous väläytti merkkejä paremmasta * Euroalueen inflaatio painui nollan alapuolelle * Ruotsin hulppeat BKT-luvut vahvistivat kruunua

VM: Paketin vaikutus noin 3,7 prosenttia yksikkötyökustannuksiin – TalSa
24 tuntia lisää työtä – lähtevätkö arkipyhät ja pekkaset? – TalSa
Rahaministeriön karu laskelma sopimuksesta – Verkkouutiset
SAK:n pääekonomisti: Kunnianhimoinen tavoite – YLE