Previously on MoreLiver’s:
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EUROPE
Peter Garnry: Negative rates: Good or bad for
banks? – TF
Gavyn Davies: Global slowdown spreads to the Eurozone
– FT
Paul Krugman: Europe Stalls – NYT
Portugal risks intensify – ABN
AMRO
Europe’s New Border Controls Exact a Cost – NYT
BREXIT
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
EUROPEAN
CENTRAL BANK
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
United States: core PCE
inflation picked up markedly in January – Pictet
OTHER
Editorial: How many times can the G-20 meet
without doing anything? –
View
/ BB
Helicopter Money Might be Closer Than You Think – View
/ BB
Chart bottoms. Commodities to do the
unthinkable? – Polemic’s
Pains
Gary Shilling: Deflation Defeats Impotent
Central Banks – View
/ BB
Oil price recovery looks doomed to fail – TF
CHINA
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
REGULARS
Danske Daily – Danske
Bank
Eye-Opener – Nordea
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 Markets – TF
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 Shot – TF
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 Stuff
– View
/ BB
Holdouts, Inquiries,
Routers and Hats
Daily Press Summary – Open
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 Playbook – Politico
Cameron’s Daft Punk
strategy — Migration on G5 menu — Intern invasion
US Open – ZH
Stocks Squeeze Higher On "Super
Tuesday" As Poor Macro Is Offset By Jack Lew's Soothing Words
Frontrunning – ZH
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.
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.
FINLAND & FINNISH
Kiinan
tehdasteollisuuden vaikeudet jatkuvat *Suomen
talous väläytti merkkejä paremmasta * Euroalueen inflaatio painui nollan
alapuolelle * Ruotsin hulppeat BKT-luvut vahvistivat kruunua
YHTEISKUNTASOPIMUS
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