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Thursday, March 31

31st Mar - US payrolls ahead

Previously on MoreLiver’s:

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When ̶p̶i̶g̶s̶ helicopters flyNordea
Helicopter money is the ultimate weapon to revive inflation. The practical implementation of the theoretical concept contains many complexities, especially in the Euro area. The capacity of different countries for helicopter drops varies a lot, and e.g. the Greek and Spanish central banks would have much less buffers to give away compared to Ireland and Italy. Helicopter Mario will not take off, unless deflation becomes a real threat and other measures have been exhausted.

Corporate Bond Yields Touch Record Lows in Europe’s PeripheryWSJ
Nonfinancial bond issuers in the credit starved nations of southern Europe are currently recording their lowest bond yields ever

Where next for the ECB? Part 1 Open Europe
We begin by examining the current state of play and seeing whether the latest ‘big bazooka’ by Mario Draghi is really as impressive as many think.

Core euro area inflation surprises on the upsidePictet

Is the Fed at war?TF
Was Yellen's extremely dovish performance on Tuesday a reassertion of her leadership to quell dissent within the ranks or should we not be reading too much into the mixed messages dominating the airwaves?

No quick fix for US potential GDP growthDanske Bank
Output and labour gap to close faster than Fed thinks

5 Things to Watch in the March Jobs ReportWSJ
Goldman: March Payrolls PreviewBill McBride

Danske DailyDanske Bank

Euro rates updateNordea

Fed hike hopes fading, USD catching breath ahead of Friday data, euro area inflation at 0% * Euro-area inflation to rise in March * Market losing hope in Fed June hike * USD weakening likely to resume as key technical levels tested

Morning MarketsTF
Wednesday's gains on Wall Street buoyed sentiment in Asian markets with the lingering USD weakness apparent in forex markets and risk sentiment. The ADP payrolls print came in ahead of expectations as well priming investors for a strong nonfarm payrolls report Friday.

Daily Market CommentMacro Man
5 charts on corporate profits

Daily ShotTF
Emerging markets have been through a deeper recession than was seen in 2008-09 and Taiwan is one economy that has been sputtering due to the global demand slowdown especially in China. But investors are returning to Tawan and other Asian emerging markets. Meanwhile Chinese investors are flooding into the US shifting money out of the way of further yuan depreciation. And policy divergence means that fewer US rate hikes will be needed a Fed official says.

Daily Press SummaryOpen Europe
New poll finds strong support for Boris Johnson to take over as Tory party leader * IMF still seeking larger budget cuts in Greece * President of Germany’s Ifo Institute: British EU reform demands would benefit the EU * Italian Finance Minister: EU fiscal rules damage Italy more than other countries * EU referendum uncertainty and poor Eurozone growth seen impacting consumer confidence * SPD considering running federal election campaign on basis of renewing grand coalition * France drops controversial plans to strip terrorists of citizenship

Brussels PlaybookPolitico
Satire saga — Mega mergers — Brussels attacks latest

On Final Day Of Extremely Volatile Quarter, Futures Trade Modestly Lower


From the FloorTF
What Saxo Bank's Christoffer Moltke-Leth describes as "a hectic and volatile quarter" initially chugged along towards a peaceful finish on this final day of March as volatility dipped to a 6-month low Asian shares ended narrowly mixed and broad satisfaction with the Fed's recent flash of dovish sentiment underpinned forex majors.

Ruotsin asuntomarkkina kuumottaa – muttei romahda * Euroalueen inflaatio kiihtyy nollaan * Euroalueen talouselämän luottamus laski maaliskuussa * USA:n yksityisen sektorin työpaikkojen (ADP) kasvu oli likimain ennusteiden mukainen