Google Analytics

Tuesday, July 19

19th Jul - Turkey goes nasty post-coup

Previously on MoreLiver’s:

Follow ‘MoreLiver’ on Twitter

German macroeconomics revisitedSimon Wren-Lewis

What does the EU want from Brexit talks? – Open Europe
Deutsche Bank Brexit briefing shows where it thinks other banks will go – BI

European Court of Justice Ruling Weighs on Italian Banks – Marc Chandler
How to fix Italian banks – vox

Erdogan Unleashes Unprecedented Crackdown – ZH
Erdogan Goes Too Far, Market Warns As Lira, Turkish ETF Tumble – ZH
Turkish Lira Plunges On Reports of Teacher Sackings by the Government – WSJ
Turkey: 5th consecutive rate cut despite coup attempt – Nordea
Turkey: A highly important transit country for oil and natural gas – Nordea

Results of the July 2016 euro area bank lending survey – ECB
ECB bank lending survey: positive signs – Nordea

Tim Duy: Why the Fed Can't and Shouldn't Raise Interest RatesView / BB
The Federal Reserve may be working within a basic policy strategy that may be fundamentally flawed.

Fed's Mission Is Accomplished. So Why No Change?View / BB

When Bank Capital Standards Aren't Actually That StandardBB
A Federal Reserve working paper shows a wide variation in the way banking rules are implemented across jurisdictions.

Dollar Bull Case Intact: It is All About the PerspectiveMarc Chandler

Richard Koo: Why US Quantitative Easing “worked” better than other QEsFT

A Spanner in the Works: An Update to the World Economic Outlook – IMF
IMF WEO Update, July 2016 – IMF
Press Briefing: World Economic Outlook – IMF
IMF: Brexit is slowing world economy — and it could be worse – WaPo

Danske DailyDanske Bank

Rising risk in Chinese banks; negative Bund yields; risk is on the EUR * ECB lending survey most important event today * Bund yields below zero again * USD strong as risk appetite cools

Morning MarketsTF
Asian equities were mixed with the broad Asia-Pacific index falling and rally attempts held back by softer crude oil prices. The Reserve Bank of Australia's minutes of its July meeting seemed to set the stage for an August interest rate cut.

Euro wrap-upDaiwa

Daily Market CommentMarc Chandler
Dollar-Bloc Tumbles, but Euro and Yen Little Changed

Daily Market CommentMacro Man
Political kabuki? Markets don't care

Daily Market CommentPolemic’s Pains
The Turkey Quiz

Daily ShotTF
A failed coup in Turkey on Friday rattled financial markets broadly and the Turkish stock exchange had its biggest one-day drop in years on Monday though the selloff in Turkish bonds was less drastic and the lira recovered part of its steep Friday losses.

Daily Press SummaryOpen Europe
Kerry says UK remains “critical, vital” to US relationship with Europe and calls for “smoothest” possible Brexit * EU threatens to end Turkey’s membership bid if death penalty reintroduced * US State Secretary says TTIP deal more important because of Brexit * French Foreign Minister calls for common defence strategy post-Nice attack * Bundesbank proposes greater powers for Eurozone bailout fund * British manufacturers’ confidence at two-year low post Brexit, though few have seen any change in trading conditions * Bank of England MPC member argues bank right to wait for more information before responding to Brexit * Top European Court of Justice legal advisor says UK ‘Snoopers’ Charter’ “may be compatible with EU law * Portugal pledges greater fiscal effort in bid to avoid EU fine for excessive deficit * Germany’s populist AfD drops from third to fifth place in new poll * ECJ: EU countries “not compelled” to impose losses on investors in bank rescues, but they may found in breach of EU rules

Brussels PlaybookPolitico
Turkey trauma — Trade trauma — Republican circus begins

US Futures Dip, European Stocks Slide After EU Court Slams Italian Bank Bailout Plans


FX UpdateTF
The minutes of the Reserve Bank of Australia's July meeting suggest higher chances of an August rate cut than the market expected and have the Aussie in a race with the kiwi to the bottom while the action elsewhere has been lacklustre.

From the FloorTF
Nintendo shares are up by 125% on the hit status of its Pokemon Go game but although the game features a very strong revenue per daily average user value traders may well have gone a step too far.

Italian pankkisektorin ongelmiin ei ole helppoa ratkaisua * EKP:n kysely pankkien antolainauksesta julkaistaan tänään *​ Saksan rahoitusmarkkinoiden luottamus laskussa * Dollari korjasi perjantaina nähtyä nousua