On this day in 1981, MTV made its
cable-television debut. The first music video aired on MTV was “Video Killed
the Radio Star“ by the Buggles. – MarketBeat
/ WSJ
News &
Recap – RanSquawk / ZH
Frontrunning
– ZH
The Lunch
Wrap – FT
Emerging
N.Y. headlines – FT
Today’s
front pages – presseurop
Daily press
summary – Open
Europe
Morning
MarketBeat: Pressure Piles on Fed – WSJ
Broker Note
Briefing – WSJ
Morning
Take-Out – NYT
AM Dear
Dairy: CBs on Deck – Macro
and Cheese
The Broken
Transmission – Marc to
Market
The Fed will Disappoint but it Won’t Matter – TF MarketAdvisors
Pre-market
Commentary – Marketwatch
Pre-Market
Trading – CNNMoney
Pre-Market
– NASDAQ
US Equity Preview – Bloomberg
Earnings
& Events – The
Street
MarketCurrents
– Seeking
Alpha
Debt crisis:
live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
EUROPE
It’s about time to buy burnt-out European
stocks – MarketWatch
A currency that may implode at any moment. A
collapsing banking system. A deepening recession, with no flexibility to boost
growth through either monetary or fiscal policy. Making a bear case for
euro-zone equities right now is easy.
Draghi is set to disappoint – MacroBusiness
Given the constraints it is quite possible that
Draghi is about to under deliver on the
expectations he has created.
ECB's watchdog could get power to order bank
closures – Reuters
Draghi Reshapes ECB Crisis Pragmatism as
Trichet’s Dogma Fades
– BB
The ECB May Get Much Bolder – Euro
Crisis / BB
ECB Preview: Show us the "full Monti" – Danske
Bank (pdf)
ECB might not be able to deliver anything
specific already on Thursday though, as it needs more time to coordinate with
EFSF, Italy and Spain. Draghi’s comments have apparently been a surprise to many of his
central bank colleagues, which suggests he did not secure backing for new
initiatives ahead of his speech. We therefore see a risk that markets will be
disappointed on Thursday.
USA (see also my Special)
FOMC Preview – PragCap
Likely market reaction – a big dump followed by
a comeback when investors realize the world isn’t going to end just because the
baby didn’t get its pacifier. And if I
am wrong and the bazooka gets triggered tomorrow, well, I’ll see you on the
other side of a 2% rally.
Fed Wraps Up Meeting as Markets Await Action – TIME
Fed to signal more easing but stop short of big
steps – Reuters
The Federal Reserve is likely to show on
Wednesday that it is ready to act against a weakening economy but stop short of
aggressive measures for now.
CHINA
Those Asian
PMIs at a glance – beoyndbrics
/ FT
China’s Q2 bottoming-out proves elusive – alphaville / FT
China’s Q2 bottoming-out proves elusive – alphaville / FT
The sound
of falling Chinese USD reserves… – alphaville
/ FT
China’s balance of payments (ex. reserve account) turned negative in Q2 – ASA
China’s balance of payments (ex. reserve account) turned negative in Q2 – ASA
China’s two-way liquidity risk: Capital
outflows – alphaville
/ FT
China’s two-way liquidity risk: shadow
banking – alphaville
/ FT
PMIs
show stabilisation but weaker exports could spoil the recovery
OTHER
July's Winners And Losers – ZH
Deutsche’s
charts of asset performance
Wall Street
strategists have become most bearish on equities since the beginning of time – ASA
Strategists Most Bearish on Equities since 1985 – The Big Picture
Strategists Most Bearish on Equities since 1985 – The Big Picture