I included my updated views in last night's post - take a look, click the charts for larger versions and comments appreciated, as always...
Earlier on
MoreLiver’s:
Roundups
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
Reference
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
MORNING BRIEFINGS
Romney Opposes QEIII and Bernanke's
Reappointment: Today we take an in depth look at the question of whether Greece
will get the next tranche of aid from the Troika
Market Preview: Merkel-Samaras meeting in focus – Saxo
Bank
European markets are expected to open lower
Friday ahead of a meeting between Merkel and Samaras today. Expectations are
waning amongst investors for further stimulus in the US to boost growth,
following hawkish comments by a Federal Reserve member.
Danske Daily – Danske
Bank (pdf)
Morning Briefing (Europe/USA): Eight Days A
Week – BNY
Mellon
We look ahead to the key events between now and
the Presidential Election in November.
Aamukatsaus – Nordea
(pdf)
Luottamusluvut
vahvistavat euroalueen taantuman – Kreikkakeskusteluja seurataan * Teollisuuden
luottamuksessa ja asuntomarkkinoilla pientä piristymistä USA:ssa * Euroopan
huolet yhdistettynä vaisuun Kiina-dataan painoivat Saksan korkoja
Aamukatsaus – Tapiola (pdf)
Aamukatsaus – Tapiola (pdf)
Osakemarkkinat
laskivat , kun makrodata jäi hieman odotuksia heikommaksi. Euro jatkoi edelleen
vahvistumistaan suhteessa dollariin ja jalometallit nousuaan, joten elvytystä
odotetaan yhä. Markkinoilla hermoiltiin
pienestä pehmeydestä makrodatan osalta. Huhut Espanjan pelastamistoimenpiteiden
valmisteluista eivät riittäneet innostamaan markkinaa.
Osakefutuurit nyt
aamulla flättina, markkinat odottavalla kannalla. Suomiyhtiöiden loppukysyntä
ja kilpailuasema: Kuluttajavetoisuus ja vahva kilpailuasema suojaa kysyntä
riskeiltä.
USA
Minutes minutiae and open(-ended) questions – alphaville
/ FT
The participants noted that the Fed staff had
presented an analysis showing “substantial capacity for additional purchases
without disrupting market functioning”. But the staff part of the minutes
offered no details of this analysis.
Dueling Fed Presidents – Tim
Duy’s Fed Watch
Two Fed presidents at opposite ends of the
spectrum. I tend to think that the
middle ground will be pulled by recent data in the direction of Bullard, which
is why I see QE3 as less of a slam-dunk than the minutes seemed to imply.
Cooler heads at the FOMC should prevail,
avoiding QE3 – Sober
Look
Gasoline prices have risen considerably already
and food prices will rise as drought driven spike in agricultural commodities
makes its way through the system. More QE will increase these prices further
and aggravate an already difficult situation. Risks of such a program far
outweigh the benefits.
Treasury Yields Reverse Directions – dshort
CHINA