Good
morning!
All the coverage on ECB’s decision is in my ECB Watch-post (continuously updated). The
Federal Reserver’s QE3 is in Fed Extra.
Previously on MoreLiver’s:
17.9. US Close: Realization (I really liked this)
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
Due to popular demand, “currency wars” is
returning to a theatre near you
RBA minutes of the September meeting dominated Asia and a slightly dovish post-meeting
statement was reinforced by a firmly dovish tone in the minutes. Risk also
traded heavy during the session as traders focused on rising Japan/China
tensions
Market Preview: German ZEW survey on tap – Saxo
Bank
European markets are expected to open lower
Tuesday amid ongoing concerns about the Eurozone debt crisis. Markets are
keeping a close eye on German ZEW investor sentiment and UK CPI data due later today.
Danske Daily – Danske
Bank (pdf)
US equities decline on weaker-than-expected US key economic data and
the lack of statements from this weekend’s Eurogroup/ECOFIN meeting. Asian
markets follow the bearish trend from the US markets. Modest
movements in the major FX crosses this morning. Focus today on the German ZEW
indicator and several speeches by Fed governors.
Aamukatsaus – Nordea
(pdf)
USA:n teollisuudesta
heikkoja lukuja * Merkel ei usko pankkiunionin aikatauluun – euroalueen
ongelmat painavat vientiä * Öljymarkkinoilla noin kolmen dollarin syöksy alle
minuutissa
Aamukatsaus – Tapiola
(pdf)
Suomen osakemarkkinan
riskipreemio (tuotto-odotus) on korkealla viimeaikaisesta kurssinoususta
huolimatta. Tämän hetkisiin ennusteisiin nähden suhteutettuna osakemarkkinan
arvostus on edullinen. Markkinan suunta:
Osake- ja hyödykemarkkinat peruuttelivat eilen, kun elvytyksen alkuhuuma
ohitettiin. Huolia markkinoille aiheutti Espanjan korkojen hiipiminen jälleen
ylöspäin. Inflaatio-odotukset hypähtäneet hieman sekä USA:ssa että Euroopassa. Osakefutuurit
indikoivat laskuavausta.
Hope in successful post-crisis outcomes is
being replaced by a growing sense of déjà vu
* * *
Things That Make You Go Hmmm: Zor and Zam – The
Big Picture
Grant
Williams’ newsletter, very good – better than The Economist!
It's Just Getting Stupid! – ZH
Barclays: Investors seem to misremember history;
monetary policy was not the only driver of the rallies following QE2 and
Operation Twist. (good charts)
Risk aversion the lowest in over two years – Sober
Look