International Energy Agency came out with a report and projected that US will overtake Saudi Arabia in terms of oil production by 2020. That's some heavy news and has a lot of implications financially and strategically.
Reformed Broker came out with a nice idea that 2013 will be a play between fiscal issues and housing. If the housing markets take off, the economy could be saved, but also the budget cuts and tax hikes could take the economy down. It could be a question which one 'shoots first'
Previously on MoreLiver’s:
10-Nov Weekender: Weekly Support (updated)
Roundups and
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global Macro Trading
The Closer – alphaville
/ FT
Roundup – A
View From My Screens
Roundup – Kiron Sarkar / The
Big Picture
Tomorrow’s Tape: Business Optimism, Home Depot
Earnings – WSJ
Europe: Greek Banks Slump,
Spanish Bonds Dump, Juncker 'Fist Pump' – ZH
US: A Whole Lotta Something Going On – ZH
Reference
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
Economic
Calendar – Forexpros
EUROPE
Slow but steady? External adjustment within the
Eurozone starts working – voxeu.org
Why aren’t
Eurozone imbalances adjusting? This column argues that there is heartening
evidence that they are. Labour markets are beginning to be reformed across Europe, thereby increasing countries’
competitiveness. However, the road ahead will surely long and hard; for
external adjustment to really work, it is crucial that financial markets start
to take a lead supportive role.
ECB Should Open Its Chamber of Secrets – View
/ BB
EUROGROUP MEETING
Comments from euro zone finance ministers and
officials – Reuters
Euro zone
finance ministers and officials met in Brussels on Monday to discuss the situation
in Greece.
Greece will get two more years to reach
previously agreed budget goals but the extra will cost the euro zone an
additional 32.6 billion euros, draft documents prepared for a meeting of euro
zone finance ministers showed on Monday.
Leaked Greek troika report: devil in the
details – Brussels
blog / FT
Greece will need as much as €32.6bn in new financing if the programme is extended through 2016…direct link to the troika draft (pdf)
Greece will need as much as €32.6bn in new financing if the programme is extended through 2016…direct link to the troika draft (pdf)
FRANCE
The Socialist Dilemma of François Hollande: To
Be Schröder or Zapatero? – PIIE
Despite his
cultivated image of “Mr. Normal,” President François Hollande of France remains an enigma on the European
policy scene. What kind of socialist president will he be in the next five
years?
The German
government is increasingly concerned as well as outspoken about France's economic situation and its
inability to act. Authorities in Paris are aware of the slump in industry
but nonetheless irritated by the German pressure.
UNITED STATES
HOUSING
Is a
Recession Impossible With Rising Home Prices? – PragCap
Merrill
Lynch Revises up 2012 House Price Forecast to 5% increase – Calculated
Risk
FISCAL
CLIFF
The Case
Against a “Grand Bargain” – The
New Yorker
The
Absolute Moron’s Guide to the Fiscal Cliff – New
York Mag
A few more
thoughts on Fiscal Agreement – Calculated
Risk
Moody’s
Analytics Expects Fiscal Cliff Deal – WSJ
“Fiscal
cliff” was smart branding until it was stupid; and other stuff – alphaville
/ FT
OTHER
IEA REPORT
U.S. to Be World’s Top Oil Producer in 5
Years, Report Says – NYT
US to
become the biggest oil producer, says IEA – ASA
End of a Crude Alliance Between U.S. and the Middle East? – The Source / WSJ
End of a Crude Alliance Between U.S. and the Middle East? – The Source / WSJ
EM energy:
nuggets from the IEA – beyondbrics
/ FT
Daily Quickie – HistorySquared
Commodity
Price Cycles; Greenspan’s Bubble Talk; Rising Debt in Asia -
Global business confidence lowest since 2009 – Sober
Look
SocGen: Assessing the Two Biggest Market Risks – PragCap
US fiscal cliff and prevailing
uncertainty, growing inequalities in China
IN FINNISH
Saako ministeri
siirtyä etujärjestöön? – IS
Tarinat, joita ei
uskalleta kuunnella – HS
Suomen
pelastusohjelma pitää käynnistää nyt – HS