Previously on MoreLiver’s:
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
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
Has summit deal on EU budget become impossible? – Brussels
blog / FT
Tide turning in Euro-zone credit ratings? – Nordea
RECESSION
CEPR:
Euro-Zone Economy Suffers Recession Since 3Q 2012 – WSJ
Recession
now, stagnation in 2013 for euro zone – Reuters
The Euro
area is in recession – Nordea
Europe’s Recession – Dr Ed’s Blog
Eurozone Back
in Recession in Q3 – TIME
The
eurozone in recession in ‘all senses of the word’ – alphaville
/ FT
German
economy feels chill of eurozone recession – euobserver
French
Economy Survives for Now – WSJ
PIIGS
Steen's Chronicle: Social tension is now the
elephant in the room
– Saxo
Bank
We have
been surprised how little impact the strikes on the streets of Greece, Portugal and Spain have had on policymakers. But this
is finally changing: Eurogroup considers direct transfers to Greece.
IMF Draws Line in Sand on Greek Debt – WSJ
Is Rajoy considering an IMF-only bail-out? – alphaville
/ FT
Spain Will be Forced to Choose – Carnegie
The Greek debt trap: missing the wrong target – bruegel
NORDIC
More rate cuts in the pipeline – Nordea
(pdf)
We adjust
our forecast for the Riksbank’s repo rate. The reasons are surprisingly low
inflation and a hike in our unemployment forecast.
EURSEK – 8.70 in 3 months – Nordea
(pdf)
Lower repo
rate gives weaker SEK: Growth is deteriorating and the Riksbank lower its
reporate to 0,75% * Limited effects on the SEK from today´s level * We alter
our 3-month EURSEK forecast from 8,50 to 8,70
ECB
Monthly Bulletin, November 2012 – ECB (pdf)
Statistics Pocket Book, November 2012 – ECB (pdf)
The euro as a trusted means of payment – ECB
Speech by
Benoît Cœuré, Member of the Executive Board of the ECB, at the joint ECB-MNB conference
on “Cost and efficiency of retail payments: Evidence, policy actions and role
of central banks”, Budapest, 15
November 2012
The monetary policy of the European Central
Bank and its transmission in the euro area – ECB
Speech by
Mario Draghi, President of the ECB, Università Bocconi, Opening of the academic
year 2012-2013, Milan, 15 November 2012
UNITED STATES
Fed’s Lacker: Consumers, Businesses Under Cloud
of Uncertainty Until Congress Fixes Budget – WSJ
Distinguishing Between a Fed Threshold and
Trigger – WSJ
Fed’s Williams: Expect QE3 to Continue Well
Into 2013 – WSJ
ASIA
OTHER
Daily Quickie – HistorySquared
IMF on Credit Growth and Crises; Corporate Bond Bubble
Chart; Xi Jinping’s Backers
October 2012: The Month in Charts – Alpha
Now / Thomson Reuters
October
proved to be a tale of two market environments, as the benign, upbeat ‘risk on’
mood of early in the month gradually gave way to a growing degree of risk
aversion and even fear by the final trading day of the month.:
Global morning call –
Thursday – Nordea (pdf)
or read the summary
G10 Weekly: Strategic Scandi Outlook – Nordea
(pdf)
Swedish
macro landscape and policy outlook, Norwegian relative outperformance