Previously on
MoreLiver’s:
Roundups and
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global Macro Trading
The T Report: The Visible Hand – TF
Market Advisors
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
ECB's Marginal Facility Usage Soars – ZH
…one or
more banks saw their need for EUR explode in the last day of the month, sending
overall usage on this credit line to €7.8 billion, the most since mid-March,
and a surge of over €7 billion overnight.
Not Exactly The Greek Orthodox – ZH
The IMF has
suggested that Europe take the pain and Europe is refusing and so the IMF may decide not to fund and leave the nations
on the Continent to their own designs. Any extensions in terms will require
another $40 billion give or take and some countries might actually refuse to
participate as a matter of national politics.
There are
some worrying signs about the strength of the Greek government coalition
building this week. Between voting abstentions, public disagreements and new
strikes, it’s looking ever bleaker.
UNITED STATES
Fiscal cliff uncertainty remains high; likely
has been a drag on growth – Sober
Look
Construction Spending increased in September – Calculated
Risk
Investment Outlook November 2012: Time To
Vote! – PIMCO
Our
two-party system continues to play ping pong with the American people, and the
electorate is that white little ball going back and forth over the net.
‘Sandy’
Hurricane
Sandy Satellite Photos: Before And After – ZH
ISM
Manufacturing
Slightly
better than expected – Nordea
Increased
to 51.7 in October – ASA
Increased slightly
in October to 51.7 – Calculated
Risk
Unexpectedly
higher – The
Big Picture
Second
Month of Expansion – dshort
OTHER
G10 Weekly: Monetary policy – To infinity, and
beyond – Nordea (pdf)
The
assertion that central banks can create and control inflation under current
circumstances isn’t necessarily wrong, but definitely arguable.
Danske Markets: EMEA Weekly, Week 45 – Danske
Bank (pdf)
Impossible
to postpone Polish rate cut any longer * Russian inflation growth is cooling
down *
Global Credit Perspectives November 2012: Go
for Growth – PIMCO
Political
leaders will need to work together in order to effectively address the global
economy’s lingering fiscal issues and structural barriers to growth. In this
environment, investors should focus on bottom-up research in specific sectors
and companies that can grow significantly faster than their economies.