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
Economic
Calendar – Forexpros
MORNING BRIEFINGS
Europe’s Flash PMIs for December are
expected to show that “the worst is behind us”, although still below the
50-level. US and EZ CPIs will likely confirm that easy monetary policies will
be allowed to continue - with plenty of room to ease further.
European
markets are expected to open marginally higher Friday following an improvement
in Chinese manufacturing activity for December. Markets are keeping an eye on
the manufacturing PMI and CPI data in Europe, and US CPI due later today.
Chinese
December flash PMI increases, supporting our case for an ongoing recovery. EU summit
delays decision on eurozone budget and economic reforms to June. Fiscal cliff
talks show limited progress, negotiations likely to extend beyond Christmas. Market
movers today: EU summit, US and euro area flash PMIs, US and euro area CPI
Aamukatsaus – Tapiola
(pdf)
Osakemarkkinat peruuttelivat eilen USA:n budjettikiista
huolten myötä. Kiinan ostopäällikköindeksin ennakko osoitti jälleen parantuvia
näkymiä. Tänään paljon makrodataa sekä euroalueelta että USA:sta. Osakefutuurit
nyt aamulla plussalla, indikoiden nousuavausta pörssiin (kts. 6).
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat
EUROPE
EU Punts on Creating Timetable for Fiscal and
Banking Unions – Mish’s
This is a
step in the right direction, but only a baby step. What's really needed is a
plan and timetable to dismantle the eurozone. Don't count on that any time
soon. In fact don't count on it ever.
Credit
where credit’s due, the EU has surprised on the upside over the last 24 hours
or so, not only signing off on a revised Greek bailout plan to keep that show
on the road and agreeing that the ECB will supervise 150 or more of the bloc’s
biggest banks, but then pledging to set up a mechanism to wind down problem
banks.
EU leaders differ on further eurozone
integration – euobserver
Germany’s Favorite Rabble-Rouser Economist
Lashes Out – Testosterone
Pit
Hans-Werner
Sinn, President of the German Ifo Institute that issues the closely watched
Business Climate Index, is a thorn in the side of bailout politicians and
eurocrats.
ASIA
Further
hope to manufacturing and markets – beyondbrics
/ FT