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 – WSJ
US: Volatility Hammered As Stocks And Bond Yields
Close At Highs– 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
The Eurozone’s Delayed Reckoning – Project
Syndicate
Nouriel
Roubini: The tail risks of a Greek exit from the eurozone or a massive loss of
market access in Italy and Spain have been reduced for 2013. But the
fundamental crisis of the eurozone has not been resolved, and another year of
muddling through could revive these risks in a more virulent form in 2014 and
beyond.
The probability of Greek exit, revisited – voxeu.org
Jens
Nordvig: Fears of an imminent Greek exit from the Eurozone have subsided, for
now. This column attempts to measure the probability of a Greek exit, finding
that the changing fortunes of Greek political parties, and the possibility of
an early election, mean that the risk of a Greek exit may actually be quite
high. It suggests that, despite investors' efforts to measure political risk, a
persistent sense of unease about the Eurozone’s future is set to continue into
2013 and that Eurozone financial assets will thus continue to embed significant
risk premiums in the coming years.
Dutch finance minister mooted for Eurogroup
post – euobserver
Growth problem – Buttonwood
/ The Economist
It may well
be that European economies would perform better collectively if austerity
programmes were relaxed. But it is a stretch to believe that Europe can return to the growth rates seen
in the 1960s or even the 1970s. And those rates might be needed to make the
debt problem go painlessly away.
The eurozone’s struggling economies are
increasingly selling citizenship to raise much needed capital – europp
/ LSE
How far
should countries go to encourage foreign investment? Jelena Dzankic writes that
in a time of economic crisis, some countries in Europe are now seeking investment in
exchange for citizenship.
Speech Mario Draghi – ECB
Introductory
statement at the hearing of the Committee on Economic and Monetary Affairs of
the European Parliament
UNITED STATES
The Fiscal Cliff and US Foreign Policy – Project
Syndicate
Global
markets are watching nervously as the US approaches the “fiscal cliff,”
knowing that falling over it could well throw America – and the world – back into
recession. But foreign ministries around the world should be equally nervous:
Unless the US gets its fiscal house in order, it
will be forced to abdicate global leadership.
Four Reasons Why There Is No 'Pent-Up' Capex
Spend – ZH
Morgan Stanley: While US inventory levels seem leaner than those outside the US, a big inventory build requiring a capacity surge seems implausible.
Morgan Stanley: While US inventory levels seem leaner than those outside the US, a big inventory build requiring a capacity surge seems implausible.
ASIA
On Sunday
Japanese voters gave Shinzo Abe and the LDP a landslide win. Can he revive Japan's growth prospects?
or read the
summary
OTHER
Sentiment and trading views – Behavioral
Macro
Gold,
Silver, AAPL and Mortgage REITs
Emerging Markets Briefer Dec-2012 – Danske
Bank (pdf)
Yield Forecast Update - Curve steepening to
continue – Danske
Bank (pdf)