Roundups &
Commentary
Frontrunning – ZH
Overnight: Politics And Apples – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Today’s front pages – presseurop
Daily press summary – Open Europe
Morning MarketBeat: Easy Money, the Abe Trade and the
Universal Put – WSJ
Broker Note Briefing – WSJ
BOJ, Monti's Decision – Marc
to Market
US session ahead
Pre-market
Commentary – Marketwatch
Pre-Market
Trading – CNNMoney
Pre-Market
– NASDAQ
Earnings
& Events – The
Street
MarketCurrents
– Seeking
Alpha
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
Euro’s High Note Could Yet Last Longer – WSJ
The euro is
ending 2012 on a high note. And, given renewed optimism about the euro-zone
debt crisis, this high note could last well into 2013.
Mario and Angela — the euro zone’s pivotal
pair – MacroScope
/ Reuters
Crisis
roundup
Monti Plans to Stay, but Just How He’s Not
Ready to Say – WSJ
Euro money market study 2012 – ECB
(pdf)
press
release / summary here
Research Bulletin No. 17 – ECB (pdf)
BANKING
UNION
Slow but real progress on resolving eurozone
crisis – The
A-list / FT
Jean
Pisani-Ferry: Agreeing to establish a common bank supervisor was the easiest of
the three steps towards an integrated financial framework. Establishing a
common resolution framework will be harder, because it implies giving a
European authority the power to distribute losses among shareholders and
creditors in several countries, close down banks and lay-off employees. Still,
heads of state and government made quite some progress on this front too.
The
political agreement reached early on December 13 by Europe’s finance ministers makes it highly
likely that legislation establishing a Single Supervisory Mechanism (SSM) with
the European Central Bank (ECB) at its center will be enacted in March 2013.
This is a big European success, high up on what was the range of possible
outcomes.
Bundesbank sceptical on EU banking union – euobserver
ASIA
The second coming of Abe… confirmed – alphaville
/ FT
OTHER
Morning Briefing (EU/US): Santa Claus Is Comin'
To Town – BNY
Mellon
Some longer
term thoughts on the USD
Puzzling out the U.S./U.K. Growth Gap – The
Source / WSJ
Where is the resource
stock rally? – Humble
Student
NEMO: The Five “Black Snakes” 2013 – Nordea
(pdf)
or the summary
IN FINNISH
Epävarmat saatavat:
Suomen Pankilla on vahva tase mutta jättimäiset riskit – SK
Keskuspankeissa
kaikkien aikojen aikapommi – TalSa
Keskuspankkien kokeelliset kriisitoimet vaikuttavat
vaarattomilta, mutta pankkien taseissa paisuu kaikkien aikojen aikapommi.
Rahakokeiden riskit paljastuvat äkisti, kun yksityinen luottojen kysyntä alkaa
taas kasvaa. Silloin keskuspankeilla on edessään vaikea valinta: raju inflaatio
tai entistä pahempi velkakriisi.