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Wednesday, December 19

19th Dec - US Close



Previously on MoreLiver’s:

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Roundups and Commentary
News – Between The Hedges
Markets – Between The Hedges
The Closer – alphaville / FT

The T-Report: Seasons in the Sun – TF Market Advisors
Tomorrow’s Tape – WSJ
Morning Briefing (Asia) – BNY Mellon
Europe: Sovereign Spreads Plunge To Nine Month Lows As EUR Breaks 1.33 – ZH
US: Stocks Slump Most In 5 Weeks – ZH

Reference
Debt crisis live – The Telegraph
The Euro Crisis Blog – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices
Economic Calendar – Forexpros

EUROPE
Silvio Berlusconi’s anti-European rhetoric means that he may yet hold the balance of power after next year’s Italian electionseuropp / LSE

The euro area’s need for stabilization in historical perspectivebruegel
How often does it happen that countries pertaining to the same economic area are in dramatically different business cycle positions? How severe is the divergence? How persistent is it?

Three structural reforms remain central for the euro in 2013bruegel
Structural reforms, banking union structure, political integration

UNITED STATES
Mind the rate riskalphaville / FT
Central banks have kept rates ultra-low since the financial crisis, trying to stimulate economic growth. Whether one regards this as successful or not, one can agree that it has costs. A line item with a particularly nasty looking question mark above it is a corporate bond bubble.

Great Graphic: Fical Cliff NegotiationsMarc to Market

Housing Starts at 861 thousand SAAR in November – Calculated Risk
Comments on Housing Starts – Calculated Risk
Housing Starts Fall In November, But Outlook Remains Bright – The Capital Spectator

OTHER
Long-term sovereign debt ratings – graphic of the dayThomson Reuters
Standard & Poor’s raised Greece’s sovereign credit rating to B-minus with a stable outlook from selective default, citing Europe’s efforts to keep the country part of the euro. Today’s graphic shows the credit ratings for the US, Japan and the euro zone.

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