Japan’s central bank moved to inflation
targeting and announced QE, as was more or less expected – but fiscal cliff
negotiations in US are putting pressure on the markets. Stock indices still
have bit more downside left – even in a bullish scenario. USDJPY actually down
after the Japanese announcement, so again a case of buy the rumor, sell the
news.
Previously on MoreLiver’s:
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
Today's
update on UK retail sales will bring more clues for evaluating the odds of a
triple-dip recession, while jobless claims and existing home sales data for the
US are likely to support the outlook for modest economic growth.
European
markets are expected to open in the red Thursday amid concerns that talks over
the US fiscal cliff have turned sour. Meanwhile,
traders will track UK retail sales and US GDP data due later today.
Danske Daily – Danske
Bank (pdf)
Aamukatsaus – Nordea (pdf)
BoJ taipui elvytykseen * Paremmat ajat lähestyvät Saksassa?
* Etelä-Korean versio rautarouvasta
Aamukatsaus – Tapiola
(pdf)
Osakemarkkinoille eilen vaihteeksi vastatuulta USA:n
budjettineuvotteluista. Saksan IFO -indeksistä eilen jälleen positiivinen
yllätys. Osakefutuurit nyt aamulla miinuksella, indikoiden laskuavausta
pörssiin. Citycon ostaa Ruotsista Kista Gallerian ja Elisa ostaa PPO:n EUR
101m:llä. Nyt hyvä hetki ostaa: Olvi, Alma Media, Nokian Renkaat, Stockmann ja
Huhtamaki Nyt hyvä hetki myydä: Outokumpu, Rautaruukki, Nokia, Sponda ja
Talvivaara.
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat
EUROPE
Who Will Keep The German, And Thus Europe's, Economy Running? – ZH
Goldman Sachs notes that the number of immigrants coming to Germany is rising strongly again. While it is not clear at this point how sustainable this development is, it will nonetheless help to ease the strains in the German labour market.
Goldman Sachs notes that the number of immigrants coming to Germany is rising strongly again. While it is not clear at this point how sustainable this development is, it will nonetheless help to ease the strains in the German labour market.
ASIA
BOJ Loosens With Pledge to Review Inflation
Objectives: Economy –
BB
Under pressure from PM-elect, BOJ boosts
stimulus again – Reuters
The Bank of
Japan delivered its third dose of monetary stimulus in four months on Thursday
in a prelude to more aggressive action next year, as it faces intensifying
pressure from the country's next leader for stronger efforts to beat deflation.
The policy
move was as is expected and not quite the Abe QE that has sparked the massive
move in stock market and yen. The next
meeting is big as the Prime Minister Abe will be in power. The Nikkei is a down about 1 percent on
profit taking and the yen a bit stronger.
OTHER
Things That Make you Go Hmmm – Grant
Williams / ZH
The Ultimate
Valuation Matrix For Global Stocks – ZH