Davos-,
Cameron-
and LTRO
repayment specials have been updated.
Previously on MoreLiver’s:
Roundups
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
MORNING BRIEFINGS
The January
report on consumer confidence in Italy may reveal if there are any signs
of hope for Europe's third-largest economy this year,
while a mixed outlook awaits with updates on US durable goods and the Dallas
Fed Manufacturing Index.
European
markets are expected to open in the green Monday. Markets will keep an eye on
US durable goods orders, pending home sales and EU M3 money supply data due
later today.
Danske Daily – Danske
Bank (pdf)
Aamukatsaus – Nordea (pdf)
Takaisinmaksut EKP:lle tukevat riskinottoa * Luottamusluvut
povaavat hyvää vuotta Saksalle * Euro sai tukea Saksan rohkaisevasta
IFO-indeksistä
Aamukatsaus – Tapiola (pdf)
S&P500 osakeindeksi yli psykologisen 1500 pisteen rajan
Saksan vahvan IFO:n siivittämänä. EKP:n ilmoitus takaisin maksetuista
LTRO-rahoista vahvisti euroa perjantaina. Osakefutuurit nyt plussalla -
indikoiden nousuavausta pörssiin aamulla.
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat
EUROPE
International
bankers and finance ministers warned on Saturday that Europe's crisis was not over even though
the euro currency is now stabilised, it will take years to overcome economic
malaise and mass unemployment in Europe.
Carney rejects King and supports the Fed doves – Gavyn
Davies / FT
Mark Carney
‘s comments on monetary policy at Davos, though not specifically about the UK, opened a wide gap between his
thinking and that of outgoing Governor Sir Mervyn King
ECB
Exclusive: ECB rejects Irish bid on promissory
note – sources – Reuters
The ECB has
rejected Ireland's preferred solution to a dispute
over the cost of servicing money borrowed to rescue a failed bank, EU sources
familiar with the talks said on Saturday.
Too early to celebrate ECB's balance sheet
reduction – Sober
Look
The
interest rate, being paid by the European banks to the ECB is 0.75%, so one may
rationally assume that no financial institution, in their right mind, would pay
off such a loan for economic reasons. The banks cannot borrow on their own for
three years at this level and so to pay them off early makes no economic sense.
Yet they are being paid off and if it does not make sense economically then it
must make sense for some other reason or reasons.
PIIGS
Merkel Rebuffs Rajoy’s Call to Do More to Boost
Euro Stimulus – BB
Prisoner of the Bureaucracy – John
Mauldin / The Big Picture
Greece Must Stay in the Euro * Beware of
Greeks Bearing Bonds * Contagion, Thy Name Was Greece * Prisoner of the Bureaucracy
http://www.ritholtz.com/blog/2013/01/prisoner-of-the-bureaucracy/
Italian Scandal Widens As Italy's Third Largest
Bank Set To Get Third Bailout In 3 Years; Draghi, Monti Implicated – ZH
UNITED STATES
A New Housing Boom? Don’t Count on It – NYT
Robert J.
Shiller: We’re beginning to hear noises that we’ve reached a major turning
point in the housing market — and that, with interest rates so low, this is a
rare opportunity to buy. But are such observations on target?
Thresholds
for QE – Calculated Risk
ASIA
China is one pole of the 21st century
world. Skeptics have predicted China’s crash for over a decade. Even the IMF has began warming about China’s over-investments and shake
banking system. Now a new generation of leadership take command. Much depends
on their decisions, which will affect both China and the world.