FED begins its two-day meeting, statement tomorrow. US GDP on Wednesday the next important
macro, followed by more US data on Thu + van Rompuy & Barroso speeches. This week’s main event still the US employment report on Friday. Fears that good US numbers are ending the QE earlier than expected could start weighing on the EURUSD exchange rate - today's break from the recent range is one sign of that.
Quote of the Day: Suomessa lopetaan kansanäänestykset täysin, SDP:n puheenjohtajan Jutta Urpilaisen esityksestä. Suomessa ei enää ole tarpeen järjestää kansanäänestyksiä, kun Hesari ja Yle eivät enää pysty takaamaan vaalien tulosta. Kansa on siinämäärin ymmärtämätöntä että kansanäänestysten järjestäminen olisi yhteiskunnallinen riski! – Anonyymi
Previously on MoreLiver’s:
Roundups
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
Roundups &
Commentary
Frontrunning – ZH
Overnight: Sentiment Pulled Lower By Drop In Carry
Funding Currency Pairs – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Daily press summary – Open
Europe
Morning MarketBeat: Short Sellers Perched on Sidelines
– WSJ
Broker Note Briefing – WSJ
Flattish Consolidation Featured – Marc
to Market
EUROPE
LEAKED: Mario Draghi And His Triumvirate Shut
Up German Finance Minister To Keep Cyprus From Blowing Up The
Eurozone – Testosterone
Pit
Italian bank saga not just a local affair – Hugo
Dixon / Reuters
Revelations
that the bank Monte dei Paschi di Siena used complex transactions to hide
losses triggered a political firestorm, potentially helping Silvio Berlusconi
in the coming election. Mario Draghi’s competence is also being questioned, as
is the role of foreign banks.
Leading
European Union officials have warned Germany it would be a grave mistake to let Cyprus default or to impose losses on
private creditors, fearing a repeat of errors made when Greece first flew out of control.
Deutsche
Bank strategist Stuart Parkinson makes the interesting argument that it took
about 147 years
Political parties drive hate in EU, commission
says – euobserver
Far-right
political discourse is feeding hatred throughout the EU and could harm the
European project in the upcoming 2014 European Parliament elections, says the
European Commission.
ASIA
These big
four state-owned commercial banks are huge profit centres, but many who see
vulnerabilities in China’s economy think that these banks are the problem when
they actually reflect symptoms of distortions elsewhere.
OTHER
Morning Briefing (EU/US): High Noon – BNY
Mellon
The timing
of some Euro-area risks is easier to pin down than for others
What Happened in 2012? – Place
du Luxembourg
This post
takes a long overdue look at the monetary, financial, economic and political
developments that took place during 2012 and the trends at the end of the year.
Government debt in the emerging markets – a
comparative view – Deutsche
Bank
Governments
in the advanced economies are facing sizeable short-, medium- and long-term
debt sustainability challenges. By contrast, government debt in the EM has been
trending down due to a combination of solid economic growth, low interest rates
and, generally speaking, sustainable fiscal policies. More specifically, gross
general government debt is set to remain stable or will decline only minimally
over the next five years.
Full text: Moody’s downgrades Canadian banks – Credit
Writedowns
High
household debt burden, real estate price bubble -> banks exposed.
IN FINNISH
Professori ampuu kovilla: VM:n salailu seis –
presidentinvirka lakkautettava
– YLE
Valtiovarainministeriö
salaa laskelmia, joihin päätökset nojaavat, sanoo Turun yliopiston valtio-opin
professori Matti Wiberg. Vallan vastuuta ja valvontaa penäävä professori vaatii
myös presidentin viran lakkauttamista.
Tulisiko presidentin virka lakkauttaa? – Jyrki
Virolainen
Peltomäellä satojen tuhansien eurojen velat
Forma-Futuralta – Vantaan
Sanomat