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Tuesday, January 8

8th Jan - EU Open

Not much happening - EURUSD rally in my opinion due to a technical bounce, official excuse that Japan considers buying ESM bonds (which would obviously be EUR positive), but then it became apparent that Japan would use existing euro holdings to make the purchases. Move did not reverse after the later headline, so so much for the official excuse. Good that someone is buying ESM paper - I wouldn't.

Previously on MoreLiver’s:                  

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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
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices
Economic Calendar – Forexpros

MORNING BRIEFINGS
3 Numbers to Watch: EU jobless, DE Ind. Orders, US NFIB IndexTradingFloor
Today's November release for Eurozone unemployment will likely offer another grim reading on joblessness, while new factory orders for Germany and small business optimism in the US will colour the rest of the day's economic news.



Market Preview: EU unemployment and consumer confidence data eyed TradingFloor
European markets are expected to open mixed Tuesday. Markets are keeping an eye on the Eurozone unemployment rate and consumer confidence data due later today. Additionally, the Merkel-Samaras meeting in Berlin is expected to garner market attention.

Danske DailyDanske Bank (pdf)
It has been a calm session with no market moving news or releases. Ireland takes another step towards regaining full market access. Focus today on German factory orders, euro area retail sales and the US NFIB small business survey.

AamukatsausNordea (pdf)
Euroalueen sijoittajien luottamus koheni kohisten * Odotettavissa parempaa: Euroalueen talouselämän luottamus ja vähittäiskauppa * EURUSD aloitti viikon nousussa



AamukatsausTapiola (pdf)
Osakemarkkinoilla hengähdystauko vuoden vaihteen jälkeisen nousun jälkeen. Japanin valtionvarainministeri ilmoitti, että Japani aikoo ostaa EVM:n liikkeellelaskemia velkakirjoja. Tänään Euroopasta makrolukuja (Euroopan talousluottamus sekä Saksan tehdastilaukset), mutta markkinoiden fokus on torstain EKP:n kommenteissa. Osakefutuurit nyt aamulla miinuksella, indikoiden laskuavausta.

MarkkinakalenteriNordnet
MarkkinakalenteriTaloussanomat


EUROPE
Monti's candidacy set to make Italy's election season a rollercoaster rideOpen Europe

UNITED STATES
The Three Key Charts Before The Launch Of Earnings SeasonZH

Economic Collapse? JP Morgan’s Latest View On The U.S. EconomyForbes

The Debt Limit: Not A Credible Way to Control SpendingCFR
The debt limit is expected to become binding (i.e., extraordinary measures will become exhausted) between February 15 and March 1. The limit needs to be raised by $1.1 trillion to get through 2013 and by $2.1 trillion by the end of 2014.

ASIA
Hello 2013: Michael Pettis, Chinese banking in 2013beyondbrics / FT
Beijing’s new leaders have clearly signaled their intention to rebalance China’s economy away from investment and towards more consumption, but this won’t be easy.

Looking for China’s Missing Inequality PlanWSJ

OTHER
Exclusive interview with Felix ZulaufFusionMarketSite

  BASEL DELAY
Why New Basel Rules Won't Make Safer BanksCNBC

The fear of overregulation frightening the regulators themselvesNordea

Basel’s Diluted Liquidity Rule Compounds Capital FailureBB

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