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:                  

7-Jan US Close: 1 trillion coin and Basel-easing.

7-Jan US Open

7-Jan EU Open: More to Banks

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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 Index – TradingFloor

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 Daily – Danske 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.

Aamukatsaus – Nordea (pdf)

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

Aamukatsaus – Tapiola (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.

Markkinakalenteri – Nordnet

Markkinakalenteri – Taloussanomat

EUROPE

Monti's candidacy set to make Italy's election season a rollercoaster ride – Open Europe

UNITED STATES

The Three Key Charts Before The Launch Of Earnings Season – ZH

Economic Collapse? JP Morgan’s Latest View On The U.S. Economy – Forbes

The Debt Limit: Not A Credible Way to Control Spending – CFR

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 2013 – beyondbrics / 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 Plan – WSJ

OTHER

Exclusive interview with Felix Zulauf – FusionMarketSite

  BASEL DELAY

Why New Basel Rules Won't Make Safer Banks – CNBC

The fear of overregulation frightening the regulators themselves – Nordea

Basel’s Diluted Liquidity Rule Compounds Capital Failure – BB

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