The deal on Cyprus is done: see my massive linkfest for the latest updates. Otherwise, it will be a dull week (see the Weekly Support for previews): Fed speakers, US durable good, EU unemployment and M3 money supply. Heavy stuff not until next week (US payrolls and ECB meeting).
EDIT: Added this chart. 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
MORNING BRIEFINGS
Consumer confidence
for Italy is likely to retreat again in today's release.
Meanwhile, upbeat economic news for the US is expected via the Chicago Fed National
Activity Index and the Dallas Fed Index.
Market Preview: Cyprus
clinches aid deal; Bernanke speech eyed – TradingFloor
European markets are likely to open firmer Monday after Cyprus reached a bailout deal with its international lenders. Meanwhile, Fitch has placed the UK's AAA credit rating on credit watch negative. Today, Bernanke's speech is likely to be eyed.
European markets are likely to open firmer Monday after Cyprus reached a bailout deal with its international lenders. Meanwhile, Fitch has placed the UK's AAA credit rating on credit watch negative. Today, Bernanke's speech is likely to be eyed.
Danske Daily –
Danske Bank (pdf)
Cyprus bailout agreement of EUR 10bn has been reached. Deposits below EU
guarantee of EUR
100,000 are spared but
the deal creates dangerous precedent for future bail-out negotiations
Relief rally in
financial markets on the back of the bailout deal. No important data releases scheduled
today, Fed’s Ben Bernanke and BoE’s Mervyn King speak in London
Aamukatsaus – Nordea (pdf)
Toinen kerta
toden sanoo Kyproksella? * Saksan IFO-indeksi kertoo yhä kasvun piristymisestä
* Euroopan itälaidalla keskuspankit päättävät rahapolitiikasta tällä viikolla
Aamukatsaus – Tapiola (pdf)
Kyproksen pelastuspaketista sopu viime yönä,
yleinen talletusvero muuttui pankkien uudelleenjärjestelyksi ja
pankkikohtaisiksi talletustappioiksi. Euroalueen taloustilanteeseen takapakkia,
kun Saksan perjantainen IFO -indeksi myös pettymys. Metso (Tapiola Pankin TOP-5
osake) hallitus on päättänyt yhtiön jakautumisen selvittämisestä. Arvioimme
pitkään spekuloidun jakautumisen vahvistavan kurssia. Osinkoja irti
osakkeestaan tänään: Talentum EUR 0.03, Pohjola EUR 0.46. Osakefutuurit reilusti plussalla, ennakoiden
nousuavausta pörssiin.
EUROPE
Eurozone: looking for growth – voxeu.org
What happens after the
crisis ends? This column estimates the long-term effects of the current
cyclical downturn on Eurozone economies. In the absence of any real impetus for
bold reform, estimates show that the damage will indeed be long lasting, permanently
impairing growth for an ageing population that requires higher growth capacity
more than ever before.
The small former
Yugoslav—wedged between Italy, Austria, Hungary and Croatia and best known for
its exceptional skiers and Slavoj Žižek—had a pretty bad week, with long-term
bond yields spiking to 5.4 percent Friday morning amid fears that the country
would need a bailout. That’s not crisis-level — Cyprus’ yields are around 7
percent, for comparison — but it’s certainly in the “Danger Zone.”
UNITED STATES
Housing Starts and the Unemployment Rate – Calculated
Risk
OTHER
An uncomfortable bull – Humble
Student
In spite of being a
horrible standalone investment, treasuries remain an effective portfolio hedge – Sober
Look