Previously on MoreLiver’s:
Current Specials
EUROPE
EU mulls bank law to impose losses on depositors – Reuters
EU mulls bank law to impose losses on depositors – Reuters
European Union
ministers will consider a proposal this week to impose losses on interbank
deposits of lenders in dire financial trouble as they shape a draft EU law
introducing powers that would also penalize those with big savings.
BOJ Action Lifts Euro, but Why? – WSJ
The euro has risen
sharply since the Bank of Japan's announcement of a vast new program of
quantitative easing last week.
The European
Commission warned of “excessive” risks to the economic health of Slovenia and Spain, calling on both governments to take urgent
action to stem the spread of the euro crisis.
CYPRUS
Cyprus:
Oddities in leaked bailout documents – Brussels
blog / FT
Here We Go: Cyprus To
Sell €400 Million In Gold, About 75% Of Its Total Holdings, To Finance Part Of
Its Bailout – ZH
UNITED STATES
FOMC
MINUTES
Minutes of the Federal Open Market Committee – FED
Released Early, Several FOMC Members Saw QE
Tapering, Halt By Year End – ZH
Minutes Signal End to QE – Tim
Duy’s Fed Watch
The Fed seems content
with the current pace of activity.
Content enough to believe they can pull the plug on quantitative easing
this year. I remain concerned that
ending QE will slow forward momentum, thus the Fed is running the risk that
they the economy will not achieve sufficient velocity to escape the zero bound.
The actual timing is still data dependent, but I am wondering if we should change
our framework from "how good does the data need to be end QE" to
"how bad does the data need to be to continue QE?"
Oops! Fed minutes, inadvertently released
early, show a divided FOMC – Wonkblog
/ WP
Stumbling JGBs – alphaville
/ FT
OTHER
This is the VaR that slipped through the cracks – alphaville
/ FT