Previously on MoreLiver’s:
Current specials:
Special: IMF / G20 / WTO Meeting (updated)
Special: Reinhart & Rogoff
Debacle (updated)
Roundups
News roundup – Between
The Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
MORNING BRIEFINGS
Today’s Ifo sentiment
survey for Germany will be closely watched in the wake of yesterday’s weak PMI numbers. The
market will also be focused on new data for UK CBI Distributive Trades Index
and US durable goods orders.
Market Preview: German Ifo indices and US
durable goods data eyed – TradingFloor
European markets are
likely to open higher Wednesday ahead of German Ifo sentiment indices due later
today which will be watched for further cues. Moreover, US durable goods orders
slated later in the session will be in focus.
Danske Daily – Danske
Bank (pdf)
US equity markets
closed higher and Asian bourses are trading with gains. Economic data continue
to point to a period of slower global growth. Big rally in European peripheral bonds
yesterday - EUR/CHF trades near 1.23. Bank of England announces extension to
the Funding for Lending scheme.
Focus today is on
German IFO and US durable goods orders.
Aamukatsaus – Nordea
Heikot
luottamusluvut lisäävät odotuksia koronlaskusta euroalueella * Kiristystoimet
vastatuulessa * Suomen työmarkkinat heikkenevät
Aamukatsaus – Tapiola (pdf)
EUROPE
Inside Merkel's Bet on the Euro's Future – WSJ
This account of Ms.
Merkel's handling of Europe's crisis, based on interviews with 17 European
policy makers, shows Cyprus's bailout flowing directly from principles
that will continue to guide German leadership in Europe. In September, Ms. Merkel is expected to win a
third term as chancellor. That means her agenda will dominate Europe's crisis response for years. The euro's
survival hinges to a considerable extent on whether her strategy works.
Napolitano is set to
announce on Wednesday his choice of prime minister to form a new government and
pull the euro zone's third largest economy out of a two-month political rut.
UNITED STATES
Fed’s Balance Sheet Could Take Nearly 10 Years
to Normalize – WSJ
It may take the Fed
nearly a decade to bring its massive balance sheet back toward a more
historically normal size, Goldman Sachs economists argue in new research.
How does inflation matter? – Free
exchange / The Economist
If the Fed believes
that its credibility is the reason inflation has been stable during the
recovery, then it will almost certainly continue to do too little and
unemployment will eventually settle a natural rate substantially higher than
the pre-crisis level. If, on the other hand, it determines that wage rigidities
are mostly responsible for stable inflation, then the Fed must actively seek a
higher inflation rate in order to increase employment growth.
KrugTron the Invincible – Noahpinion
Regularly Krugman
bashes inflation hypers.
FINNISH
Se
eilinen toimimaton yhtälö – Henri
Myllyniemi / US Puheenvuoro
Nyt
empii komissio: menikö talouden löylykisa överiksi? – Jan
Hurri / TalSa
EU-komission ylin johto on ensi kerran
myöntänyt, että talouden vyönkiristykset ovat ehkä menneet liian pitkälle.
Talouden tosiasioita onkin vaikea kiistää. Kesken velkakriisiä toteutetut
vyönkiristykset ovat olleet tehottomia tai jopa vahingollisia. Nyt on
löylymestarin vuoro empiä: talouden löylykisat taisivat sittenkin mennä
överiksi.