One red, two yellows.
Previously on MoreLiver’s:
Roundups &
Commentary
Frontrunning – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Daily press summary – Open Europe
Lord Lawson: ‘We must leave’ the EU; Lord
Renwick: Mrs Thatcher would have made ‘huge effort to change the EU before
contemplating abandoning it’
Morning MoneyBeat: Cyclicals Take Leadership Role – WSJ
Morning Bond Update – TradingFloor
Full Liquidity Returns, Dollar Yawns – Marc
to Market
Morning Briefing
(EU/US): Invested development – BNY
Mellon
There
are justifiable fears that China still has a heavy price to pay for its chosen
route to riches
EUROPE
Exclusive: Internal docs give first look at EU
plans to regulate 'shadow banking' – Open
Europe
What the Danish
negative rate experience tells us – alphaville
/ FT
A deposit rate cut
will likely drain liquidity from the Euro area banking system and accelerate
the early repayment of LTRO funds. Negative interest rates on deposits
incentivize banks to “get rid” of their excess deposits rather than suffer an
erosion of capital.
Dijsselbloem: We’ll Test Banks’ Assets – WSJ
But is the euro zone
ready to open the Pandora’s Boxes that its banks’ balance sheets might turn out
to be? Mr. Dijsselbloem’s implicit answer was “not really” – but it must happen
regardless, and the common currency and its central bank must ready for it.
Euro area overview – Danske
Bank (pdf)
Long background
reading. Good one for that.
Recent data makes
near-term QE expansion less likely
François Hollande, a year on – The
Current Moment
ASIA
Lessons in monetary policy – Use it or Lose it – alphaville
/ FT
Economists mostly
failed to predict that the Reserve Bank of Australia would cut rates to a record low of 2.75 per cent
at its monthly meeting today.
OTHER
Global Macro Update – Short
Side of the Long
FINNISH
Aktian
pääekonomistin talouskatsaus – Aktia
(pdf)
Timo Tyrväisen tuorein Teesit ja tulkinnat
Jäätävä
suihku: Suomen talous supistui peräti 2,9 prosenttia –
TE
Talouskuria
vai velkaelvytystä? – Sampo Terho
Kutsuuko
Urpilaista aitio? – Vesa
Varhee / TalSa
Valtiovarainministeri Jutta Urpilaisen (sd.)
tilanne ei näytä kehuttavalta. Asema hallituksen kakkosena syö puolueen
kannatusta, ja Suomen talouden luisu kiihtyy. Puheenjohtajan vaihto voisi
helpottaa puolueen ahdinkoa.
"Uuden
asunnon hinnasta 45 prosenttia on kohta veroja" –
TalSa
Rakennusliike SRV:n toimitusjohtaja Jukka Hienosen
mukaan heikkenevä taloustilanne ja ostovoimaa leikkaavat veroratkaisut ovat
syöneet kuluttajien halua ostaa asuntoja. Yhä suurempi osa asunnon hinnasta on
jatkossa veroja.