House Speaker John
Boehner warned that the U.S. government must balance its budget. “We have
spent more than what we have brought into this government for 55 of the last 60
years. There’s no business in America that could survive like this. No household in America that could do this. And this government can’t
do this.”
Think about that for a
second. Do you find the logic appealing?
Previously on MoreLiver’s:
Roundups
News roundup – Between
The Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
Asia Morning MoneyBeat – WSJ
Europe Morning MoneyBeat – WSJ
MORNING BRIEFINGS
The ECB Monthly
Bulletin is updated today, along with the latest estimate on UK industrial production. Later, the crowd will
be closely watching today’s US jobless claims number after last week’s
bullish update.
Market Preview: ECB monthly report and BoE
meeting in focus – TradingFloor
European markets are
likely to open mostly firmer on Thursday ahead of the ECB's monthly report. The
Bank of England's interest rate decision later in the day is also likely to
hold market interest. Meanwhile, Chinese CPI accelerated in April.
Danske Daily –
Danske Bank (pdf)
Aamukatsaus –
Nordea
Aamukatsaus – Tapiola (pdf)
EUROPE
A few weeks ago
Reuters reported that the French finance Minister, Pierre Moscovici, fell
asleep during the final late night negotiations over the Cypriot bank bailout
on March 24. It apparently fell to the International Monetary Fund (IMF)
managing director, Christine Lagarde—a former French finance minister
herself—to wake him up.
UNITED STATES
Core PCE measure gives the Fed green light to
proceed with its program – Sober
Look
The relative
importance of “core” components of CPI inflation has dropped by about 2
percentage points since 2010, while remaining steady in PCE inflation. This has
the effect of increasing the relative importance of housing prices in core CPI.