2nd Jul - US Close: Portugal & Greece

Blue horseshoe HATES Portugal and Greece.

 

Previously on MoreLiver’s:

Tuesday US Open

Tuesday EU Open - Quiet day ahead of CB's

Monday US Close

Weekender: Weekly Support

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Roundups & Commentary

News – Between The Hedges

Markets – Between The Hedges

Recap – Global Macro Trading

The Closer – alphaville / FT

US: Bonds & Stocks Ignore FX, Commodity, And Credit Volatility – ZH

EUROPE

France and the Eurozone recovery – Sober Look

The biggest threat to near-term recovery in the Eurozone is not the periphery. It's France - which represents over a fifth of the area's GDP.

Broken record: Euro zone unemployment stuck at all-time high – MacroScope / Reuters

Spain’s unemployment crisis is now officially more dire than Greece’s – and that’s saying something.

Portuguese Spreads Soar As Cabinet Unravels – ZH

JPM warns: there are reasons to be concerned.

Irish tapes show need for EU bank union – euobserver

Berlin Blockade: Brussels Concerned About Merkel's Anti-Europe Flip – Spiegel

Germany's EU partners are accusing Chancellor Angela Merkel of campaigning for re-election this year at Europe's expense. Even her government's center-right allies within the bloc are needled by Berlin's sudden resistance to Brussels.

ECB’s Asmussen Is Where Money and German Politics Meet – BB

In the afternoon, Joerg Asmussen is by his boss Mario Draghi’s side. In the evening, he’s among old party comrades.

UNITED STATES

The Rise Of Real Yields – The Capital Spectator

These seven charts show where the U.S. economy is headed next – Wonkblog / WP

Fed to vote on Basel capital rules, also eyes stricter reforms – Reuters

The Fed on Tuesday is set to vote on whether to adopt the international Basel III capital rules and will also consider a series of other reforms that go beyond that international agreement.

Fed pledges to get tough on Wall Street as adopts Basel rules – Reuters

The U.S. Federal Reserve pledged to draft tough rules for Wall Street while shielding smaller banks from some of the harshest impact of the global Basel III capital rules it adopted on Tuesday.

Fed’s Dudley Sees Faster Growth in 2014 as Fiscal Drag Wanes – BB

ASIA

Monitor: Chinese credit crunch – Danske Bank (pdf)

Chinese credit: Look both ways – Free exchange / The Economist

Most stories on China over the past few months have included some variation on the chart showing the boom in Chinese credit, broadly and narrowly defined.

China Prohibits Local Media To Cover Ongoing Cash Crunch – ZH

Michael Pettis on China – CFA Institute

Too much credit not just a problem for shadow banking system

OTHER

361 Capital Weekly Research Briefing – The Reformed Broker

FINNISH

Milloin eurossa pysymisen taloudellinen hinta nousee suuremmaksi kuin euroeron poliittinen hinta? – tyhmyri

Ken on maassa höttöisin – Kalle Pahajoki / US Puheenvuoro

http://kallepahajoki.puheenvuoro.uusisuomi.fi/143838-ken-on-maassa-hottoisin

Euroalueen pankkijyvät ja –akanat – Henri Myllyniemi / US Puheenvuoro

Tarvitaan uusia taikatemppuja – Henri Myllyniemi / Piksu