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Wednesday, July 31

31st Jul - US Open: GDP, Fed ahead




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Roundups & Commentary
Frontrunning – ZH
Overnight: Acronymapalooza: GDP, FOMC, ADP, PMI On Deck – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
EU daily news – Europa
Daily press summary – Open Europe
Morning MoneyBeat: Much Econ About Nothing? – WSJ
Morning Bond Update: Buckle up – TradingFloor
Focus Shifts to the USMarc to Market


EUROPE
Draghi’s Choice – Hawkish Dove or Dovish Hawk?MoneyBeat / WSJ

Europe’s good news, bad newsMacroBusiness

  PIIGS
Troika Statement on the First Review Mission to CyprusECB

Is Cyprus eyeing up an exit from its capital controls?Open Europe

Q&A: All you need to know about Berlusconi's tax fraud trial and its potential implications for the Italian governmentOpen Europe

  MACRO NUMBERS
German Unemployment Declined in July Amid Recovery – BB
Euro area unemployment rate at 12.1% – Eurostat (pdf)
Euro-Region Unemployment Unchanged as Economy Improves – BB
Euro zone unemployment falls for first time in two years – Reuters 
Euro area annual inflation stable at 1.6% – Eurostat (pdf)
Euro-Area July Inflation Holds at 1.6% as Recession Lingers – BB

UNITED STATES
Ebbing Market Risk Gives Fed the Option to Delay TaperingBB

Monetarists see recovery danger from 'Summers Fed'The Telegraph
Ambrose Evans-Pritchard: Monetarist economists across the world have reacted with alarm to the emergence of Larry Summers as front runner to take over the US Federal Reserve, fearing that he will push for withdrawal of monetary stimulus and endanger America’s fragile recovery.

Yellen/Summers and the Twilight of the VSPsKrugman / NYT

OTHER
Time to rebuild dollar longs?alphaville / FT

The world must learn to deal with the reality of failureJohn Kay
Having invented the concept of GSifi to describe too-big-to-fail banks, the world’s financial regulators are on the hunt for other businesses which can be treated in a similar way.
  
FINNISH
Huippuekonomisti vaatii: EKP:n laskettava ohjauskorko nollaanHS
Euroalueen velkakriisi kestää vielä ainakin kolme vuotta, ennustaa finanssiyhtiö Citigroupin pääekonomisti Willem Buiter.

Espanjan ehdotus voisi ratkaista eurokriisinPaavo Teittinen / TalSa
Espanjan ulkoministeriö vaatii Euroopan keskuspankin rakenteiden muuttamista. Suomen pankin ekonomistin valaisemien tosiseikkojen nojalla on selvää, että ehdotuksen toteuttaminen voisi ratkaista eurokriisin.

Euroalue flättiintyyHenri Myllyniemi / Piksu

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