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EUROPE
The New EU Bank
Reform Raises Risks To EU, Euro, Everyone – 14 Reasons – FX
Empire
Interview with Peter
Praet
– ECB
Member of the Executive Board of the ECB, and La Stampa, 22 December
2013: “those dreaming of the world before the euro, tend to forget what it
really was, before.”
Italy's rage against
Europe is not justified – The
Guardian
Italians are unfairly blaming the EU for their ills – their country's
problems started well before the introduction of the euro
While Citi's earnings-yield gap model indicates stocks are over-valued
currently, their proprietary panic/euphoria model has now been in "euphoria"
mode for six straight weeks.
Are US Fiscal Issues
Really Over? – ZH
First, a rapid pace of deficit reduction carries economic costs. Second,
a clear resolution of the nation’s long-term fiscal challenges is still
lacking. Finally, the political process for implementing sustainable fiscal
adjustments has become more uncertain.
FEDERAL RESERVE
What Would It Take
for Fed to Pause Its Cuts to Bond Purchases? – WSJ
The bad-news hurdle for a halt to ‘tapering’ has probably been set quite
high
Bernanke Stole
Yellen's Thunder, Condemns Fed to Weak Leadership – Marc
to Market
I remain concerned about the longer-term cost of the Fed's action. In particular, it undercuts the ability of
Janet Yellen to provide strong Fed leadership at a particularly important
moment for the country and for the Federal Reserve itself.
Fed’s Fisher Would
Prefer $20 Billion Taper Increments – WSJ
Dallas Fed President
Fisher, who next year will gain a voting slot on the Federal Open Market
Committee, said he would have voted with the majority on last week's tapering
decision.
November Durable Goods Jump, Driven By Abnormal Seasonal Adjustments – ZH
November Durable Goods Report Bounce Back – dshort
ASIA
China Money Rates
Surge as Banks Struggle to Meet Demand – BB
China’s benchmark money-market rate climbed for a seventh day and
interest-rate swaps increased as banks hoarded cash to meet year-end regulatory
requirements.
Spot When The Fed
Tapered – ZH
Since both the US and China appears to have launched their tapering
together, the question is what will break to force China to pull back, since
for the Fed it is all roses.
Hello 2014: China’s slower growth is cause for optimism – beyondbrics
/ FT
This year marked a significant shift in the mindset of China’s Communist Party. Oft-repeated promises to carve out a more sustainable development path finally translated into action
This year marked a significant shift in the mindset of China’s Communist Party. Oft-repeated promises to carve out a more sustainable development path finally translated into action
Chinese Stocks Are On
The Edge – ZH
China's Liquidity
Crisis Worsens As Fed Vs PBOC "Taper" Wars Escalate – ZH
OTHER
The world economy
regains its old footing in 2014 – BNP
Paribas
The markets of
holidays past: a 10-year study of USD charts – TradingFloor
A quick visual
inspection of the holiday trading periods of the past 10 years for EURUSD and
USDJPY and how the New Year kicked off in each instance. Some of the findings
are surprising.
USDJPY has some fire
in its belly — how high can it go in 2014? – TradingFloor
USDJPY has been in a very strong uptrend since Q4 2012 and, after a
brief pause this summer, is now on a strong bullish move again. Several
indicators point to higher levels in 2014.
BofAML: Euro Bears
Should Be Salivating – ZH
Central Bank Chiefs
to Weigh Debt Rule Changes Amid Bank Outcry – BB
Ten Economic Questions for 2014 – Calculated
Risk
The Goals of Traders
and Investors Are Light-Years Apart – NYT
Secret Handshakes
Greet Frat Brothers on Wall Street – BB
Valuuttakursseilla
on vaikutuksensa talouteen ja vientimenestykseen. Suomessa ja Euroopassa laajemminkin on
aihetta keskustella Euroopan Keskuspankin roolista talouskasvun tukijana.
Kasvu vaatii ihmettä – Risto
Pennanen / TalSa
Itämaan tietäjät ennustavat ensi vuodelle
talouskasvua, mutta sen toteutuminen vaatisi neitseellisen syntymisen kaltaista
ihmettä.
Puheenaihe: Entä jos mikään ei kiinnosta
nuorta? – AL
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