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Monday, May 19

19th May - ECB's easing priced in?





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EUROPE
Carney Says Housing Poses Biggest Risk as Prices SurgeBB
Bank of England Governor Mark Carney shifted closer to reining in surging U.K. home prices by branding them the No. 1 risk to the economy and listing potential policy responses.

Deutsche Bank's latest capital raising won't end its problemsCoppola Comment

  EUROPEAN PARLIAMENT ELECTIONS
Why EU elections can matterMacroScope / Reuters

European elections - do they matter?DB Research

Will voters turn out in the 2014 European parliamentary elections?Bruegel

Rise of the Eurosceptics; Unholy Alliance ScorecardMish’s
The next European parliament will be the most fragmented ever. Don't expect it to accomplish much of anything. On the other hand, look for center-left and center-right blocs to align, if only for the purpose of stopping the fragmented groups of Eurosceptics from achieving any real power. Meanwhile, absolutely nothing in the EU has been fixed or will be fixed. At some point, this simmering stew will boil over in a major way.

The eurozone's problems have not gone away, and elections won't change muchThe Guardian
Mainstream parties will still be in charge, and Europe will condemn itself to an even longer period of economic stagnation

  EUROPEAN CENTRAL BANK
Former ECB Official Sees Few Obstacles To QEWSJ

Euro area deflation monitorDanske Bank

Blogs review: Benign and malign deflationBruegel
As Europe experiences disinflation and worries about deflation risks, a number of policymakers have advanced the idea that deflation is not necessarily a bad thing. Deflation, it is sometimes argued, increases the purchasing power of those with fixed incomes. Deflation is also good when associated with positive supply shocks as several historical episodes suggest.

UNITED STATES
Bundled debt demand reaching levels of height of crisisFT
Sales of bundled US corporate debt known as collateralised loan obligations are on course to surpass levels reached at the height of the credit bubble

Quarterly Housing Starts by Intent, and compared to New Home SalesCalculated Risk

ASIA
Ken Rogoff warns China is next bubble to burstThe Telegraph
The expert who predicted the US housing crisis fears slump of rival superpower -

OTHER
Perspective on the Investment ClimateMarc to Market
http://www.marctomarket.com/2014/05/perspective-on-investment-climate.html

Macro Horizons: Global Economic Growth Shows Its InconsistenciesWSJ

Grand CentralWSJ
The Closer Fed Officials Get to Raising Rates, the Less Clear it is How They’ll Do It * Fed’s Rate-Change System Up for Revamp * Yellen: China’s Financial Woes Manageable * BOE’s Carney Spells Out Housing Risk * Bundesbank Sees Slower German Growth

FINNISH
Nokia ja Suomen talouden ongelmatRoger Wessman

Nationalekonomi for jurister ja Lex MonetaeSami Miettinen / US

Mistä muut maat puhuvat eurovaaleissa?Matias Härkönen / US

EU:n korruptio "henkeäsalpaavaa" - EU komissioSirpa Abdallah / US

Kaikki on vihapuhettaSami Rinne