7th May - Everything sitting near technical levels

Previously on MoreLiver’s:

Tuesday: Ok data removes ECB-hopes, markets tumble

Monday: Dip

W/E: Markets, Economics, Off-Topic, Finnish

W/E: Europe & US

W/E: Weekly Support

W/E: Best of the Week

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EUROPE

France's Montebourg says euro rate is matter for politicians – Reuters

Economy Minister Arnaud Montebourg stepped up France's push for a weaker euro on Wednesday, saying political leaders had the right to assess the right level for the currency in a position completely at odds with Germany's.

A Note of Caution in Greek Banks’ Seeming Recovery – NYT

Spain’s Yields Hit Record Lows, But It’s Nothing to Celebrate – WSJ

Banking union - implications for Nordics? – BIS

Speech by Mr Pentti Hakkarainen, Deputy Governor of the Bank of Finland, at the Sveriges Riksbank, Stockholm, 5 May 2014.

  EUROPEAN CENTRAL BANK

ECB Preview: May is Too Early for Action – WSJ

Draghi’s Euro Angst Rising as Rally to $1.40 Pummels – BB

  UKRAINE / RUSSIA

Ukraine Scapegoated As FI Revenue At SocGen Plunges Over 25% - ZH

Socgen remains committed to Russia (just in case you were wondering) – FT

Russia Pulls Troops From Ukraine Border, Putin Says – BB

  MACRO NUMBERS

Worrying Signals From German Industry – WSJ

German Factory Orders Unexpectedly Drop Amid Risks – BB

UNITED STATES

  FEDERAL RESERVE

Fed’s Stein: Even Clearest Communications Won’t Stop Volatility – WSJ

Even the clearest communication by Federal Reserve officials cannot be expected to eliminate market volatility surrounding the central bank’s policy plans, but the market, for now, appears to be in line with the Fed’s own thinking

Jeremy Stein: The Fed versus the Markets – FT

The Fed is locked into bad equilibrium where it is forced to change policy gradually, because that is what markets expect, which in turn means policy works better with gradual changes.

All You Need to Know About Fed Policy in Three Questions – WSJ

There’s still no reason to be afraid of the inflation monster – WaPo

  YELLEN’S TESTIMONY

Live Video & Chatter: Yellen’s Testimony to Congress Wednesday – WSJ

Five Takeaways From Fed Chairwoman Janet Yellen’s Testimony – WSJ

Yellen Warns Of Small Cap Bubble – ZH

Yellen Gives Fairly Clear Signal Reverse Repos To Be Made Permanent – WSJ

Yellen expects growth to increase, monetary accommodation warranted – Calculated Risk

Yellen cites housing, geopolitical tensions as economic risks – Reuters

Yellen Says ‘High Degree’ of Accommodation Still Needed – BB

  MACRO NUMBERS

Productivity Growth Is Still Struggling – WSJ

Cold weather sinks U.S. productivity but trend steady – Reuters

Productivity Slows At Fastest Pace In A Year As Labor Costs Soar – ZH

Productivity of U.S. Workers Decreased in the First Quarter – BB

U.S. consumer credit posts largest gain in a year – Reuters

Consumer Credit in U.S. Climbs by Most in More Than a Year – BB

OTHER

A market correction trigger? – Humble Student

Global manufacturing slowing a bit, but still robust – TradingFloor

Corporate Bond Weekly Update – TradingFloor

Macro Horizons: Glum Data, Surveys Hold Back Markets – WSJ

Grand Central: Waning Urgency for ECB to Do More – WSJ

Blackstone’s Take: Waning Urgency for ECB to Do More * Fed’s Stein: Clearest Fed Communications Cannot Eliminate Market Volatility * All You Need to Know About Fed Policy In Three Questions * China Central Bank Vows to Step Up Monitoring of Loan Default Risks

FINNISH

Kokoomuksen hyvä muistaa Thatcherin neuvot: Keskellä tietä on vaarallisinta – HS

Lehdet: Eurovaaliehdokas valitaan talousosaamisen perusteella – IS

Luottoluokitus euromaalle tärkeämpi – Roger Wessman