1st Sep - US Labour day, big events this week

Previously on MoreLiver’s:

W/E: Off-Topic & Finnish

W/E: Markets & Economics

W/E: The World

W/E: Weekly Support

W/E: Best of the Week

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EUROPE

Greek debt barely worth the paper it'll be written on – TradingFloor

A primary surplus is of little comfort when the debt to GDP ratio is over 175 percent. Greece is still reliant on bailout money and yet plans more debt issuance - the Eurozone fantasy continues.

EU’s three big problems all linked – Hugo Dixon / Reuters

The stagnating euro zone economy, Ukraine/Russia crisis, risk that Britain will quit the EU.

SNB’s Jordan Says Franc Cap Needed as Risks Grow – BB

Divisions Grow as a Downturn Rocks Europe – NYT

German 0.2% GDP drop confirmed for Q2 – TradingFloor

German economy shrinks, ECB "ready to adjust" policies – TradingFloor

  EU NOMINATIONS

Solidarity veteran is new EU chief – Reuters

Poland cheers Tusk’s departure to Europe’s top table – FT

Tusk and Mogherini: Europe's new 'dream team'? – Open Europe

  UKRAINE / RUSSIA

EU to expand Russia sanctions in a week – FT

EU Vows More Russia Sanctions If Ukraine Conflict Worsens – BB

EU wields Russia sanctions threat but timing vague – Reuters

Putin: Russia can't stand aside if people being shot at in Ukraine – Reuters

U.K. Wants EU to Block Russia From SWIFT Banking Network – BB

Arm Ukraine or Surrender – NYT

Putin Suggests Statehood for Southeast Ukraine – BB

Europe Will Ban Purchase Of Russian Bonds; Gas Exports Untouched – ZH

  EUROPEAN CENTRAL BANK

Coeure Says ECB Is Ready to Adjust Policy Direction – BB

Europe According to Draghi – Project Syndicate

A few months ago, the consensus was that the time for redesigning the euro had passed, and that the eurozone would have to live with the architecture inherited from its crisis-driven reforms. Not anymore.

Abenomics, European Style – Project Syndicate

Nouriel Roubini: Two years ago, Shino Abe’s election as Japan’s prime minister led to the advent of “Abenomics,” a three-part plan to rescue the economy from a treadmill of stagnation and deflation. It now appears that the European Central Bank has a similar plan in store for the eurozone.

German Unease at Calls for ECB Aid Shows Growth Dilemma – BB

UNITED STATES

Fed cred on the line after Friday's job report – TradingFloor

FOMC index show US labour market improvement is overstated * Analysts will scrutinise the detail on jobs * Fed inflation forecasts will attract market interest

ASIA

Japan from Krugman's liquidity trap to Kuroda's "indefinite QE" trap – Sober Look

China Says Hong Kong Democracy Protests Risk Election – BB

China manufacturing PMI confirms loss of momentum – Danske Bank

Economists React: China’s Economy to Face Headwinds This Fall – WSJ

China’s Productivity Problem Drags on Growth – WSJ

OTHER

HSBC South Korea Manufacturing PMI

Markit / JMMA Japan Manufacturing PMI

HSBC China Manufacturing PMI

HSBC Russia Manufacturing PMI

NEVI Netherlands Manufacturing PMI

Markit Spain Manufacturing PMI

Markit / ADACI Italy Manufacturing PMI

Markit France Manufacturing PMI

Markit / BME Germany Manufacturing PMI

Markit Greece Manufacturing PMI

Markit Eurozone Manufacturing PMI

PMI manufacturing wrap – TradingFloor

At-a-glance view of the globe's major powers – TradingFloor

Strategy: On the radar – Nordea

ECB: Draghi back in the hot seat sooner than expected * FX: EUR/SEK implications of ECB quantitative easing * Cross-market: If Germany turns Japanese, notable flattening potential on the SEK curve * SEK linkers: Index-extension adds to flattening bias * USD rates: High five(s) on the USD fly * SEK rates: Swedish bond future rolls * Riksbank: Pity the Riksbank - unintended but logical consequences

FX Update: This week´s data bonanza – TradingFloor

We’ve got no less than six G10 central bank meetings this week, not to mention the latest round of important first-of-the-month data from the US. Hopefully this means that rumours of the death of FX volatility have been greatly exaggerated.

Week Ahead: Forget market consensus – expect ECB rate cut – TradingFloor

The markets do not expect the European Central Bank to lower the benchmark rate from 15 basis points this week. But we are sticking our neck out and see the possibility of a reduction of 15 basis points to zero. Elsewhere, Ukraine/Russia volatility will continue, though the market has repeatedly demonstrated a surprising ability to shrug off these events.

The Macro Week Ahead: Winter is coming – eastern Ukraine is set to go – TradingFloor

Busy week ahead, with central banks and PMI readings the main themes * ECB decision set to dominate the week – will Draghi disappoint? * US will focus on August nonfarm payrolls, whilst Asia will watch China PMI, Australia’s 2Q GDP and expected non-event rate decisions from the RBA and BoJ

First week of September fraught with risks – TradingFloor

RBA statement likely to be uneventful * Draghi may dither despite priming the pump * NFP bomb detonates on Friday

Busy Week Ahead, but ECB Meeting Stands Out – Marc to Market

The week ahead is packed with events and data.  The monthly cycle of purchasing managers surveys  and the US jobs report are featured. There are also central bank meetings in six high-income countries and three emerging markets.   Given the recent geopolitical development, in Ukraine, as well ISIS, will give the NATO meeting extra significance. 

Superstitious investors – The Economist

Irrational investment habits lead to lower returns

FINNISH

Kuinka paljon on liian paljon – suurtyöttömyys myös Suomeen – Tyhmyri

Yhdysvallat pitää Suomea outolintuna – Viroa ymmärretään paremmin – HS

EU:n uudet pakotteet: Vedetäänkö Suomea höplästä? – IS

EU:n huippukokouksessa sovittiin alustavasti uusista Venäjä-pakotteista. Asiantuntijat kuitenkin epäilevät, että niitä sorvattaessa suuret EU-maat turvaavat etunsa, mutta Suomi jää kärsijäksi.

Nobel-palkittu Joseph Stiglitz: Euroopan tulevaisuus on musta – HS

Taloustieteilijä Joseph Stiglitzin mielestä eurokriisin siemen kylvettiin, kun jäsenmaat hylkäsivät omat valuuttansa ja ottivat käyttöön yhteisvaluutan.

Seuraavan hallituksen on pakko katkaista velkakierre – TE

Pääkirjoitus: Velanotto vaatii näkymän kasvusta – HS

"Näpertelyä ja poliittista peliä" - Sailas lyttää hallituksen budjettiesityksen – IS

EU sai uuden presidentin ja ulkoministerin – TE

Soini: "Pää on pensaassa hartioita myöten" – Verkkouutiset

Perussuomalaisten puheenjohtajan mukaan Suomi "jäätyy kolmesta kulmasta." Hän arvostelee kovin sanoin hallituksen budjettiriihen tuloksia.

Suomen kurjan kilpailukyvyn tekijät kartoitettu kansainvälisessä tutkimuksessa – Piksu

Ekonomistit MTV:llä: "Eurooppa ja Venäjä ovat kauppasodan kynnyksellä" – Verkkouutiset

Niin tasapäistävä ilmapiiri – Image

Ruben Stiller: Kokoomuksen jupeille ebolakin on mahdollisuus. pitää vain ottaa oikea asenne

Onko Katainen pätevä superkomissaariksi? - "Näytöt karmaisevan heikot" – IS

Jari Tervo: Euroopassa soditaan – YLE

Näyttää siltä, että Venäjän teot eivät vastaa Venäjän puheita. Ihanko totta?

Pauli Vahtera: Ministeriverojahti – IL

Kriisimaat hyötyvät eniten EKP:n toimista – Roger Wessman

Mitä EKP voi vielä tehdä? – Roger Wessman

Eurokriitikot marssivat näyttävästi osavaltiopäiville Saksassa – Verkkouutiset

Huolimatta jättimenestyksestä Saksin osavaltiovaaleissa, eurokriittinen AfD-puolue ei mahdu hallitsevan keskusta-oikeistolaisen CDU:n kanssa samaan hallitukseen.