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EUROPE
The
Origins of the Eurozone Monetary Policy Crisis – Marcus
Nunes
Where
the German Right and Greek Left See Eye-to-Eye – Marc
to Market
The
Eurozone: on the road to recovery with a lingering risk – Sober
Look
Investor
survey shows 38 percent chance of euro zone break-up in 12 months – Reuters
German
Wages: Creeping Optimism – Marc
to Market
Vladimir
Putin’s survival strategy is lies and violence – FT
Russian
president stirs nationalist paranoia that makes Nemtsov’s killing permissible
Danish
Reserves Hit Record As Central Bank Fights For The Peg – WSJ
GREECE
Mixed
messages on third Greek bailout talks – Reuters
Juncker
says no talks in the euro zone for a third Greek bailout – Reuters
Greece’s Next Move – The
New Yorker
Greece struggles to find cash to pay
creditors, rumours of third bailout grow – Open
Europe
Greek myths
and legends – Frances
Coppola
EUROPEAN CENTRAL BANK
Eurozone’s
march to QE enters its final stages – FT
Draghi’s
QE Moves to Starting Line as Outlook Brightens – BB
Draghi's
Rescue Plan Has Created a $103 Billion Problem – BB
S&P
Says Sinking Bond Yields Have Worsened Pension Shortfalls
This is
nuts, where have all the bonds gone? – FT
A
Complete Preview Of Q€ — And Why It Will Fail – ZH
UNITED STATES
A
Problem for a Fed Theory on Wages – WSJ
Does The
Fed Have a Currency Problem? – Tim
Duy
The rising
dollar may be causing the Fed more headaches than they like to admit. To the
extent that it is pushing inflation lower, the dollar should be delaying the
time to the first rate hike as well as lowering the subsequent path of rates.
The Fed may have to respond to the so-called "currency wars" whether
they like it or not.
US labour
market monitor: Solid but slower job growth – Danske
Bank
Gavyn
Davies: Reasons to worry about US equities – FT
5 Things
About Nasdaq’s Road Back to 5000 – WSJ
ASIA
OTHER
The Great Global Monetary Easing of
2015 May Be Done by Midyear – BB
Warren
Buffett's Annual Letter: 2014 Berkshire Hathaway Report – Market
Folly
Warren
Buffett Explains His Cozy Embrace – View
/ BB
REGULARS
Daily
Central Banks – WSJ
Hilsenrath’s
Take: Ready, Fire, Aim … Let’s Reform the Fed * Foreign Banks Brace for Fed
Stress Test * Patrick Harker Tabbed as New Philadelphia Fed President * India
Releases New Monetary Policy Framework * Abe Adviser Warns BOJ Against Overheating
Economy
Daily
Macro – WSJ
Two big,
contradictory themes in the eurozone economy were reinforced Tuesday: the
continued threat of deflation, which was highlighted by a striking decline in
producer prices, and the recovery of the German economy, represented by a
surprising jump in January retail sales. While the German rebound is clearly
good news on balance, the divergence is potentially troubling politically.
Danske
Daily – Danske
Bank
Eye-Opener – Nordea
Deflation
risk in Euro-area narrows, inflation less negative * ECB QE continues to
pressure yields downwards * Greek bailout speculation * AUD strengthens
Daily FX
Comment – Marc
to Market
News Stream
Improves, ECB Continues to Weigh on Euro
Daily
Shot – TF
As Greece's
tragedy (or is it farce?) rolls onwards, the country's banks continue to bleed
money and bank shares slide. But while we're seeing encouraging signs of
incipient recovery elsewhere in the Eurozone, economic indicators from Canada
and China make for unappetising reading.
US Open – ZH
Futures
Decline; Treasurys Weak On Actavis Mega-Deal, Dollar At 12 Year High
FX
Update – TF
The RBA
failed to cut overnight and AUDUSD squeezed back higher. Meanwhile, USDJPY
couldn’t maintain the 120.00 level and EURUSD refuses to push lower after last
week’s swoon. The USD needs to get something going or we risk another squeeze
on bulls losing confidence.
From the
Floor – TF
Daily
Newsletter – TF
Will it be
a day of surprises today? After the Reserve Bank of Australia voted to keep
rates unchanged at 2.25%, against a market that favored another cut, German
retail sales came in far ahead of analysts' expectations.
Martin
Sandbu’s Free Lunch
– FT
Audacity in
India: There is more to the budget that meets the
eye
FINNISH
Aaamukatsaus – Nordea
EKP:n kokous: Yksityiskohtia vain | Saksassa julkistetaan
tammikuun vähittäismyynti | Espanjan valtionvarainministeri kertoi Kreikan
kolmannen tukipaketin neuvotteluista
"Julkinen talous on yksinkertaisesti liian suuri
suhteessa yksityiseen sektoriin" – Verkkouutiset
Euroalueen elpyy, mutta Venäjän taantuma heikentää
kasvunäkymiä Suomessa, toteaa Aktia Pankki talouskatsauksessaan.
Todisteet EKP:n toimien tehosta kasaantuvat – Roger
Wessman
Hallituksen rakennepaketin karu loppuraportti – Verkkouutiset
Hallituksen rakennepoliittisen ohjelman toteutus jäi kauas
tavoitteistaan. Ongelmana olivat sitoutumisen puute ja voimavarojen käyttö turhiin
uudistuksiin.