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Wednesday, May 20

20th May - FOMC minutes: Fed careful



Previously on MoreLiver’s:


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EUROPE
Eurobarometer surveys provide an important insight into the European Commission’s role as an agenda setterEuropp / LSE

A radical new era for EU regulation?Open Europe

Whither the Euro?WSJ

Portuguese Politicians Turn a Deaf Ear to IMFWSJ

  UNITED KINGDOM
U.K. Business Lobby Chief: ‘EU Key to National Prosperity’ – WSJ
BOE Sees Faster UK Growth in Second Quarter – WSJ
Schäuble hints at grand EU bargain as a means of addressing UK’s concerns – Open Europe

  GREECE
Merkel Said to Plan Address for Greece If Deal Reached – BB
Euro slides as Greek official says IMF repayment in doubt – Reuters
More Greek talks, Riga summit unlikely to be decisive – Reuters
The ECB Is in Tight Spot Over Greek Bank Aid – BB

  EUROPEAN CENTRAL BANK
Euro’s Plunge Reignites Calls for Parity on ECB Bond-Buying Plan – BB
The ECB Just Launched Bizarro QE Taper – ZH


UNITED STATES
  FOMC MINUTES
5 Things to Watch in the Fed’s April Meeting Minutes – WSJ
FOMC January meeting minutes – FED
Fed Doesn't Rule Out June Liftoff , Fears Post-Hike Volatility, Dollar Drag – ZH
Fed officials felt data unlikely to support June rate hike – Reuters
Fed Minutes: June Rate Hike Doubtful – WSJ
Fed minutes suggest doubts over US rebound grow – FT
FOMC Minutes: June Rate Hike Unlikely – Bill McBride
Hilsenrath: Hawkish Fed Sees Q1 Weakness As A Blip, June Liftoff Possible – ZH
Stocks Swing Higher As Fed Minutes Suggest No Rate Rise in June – WSJ


REGULARS
Daily Central BanksWSJ
Schlesinger’s Take: Solid Growth Gives Bank of Japan Breathing Room, Though Doubts Linger * U.S. Regulators Point to Risks from Rapid-fire Trading and Clearing * Five Things to Watch in the Fed Minutes * Benoît Coeuré Gives Diners Sneak Peek at ECB Move * India’s Rajan Wants More Central Bank Coordination

Daily MacroWSJ
The surprise announcement from European Central Bank officials Tuesday  that the ECB would frontload some of the rest of this year’s bond-buying program to avoid market liquidity shortfalls in the summer has changed the ball game in international markets.

Danske DailyDanske Bank

Global DailyABN AMRO

Euro rates updateNordea

Eye-OpenerNordea
Fed to stay its course, ECB will frontload its purchases, positive US housing numbers - EURUSD drops

Morning MarketsTF
Wednesday is a day of minutes as central banks on both sides of the Atlantic tells us what they talked about at their most recent policy-setting meetings. First up is the Bank of England at 08:30 GMT while at 18:00 FOMC takes centre stage.

Daily FX CommentMarc Chandler
Divergent Impulses Spur Dollar's Come Back

Daily Shot TF
A year ago the Bank of England was telegraphing impending rate hikes, but today we have a negative CPI print and the core CPI continues to fall. UK's PPI figures were also below expectations and deeply in the red. The pound fell sharply in repose.

Daily Press SummaryOpen Europe

Brussels PlaybookPolitico

US OpenZH
Futures Flat With Greece In Spotlight; UBS Reveals Rigging Settlement; Inventory Surge Grows Japan GDP

From the FloorTF
The European Central bank has responded to the soaring euro and European yields in fire-breathing fashion, upping its bond purchases and placing a determined ceiling on the common currency.


FINNISH
AamukatsausNordea
Suomi: Veronalennuksella uuteen alkuun | Japanin talouskasvu kiihtyi kulutuksen ja varastojen vedolla | Fedin ja BoE:n kokouspöytäkirjat julkaistaan tänään

Kangasharju & Schauman: Veronalennuksella uuteen alkuunNordea
Suomi tarvitsee nopeammin vaikuttavaa lääkettä * Menoelvytys on tehotonta * Veroelvytys auttaa sekä lyhyellä että pitkällä aikavälillä * Alennukset kohdistettavat tuloveroihin

Von Gerich: Northern Lights Finland: Negotiating a better futureNordea
The Finnish economy has fallen back into recession, and no quick recovery is in sight. In the current circumstances, the importance of credible domestic policies cannot be overstressed, so high hopes have been put on the current negotiations to form a government. Based on what we know so far, we are cautiously optimistic about the outcome, but realise there are no quick solutions to the Finnish woes. Still, we expect an improving outlook, and find some value in Finnish bonds.

Sdp:n kannatus vajoaa yhä, perussuomalaisten vahvistuuHS
Poliittista uuskieltäProfessorin ajatuksia

Vasemmistolainen strategia? Osmo Soininvaara
Soininvaara ja vasemmiston strategia – vasemmiston strategisesta umpikujastaTyhmyri