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Thursday, March 24

24th Mar - Nervous holidays begin



Previously on MoreLiver’s:

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EUROPE
Economic Bulletin Issue 2, 2016ECB
The slowdown in US labour productivity growth - stylised facts and eonomic implications * Current oil price trends * Liquidity conditions and monetary policy operations * Factors behind the comparatively strong actvity in euro area services * The impact of the oil price decline on the current account surplus of the euro area * The relationship between HICP inflation and HICP inflation excluding energy and food * The 2016 macroeconomic imbalance procedure and the implementation of the 2015 country-specific recommendations

  TERROR
Poland Abandons Pledge to Shelter Refugees After Brussels Blasts – BB
Brussels attack is another nail in the European Union’s coffin – Reuters
Brussels bombings are a sign of Islamic State’s panic – Reuters
How terrorism's carnage became the new normal – TF
Will the Brussels Attacks Finally Unite Us? – euinside


UNITED STATES
Kocherlakota: 'Helicopter Money' Won't Provide Much Extra LiftView / BB

Editorial: The Fed Fails to Connect the DotsView / BB
A widely misinterpreted graph only muddies the central bank's message.


OTHER
Turning to the dark sidePolemic’s Pains

FX: will the Easter Bunny dent reflation?Nordea
The Fed has done its best to propagate confusion recently, first providing a dovish shock but then spending their time taking most of it back. The median policy rate forecast of the Fed could switch quickly given the balance among the dots, core PCE inflation could provide the trigger for a further reflation-denting repricing of the Fed.


REGULARS
Euro rates updateNordea

Eye-OpenerNordea
US Treasuries and the USD rally, commodities under pressure, Happy Easter * German yields with more downside potential * Commodity currencies under pressure

Morning MarketsTF
Crude oil is back on the slippery slope following fresh data revealing a stockpile surge in excess of 9 million barrels over the past week.

Daily Market Comment Marc Chandler
Dollar Continues To Recoup Recent Losses

Daily Market CommentMacro Man
Was that it?

Daily Press SummaryOpen Europe
Latest phone poll shows ‘Remain’ lead shrinking but ‘Leave’ still seen as bigger economic risk * Former head of MI6: Cost of Brexit from a national security perspective would be low * Brussels attacks prompt Poland to backtrack on pledge to take in 7,000 asylum seekers * Populist AfD strengthens its hold on third place in wake of Brussels attacks * Trump: Britain will end up leaving the EU over migration “craziness” * Greek official hits out at IMF for delaying completion of bailout review

Brussels PlaybookPolitico
Pressure mounts on Belgium — Security Union — Trump questions NATO

US OpenZH
U.S. Futures Slide, Crude Under $39 As Dollar Rallies For Fifth Day

FrontrunningZH


FINLAND & FINNISH
AamukatsausNordea
Ruotsin asuntomarkkinoilla katto vastassa * Ruotsalaisyritysten luottamus laski odotettua enemmän * Ruotsin palkkaneuvottelujen takaraja lähestyy * Öljyn hinnanlasku veti eilen valtionlainakorkoja mukanaan

Euro ja Talous: Miksi Suomi ei pysy vertaistensa vauhdissa? Suomen Pankki

Mitä Suomen taloutta vaivaa? Roger Wessman