Follow ‘MoreLiver’ on Twitter
EUROPE
EUROPEAN
CENTRAL BANK
Helicopter money is the
ultimate weapon to revive inflation. The practical implementation of the
theoretical concept contains many complexities, especially in the Euro area.
The capacity of different countries for helicopter drops varies a lot, and e.g.
the Greek and Spanish central banks would have much less buffers to give away
compared to Ireland and Italy. Helicopter Mario will not take off, unless
deflation becomes a real threat and other measures have been exhausted.
Nonfinancial bond
issuers in the credit starved nations of southern Europe are currently
recording their lowest bond yields ever
Where next for the ECB? Part 1 – Open
Europe
We begin by examining
the current state of play and seeing whether the latest ‘big bazooka’ by Mario
Draghi is really as impressive as many think.
Core euro area inflation surprises on the upside – Pictet
UNITED STATES
Was Yellen's extremely
dovish performance on Tuesday a reassertion of her leadership to quell dissent
within the ranks or should we not be reading too much into the mixed messages
dominating the airwaves?
No quick fix for US potential GDP growth – Danske
Bank
Output and labour gap to
close faster than Fed thinks
5 Things to Watch in the March Jobs Report – WSJ
Goldman: March Payrolls Preview – Bill
McBride
REGULARS
Fed hike hopes fading, USD catching
breath ahead of Friday data, euro area inflation at 0% * Euro-area inflation to
rise in March * Market losing hope in Fed June hike * USD weakening likely to
resume as key technical levels tested
Wednesday's gains on Wall Street buoyed
sentiment in Asian markets with the lingering USD weakness apparent in forex
markets and risk sentiment. The ADP payrolls print came in ahead of
expectations as well priming investors for a strong nonfarm payrolls report
Friday.
5 charts on corporate profits
Daily Shot – TF
Emerging markets have
been through a deeper recession than was seen in 2008-09 and Taiwan is one
economy that has been sputtering due to the global demand slowdown especially
in China. But investors are returning to Tawan and other Asian emerging
markets. Meanwhile Chinese investors are flooding into the US shifting money
out of the way of further yuan depreciation. And policy divergence means that
fewer US rate hikes will be needed a Fed official says.
Daily Press Summary – Open
Europe
New poll finds strong
support for Boris Johnson to take over as Tory party leader * IMF still seeking
larger budget cuts in Greece * President of Germany’s Ifo Institute: British EU
reform demands would benefit the EU * Italian Finance Minister: EU fiscal rules
damage Italy more than other countries * EU referendum uncertainty and poor
Eurozone growth seen impacting consumer confidence * SPD considering running
federal election campaign on basis of renewing grand coalition * France drops
controversial plans to strip terrorists of citizenship
Satire saga — Mega
mergers — Brussels attacks latest
US Open – ZH
On Final Day Of Extremely Volatile
Quarter, Futures Trade Modestly Lower
Frontrunning – ZH
What Saxo Bank's
Christoffer Moltke-Leth describes as "a hectic and volatile quarter"
initially chugged along towards a peaceful finish on this final day of March as
volatility dipped to a 6-month low Asian shares ended narrowly mixed and broad
satisfaction with the Fed's recent flash of dovish sentiment underpinned forex
majors.
FINNISH
Ruotsin
asuntomarkkina kuumottaa – muttei romahda * Euroalueen inflaatio kiihtyy
nollaan * Euroalueen talouselämän luottamus laski maaliskuussa * USA:n
yksityisen sektorin työpaikkojen (ADP) kasvu oli likimain ennusteiden mukainen