Disappointment on the EU summit, technical resistance levels and general anxiety over the 25th birthday of the stock market crash of '87 could turn the session to negative territory. (EDIT: Calendar updated)
Previously on
MoreLiver’s:
Roundups &
Commentary
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Today’s front pages – presseurop
Daily press summary – Open Europe
EU Council legal advisors conclude that
without treaty change ECB bank supervisor would lack formal powers
Morning MarketBeat: Google, Microsoft Illustrate
Tech’s Struggles – WSJ
Broker Note Briefing – WSJ
Europe: Still Center Stage – Marc
to Market
Monster Trucks, Summits, and Gravity – TF
Market Advisors
US session ahead
Pre-market
Commentary – Marketwatch
Pre-Market
Trading – CNNMoney
Pre-Market
– NASDAQ
US Equity Preview – Bloomberg
Earnings
& Events – The
Street
MarketCurrents
– Seeking
Alpha
Reference
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
Italy has
really managed to get its wealthy household sector involved in funding the
government. The country placed a massive EUR 18bn BTP Italia bond yesterday, a
new 4-year government bond linked to Italian inflation. This was the biggest
Italian bond issue ever.
EUROPE: SUMMIT
EU summit: What, exactly, was agreed Friday?
Merkel, the German chancellor, has now said she is
willing to work towards “agreeing” the package by the end of the year. That’s
incremental, but important…Far less clarity was achieved on the next step of
the process, which many officials consider far more important: when will the
eurozone’s €500bn rescue fund, the European Stability Mechanism, be able to
pump cash directly into failing banks.
Half time at the
summit – alphaville
/ FT
Here’s a handy run down from JP Morgan’s Alex White:
Europe pushes ahead
towards ECB bank supervision – Reuters
European Union leaders agreed on Friday a single
supervisor will take responsibility for overseeing euro zone banks from next
year.
Highlights: Comments
after EU leaders' summit – Reuters
OTHER
Weekly Credit Update – Danske
Bank (pdf)
In the absence of high issuance volume in the primary
market recently, cash-rich investors have emptied the shelves for bonds to an
extent reminiscent of a Soviet supermarket. Consequently, spreads are
moving tighter again
IN FINNISH
Suomi selvisi
onneksi diplomaattisilta ongelmilta kun ei tullut valituksi YK:n
turvallisuusneuvostoon. Potkut tosin voitaisiin antaa niille, joiden
kuningasajatus koko hanke ylipäätään oli, siinä määrin järjetön se pienen maan
kannalta on.
Suomi velkaantuu - julkista velkaa jo
40,000€/työssäkäyvä – Petri
Kivikangas / US Puheenvuoro