Previously on MoreLiver’s:
Roundups and
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global
Macro Trading
The Closer – alphaville / FT
Commentary – TF
Market Advisors
Tomorrow’s Tape: Earnings season gets started – WSJ
US: Equities Stumble As VIX Term Structure Keeps
Steepening – ZH
Reference
Debt crisis
live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
Economic
Calendar – Forexpros
No change
in policy – but discussions on mandate
The EU speech Cameron should make – Hugo
Dixon / Reuters
We have
three main options: quit the EU; move to the edge as the euro zone pushes
towards closer union; and seek to stay at the heart of Europe and influence its development in a
way that promotes our interests.
Analysis: Angela Merkel, too powerful to fail? – euobserver
Merkel, the
most powerful leader in the EU, seems set for another mandate after German
general elections in autumn - if she can find a coalition partner.
Euro Crisis Risks Eliminated? – PragCap
It looks to
me like we’re in a position where the governments on the periphery will
continue to miss deficit targets and debt will remain extremely high, growth
will stagnate and civil and political unrest remains the surest risk to causing
an unraveling.
Euro’s ‘Draghi Put’ Could Be Coming to an End – Euro
Crisis / WSJ
Draghi Seeks Extended Calm in 2013 on Fading
Euro Economy – BB
Italian politics gets more messy – Nordea
Peripheral returns to the bond market are a bit
like pornography – alphaville
/ FT
Ireland will soon tap — reopen for sale — its current five-year bond, its debt office said on Monday
Ireland will soon tap — reopen for sale — its current five-year bond, its debt office said on Monday
UNITED STATES
Thoughts on the Budget Deficit – Calculated
Risk
Question #8 for 2013: Will Housing inventory
bottom in 2013? – Calculated
Risk
Right now
my guess is active inventory will bottom in 2013, probably in January.
DEBT
CEILING
Be Ready To Mint That Coin – Krugman
/ NYT
Choice
between two alternatives: one that’s silly but benign, the other that’s equally
silly but both vile and disastrous. The decision should be obvious.
In a pinch,
the coin should be wielded as a bargaining chip or outright solution. But America needs to face up to its
institutional weaknesses and get serious about legislative reform or expect
much more of this stumbling concentration of power in the White House to result.
Why we won’t mint a platinum coin – Felix
Salmon / Reuters
So while
#mintthecoin is an amusing intellectual exercise, no serious executive-branch
politician should or will embrace it. Not unless he wanted to torpedo the
international credibility of the United States just for the sake of some
short-term political one-upmanship.
Bond market prices Fed out – but just wait ‘til
the debt ceiling – MacroScope
/ Reuters
This is what would happen if we breach the debt
ceiling – Wonkblog
/ WP
Mint the Platinum Coin? – Economist’s
View
What’s the
outlook for China’s growth in 2013? China Real Time
asked economists to flip their best forecasting coin, then charted the results.
OTHER
Summary Of Key Events In The Coming Week – ZH
The Ten Charts Ignored By Bulls – ZH
BASEL RULES EASED
Banks Win an Easing of Rules on Assets – NYT
A group of
top regulators and central bankers on Sunday gave banks around the world more
time to meet new rules
Banks, Here’s your new liquidity regime. Now
stop blaming us. Love, Basel – alphaville
/ FT
Will bank lending finally start to rise? – MacroScope
/ Reuters
Banks, in Europe at least, have also insisted that
lending has remained low because there isn’t the demand for credit from
business and households. If that’s true, increased willingness to lend might
not be snapped up.