Drivers ahead: February Markit PMI's on Thursday, German IFO on Friday. Then it will be the elections in Cyprus (no market surprises) and Italy (surprises possible).
Previously on MoreLiver’s:
Roundups
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
MORNING BRIEFINGS
A modest
improvement in the mood among analysts is expected in today’s ZEW report for Germany, followed by what’s likely to be a
relatively weak wholesale trade report for Canada and a slight gain for the NAHB
Housing Market Index in the US.
Market Preview: EU and German ZEW sentiment
indices in spotlight
– TradingFloor
European
markets are expected to open marginally higher Tuesday. Today, investors will
keenly watch Eurozone and German ZEW survey sentiment indices which are
expected to show an improvement in February.
JPY
strengthens as finance minister rules out foreign bond buying. European
periphery spreads wider on nervousness ahead of Italian election. We expect the
German ZEW and the US NAHB index to surprise on the upside today.
Aamukatsaus – Nordea (pdf)
Spekulaatiot BoJ:n uudesta puheenjohtajasta kiihtyvät * EKP:n
edustajat rauhoittelivat valuuttasotahuolia * Varovaisuus nosti päätään
riskimarkkinoilla
Aamukatsaus – Tapiola (pdf)
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat
EUROPE
Germany's central bank is extreme, but not
crazy – Reuters
Hugo Dixon: In a world where it is
increasingly fashionable to call for central banks to print money, the
Bundesbank is one of the last bastions of orthodoxy, and a useful antidote to
the theory that easy money is a cost-free cure to economic ills.
Merkel Cites East German Lessons for EU’s
Problem States – BB
Chancellor
Angela Merkel said that European countries burdened by the fallout of the
euro-area debt crisis can learn from East Germany’s experiences of economic overhaul
after the fall of the Berlin Wall.
ASIA
Structural
challenges ahead * Growth recovery to be followed by new slowdown * Hong Kong, Taiwan follow the mainland
Delayed by
a week, fanning talk of friction between the prime minister and the finance
minister over who should run a central bank charged with taking bold action to
reignite the economy.
OTHER
Viikkokatsaus:
“Luottamusmittarit nousussa?” – Nordea (pdf)
Ruotsin keskuspankki yllätti * Euroalueen BKT surkeassa
jamassa * Toisen LTRO:n takaisinmaksut pienemmät kuin ensimmäisen * Italian
vaalit kasvattavat hermostuneisuutta
The Week Ahead – Handelsbanken
(pdf)
US: Core CPI will likely increase by 0.2 percent
in January. Housing market activity will probably continue to pick up. Sweden: Forecast clear drop in January
consumer prices, upward rebound for January unemployment and further
recovery forecast to economic confidence. Norway: No major items. EMU: PMI Composite likely to decrease to
48.0 in February. PMI Service likely to decrease to 47.8 in February. China: Rising property prices adds
pressure to cool market.