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Monday, January 28

28th Jan - EU Open


Davos-, Cameron- and LTRO repayment specials have been updated.

Previously on MoreLiver’s:

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Roundups
News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT

MORNING BRIEFINGS
3 Numbers to Watch: IT Cons. Confid., US Durables, US Dallas FedTradingFloor
The January report on consumer confidence in Italy may reveal if there are any signs of hope for Europe's third-largest economy this year, while a mixed outlook awaits with updates on US durable goods and the Dallas Fed Manufacturing Index.

Market Preview: US durable goods orders, pending home sales eyedTradingFloor
European markets are expected to open in the green Monday. Markets will keep an eye on US durable goods orders, pending home sales and EU M3 money supply data due later today.

Danske DailyDanske Bank (pdf)

AamukatsausNordea (pdf)
Takaisinmaksut EKP:lle tukevat riskinottoa * Luottamusluvut povaavat hyvää vuotta Saksalle * Euro sai tukea Saksan rohkaisevasta IFO-indeksistä

AamukatsausTapiola (pdf)


S&P500 osakeindeksi yli psykologisen 1500 pisteen rajan Saksan vahvan IFO:n siivittämänä. EKP:n ilmoitus takaisin maksetuista LTRO-rahoista vahvisti euroa perjantaina. Osakefutuurit nyt plussalla - indikoiden nousuavausta pörssiin aamulla.


MarkkinakalenteriNordnet
MarkkinakalenteriTaloussanomat


EUROPE
Bankers, policymakers say Europe's crisis not overReuters
International bankers and finance ministers warned on Saturday that Europe's crisis was not over even though the euro currency is now stabilised, it will take years to overcome economic malaise and mass unemployment in Europe.

Carney rejects King and supports the Fed dovesGavyn Davies / FT
Mark Carney ‘s comments on monetary policy at Davos, though not specifically about the UK, opened a wide gap between his thinking and that of outgoing Governor Sir Mervyn King

  ECB
Exclusive: ECB rejects Irish bid on promissory note – sourcesReuters
The ECB has rejected Ireland's preferred solution to a dispute over the cost of servicing money borrowed to rescue a failed bank, EU sources familiar with the talks said on Saturday.

Too early to celebrate ECB's balance sheet reductionSober Look

Europe's 'Bank Sector Involvement'Mark Grant / ZH
The interest rate, being paid by the European banks to the ECB is 0.75%, so one may rationally assume that no financial institution, in their right mind, would pay off such a loan for economic reasons. The banks cannot borrow on their own for three years at this level and so to pay them off early makes no economic sense. Yet they are being paid off and if it does not make sense economically then it must make sense for some other reason or reasons.

  PIIGS
Merkel Rebuffs Rajoy’s Call to Do More to Boost Euro StimulusBB

Prisoner of the BureaucracyJohn Mauldin / The Big Picture
Greece Must Stay in the Euro * Beware of Greeks Bearing Bonds * Contagion, Thy Name Was Greece * Prisoner of the Bureaucracy
http://www.ritholtz.com/blog/2013/01/prisoner-of-the-bureaucracy/

Italian Scandal Widens As Italy's Third Largest Bank Set To Get Third Bailout In 3 Years; Draghi, Monti ImplicatedZH

UNITED STATES
A New Housing Boom? Don’t Count on It NYT
Robert J. Shiller: We’re beginning to hear noises that we’ve reached a major turning point in the housing market — and that, with interest rates so low, this is a rare opportunity to buy. But are such observations on target?

Thresholds for QECalculated Risk

ASIA
What will China’s new leaders do? Bold or incremental reforms?Fabius Maximus
China is one pole of the 21st century world. Skeptics have predicted China’s crash for over a decade.  Even the IMF has began warming about China’s over-investments and shake banking system. Now a new generation of leadership take command. Much depends on their decisions, which will affect both China and the world.