Roundups &
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global
Macro Trading
The Closer – alphaville
/ FT
Tomorrow’s Tape: Non-Farm Payrolls – WSJ
US: Trannies Tumble As Dow Hits New-er-er All-Time
High – ZH
Following
our discussion of the outlook for the Chinese economy yesterday, we turn our
attention today towards Chinese currency policy.
EUROPE
For the ECB
meeting, see my Special:
ECB Watch
The troika should recognise the efforts made by
Portugal to rebalance its finances and adjust the country’s bailout conditions – europp /
LSE
BOE Keeps QE on Hold as Officials Weigh More
Radical Tools – BB
The Bank of
England left its four- year-old bond-purchase program unchanged today as policy
makers debate more radical measures to aid the recovery.
UNITED STATES
Employment Situation Preview – Calculated
Risk
FED’S STRESS TESTS
Results of
Fed’s Stress Tests of Banks – WSJ
Stress test
results out, suspense not over yet – alphaville
/ FT
Fed’s
Stress Tests Point to Banks’ Improving Health – Dealbook
/ NYT
Surprise!
All Banks Pass Stress Test (Except Ally) – ZH
Does This
Look Like An "Adverse Scenario"? – ZH
ASIA
We seek inflation here, we seek inflation
there… - alphaville
/ FT
Bye bye banknote rule (for real) – alphaville
/ FT
Abenomics
does not suffer rules gladly so the BoJ’s self-imposed ‘banknote rule’ must be
getting pretty nervous right about now. It says the BoJ’s holdings of
longer-term Japanese government bonds cannot exceed bank notes in circulation
(unless they decide it can, naturally).
OTHER
Euro and S&P 500: Not What You Think – Marc
to Market
It is
commonplace now to talk about break down of the risk-on/risk-off (RoRo) matrix
and in particular the decoupling of the euro from the S&P 500. Be careful.
Most observers were slow to recognize this decoupling, which we had been
writing about for some time, and are missing the more recent trend in which the
linkage has tightened.
EMEA Weekly – Danske
Bank (pdf)
IN FINNISH
Kypros - hallituksen
kompastuskivi – Toimi
Kankaanniemi / US Puheenvuoro
Urpilainen kehui
itseään eduskunnassa: "Euroopan Täti Tiukka" – Iltalehti
Vanha laulu,
samanlaiset – Juhani
Huopainen / US Puheenvuoro