Previously on MoreLiver’s:
Roundups &
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Daily Interest Rate Monitor – Global Macro Monitor
Recap – Global
Macro Trading
The Closer – alphaville / FT
US: Another Day, Another Record High Close – ZH
EUROPE
The EU commission
wants to extend EU nationals' welfare rights despite a warning on "benefit
tourism" by major EU countries.
Overindebted Dutch
heading deeper into recession
The Bank of England's
Monetary Policy Committee concludes its two-day meeting tomorrow. The recent data have been stronger than
expected and this has boosted economists' conviction that the MPC refrain from
cutting rates or resuming its gilt purchases.
The Road to Liikanen – Recovery
and Resolution Plans
On 6 May 2013, the EU
Commission published a roadmap regarding a proposal for a structural reform of
EU banks (i.e. the Liikanen reforms) – full pdf
from the European Commission.
CYPRUS
Introductory statement
by Mr Jörg Asmussen, Member of the Executive Board of the European Central
Bank, at the European Parliament, Brussels, 8 May 2013.
EU ministers will on
Monday debate a report on Cyprus money laundering. Sources say it contains
nothing shocking, but levels of secrecy are "very" high.
"It is worth
recalling that the reunification of the island would give a major boost to the
economic and social development of Cyprus," the commissioner told MEPs
Treppenwitz – Fistful of
Euros
The Eurozone has a
criterion that bank debt writedowns can be justified as long as the creditors
are not worse off than they would have been under liquidation?
UNITED STATES
From junk bonds to… – alphaville
/ FT
Yielding less than 5
per cent for the first time ever.
STOCK
MARKET
Where Is ‘the Party’ Now? – The Big
Picture
Let’s entertain
ourselves today by observing the collective capital market and economy in terms
of the “party metaphor” and let me know where you think the party is today.
The soaring stock market – Econbrowser
Broad market
indicators like the S&P500 have been making all-time nominal highs. What's
the significance of that for investors and the economy?
Sector Relative Strength By Market Cap – Bespoke
FED
Fed’s Fisher Would Taper MBS Purchases First – WSJ
Should the Fed opt to taper its bond buying program, it would be best to start with
mortgage-backed securities, the head of the Dallas Federal Reserve bank said
Wednesday.
Fed's credibility tested as inflation drifts
below target – Reuters
With the inflation
rate about half of the Federal Reserve's 2.0 percent target, the central bank
is facing a major test and some experts wonder whether it will eventually need
to ramp up its already aggressive bond buying program.
OTHER
Business Cycle Monitor – Danske
Bank (pdf)
Global recovery
slowing down
G20 Leaders: Changing Words on Fiscal Policy – WSJ
Excerpts from the
fiscal policy sections of G-20 communiqués, which have evolved since the
financial crisis.
FINNISH
Ulkomaiset
rakensivat 1998..2007 Suomeen enemmän yritystoimintaa kuin minnekään muualle – Kai
Nyman / Piksu