Here are the links to
the weekly roundups, reviews and also previews of the beginning week. Last
week's 'Support' here.
LAST WEEK
Friday Close
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global
Macro Trading
Friday Europe macro
Euro-Area Exports
Increase 3% as Inflation Holds Below 2% – BB
July 2013 Euro area annual
inflation stable at 1.6% – Europa
June 2013 Euro area
international trade in goods surplus EUR 17.3 bn – Europa
Friday US
macro
Michigan Consumer Sentiment: A Disappointing Decline – dshort
Consumer Sentiment
Dips – WSJ
U.S. consumer sentiment weakens in August – Reuters
U.S. consumer confidence dips; housing starts miss forecasts – Reuters
Housing Starts and
Building Permits Inline With Forecasts – Bespoke
Quarterly Housing
Starts by Intent compared to New Home Sales – Calculated
Risk
These two charts
explain the housing market – Wonkblog
/ WP
Analysis: As Long as
Job Market Improves, Housing Has Room to Run – WSJ
Housing Expansion May
Be Getting Scaled Back – WSJ
Productivity Advanced
in Second Quarter – WSJ
Weekly Close
US: Stocks Have Worst
Week Of 2013 With Bonds Massacred; Precious Metals Soar – ZH
Weekly Scoreboard – Between
The Hedges
US market portrait – Portfolio
Probe
The Economist’s Weeklies:
The Weekender – alphaville
/ FT
Succinct summation of week’s events – The
Big Picture
The Week That Was – ZH
NEXT WEEK
Schedule for Week –
Calculated Risk
The key reports this
week are July existing home sales on Wednesday, and July new home sales on
Friday. The Kansas City Fed will host the annual Jackson Hole symposium from Thursday through Saturday. Fed
Chairman Ben Bernanke will not be attending, although the likely next Fed Chair
Janet Yellen will be attending but not speaking.
Economic Calendar – Berenberg
(pdf)
US Fed minutes: more
hints on liquidity tapering * Eurozone PMIs: broadening recovery * US housing
data: modest impact of higher mortgage rates
Economic Calendar – Handelsbanken
(pdf)
S&P 500 Earnings Week Ahead – Reuters
Wall Street Week Ahead – Reuters
After Wall Street's
biggest weekly decline since June and the worst week this year for the Dow
average, investors will be searching for a rebound. But the best gains may not
be at home as investors take notice of an improved outlook in Europe.
(video) US Week Ahead – Reuters
Weekly Focus: Strong data is good - isn’t it? – Danske
Bank (pdf)
In the US minutes from
the July FOMC meeting will give us more information on Fed’s thinking about the
timing and pace of tapering. We doubt Jackson Hole will provide new insights into
Fed’s monetary policy thinking.
In the euro area the positive sentiment is expected to continue as both PMI
figures and consumer confidence should increase. Chinese flash HSBC
manufacturing PMI is expected to indicate that growth in China is not slowing
severely.
Week Ahead – Nordea
(pdf)
US: FOMC minutes and the Jackson Hole conference will take place next week and will be closely watched by markets. Any hints regarding when tapering could start will likely result in large market reactions. Euro zone: PMIs are likely to see continued improvement in the Euro zone next week. However, as rates move higher, the probability for Draghi trying to talk them down will increase.
US: FOMC minutes and the Jackson Hole conference will take place next week and will be closely watched by markets. Any hints regarding when tapering could start will likely result in large market reactions. Euro zone: PMIs are likely to see continued improvement in the Euro zone next week. However, as rates move higher, the probability for Draghi trying to talk them down will increase.
China: HSBC flash PMI
is out on Thursday and will likely set the tone for markets on Thursday
morning.
Weighing the Week
Ahead – A Dash of Insight
Will rising interest rates kill the stock rally? There are two sharply divergent viewpoints: 1) It is all about the Fed…. 2) It is all about the economy.
Will rising interest rates kill the stock rally? There are two sharply divergent viewpoints: 1) It is all about the Fed…. 2) It is all about the economy.
Market positioning,
amid thin conditions, appears to be the best explanation for the seemingly
inexplicable price action in the foreign exchange market. The consensus has been bullish the dollar on
ideas that the Fed will be the first of the major central banks to begin
pulling away from the extraordinary policies pursued in the aftermath of the
end of the credit cycle. However, this
story has been increasingly eclipsed by the reflation story in Europe, and to a less extent, China. The
resulting increase in interest rates, in turn, adds to the pressure on many
emerging markets.
Weekly Credit Update – Danske
Bank (pdf)
Emerging Markets
Briefer - August 2013 – Danske
Bank (pdf)
Emerging: Week Ahead –
beyondbrics / FT
CALENDARS
Economic Calendar – investing.com
Economic Calendar – BB
EU calendar – europa.eu
Markkinakalenteri – Nordnet