Roundups
News roundup – Between
The Hedges
The 6am Cut London – alphaville
/ FT
Emerging Markets
Headlines – beyondbrics
/ FT
Asia Morning MoneyBeat: Are We Concerned Yet? – WSJ
MORNING BRIEFINGS
3 Numbers to Watch: UK & German industrial
output, US 10 yr yield – TradingFloor
Industrial production
updates for the UK and Germany are among today’s crucial numbers. Meanwhile, keep an eye on the US 10-year Treasury yield as the budget war in Washington rolls on and large Treasury holders - Japan and China - watch anxiously.
Market Preview: Eyes on FOMC minutes as budget
deadlock continues – TradingFloor
European markets are
likely to open lower Wednesday amid rising concerns over the US budget impasse. Meanwhile, the US president will nominate Janet Yellen as the
new Fed head today. Traders eye today’s FOMC minutes and German industrial
output data.
Danske Daily – Danske
Bank (pdf)
In the US an
agreement on increasing the debt ceiling does not appear to be imminent. Obama is
expected to announce the nomination of Janet Yellen as chairman of the Federal
Reserve. The minutes from the last Fed meeting released this evening are expected
to show that the surprise Fed decision to delay tapering of its bond purchases was a very close call. In Europe
focus today will be on industrial production data for August in Germany and the
UK. The weaker-than-expected German factory orders released yesterday suggest
that there also could be some downside risk to German industrial production today.
US curve
continues to flatten, as short yields rise * Equities taking another beating * Spanish
and Italian bond yields rise, as more issuance in the pipeline * Increased market pressure adding
to chances of an agreement on the debt ceiling * Dovish line to continue at the
Fed – Yellen picked to succeed Bernanke * Small business confidence suffering
only mildly in the US * ESM finding strong demand for its first bond issue * German
industrial orders remain bumpy * Fed minutes to reveal the central bank’s
worries over tighter fiscal policy * More issuance from the US and Germany
Aamukatsaus – Nordea
Kuka maksaa
viulut? * Yellen Fedin johtoon * Ei merkkejä Suomen viennin piristymisestä
Aamukatsaus – Tapiola (pdf)
Osakemarkkinoilla
ollaan yhä huolestuneempia USA:n velkakattokiistasta, joka vaikuttaa olevan nyt
umpikujassa. Yellenistä uusi USA:n keskuspankin pääjohtaja. Yellen tunnetaan elvytysmyönteisyydestä.
IMF laski kehittyvien markkinoiden kasvuennusteita. Osakefutuurit miinuksella,
indikoiden laskuavausta OMX HEX:iin. Stora Enson Q3 odotuksia vahvempi, mutta
loppuvuosi puolestaan jää heikommaksi.
EUROPE
Chart of the Day - France in Limbo – Macronomics
Europe should ask the US to shutdown political
uncertainty – Bruegel
The debt ceiling discussion and its impact on Europe
UNITED STATES
Economic Confidence Collapses At Fastest Pace
Since Lehman – ZH
SHUTDOWN
/ DEBT CEILING
What’s happening in the Treasury bill market
today should terrify you – WaPo
The un-terrifying Treasury bill market – Felix
Salmon / Reuters
The Treasury-bill
market, then, is a bit like the market in US CDS: it’s a thin market which is
being asked to support much more rhetorical weight than it can reasonably bear.
In the real world, Treasury bills remain an absolutely safe market
A very simple timeline for the debt-ceiling
crisis – WaPo
Goldman: "Today Was The First Day That
Concerns About The Debt Ceiling Really Started To Be Felt" – ZH
Shutdown Now 6th Longest In History (Longer
Than Average Of All Others) – ZH
OK, the Tea Party
didn't make an ideological stand over the fiscal cliff, but it is doing so now
over the debt ceiling as leverage with Obamacare as their casus belli. How does
the Establishment wing react? Go along with the Tea Party and commit electoral suicide
or do what the PDL did to Silvio Berlusconi? My bet is that when push comes to
shove, they take the latter path.
FEDERAL
RESERVE
Picturing The Slow Rise And Quick Fall Of Fed
Credibility – ZH
White House Statement
On Yellen Nomination – WSJ
Janet Yellen: Timeline
of Her Career – WSJ
Yellen Nomination
Positive for Asian Economies – WSJ
Economists React:
Yellen ‘What We Really Need in a Fed Chair’ – WSJ
Five Things You Need
to Know About Janet Yellen – WSJ
Yellen! (But don’t
forget the other slots…) – alphaville
/ FT
White House Set To
Announce Yellen Fed Nomination Tomorrow – ZH
This is the biggest
challenge Janet Yellen will face as Fed chair – WaPo
Janet Yellen called
the housing bust and has been mostly right on jobs. Does she have what it takes
to lead the Fed? – WaPo
Yellen Nomination
Rally Half-Life 90 Minutes – ZH
In the Picture: Janet
Yellen – The World
/ FT
Thank You Mr.
President And All The Best To Janet Yellen – EconoSpeak
Smart reads – Janet
Yellen – The
World / FT
Obama to choose Yellen
for top Fed job, markets relieved – Reuters
Yellen brings dovish
bent, communications skill to Fed table – Reuters
Factbox: Five facts
about Fed chair nominee Janet Yellen – Reuters
Factbox: Policy
challenges looming for Yellen as likely next Fed chair – Reuters
Yellen to Be Named Fed
Chairman, First Female Chief – BB
FINNISH
Yksittäisen
vientiyrityksen etu ja Suomen etu eivät ole sama asia – yritys voi pärjätä
vaikka Suomi ei pärjäisi – Tyhmyri
