2nd Apr - Waiting for tomorrow's ECB

Previously on MoreLiver’s:

Tuesday: Good Macro, ECB hopes waning

April's Fools

Some Charts

Monday: Disinflation in EZ

W/E: Off-Topic & Finnish

W/E: Markets & Economics

W/E: The World

W/E: Credit Guest: Too Big to Fall

W/E: Weekly Support (updated)

W/E: Best of the Week

Friday: Deflationary signals in EZ, but not enough for ECB to act?

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EUROPE

ECB preview: it could be a boy or a girl – TradingFloor

Mads Koefoed: Another drop in inflation has the rate cut drums going in the euro area ahead of the ECB meeting. While I expect rates to stay unchanged, it is with less conviction than in previous months. Other types of action are also a possibility.

Hardy: ECB could come up with "dovish surprise" – TradingFloor

ECB decision coming up and the markets are hesitant as economists weigh up the likelihood of action from the European Central Bank.

ECB takes zero tolerance stance on banks' health check complaints – BB

ECB will push banks to the limits with data requests for its upcoming review of their books and insist on common treatment for all 128 banks, it told Reuters, signaling it will not give way to complaints raised by lenders.

Draghi’s Attempt to Talk Down Euro Lost on Traders – BB

As far as currency traders are concerned, it’s going to take more than words for Draghi to weaken the euro.

ECB’s Constancio Says No Deflation Seen as Recovery Gains – BB

The euro area will probably avoid outright deflation as a “soft” economic recovery gradually reduces spare capacity in the economy, ECB Vice President Vitor Constancio said.

Industrial producer prices down by 0.2% in both euro area and EU28 – Eurostat

UNITED STATES

Yellen Jobs Dashboard Shows Rate Rise Far on Horizon – BB

More than two-thirds of the gauges on Janet Yellen’s labor-market dashboard are still showing worse readings than before the recession, reinforcing her belief that the economy will need “extraordinary support” from the Federal Reserve for “some time to come.”

Bullard Says Inflation Slowing More Might Cause QE Taper Delay – BB
Fed's Lockhart says sustained three percent growth would warrant rate hike – BB

ASIA

China’s Overnight Rate in Longest Rising Streak Since October - BB

China’s overnight money-market rate climbed for a seventh day, the longest stretch in five months, after the central bank drained more cash from financial system.

China takes first step to steady economic growth – BB

China acted for the first time this year to steady its stumbling economy by cutting taxes for small firms on Wednesday and announcing plans to speed up the construction of railway lines.

OTHER

The ‘Crude Wall’ cometh – FT

We may have become used to talking about Saudi America, but we haven’t yet figured out the longer term consequences of America’s oil production resurgence. According to the charts, not only is the shale revolution breaking down America’s dependence on foreign oil, it’s African crude — rather than Middle Eastern — that it’s displacing the most.

End of a low vol era? – FT

Apparently hedge funds are about to turn buyers of volatility for the first time in three years…

Things That Make You Go Hmmm... – Grant Williams / ZH

FINNISH

Tämä säästökepponen pahentaa kestävyysvajetta – Jan Hurri / TalSa

Valtion eläkerahaston osittainen purkaminen budjetin tilkkeeksi on kumma kestävyyskepponen vailla tolkkua: se pienentää valtion tämän ja ensi vuoden alijäämää mutta pahentaa sitäkin enemmän pitkän ajan kestävyysvajetta. Tällainen "säästäminen" on hölmömpää kuin hölmöläisten peiton jatkaminen.

Ralliapina ja pankkiirin sydän – tällaisia ovat finanssialan vitsit – TalSa

Pankin ryöstäminen ei nykyisin enää kannata, fiksumpaa on perustaa sellainen. Finanssialalla huumori vaihtelee itseironiasta raadolliseen, oman edun tavoittelua korostavaan ilmaisuun. Lue, minkälaisia vitsejä finanssialalla kerrotaan ja mikä on EKP:n Mario Draghin lempivitsi.

Sixten Korkman: EKP:n olisi korkea aika toimia pontevammin – HS

Talous on ohjusta vahvempi – Risto Pennanen / TalSa

Suomen kannattaa käyttää enemmän voimia talouskisan kuin sotien voittamiseen.

Kestääkö kasvu reaalikorkojen nousun? – Roger Wessman

ISM vahvistaa kasvun viilentyneen – Roger Wessman

Julkisen sektorin alijäämä oli 4,2 prosenttia vuonna 2013 – Tarinoita Taloudesta

Perussuomalaisilta piikki Ylelle: Lahjaksi jakkara – IL

Kommentti: Se on sitten kai lähtö edessä, Jutta U. – MTV

Huhtikuu on kuukausista julmin. Sitä se on ainakin SDP:n puheenjohtajalle Jutta Urpilaiselle. Tilanne alkaa olla pläkkiselvä: Urpilaisen puheenjohtajuus on nähty.