Macrobusiness Easter Links, 18-21 April

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China

Premier Li Keqiang rules out strong stimulus despite weaker growth (SCMP)

Why China’s haste to internationalise the renminbi? (Bruegel)

Towers where no lights burn at heart of China’s puzzle (FT.com)

China must resist the temptation of economic stimulus for quick relief (SCMP)

Rumours of a Chinese crash are greatly exaggerated (SCMP)

Sustainability reaching its limit in top Chinese cities (SCMP)

China economy stronger than data suggests: government (Reuters)

China Seen Cracking on Property Controls (Bloomberg)

Taming the China Bears (Project-Syndicate)

China’s Shadow Banking System (Economonitor)

Chinese Property Developers Stake Out Shares In Commercial Banks, Intensifying Systemic Risks (IBTimes)

Mysterious Suicides in China’s Leadership (World Affairs)

As residential home market cools, investment keeps on growing (China Daily)

Standing Firm against Calls for Stimulus (Caixin)

Beijing must stay the course despite the slowdown (China Economic Review)

China Moves Against Shadow Banking (MarctoMarket)

United States

Jobless Claims in U.S. Hover Near Lowest Level Since 2007 (Bloomberg)

Weekly Initial Unemployment Claims at 304,000; 4-Week average lowest since 2007 (Calculated Risk)

Consumer Price Inflation Edges Up in March but No Upward Trend in Sight for Inflation Expectations (Economonitor)

Yellen warns inflation may lag recovery (FT.com)

Yellen Lays Out Three Main Fed Concerns in Speech (Slate)

Top 25 Best Cities for Millennials to Live (ThinkAdvisor)

US Stock Bull Overextended! (ShortsideofLong)

Home price slowdown leaves millions underwater (CNBC)

Three Expensive Milliseconds (Krugman NYTimes)….. some good points about size of financial sector……

The real economy is finally doing better than the money economy (FortuneCNN)

Renters feeling the pain in big U.S. cities (CBS)

The spectre haunting San Francisco (Economist)

Americans See Real Estate as Best Long-Term Investment (24/7 Wall St)

9 Of The Top 10 Occupations In America Pay An Average Wage Of Less Than $35,000 A Year (MarketDailyNews)

China sells more of its US debt in February: Treasury (China Daily)

America’s Interest Group/Oligarchy: The TARP Abomination Was The Rubicon (ContraCorner)

Europe

Russia and West reach surprise deal on Ukraine crisis (Telegraph)

Europe’s hawks, doves, and a lot of posturing on Russia (Telegraph)

Eight EU states in deflation as calls grow for QE in Sweden (Telegraph)

ECB moving closer to unconventional policy (Sober Look)

ECB hardliner Weidmann comes in from the cold as deflation threatens (Reuters)

Painful 2013 leaves European banks’ returns well below target (Reuters)

Rivalry builds in battle for a share of China’s currency trades (FT.com)

More favourable capital treatment alone will not fix Europe’s ABS problem (Euromoney)

NPLs: Buyers in position for Europe’s deluge of distress (Euromoney)

It’s hard for Ukraine to fight back when it’s basically broke (Quartz)

Gülen, Erdogan and the AKP (Eurozine)

Germany says Nein and Ja (MarctoMarket)

Why Europe needs the City’s financial weapons of mass destruction (Telegraph)

Former Anglo executives Whelan and McAteer guilty of illegal loans to ‘Maple 10’ (Irish Independent)

Transnistria appeals again to join Russia (BNE)

Giants pool Polish shale gas efforts (BNE)

Are Taxes Behind Jump in U.K. Self-Employment? (WSJ Moneybeat)

Asia

Japan government cuts economy view after sales tax; no need for fresh stimulus (Reuters)

Japan Consumer Confidence Drops to Lowest Since 2011 (Bloomberg)

Global Macro

Out of Ammo? The Eroding Power of Central Banks (Spiegel)

The High-Tech, High-Touch Economy (Project-Syndicate)….very good read from Adair Turner

Global accounting body airs possible reform of bank hedging rule (Reuters)

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Reforms bring end of ‘currency wars’ in sight (FT.com)

When use of pseudo-maths adds up to fraud (FT.com)

Regulators’ attempts to hold back the financial tide are futile (FT.com)

Fueling a New Order? The New Geopolitical and Security Consequences of Energy (Brookings Institute)

IMF lessons for EM investors (BNE)

The lost promise of progressive taxes (Reuters)

High-Frequency Fightback Starts in Foreign Exchange: Currencies (Bloomberg)

US fires global subsidiarization starting gun (Euromoney)

Libyan plot thickens for Goldman with Palladyne ‘money-laundering’ suit (Euromoney)

The End of Our Financial Illusions (Economix NYTimes)

A Bullish Disconnect Between Stocks & Inflation (Capital Spectator)

Market Monetarism – Monetary Base Overdrive (PragCap)

Class Based Economics (RWER)

The Real Purpose Of QE – It’s Not Employment (MarketOracle)

Glaring Q.E. Failure Spotted – Money Velocity Is Falling Rapidly (MarketOracle)

Watch the indices! Derivatives and the Eurozone sovereign debt crisis (VoxEU)

Taxing, spending, and inequality – what is to be done? (VoxEU)

Prof. Lawrence H. White’s flawed defence of fractional reserve (Ralphanomics)

Toward a run-free financial system (John Cochrane, University of Chicago)

Commodities

Gold: In search of a new standard (FT.com)

Platinum Strike Widens Output Deficit Seen Lasting Years (Bloomberg)

Iron Ore Slump Forecast as StanChart Recommends Bets on Losses (Bloomberg)

Year of the Gas (FinancialSense)

Contango Report: WTI Backwardation Grows (ETF)

China to Ban High Sulfur Coal Imports (OilPrice)

Peak Soil: Are We Taking More Than the Earth Can Give? (OilPrice)

Russia, China Seek To Seal Natural Gas Deal By Putin’s May Visit To Beijing: Official (IBTimes)

Australia/New Zealand

Abbott’s vision for Australia: a surplus at whatever cost to people’s lives (Guardian)…good piece from Greg Jericho

Australian Buyers’ Dreams Deferred as Housing Prices Rise (Bloomberg)

Tony Abbott: Making New Friends Doesn’t Mean Losing Old Ones (Caixin)

How Telecom Graft in China Tripped Up Telstra (Caixin)

Elwood, Australia’s No. 1 investor spot (Yarra Property Domain)

Tokyo to limit cut-price Aussie pork and chicken via quota system (JapanTimes)

Fonterra Products Still Banned by China Eight Months After Scare (Bloomberg)