a work in progress over the weekend as I am strapped for time….
China
- How might a China slowdown affect the world? (Michael Pettis)
- China’s Slowdown Deepens as Factory Output Growth Wanes: Economy (Bloomberg)
- China Rate Swap Rises for a Second Week as Stimulus Bets Recede (Bloomberg)
- China’s Central Bank Balancing Act (Bloomberg)
- Cleaning up Energy Consumption in China: The Nuclear Question (Peterson Institute) …good charts…
- Caution over bubble as China urged to ease policy amid slowdown (SCMP)
Asia
- The Risks of Complacency for Hong Kong, Macao and Taiwan (Economonitor)
Europe
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- Draghi to urge European leaders to reform to back ECB stimulus (Reuters)
- Ruble Slide to Record on Oil’s Drop Spurs Russia Intervention Bets (Bloomberg)
- Russian Trade Surplus Widens First Time in Three Months on Ruble (Bloomberg)
- Putting Deflation First (Eichengreen, Project-Syndicate)
- France drifts into deflation as ECB ‘pea-shooter’ falls short (AEP, Telegraph)
- Europe’s Misguided Investment Mania (Gros, Project-Syndicate)
- The European Union Lags on Basel III Banking Reforms (Peterson Institute)
- Rebalancing the EU-Russia-Ukraine gas relationship (Bruegel) …good read…
- Central and eastern Europe: uncertain prospects of economic convergence (Bruegel)
- It’s Baaack: Looming Greek Elections Threaten To Re-ignite the Euro Crisis (Economonitor)
- Italy hit by general strike against labour reforms (FT.com)
United Kingdom
- George Osborne will have to raise taxes to hit deficit targets, warns S&P (Telegraph)…the way S&P handles this may provide a sighter on how they will handle Australia…
- The Bank of England has missed its opportunity for greater transparency (Telegraph)
- George Osborne Needs to Tell Voters What Will Be Cut and When (Blanchflower, Peterson Institute)
- London should break free from Little England (FT.com)
United States
- After years of doubts, Americans turn more bullish on economy (Reuters)
- Gross Says Fed May Become ‘Dovish’ as Oil Prices Plunge (Bloomberg)
- Inequality and the American Child (Stiglitz, Project-Syndicate)
- The Joy of Growth (Ritholtz, Bloomberg)
- Krugman Gets the Big Picture Right (Bloomberg)
- Detroit emerges from nation’s largest municipal bankruptcy (LA Times)
- Insurers Use Deals to Avoid as Much as $100 Billion in Taxes (NY Times)
- The Vanishing Male Worker: How America Fell Behind (NY Times)
- US budget battle shows Wall St still toxic (FT.com)
Americas
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- Venezuela’s Got $21 Billion. And Owes $21 Billion (Bloomberg)
- Falling oil threatens Canada’s bulletproof banking system (Market Watch)…does it threaten Australia’s…..
- CMHC to hike issuer fees and mortgage rates could follow (Financial Post)
- Why the Bank of Canada’s next move on interest rates may be a cut (Financial Post)
- Company stores trap Mexican farmworkers in a cycle of debt (LA Times)
- Bank of Canada provides ‘forward confusion’ about state of housing market (Financial Post)..the Canadians are our twin, only more closely integrated into a larger economy…
Us and the Kiwis
- China Communications Construction in A$953m John Holland deal (SCMP)…with a 457 quota?…
- Pacific Basin Shipping sells assets in Australia (SCMP)
- Hockey eats humble pie as government plays for time (Fairfax)…post a bariatric sleeve could he eat that much?…
- Leighton sells John Holland in $1.15b deal (Fairfax) …another national asset sold just in time to send infrastructure spending margins elsewhere…
- Eyes on the prize: would-be PM Bill Shorten (Fairfax) …gloss aplenty, substance?…
- The impact of cheaper oil sinks in for Australia (Fairfax)
- John Viscariello says battling big boys takes it toll (Fairfax)…good read…
- Take a chill pill and go have a confident Christmas (Fairfax) …Pascoemeter does Christmas…
- After the bad news, the government promises to talk a lot more (The Conversation)...I suspect the telling will be the other way around…
- Murray pushes for fewer super tax breaks but change is unlikely (The Conversation)
Capital Markets
- Oil Rot Spreading in Credit (Bloomberg)
- Why Swaps Matter (Bloomberg)
- Crude rout hits stocks; safe-haven assets sought (Reuters)
- Don’t Repeal Swaps Push-Out Requirements (Section 716 of Dodd-Frank) (Peterson Institute)
- TLTRO spoils Christmas holidays at the ECB (Bruegel) …good read…
- Oil crash is not the biggest story in global markets right now (Financial Post) …yep, US Treasuries are saying something too…
Commodities
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- Oil plunges to new five-year lows as IEA cuts demand outlook (Reuters)
- Record Oil Tankers Sailing to China Amid Stockpiling Signs (Bloomberg)
- Modi Wants More Diamonds Direct From Mines in Putin Proposal (Bloomberg) …Russia is a good place to get them…
- CGN Power Listing Taps into Expected Nuclear Sector Growth (Caixin)
- OPEC ‘powerless’ to halt oil slump without other producers’ help, warns former president (Financial Post)
- Oil price fall sparks market turmoil (FT.com)
Global Macro
- China Uses Development Bank Push to Become Banker to Emerging Markets (Caixin) …this is precisely what China will become…
- Why is Corruption More Prominent in Some Countries Than Others? (Economonitor)…or is it just better disguised?…
- Vinyl-record factories race to keep up with demand surge (Market Watch)
- The five best Wall Street trades of 2014 (Quartz)
- Charted: Adopting universal health coverage just makes economic sense (Quartz)
- Christine Lagarde warns US over IMF reform failings (FT.com)
And Furthermore…….
- Faster Growth Through Stronger Regulation (Project-Syndicate)
- How investors can play the war against ‘globesity’ (Financial Post)
- 122 Things Everyone Should Know About Investing and the Economy (Motley Fool)…worth a look…
- The Gift of Inside Information (NY Times)