Afternoon with Gin Fizz, 1961, Elisabeth Cummings, Art Gallery of NSW
China:
- Canary in the Hong Kong housing market? Why one Mid-Levels mortgage default is a case study in financial engineering – SCMP
- China’s Stocks, Bonds, Yuan Are a Triple Losing Bet This Month– Bloomberg
- China’s Central Bank Raises Yuan Fixing by Most Since July 2005– Bloomberg
- China’s robot revolution– FT
- These 4 maps show how China is dominating global trade– Business Insider
- Chinese Oil’s Inconvenient Truth– Bloomberg
- Hong Kong’s repo man is back at work in the property sector, as harsh economy and falling house prices fuel surge in foreclosures – SCMP
- Sincere’s journey from Australian inspiration to first Chinese-owned department store in Hong Kong – SCMP…nice read…
- China to Consider Starting Trading of Credit-Default Swaps– Bloomberg
- Independence catching on among Hong Kong’s youth – Nikkei Asian Review
- Chinese cities dive back into debt to fuel growth even as defaults rise – Reuters
- China: Corporates face toxic threat of debt – Euromoney
- China passes tough law against foreign nonprofits – Market Watch
- Country Facing ‘Unprecedented Problem’ Storing Extra Grain, Official Says – Caixin
- China Said to See ‘Record Number’ of Financial Scams Cases in 2015 – Caixin
- Heilongjiang Says It Will Subsidize Homebuyers to Spur Demand – Caixin
- Hong Kong Negative Equity Mortgages Jump 15 Times as Prices Drop – Bloomberg
- ICBC Breach of Bad-Loan Buffer Shows China Banking Stresses – Bloomberg
- Debt, not reserves, to constrain China’s cross-border buying spree – Bruegel
- Hong Kong’s de facto central bank warns fund outflows will come ‘sooner or later’ – SCMP
- Tightened home loan measures in Shanghai fail to deter banks from expanding mortgage loan business – SCMP
Asia:
- Japan’s Abenomics ‘dead in the water’ after US currency warnings – Telegraph, AEP
- Bank of Japan stands pat as Abenomics stumbles – Telegraph
- Bank of Japan Stuns Markets by Holding Its Fire– WSJ
- EU parliament hosts Russian propaganda circus– EU Observer
- India Installs ’Laser Walls’ at Border With Pakistan– NBC News
- The Feud at India’s Central Bank– WSJ
- Taiwan economy shrinks for third consecutive quarter on weak exports – Nikkei Asian Review
- Saudi economic reform plan is bound to fail – Market Watch
- Singapore property may be heading for long-term drop in value – Business Times
- Japan’s Economic Quandary – Project-Syndicate
- India Releases Tax Data Heeding Piketty’s Call for Transparency – Bloomberg
- Bank of Japan Finds It Can’t Win – Bloomberg
Europe:
- Europe Hangs On in Modest Recovery – NY Times
- Euro zone data deluge: Better-than-expected growth, but we’re back in deflation – CNBC
- Rate of Russian early repayment of credits doubles as incomes improve – BNE Intellinews, Aris
- Euro zone economy accelerates, but prices fall more than expected – Reuters
- The importance of better EU insolvency regimes– VoxEU
- Belgian police knew since 2014 that Abdeslam brothers planned ’irreversible act’– Politico
- Yanis Varoufakis: Bailouts of Greece are Pretense for Massive Payout for German and French Banks– democracynow.org
- Finnish parliament, pressured by weak economy, debates euro exit– Reuters
- Safeguarding the Euro – balancing market discipline with certainty – VoxEU
- The Knowns and Unknowns of the European Competitiveness Debate – Economonitor
- More bear than bull: Russian central bank remains cautious – CNBC
- As Russians Struggle to Pay Bills, Debt Collectors Mimic the Mob – NY Times
- The 6 Countries That Tell the Story of Europe’s (Still Shaky) Recovery – NY Times
United Kingdom
- House prices fall almost everywhere as property market takes on ‘uncomfortable’ feel – Telegraph…get the popcorn…
- Pro-Brexit economists hail benefit of scrapping EU tariffs and rules– Reuters
- Renting in London is more expensive than living in most European 4-star hotels– The Independent
- Consumer confidence in UK at lowest level in 15 months, survey suggests – Guardian
- ‘Brexit’ is the last thing Europe needs right now – SCMP
- Consumer ‘depression’ mounts over uncertain economy – Telegraph
- The City must urgently tackle its pay crisis or else the Government will step in – Telegraph
- The economic impacts of Brexit: Results from a meta-analysis – VoxEU
United States:
- U.S. economy stalls in first quarter as activity weakens broadly– Reuters
- US interest rates: Merle Hazard tries to cheer up Fed watchers – Guardian
- Sluggish US growth forms part of a worrying global trend – Guardian
- With varying enthusiasm, GOP elites are accepting Trump as their nominee– Washington Post
- US economy grinds to near-halt – Telegraph
- Trump’s incoherent, inconsistent, incomprehensible foreign policy– Washington Post
- Teen birth rate hits all-time low, led by 50 percent decline among Hispanics and blacks– Washington Post
- Big business fears campaign-trail criticisms putting policy priorities at risk – Washington Post
- Mortgage rates wander upward but may be headed back down – Washington Post
- America’s great housing divide: Are you a winner or loser? – Washington Post
- Is Ted Cruz Lucifer? We Asked A Satanist– Huffington Post
- Trade with China is a big reason why US politics are insane– Quartz
- President Obama Weighs His Economic Legacy – NY Times
- Fed’s Kaplan says he will advocate for raising interest rates gradually – Reuters
- Alaska’s oil bust results in crude reality for state budget – CBS
- America’s Trade Deficit Begins at Home – Project-Syndicate, Roach
- This Economy Isn’t Too Disappointing – Bloomberg
- The Impossibility of Reviving American Manufacturing – The Atlantic
- Too Many Elite American Men Are Obsessed With Work and Wealth – The Atlantic
- The Two Contradictory Ideas Many Americans Have About the Economy – The Atlantic
- The Line That May Have Won Hillary Clinton the Nomination – Rolling Stone, Taibbi…good read…
Americas:
- Washington Still Haggling as Puerto Rico Debt Deadline Looms – NY Times
- Brazil at the Crossroads – Economonitor
- Venezuela’s Government Just Instituted a Two-Day Workweek, Because It Needs to Save Electricity – Slate
- Vancouver housing a hit on Chinese-language app – Vancouver Sun…and the Australian app?…
- Brazil Has More Downside Risk Than Upside – Value Walk
Terra Specufestorus
- The paradox of Turnbull and the budget – ABC, Barrie Cassidy…superb read, he nails the complete surreal quality of what is unfolding before our eyes…
- Think the RBA will cut rates on budget day? Don’t be so sure – ABC
- LJ Hooker real estate agents under investigation over missing client money, six branches shut down – ABC
- Australia joining low inflation world – ABC
- Kidman sale ‘contrary to national interest’ – The AFR
- Alan Mitchell: Buy SA votes with French subs – The AFR
- Turnbull now on talking terms with Abbott – The AFR
- High land prices killing tech start-ups– The AFR
- ‘Signs of life’ as term deposit rates rise – The AFR
- Budget tax cuts key for corporate Aust– The Australian
- Turnbull defends negative gearing, says critics in ‘cloud-cuckoo-land’– The Australian
- Moody’s warns of banking risks– The Australian
- Surgeons ripping off private patients – Canberra Times
- Morrison blocks Chinese land bid – Canberra Times
- Labor’s plan for cheaper loans revealed – Canberra Times
- Our monstrous policy failure – Canberra Times
- Senate cull won’t fix Turnbull’s woes – The Age
- Aussies back more tax if it boosts health – The Age
- Game of homes: Housing looks like child’s play but it’s not – The Drum
- Lift geoblocking as ‘frustration’ drives illegal downloads, Productivity Commission finds – Guardian…yep…
- Timeline: banking scandals in Australia since 2009 – Guardian
- How negative gearing replaced the great Australian dream and distorted the economy – Guardian, Jericho… good very but UE and HnH have been pointing this out for a long time…
- Australian treasurer overrules sale of 1.3% of country to Chinese firm – Guardian
- Public service faces biggest workplace shake-up in decades under Coalition plan – Fairfax
- Too big for sale: Scott Morrison reads the politics on Chinese land grab – Fairfax…and the politics of housing and Chinese buyers?…
- Sinodinos could face range of punishments over refusal to front inquiry – Fairfax…Artie needs a slap…
Writers and publishers voice opposition to new copyright proposals – Fairfax…there is almost no point in being a writer in Australia…
Federal government shakes up vocational education – Fairfax - Six Melbourne LJ Hooker estate agency offices suddenly close – Domainfax
- ACTU backs tax crackdown on rich, multinationals to help save $128b – Fairfax
- ‘Signs of life’ as term deposit rates rise – Fairfax
- If former Apple shareholder Carl Icahn is worried about China, should we be too? – Fairfax
- Game of homes: Housing looks like child’s play but it’s not – ABC
- Negative gearing helps low-income people most, but that’s besides the point – ABC, IPA man
- Morrison’s ruling on Kidman & Co sale redefines the national interest test – The Conversation
- Government ignores elephant in the room in response to online gambling review – The Conversation
- Productivity Commission’s recommendations on IP reform likely to be lost in election haze – The Conversation
- Deloitte projects $129 billion four-year cumulative deficit, proclaims ‘a revenue problem’ – The Conversation
- Negative gearing windbacks could deliver $5.3bn a year: Grattan – The Conversation
- Commodity prices boosted by speculation – Callam Pickering…good read, this will be one of the critical bullshido points of this weeks budget….
- Lending & credit figures point to moderation – Callam Pickering
- A cheat sheet for reading the federal budget – The Conversation
- The future employment prospects for younger workers is much better than we think – Fairfax, Gitto….maybe, but there isn’t much sign of that future in the present for far too many…
- Australia rejects massive Kidman farmland sale to China – Nikkei Asian Review
- How investors outgun first home buyers – Fairfax…very good read…‘When my partner and I were trying to buy our first home in Sydney in 2014, we were the under-bidders at half a dozen auctions. Every single time, we lost to an investor. You could spot them a mile off – middle-aged, mostly white, no small children in tow, well dressed, nice car.’
Commodities
- World Bank lifts oil price forecasts but warns of further pain – Telegraph
- Boone Pickens says America’s oil industry is ‘dead in the water’ – Washington Post
- China steel commodities rebound; enough rebar to build 15,000 Golden Gate Bridges – Reuters
- Commodities prices are stumbling toward ‘normality’ – Nikkei Asian Review
- How Shanghai trading is changing the physical nickel market – Reuters
- U.S. grain market to stay on wild ride this year? – Reuters
- Saudis to push oil output higher but won’t flood market: sources – Reuters
- China securities regulator orders major commodities exchanges to control futures speculation – sources – Reuters
- Unsold crude at sea raises warning flag to oil price bounce – Reuters
- Against the tide: Gold is back – Euromoney
- Analysts Just Aren’t Buying the Oil Rally — Energy Journal – WSJ
- In Hunt for Solution to Too Much Natural Gas, Suppliers Weigh Creating Demand – WSJ…maybe they could just flare off Australia’s white elephants…
- The U.S. Is Sitting on a Mountain of Cheese – Bloomberg
- Rio Tinto’s Former Chief Calls the Bottom for Commodities – Bloomberg
- World grain stocks to hit record levels next season – Agrimoney
- Chinese dairy demand rallies, world production stabilises – Agrimoney
Capital Markets
- Japan insurers flock to foreign bonds as BOJ kills golden geese – Nikkei Asian Review…why not sell them some Australian infrastructure bonds?…
- US banks: Goldman Sachs the biggest loser on Wall Street – Euromoney
- Fighting deflation with unconventional fiscal policy – VoxEU
- Central Banks Aren’t Following The Script, So Peak Divergence Will Have To Wait – WSJ
- ETF pioneer raises doubts about funds he promoted – Global & Mail
Global Macro
- Currency Trading’s 20% Drop Raises Specter of Flash-Crash Future– Bloomberg
- Dow Suffers Biggest One-Day Loss Since February– WSJ
- Trilateral bloc could defend a fraying liberal order – Nikkei Asian Review…not without economic growth…
- Panama Papers reveal dubious wealth of dictators, cronies – Nikkei Asian Review
- Why Is Productivity So Weak? Three Theories – NY Times
- Fiscal policy remains critical for much of the world economy – VoxEU
- Shock transmission through the global banking network – VoxEU
- Why Brexit could give the Fed pause – CNBC
- The People’s Verdict on Globalization – Economonitor
- Managing Debt in an Overleveraged World – Project-Syndicate
- Why Are Central Banks on Trial Again? – Project-Syndicate…because punters think they are pawns of the uber set…
- How to Say ‘Privacy’ in U.S. and UK English – Bloomberg
- Crispin Odey: China Bank Loans = Spain 2007 – ValueWalk
- Four Maps Showing China’s Rising Dominance In Trade – Value Walk
- Six maps that will make you rethink the world – Washington Post
- Dallas Fed cautions on fresh oil bubble as glut keeps building – Telegraph, AEP
- DRAM prices still falling, but NAND prices may hit bottom in 2016 – Nikkei Asian Review
- Resource plunge puts African nations on verge of debt crisis – Nikkei Asian Review
…And furthermore…
- Why birthplace matters so much– VoxEU
- The Day Prince’s Guitar Wept the Loudest– NY Times
- How to measure prosperity– The Economist
- Tony Blair courted Chinese leaders for Saudi prince’s oil firm – Guardian
- Really successful people who were caught lying on their CVs – Telegraph…is spectacularly common…
- U.S. judge asked to recognize Klingon as real language – Financial Post
- How unionized employees’ rights differ from those of their non-unionized peers – Financial Post
- The next Chernobyl may be intentional – Reuters…disturbing thought…
- Should you open Goldman Sachs savings account now that they’ll take our plebian deposits? – Market Watch
- Unmasking the Men Behind Zero Hedge, Wall Street’s Renegade Blog – Bloomberg
- The Mistake That Separates Most Traders From the Pros – Bloomberg
- Is Fintech – Finally – Gaining Ground? – ValueWalk
- Why Are Your Gut Microbes Different From Mine? – The Atlantic
- Genetically Modified Mosquitoes: What Could Possibly Go Wrong? – The Atlantic
- Killer Robots? Lost Jobs? – Slate
- Microsoft executive believes artificial intelligence ways away from replacing human intelligence – SCMP
- Celebrate that college choice — but consider the debt – Washington Post
- Why That Salesperson Just Won’t Stop Emailing You – Priceonomics…well worth a look…
- Soccer’s Most Remarkable Season – NY Times…regardless of whether you like soccer or not, what Ranieri and Leicester City have done this season is nothing short of legendary and inspiring…
- US interest rates: Merle Hazard tries to cheer up Fed watchers – Guardian & …and for some thigh slappin’ toe tappin’ cogitation on the Global Macro….Merle Hazard
and if that isn’t your taste try this….
Saint Saëns Symphony No 3 in C minor, Op 78, Järvi
…spiritually uplifting…
And finally a gift to the MacroBusiness punting masses from subscriber, David.
The MB Comment Sidebar – Works with Chrome based browsers
Well, after some more polishing and some very valuable review and input from a fellow member here, I’ve got something that you might find useful. You can get it here.
This is a tool intended to enhance the comments section of the Australian economic blog https://www.macrobusiness.com.au. I am not affiliated with macrobusiness in any way and this extension is not endorsed or recommended by the site’s owners or administrators. I am a member of the site (a subscriber). This extension only affects pages from the https://www.macrobusiness.com.au domain and it works by altering the way the information is displayed in your browser.
This extension will add a sidebar on the right hand side of any article that is opened on macrobusiness. The sidebar will contain the comments for that article listed in chronological order from newest at the top to oldest at the bottom. The sidebar can be collapsed by clicking on it and re-enlarged by clicking again on the collapsed bar. The sidebar shows the comment author, the approximate elapsed time since the comment was made, and the first 50 characters of the comment. The ‘author’ part is a link which will lead directly to the comment.
By clicking on the “M” icon at the top, a user can also create a ‘favourites’ list of commentators whose comments will be highlighted. Type the name of a commentator in the ‘Member name’ box and click ‘Add name to favourites’. Any comments by members listed as favourites will be highlighted in the side bar in bold pink text when the comment is by that user. Names can be removed from the favourites list by first clicking ‘View highlight list’ then clicking directly on the name to be removed. If no names are added to the highlight list all comments will have the same appearance.
Thank you David, I reckon quite a few MB readers and subscribers will find that a useful tool.