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Stuff Reynard the Fox found interesting today.
Global macro:
- Moody’s to go after bank model arbitrage. Naked Capitalism Is Mega Bank worried?
- S&P warns on $46 trillion refinancing challenge. FT
- Sovereign currency issuers are always solvent. NEP Doesn’t mean you have no problems, however…
- In praise of dumb rules for banks. Felix Salmon Too right
United States:
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- How Wall St killed financial reform. Matt Taibbi
- Consumer sentiment up. Calculated Risk
- PPI down. Calculated Risk
- JPM on downgrade watch. Zero Hedge
- Treasury yields crumble. Zero Hedge
Europe:
- Schaeuble dares Greece. Bloomberg
- Fitch says that’s a bad idea, really bad. Zero Hedge
- Bundesbank to accept higher inflation. Der Speigel
- Banks prepare for return of the Drachma. Reuters
- How the dominos are set up for a Greek exit. Free exchange
- The contrarian case to buy Europe. Alphaville
- Buy Europe. Alphaville
Asia:
- China’s ugly banks. Bloomberg
- More China slowing. Sober Look
- China data raises growth fears. FT Well, der. Burst a property bubble and guess what?
- China April steel production up. BW
- Indonesia booms on. Bloomberg
Local:
- Behind the billionaire blowhard. SMH
- The tricks of the Budget. Ross Gittins
- Taxi drivers are better than the ABS. Jessica Irvine
- Poll points to Labor rout. The Age
- Kloppers to focus on shareholder returns. AFR In other words, super cycle is over.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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