Links – Friday June 8

Here is some stuff Reynard the Fox found interesting today.

Global Macro:

• PBOC surprises with a cuts 25bps Reuters, Bloomberg
• BOE holds Reuters
• Spain downgraded to BBB as Fitch predicts slump through 2013 Bloomberg, that is 3 notches.
• Spanish Borrowing Cost Tops 6% at 10-Year Bond Auction Bloomberg
• But French yields hit record lows Reuters, even as unemployment keeps rising
• Bernanke finely balanced on more stimulus FT. Gold didn’t like the speech Financialpost

United States:

• Weekly claims up 377K, last weeks revised up to 389K CalculatedRisk
• No Jackson hole Tim Duy on Bernanke’s testimony.
• Yellen’s Speech from yesterday The Fed more from Reuters
• Fed’s Williams: Monetary Stimulus ‘Crucial’; More Could Be Warranted WSJ
• Fed risks diminishing returns with more QE FT
• Federal Reserve set to unveil capital proposals FT
• Group of senators work to avoid year end fiscal cliff Bloomberg

Europe:

• Merkel Backs Two-Speed Europe With Core Euro In Poke At Cameron Bloomberg
• But she lowers expectations of a swift resolution yet again Spiegel
• New risk to European growth as banks cut lending to cities WSJ
• More on the EU Plan for Spanish Banks Brussels Blog . hmmm.. Time to re-read those EFSF docs
• Cleaning Up the Mess: What to Do About Teetering Eurobanks? NakedCap
• Crisis doubts take root among German firms Reuters
• Greek unemployment rate by age Scott Barber
• UK Services PMI still solid Markit
• Irish unemployment rises to 14.8% RTE News
• The German response Martin Wolf

Asia:

• PBOC didn’t just cut rates…. China eases grip on bank deposits Reuters , Business Insider
• Japan’s LDP Agrees to Talks With Noda’s DPJ on Sales Tax BusinessWeek
• Korean buying spree boosts brent price FT
• China CIC Chief Sees Rising Risk Of Euro Breakup WSJ
• China on the launch pad Project Syndicate
• Get more China links in the daily post from Sinocism

Local:

• Thousands of jobs face axe in NSW SMH
• Housing proves to be the nation’s achilles heel Jessica Irvine
• Three step strategy for growth Locked Cupboard
• RBA sets clock for real-time interbank transfers AFR
• Suncorp deal linked to warren buffet BusinessDay
• Data is obscuring the real threat to Australia AFR

Interesting/Other stuff:

• The Maastricht Treaty Could Make a Huge Difference to their Lives MMR
• Theses lunatics actually won seats in the last Greek election ZeroHedge
• Argentina’s President Fernandez stops saving in dollars BBC
• Hopium PragCap
• LinkedIn hacked Linkedin
• Krugman stirs twitter-rage from Estonia’s president New Statement
• An end to ‘too big to fail’ Washington Post
• Hedgies re-position on the long bond FTAlphaville
• Twitter’s mobile revenue surpassed web on many days Reuters

And have a nice day