Links – Wednesday June 6

Here is some stuff Reynard the Fox found interesting today.

Global Macro:

• G7 must look beyond China for eurozone rescuer Reuters
• Falling oil prices are no mystery Bloomberg, WonkBlog
• Is global financial reform possible? Paul Volcker
• JPM faces $4.2 billion trading loss, ISI forecasts Bloomberg
• Cold water on QE3 ? Tim Duy

United States:

• ISM non-manufacturing index ticks-up a little in May Calculated Risk
• Bank of America’s Merrill scandal reignites CJR
• FedEx retires 24 jets to cut costs as U.S. shipments fall Bloomberg
• The real bombshell in the MF Global post mortem NakedCap
• The bullish case for the American auto market Fortune
• A marginal bet FTAlphaville

Europe:

• Spain says markets are closing to it as G7 confers Reuters
• Spain minister urges EU aid for banks in first plea for help Bloomberg
• Spain urges EU banking union, rules out wider bailout WSJ
• Berlin and EU weigh bank oversight Spiegel , WSJ
• Germany will save the eurozone: Ackermann Marketwatch , but not with Euro-bonds and just not now…
• Nien!, Nien! , Nien! Again Ambrose Evans-Pritchard
• Germany rejects direct bank aid for Spain FT, Independent UK
• Baby steps towards a EU bank union come too late for crisis Reuters
• Syriza not a threat to the Euro, say Syriza Ekathimerini
• German industry orders slump as foreign demand falters Reuters
• Is the time right for a Poland portfolio ? SmartMoney

Asia:

• Bad news piles up for China’s economy Bloomberg
• Japan lawmakers push to curb central bank WSJ
• Japanese manufacturers are reversing everything that made the country an economic powerhouse Business Insider
• South Korean president warns of slowing growth Yahoo
• See more China links in the daily “China Links” post from Sinocism

Local:

• Rate cut and more falls in the wings BusinessDay
• RBA’s hand forced by global risks Locked Cupboard
• More homes put up for sale SMH
• The mortgage sting Cupboard
• Qantas flies into the red SMH
• Economists expect below average GDP SMH
• Aussie rises after RBA cuts rate less than swaps suggest Bloomberg

Interesting/Other stuff:

• Banks weigh awkward truths on storage FT
• Unicredit’s former boss to stand trial for corporate tax fraud BBC
• The global obesity bomb BusinessWeek
• FailBerg keeps sinking ZeroHedge
• Where have all the bulls and bears gone, again. Big Picture
• Those dreaded bond vigilantes are coming! PragCap

And have a nice day!