Global Macro:
- Former UBS chief doubts criminal intent over Libor (Reuters)
- Libor design flawed says Geithner (BBC News)
- Since 2012 Is 2011, What Comes Next Is Not Pretty…(Zero Hedge)
North America:
- Break Up the Big Banks (CNBC)
- Sales of New U.S. Homes Unexpectedly Fall From Two-Year High (Bloomberg)
- The U.S. Debt Load: Big and Cheap (Wall Street Journal)
- New Home Sales declined in June to 350,000 Annual Rate (Calculated Risk)
- Fed Sees Action if Growth Doesn’t Pick Up Soon (Wall Street Journal)
- Canadian house prices headed for a 25% crash (Financial Post)
- US economic arsenal is empty: Volker (AFR)
Europe:
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- A rapid fall in the Euro can save Spain (Financial Times)
- France is a lot like Greece (FT Alphaville)
- German Press on Moody’s Cut to German Credit Outlook (Der Spiegel)
- Euro Zone as we know it has two years left (CNBC)
- Britain’s recession: Britain shrinks again (The Economist)
- The euro zone crisis: The bearish case for bunds (The Economist)
- Can a real central bank save Europe? (Reuters)
- Spain to struggle to fund 2012 debt crunch (Reuters)
- French jobless total close to 13-year high (Reuters)
- VIDEO: Why are the UK GDP figures so bad? (BBC News)
- The EZ crisis is once again on the march (Pragmatic Capitalism)
Asia:
- China May Refrain From More Easing, IMF Official Says (Zero Hedge)
Local:
- RBA has room to cut rates (AFR)
- Economy in great shape but vigilance required (AFR)
- Inflation slowdown not enough for rate cute (AFR)
- FTA can’t be relaxed for China, says Emerson (AFR)
- Fears about over-density on the rise (The Age)
- Aus governmen’s borrowing costs cheapest in a century (The Age)
- States at war over GST overhaul (The Australian)