Links 20 September

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Global Macro:

North America:

  • Housing Starts increased to 750 thousand in August – Calculated Risk
  • Existing Home Sales in August: 4.82 million SAAR, 6.1 months of supply – Calculated Risk
  • Chart of the day, housing bubble edition – Reuters
  • Housing Rebounds, but Forward-Looking Indicators Cause Concern – Dallas Fed
  • So How’s That QE3 Working? « naked capitalism – Naked Capitalism

Europe:

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  • Deposit Flight From Europe Banks Eroding Common Currency – Bloomberg
  • Germany’s big worry: China, not Greece – Reuters
  • Euro-Zone Construction Falls – Wall Street Journal

Asia:

  • BoJ follows QE3 with fresh stimulus – Financial Times
  • Japan government could run out of money by end-Nov – finance minister – Reuters
  • Japan Eases Monetary Policy in Surprise Move – Wall Street Journal
  • China’s thermal electric power output fell 6.3% yoy in August – Also Sprach Analyst
  • Crowd attacks US ambassador in Beijing – The Telegraph
  • Central Banker Calls for Selling Bonds to Local Residents – Caixin Online – Caixin Online
  • BoJ increases its asset purchase programme – The Big Picture
  • FT Alphaville » The BoJ’s feud-driven asset purchase extension – Financial Times
  • BOJ eases policy as Japan’s recovery prospects fade – Reuters

Local:

  • BHP Says Pace of China Iron Ore Demand Has Slowed by Half – Bloomberg
  • Brace for lower living standards as terms-of-trade unwinds – Garnaut – AFR – Must read article
  • Raise GST – tax experts – AFR How about a broad-based land values tax instead?
  • Ratings agencies see downside in Fortescue deal – SMH
  • Mining boom to drag on Australian economy within 18 months – SMH

Other:

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  • Fire tornado captured on film in Australia – video – The Guardian
  • Asia’s millionaires outgrow those in N America – Financial Times