Global Macro:
- Investor trauma and the recency effect – Abnormal Returns
- Generational Warfare – National Journal
- Commodity markets have been financialised – BI
North America:
- UE in US falls to 4 year low – Businessweek
- Good jobs report was bad – BI
- Jack Welch genuinely thinks the jobs data last night was tricked up – Bloomberg
- Canadian job growth surged – Bloomberg Yep they must have cooked the books too Jack!
- US deficit $1 trillion again – CNN
- Unprecedented empty homes in the US – Reuters
- housing big drag on growth – Fed via Reuters
Europe:
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- Bill Gross buys Spanish and Italian bonds – WSJ
- Anti-austerity protests in Italy – UK Tele
- Private sector not interested in Spains “bad bank” – Reuters
Asia:
- John Garnaut on China’s economic future in the SMH Five dud years ahead!
- Iran and its currency spiral – qz.com
- US Congress putting its foot on Iran’s throat – Reuters
Local:
- “up to two-thirds of the nation’s 950 planned and current resources and infrastructure projects may not be realised” – ANZ via the Oz. The little birdies of MB have been warning about this for ages.
- BOQ to post first bank loss in 20 years – Sky. Nothing to see here, move along the economy is going great.
- Gittins – Money chain rests on trust
- Glenn Stevens switches to plan B – AFR
- RBA to drop rates further – ABC
Other:
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- Racing star could prove Einstein’s theory – ABC