Global Macro
- Pension funds invest too much in bonds, but for more than one reason. Buttonwood
- News International chief quits, Murdoch empire set to split. Telegraph
- Delta to buy Singapore’s stake in Virgin Atlantic? As asked recently in Macro Investor, are airline wars heating up? DealBook
- Why shale success is unlikely to be replicated outside the US. Wall Street Journal
- Turkey requests Nato defences on Syria chemical attack fears. Guardian
North America
- US property is now the ‘big long’. The Economist
- America’s Thelma and Louise moment. Edward Luce
- Indeed, fiscal cliff negotiations are at yet another stalemate. Washington Post. Expect a lot more headlines like this over the next month.
- What’s Romney been up to since the election? Not much. Washington Post
- ISM into recession. Calculated Risk
- Construction spending rises. Calculated Risk
Europe
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- Europe’s timid budget. The Economist
- But an (admittedly small) case for Euro optimism. John Dizard
- George Papandreou’s mum and a €550 million Swiss bank account. Telegraph
- What will happen after the German elections? Wolfgang Munchau. Answer: nothing.
- French firms must fight China for stake in Africa: Moscovici. Reuters
- Iceland said to require Chinese tycoon to reapply for resort permission. Reuters
Asia
- Sizing up China’s shadow banking sector. Simon Rabinovich. “UBS economist Wang Tao believes it is no smaller than Rmb13.6tn ($2tn), or about one quarter of this year’s gross domestic product, and could be as big as Rmb24.4tn, or nearly 50 per cent of GDP.”
- The very monetary reasons behind political interest in Japan. Gavyn Davies
- Forget the good services PMI, China is losing its appetite for fried chicken and pizza, Yum Brands tanks. Wall Street Journal
- Rehabilitating China’s Loess Plateau. Permaculture News. This could be a breakthrough.
Local
- Rosella sauce bites the dust! The Australian. It’s definitely on for a rate cut then.
- Even Michael Pascoe calls for a cut. The Age
- Meanwhile, the worries go global: Australia’s LNG industry plagued by bottlenecks, labour costs, strong AUD. Financial Times
- Non-rates/data news #1: CIMB in talks with big four for first Aussie Islamic bond issue. Deal Journal Australia
- Non-rates/data news #3: Government rules out lowering online GST threshold. The Australian
- Non-rates/data news #4: Woodside expands offshore… to Israel. Business Day
- Regional unis and putting the ‘country’ back in the clever country. David Battersby
Interesting/Other
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- Will philanthropy save Britain’s universities? Aeon
- Can this Sino-Finnish start-up really challenge the iPhone/Android duopoly? Quartz
- Wan ‘Broken Tooth’ Kwok-koi released from Macau jail. Financial Times