Links 29 January 2013


Here’s a list of things Reynard read over the long weekend.

Global Macro:

North America:


  • Euro periphery draws back €100bn – Financial Times
  • Euro Crisis Seen Reaping Social Toll With Record Jobless – Bloomberg
  • New Bank of England head Mark Carney hints at big shift in policy – The Guardian
  • Carney rejects King and supports the Fed doves – Financial Times
  • Carney willing to take more activist stance – Financial Times
  • A declining but distorted euro M3 – FT Alphaville
  • Britain caught in the mire of its own policy failure – Bill Mitchell
  • Is Britain in a depression because it slashed public investment? – The Atlantic


  • China’s brokerages turn shadow banks – Financial Times
  • In China, shadow financing via brokerages appears to have risen 600% in 2012 – Financial Times
  • Japanese doomsday alert. Why this time you need to care – Euromoney
  • China set for “major crisis” within the next decade –
  • Aussie firms ramp-up Chinese ventures – The Australian


  • Iron ore price shocks a big deal for economy – Adelaide Now
  • Banks laughing all the way to the… bank – The SMH. Covered bonds reducing bank funding costs.
  • No slices too deep or shallow for Abbott’s razor – The SMH
  • Coal supplies hit by trains – The SMH
  • Voters send Labor packing: Poll – The AFR
  • Treasury secretary slams door on GST reform – The AFR
  • Business feels carbon tax impact – The AFR
  • Coalition courts private funding for big projects – The AFR
  • Fight to keep out unions – The Australian



  1. Aussies take frugal approach, pay off debt

    “AUSTRALIANS appear to be swapping credit for savings, with a recent study showing intention for taking on debt at a three-year low.

    Dun & Bradstreet’s Consumer Credit Expectations Survey, released today, shows only 18 per cent of respondents plan to increase their debt in the coming months.

    That expectation for the March quarter is down from 22 per cent in the December quarter, and 26 per cent in the three months to September.”