Links 6 March 2013

Global Macro/Markets:

• The Dow Jones’s new high is fake – Washington Post
• The Last Time The Dow Was Here… – ZeroHedge
• State regulators want high-frequency trading probe – Reuters
• Why Don’t We Have Deflation? – New York Times
• Record highs and commodities writedowns – FT Alphaville
• More on the spot and forward price commodity disconnect – FT Alphaville

North America:

• A Private Boom Amid Detroits Public Blight – New York Times
• Dow record? Who cares? Economy still stinks! – – CNNMoney
• Quit Doling Out That Bad-Economy Line – Washington Post – Washington Post
• US was world’s largest petroleum producer in November, surpassing Saudi Arabia for first time in ten years – aei-ideas.org
• As Asking Home Prices Keep Rising, Inventory No Longer in Free Fall – Trulia Trends
• CoreLogic: House Prices up 9.7% Year-over-year in January – Calculated Risk
• New orders, exports help service sector grow in Feb: ISM – Reuters
• For the middle class, expenses grow faster than paychecks – CNNMoney
• Household income stuck at decade low – The Atlantic

Europe:

• Pound’s World-Worst Drop Seen Growing in Pimco Math: Currencies – Bloomberg
• EU Said To Weigh Extra Years For Irish Rescue Loans – Bloomberg
• Bank Lending to South Europe Is Fractured, Morgan Stanley Says – Bloomberg
• A wholly unregulated Libor, FSA edition – FT Alphaville

Asia:

• China’s 2013 targets, and what they (probably) mean – FT Alphaville
• China to Raise Budget Deficit by 50 Percent to Boost Demand – Bloomberg
• China’s debt and investment slow down: James Saft – Reuters
• China’s 2013 targets, and what they (probably) mean – Financial Times
• China’s growth: a bountiful half decade – Financial Times
• China’s property developers are on an ceaseless hunt for liquidity from any quarter they can get it – Financial Times
• BBC video shows smashed cars, pitched battle in S China village revolt – BBC
• The risky task of relaunching Japan – Financial Times
• North Korea to scrap armistice if South and U.S. continue drills – Reuters

Local:

• Lies, damn lies, and Labor – The Age
• Drive to lift dole work limits – The Australian
• The Budget is broken:BCA – The AFR
• Reality of housing market hits boomers – The AFR
• RBA quietly increases banks’ bailout buffer – The AFR. Moral hazard writ large.

Other:

• S&P Credibility Seen Eroded by Complicity in Soured Deals – Bloomberg
• How Lucrative Are Wall Street Jobs? – The Big Picture
• Buybacks, M&A, and de-equitisation – FT Alphaville