Links 9 May 2013

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Global Macro/Markets:

  • The most important story in global economics nobody is paying attention to – Washington Post
  • Why Old Hedge Fund Managers Hate Bernanke – Business Insider
  • Difference Between Trading And Economics – tumblr.com
  • Inflation is falling everywhere – Financial Times
  • Avg. Junk Bond Yield Falls To 4.97% – Income Investing – Barron’s
  • OTC derivatives market activity in the second half of 2012 – BIS
  • Are Stocks Cheap? A Review of the Evidence – Liberty Street Economics – New York Fed
  • Hedge Funds Rush Into Debt Trading With $108B as Banks Trim Risk – Bloomberg
  • Bears Keep Distance From Great White Short – Wall Street Journal
  • A Big Red Panic Button for Stock Exchanges – CNBC

North America:

  • Freddie Mac posts second biggest profit in its history in first quarter – Reuters
  • Americans Are Borrowing Again but Still Less Than Before Freeze – Wall Street Journal
  • Stock Markets Rise, but Half of Americans Don’t Benefit – New York Times
  • The Dwindling Deficit – New York Times
  • U.S. Stock Ownership Stays at Record Low – gallup.com

Europe:

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  • Introductory Statement by Joerg Asmussen on Assistance to Cyprus – ECB
  • The German model is not for export – Financial Times
  • An outbreak of frugality across the eurozone – Financial Times
  • Call for Europe to Cut IMF Out of Bailouts – Wall Street Journal
  • Doomed Europe – Reuters
  • European banking union? Don’t hold your breath – Reuters
  • Britain should worry about its own currency union – Financial Times

Asia:

  • Analysts frantically revising Japanese corporate earnings projections – Sober Look
  • China cuts ties with North Korea’s main forex bank – scmp.com
  • Japan Corrects GDP Figure After Economist Points Out Error – Wall Street Journal
  • Bass’s ‘Japanese Finance Minister Index’ – Business Insider
  • Three out of five of Chinese multi-millionaires want to leave the country – Quartz
  • Roubini Global Economics – How China’s Credit Boom Will Bust – roubini.com

Local:

  • Rate cuts should mean property price growth – The AFR
  • ANZ executive says record high share price is not sign of bubble – The AFR
  • Lowering GST on imports could raise $2.5 billion – The AFR
  • Monetary guru warns of currency danger – The Australian
  • Single parent families growing strong – The Australian

Other:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.