Links 26 May 2013

Global Macro/Markets:

• Gold Was A Horrible Investment from 1500 to 1965 – Matthew O’Brien – The Atlantic
• Cash hard to raise as Fed jars credit markets – Reuters
• Exit From the Bond Market Is Turning Into a Stampede – New York Times
• Financial imbalances and cycles: Do they matter for the general public? – VOX

North America:

• Two Fed Presidents Emphasize Stimulus to Persist After QE Taper – Bloomberg
• Home Prices Rising Faster in Cities than in the Suburbs – Most of All in Gayborhoods – Trulia Trends

Europe:

• German Chancellor Merkel Cools on European Integration – Der Spiegel
• Interview with Cypriot President Nicos Anastasiades – Der Spiegel
• ECB: Stable Euro, Strong Europe – European Union
• Anglo-Irish Picked Bailout Number “Out Of My Arse” To Force Shared Taxpayer Sacrifice – ZeroHedge
• Anglo Irish tapes: Executives deny misleading authorities – BBC
• Behind the banter and bravado, this was an enormous fraud on us all – independent.ie

Asia:

• Good explanation for tight interbank liquidity conditions in China – finally – Sober Look
• PBOC Addresses Cash Crunch – Wall Street Journal
• PBOC Opaque Stress Test Catches Funds in Crossfire – Bloomberg
• China stocks enter bear market amid credit fears – BBC
• Asian Stocks Fall as China Sinks Deeper Into Bear Market – Bloomberg
• Chinese buyers flee Hong Kong for overseas property markets – Reuters
• PBOC Says It Will Ensure Stability of China Money Market – Bloomberg

Local:

• Margin calls increase after market correction – The SMH
• Australia keeps the population ponzi going strong – Breaking Travel News
• Two ends of town telling different tales – The SMH

Other

• Warming oceans make parts of world ‘uninsurable’, say insurers – Financial Times
• Labor’s Declining Share Is an International Problem – New York Times