Links 7 June 2013

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Global Macro/Markets:

  • Emerging markets displace Europe as fulcrum of world risk – The Telegraph
  • Why Markets Have Been Rallying While Commodities Have Been Tanking – Business Insider
  • BIS warns of dangers of cheap money driving up stock prices – Financial Times

North America:

Europe:

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  • ECB: Monetary policy decisions – ECB
  • French jobless rate climbs to highest level in 15 years – BBC
  • IMF to Admit Mistakes on Greece Bailout – Wall Street Journal
  • EU Hits Back at IMF Report – Wall Street Journal
  • Eurozone crisis live: EC rejects criticism over Greek bailout – The Guardian
  • The IMF Admits Serious Mistakes on Greek Bailout – Der Spiegel
  • BoE leaves asset-buying total, rates unchanged – Reuters
  • IMF Says Greece May Need Faster Debt Relief, Cites Own Mistakes – Bloomberg
  • France should copy Germany’s reforms to thrive – Financial Times

Asia:

  • Asian Stocks Slide to Lowest Since January on U.S. Data – Bloomberg
  • China’s sense of superiority and injustice is a potent mix – Financial Times
  • Abe unveils ‘third arrow’ reforms of low tax and deregulation – Financial Times
  • China’s State Sector Strikes Back – China Real Time Report – Wall Street Journal

Local:

  • Why the consumer has not reacted to rate cuts – Equilibrium Property
  • Real estate agents’ tricks now open for inspection – The SMH
  • Treasury has no idea. AFR
  • That crazy Kouk nut. BS

Other:

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  • Why capital gains should be taxed as income – Reuters
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.