Links 16 July 2012

Global Macro/Markets:

• Hedge Funds Bought Gold in Biggest Rally Since 2011: Commodities – Bloomberg
• Gold Extends Best Week Since 2011 as Stimulus Seen Sustained – Bloomberg

North America:

• Finance set to surpass tech as most-profitable U.S. industry – USA Today
• Improving Access to Refinancing Opportunities for Underwater Mortgages – New York Fed
• Housing Listings Multiply in June – Wall Street Journal

Europe:

• Analysis: France looks for a mellower Merkel post-election – Reuters
• Redesigning the ECB – VOX
• Goldman Sachs Questions German Corporate Spending Decline – Wall Street Journal
• Greeks Wait Tables and Hope for Economic Dawn – Bloomberg

Asia:

• Japan’s stagnation: demand-side or supply-side? – Noahpinion
• China Wealth Eluding Foreigners as Equities Earn 1% for 20 Years – Bloomberg
• NOMURA: Chinese Growth Will Fall Below 7% Next Year – Business Insider
• The China slowdown, in numbers – Financial Times
• Scary China Charts – Business Insider
• Moody’s changes Singapore’s banking system outlook to negative – Moody’s
• Here Comes The Hardest Challenge Yet For Abenomics – Business Insider
• Even as election spells Japan PM win, big reform may lose out – Reuters
• Japan PM Shinzo Abe on track for hefty election win: polls – Reuters
• China’s central bank chief says growth under downward pressure – Reuters
• Heard on the Street: China’s Economy Is Slow and Unbalanced – Wall Street Journal
• Singapore housing bubble to burst when U.S. rates increase – CNBC

Local:

• Barnett dismisses US gas revival – The AFR
• Abbott mocks ETS – The Australian

Other

• There Is No “True” Unemployment Rate – New York Times
• Pseudo-flexible exchange-rate regimes – VOX