Links 4 July 2013

Global Macro:

• Manufacturing picks up around the world, except in China – Financial Times; Twitter Pic
• The impact on the financial sector of long-term low nominal-interest rates – VOX
• Investors pull $9.9bn from Pimco fund in June – Financial Times
• Pimco Bond Fund Sees Record Outflows – Wall Street Journal
• Nowhere to Hide in Worst Bond Losses Since 2008: Credit Markets – Bloomberg

United States:

• The New Economics of Part-Time Employment – New York Times
• Federal Reserve Board approves final rule to help ensure banks maintain strong capital positions – Federal Reserve
• Big U.S. Banks Face Tougher Standards – Wall Street Journal
• U.S. Banks Facing Interest-Rate Risks – Bloomberg
• Unemployment Rate Still Above 10% in 27 US Metro Areas – Wall Street Journal

Europe:

• France’s bashing of Brussels signals worries at home – Financial Times
• ECB: Review of the international role of the euro – European Union
• Banks go on offensive over capital levels – The Guardian
• Bank of England condemns lobbying by banks against new rules – The Guardian

Asia:

• China reform push means June turmoil may be just the beginning – Reuters
• China’s curb on credit growth spells trouble – Financial Times
• Chinese credit: Look both ways – The Economist

Local:

• NAB sues Squid over “toxic assets” – The AFR
• WA cries poor over GST cut – The AFR
• Infrastructure Australia picks priority projects – The AFR
• The frail state of family business – Business Spectator

Other:

• ‘Annoying Anti-Fiscal Stimulus Arguments’ – Economist’s View