Links 15 August 2013

Global Macro/Markets:

• Dalio Patched All Weather’s Rate Risk as U.S. Bonds Fell – Bloomberg
• Fed to Keep Funds Rate on Hold Longer Than Forecast, Gross Says – Bloomberg

North America:

• Yellen Beats Summers as Most Likely Fed Chair in Economists Poll – Bloomberg
• San Francisco split by Silicon Valley’s wealth – LA Times
• With So Many Job Openings, Why So Little Hiring? – Bloomberg
• Household Debt and Credit Report – New York Fed
• Fiscal divisions on Capitol Hill prompt Fed tapering concerns – Financial Times
• Turn Up the Gas on Mexico’s Energy Revolution – Bloomberg
• Credit as percentage of banks’ balance sheets lowest in 40 years – Sober Look
• Why U.S. Workers Are Getting Short-Changed – Bloomberg

Europe:

• French and German growth data better than expected – Financial Times
• On the Upswing: Is Europe Finally Coming Out of Recession? – Der Spiegel
• Flash estimate for the second quarter of 2013Euro area and EU27 GDP both up by 0.3%-0.7% and -0.2% respectively compared with the second quarter of 2012 – European Union
• Bank of England divided on forward guidance, outlook for asset purchases – Reuters
• Eurozone’s longest-ever recession ends – USA Today

Asia:

• The Futile Search for a Chinese Gorbachev – The Atlantic
• What’s going on with China’s bad banks? – Financial Times

Local:

• Australia needs a fourth wave of wealth – The AFR
• Fewer staff, more unpaid overtime – The AFR
• IR threat to state’s property windfall – The Australian
• Why Labor has no tax policy – The Australian
• $4 billion hole in Coalition’s climate policy – The Age
• Narev calls for blueprint on economy – The Age

Other:

• The cruel trick played by history on Milton Friedman – Noahpinion
• Where the wealthy get their income – CNBC