Links 20 August 2013

Global Macro/Markets:

• Repo Market Decline Raises Alarm as Regulation Strains Debt – Bloomberg
• Are Higher Haircuts Better? A Paradox – New York Fed
• Banks Not Tough Enough on Themselves in Stress Tests, Fed Says – New York Times
• Banks return on equity: root of evil – Financial Times
• Safe banks need not mean slow economic growth – Financial Times

North America:

• Obama Focuses on Risk of New Bubble Undermining Broad Recovery – Bloomberg
• Why the US can’t scrap its dysfunctional system of financing homeownership – Quartz
• Twilight of Bernanke Years Shows No Sign of Buyer’s Remorse – Bloomberg
• Mortgage refinance boom ending – Sober Look
• Why the Fed could become a feistier place after Ben Bernanke departs. – Wall Street Journal

Europe:

• Profiteering: Crisis Has Saved Germany 40 Billion Euros – Der Spiegel
• Spain bad loan ratio rises to record in June – Reuters

Asia:

• Housing prices rose in 69 out of 70 of China’s biggest cities. That’s pretty scary – Quartz
• China Trading Error Reduces Investor Confidence in Stocks – Bloomberg
• India opposition urges early election as rupee falls to fresh low – Financial Times

Local:

• Labor: LNG costs not our fault – The AFR
• Coalition unrest over paid parental leave – The AFR
• Premiers baulk over Lib’s baby pill – The Australian
• Lib’s baby pay will be rorted – The Australian
• Parental leave won’t boost productivity – The Australian
• Westpac’s stressed loans drop by $700 million – The AFR
• Cutting tax and an urge to spend – The Australian
• Our boats policy is cruel: Turnbull – The Age
• Libs buy silence on zoning deal – The Age

Other

• At the root of Egyptian rage is a deepening resource crisis – Quartz
• Happiness, Behavioral Economics, and Public Policy – nber.org