Links 5 September 2013

Global Macro/Markets:

• How the Bank Lobby Loosened U.S. Reins on Derivatives – Bloomberg
• The Limits of Fundamental Analysis – Crossing Wall Street
• The Failure of Free-Market Finance by Adair Turner – Project Syndicate
• Who Cares About Syria? The Fed Is Buying Fewer Bonds! – Wall Street Journal

North America:

• Why Obama might tap Summers for Fed despite harsh criticism from left – Washington Post
• Here’s what Larry Summers would do at the Fed – Washington Post
• Leaving a Tip: A Custom in Need of Changing? – New York Times
• Fannie Mae Prepares Investors for Mortgage Risk-Sharing Bonds – Bloomberg
• Across U.S., bridges crumble as repair funds fall short – LA Times
• Fracking Boom Seen Raising Household Incomes by $1,200 – Bloomberg

Europe:

• Greece will negotiate after achieving primary surplus, says Stournaras – ekathimerini.com
• U.K. Services Growth Accelerates to Fastest Pace Since 2006 – Bloomberg
• Merkel blunders into bitter new row over eurozone in campaign – Financial Times
• No Bounce for Europe in Rebound by Germany – New York Times
• Eurozone economy expands at fastest pace in over two years – Markit
• Euro zone business sees best month in two years in August: PMI – Reuters
• The Riksbank is wrong about household debt – VOX
• About That Euro-Zone Recovery… – Wall Street Journal

Asia:

• China ‘Catastrophe’ Hits 114 Million as Diabetes Spreads – Bloomberg
• India crisis threatens big hit on banks – Financial Times

Local:

• Not much to write home about on GDP – The SMH
• Australia slips in world competitive rankings – The AFR
• Services sector weakest since GDP – The AFR
• Coalition savings hit $40 billion – The Australian
• We lost the appetite for reform – The Australian
• ALP’s mortgage competition shake-up failing – The Australian

Other:

• Consumer Confidence: A Useful Indicator of . . . the Labor Market? – New York Fed
• Emerging Nations Save $2.9 Trillion Reserves in Rout – Bloomberg
• External liabilities and crisis risk – VOX