Links 9 October 2013

Global Macro/Markets:

• What’s happening in the Treasury bill market today should terrify you- Washington Post
• Why America Needs a Stock-Market Crash – New Yorker
• In Some Corners of the Market, Stress Is Starting to Show – Wall Street Journal
• Putting a Speed Limit on the Stock Market – New York Times
• How Investors Lose 89 Percent of Gains from Futures Funds – Bloomberg
• Default Threat Generates Fear Around Globe – New York Times

North America:

• Weekly Drop in U.S. Economic Confidence Largest Since ’08 – Gallup.com
• A Federal Reserve clown show – The Economist
• House GOP Weighing Short-Term Debt-Limit Extension – National Journal
• Billions in Debt, Detroit Faces Millions in Bills for Bankruptcy – New York Times
• Six months of tense, closed-door negotiations led to Fed decision to continue bond buying – Wall Street Journal
• Five crazy ways for Obama to circumvent the debt ceiling – Washington Examiner

Europe:

• France to increase temporary business levy – CNBC
• Past rifts over Greece cloud talks on rescue – Wall Street Journal
• UK mortgage scheme could backfire – The AFR

Asia:

• Mizuho’s Ex-Banking Unit Chief Knew of Loans to Crime Groups – Bloomberg
• China and Japan Show Concern on US Default Risk – Bloomberg
• China says US has ’responsibility’ to resolve debt ceiling row – The Guardian
• How Resource Scarcity Constrains China – Bloomberg

Local:

• ANZ Chief tells RBA to hold off on cutting rates – The AFR
• Why politicians abuse expenses – The AFR
• China FTA will be more superficial than most – The AFR
• China slowdown will hit Australia – The Australian
• Holden closure to cost $600 million – The Australian
• Coalition to cut construction industry red tape – The Australian