China
- 3 Cheung Kong firms to acquire Australian gas pipeline firm Envestra (SCMP)
- Li Ka-Shing Group to Purchase Envestra in A$2.4 Billion Deal (Bloomberg)
- Super-Size Me! China’s ’Mini’ Stimulus Starts Expanding (Bloomberg)
- Beijing pushes ‘cocktail therapy’ economic policy (WantChinaTimes)
- Bigger graft crackdown for China’s energy sector still to come (WantChinaTimes)
- Despite U.S. Prodding, Renminbi Liberalization to Proceed at China’s Pace (Global Finance)
- Zero Down Payment? China’s Developers Get Desperate (WSJ China Real Time)
- Chinese economy at the crossroads (China Daily)
- ‘Mini-stimulus’ delivers positive news flow (China Daily)
- How State-Backed Shipping Firm Ran into Ice Berg of Debt (Caixin)
- Shanxi Official Linked to Ex-Boss of China Resources Investigated (Caixin)
- Why Do State-Backed Giants Wind up in Debt Messes? (Caixin)
- China’s slowdown is a bit too much for Li Keqiang to bear (China Economic Review)
- Why We Should Welcome Slower Growth in China (Institutional Investor)
Asia
- Japan consumer spending, factory output skid after rise in sales tax (SCMP)
- Stumbling Thai economy lends urgency to junta’s revival efforts (Reuters)
- Singapore Home Prices May Fall More: Standard Chartered (Bloomberg)
- Japan Steelmakers Weigh Action to Stem Flood of Imports (Bloomberg)
Europe
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- Hard-hit Spain is turning the corner (SCMP)
- Putin forms trade bloc with former Soviet states (SCMP)
- A diminished France could spell the end for Europe (FT.com)
- Aging Swiss Face Pension Funding Dilemma on Immigration (Bloomberg)
- Russia forges ‘epoch-making’ Eurasian Economic Union (EuropeanVoice)
- ECB Under Pressure to Abandon Superior Policy Stance (FinancialSense)
- Europe’s Ukrainian Lifeline (Project-Syndicate)
- Realty Investors Flock to Spain (NY Times Dealbook)
- Mr. Draghi–Your Public Awaits (WSJ MoneyBeat)
- Can Mr. Draghi Actually Do Anything About Inflation? (WSJ MoneyBeat)
- Europe’s Populist Resurgence: Not as Ugly as it Looks (Peterson Institute)
- Ukraine: The Real Energy Crisis Starts in June (OilPrice.com)
- When Monetary Policy Involves Exploration (Caixin)
- The Italian fault line (Bruegel)
- The German Court does Europe a favour (Bruegel)
- Europe: 1, Google: 0: EU Court Ruling a Victory for Privacy (Der Spiegel)
United Kingdom
- Drugs and prostitution add £10bn to UK economy (Ft.com)
- Bank of England governor risks leaving £375b puzzle for successor (SCMP)
- U.K. House Prices Rise as Consumer Optimism Improves (Bloomberg)
- Help to Buy irrelevant to London bubble (BBC)
- Britain is still feasting on credit – and the next crunch will hit in 2016 (Guardian)
- Triple boost for Chancellor as growth soars (Telegraph)
- BoE sets out plan to restore confidence in ‘toxic’ loans (Telegraph)
- Don’t raise interest rates (Piera)
United States
- Don’t assume newest Fed policymaker is a look-alike hawk (Reuters)
- U.S. Said to Seek More Than $10 Billion Penalty From BNP (Bloomberg)
- China Sets America’s Mental Trap (Project-Syndicate)
- America’s Move to Faster Growth (Project-Syndicate)
- A comment on GDP Revisions: No Worries (CalculatedRisk)
- Is Q1 GDP Data Misleading Us? (The Capital Spectator)
- Lower mortgage rates unlikely to boost the housing market (SoberLook)
- Staging the QE exit (SoberLook)
- U.S. Retail Economic Death Rattle Grows Louder (MarketOracle)
- U of Chicago Economist Challenges Fed Thinking on Inflation (MoneyNews)
- The Fed’s Exit Strategy: A Delicate Balancing Act (Caixin)
- US money slump flashes warnings as economy contracts (Telegraph)
- Why the Fed’s Profit Bubble Will Soon Pop (CBS MoneyWatch)
Global Macro
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- Capitalism Eating Its Children (NY Times)
- U.S. Interest Rates: The Potential Shock Heard Around the World (iMF Direct)
- FT journalist accused of serious errors in Thomas Piketty takedown (Guardian)
- US farm groups seek to exclude Japan from Pacific trade talks (SCMP)
- Oettinger hints at binding efficiency target (EuropeanVoice)
- The End of Globalization and the Looming Tech Trade War (FinancialSense)
- Few People worldwide expect to retire comfortably (CBS MoneyWatch)
- Could Social Security go Bankrupt? No Likely (CBS MoneyWatch)
- Vital retirement lessons from the 1950s (CBS MoneyWatch)
- After Crisis, a New Spirit of Reining In the Banks (NY Times)
- Why Real Median Housiehold Income is the most misused statistic in the econoblogosphere (Bonddad)
- How highly educated immigrants raise native wages (Vox)
- Exchange-rate flexibility and credit during capital inflow deversals: Purgatory … not paradise (Vox)
- Global income distribution: From the fall of the Berlin Wall to the Great Recession (Vox)
- Argentina Reaches $9.7 Billion Debt Payment Agreement With Paris Club Countries (IB Times)
- Canada’s oil patch bracing for coming ‘retirement tsunami’ (Financial Post)
- We’re not all middle-class now (New Statesman)
Capital Markets
- Wanted: reliable secondhand bond dealers (FT.com)
- Supply and demand drives down bond yields (FT.com)
- Rising supply splits iron ore bulls and bears (FT.com)
- Why US companies can earn $51 billion in the Cayman Islands even though its GDP is only $3 billion (Quartz)
- Is This The Mania Phase of the Bull Market? (PragCap)
- Brokers, Liquid Alts and the Fund That Never Goes Up (TheReformedBroker)
- Dillian: How Trading Liquidity Changed In A Flash (ETF.com)
- Policy Induced Mediocrity? (Tim Duy’s Fed Watch)
- Revenue substitution in resource-rich economies: Evidence from a new dataset (Vox) …a prophetic last paragraph
- Get pumped for a summer melt-up — followed by a ‘nasty correction’ (WSJ MarketWatch)
- Fink Says Leveraged ETFs May ‘Blow Up’ Industry (Bloomberg)
- They Called The Recession And Made A Killing On It — And Say It Ain’t Over Yet (Forbes)
- Why The Party In The Treasury Market Might Be Over (ValueWalk)
Commodities
- US shakes up LNG export rules (FT.com)
- Dry weather threat to wheat crop in key regions (FT.com)
- Iron Ore Heads for Record Losing Streak on Growing Supply (Bloomberg)
- Energy Department seeks to change gas export permitting (Washington Post)
- China’s Emerging Shale Industry Picks Up Speed (OilPrice.com)
- Deadly Pig Virus Reinfects US Farm, Fuels Supply Fears (IB Times)
And Furthermore……
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- How to Become an Oligarch (Project-Syndicate)
- The ‘Miracle’ Berry That Could Replace Sugar (The Atlantic)
- Google Answers Some of the Pressing Questions About Its Self-Driving Car (The Atlantic)
- The volume just got cranked up in a crucial dispute over golden oldies songs (Quartz)
- Right to Be Forgotten? Not That Easy (NYTimes)
- Do people really overuse healthcare when it’s free? (LA Times)
- The half-privatization of public higher education (RWER)
- Ten Companies With the Least Valuable Workers (24/7 Wall St)
Research
- Ingves: Monetary policy and macroprudential policy in a globalised world (Governor Stefan Ingves, Riksbank) (pdf) …..well worth a read
- How Strong are the Linkages between Real Estate and Other Sectors in China? (HKIMR) (Pdf)
- US Update Calm before the storm? (Nordea) (Pdf)
- Job Polarization and the Great Recession (Cleveland Fed)
- The Slowdown in Residential Investment and Future Prospects (Cleveland Fed)
- Has US Household Deleveraging Ended? A Model-Based Estimate of Equilibrium Debt(Bank of Portugal) (Pdf)
- Why Accounting Matters: A Central Bank Perspective (ECB)
Australia/New Zealand
- Iron ore magnate Andrew Forrest eyes growing Chinese meat market (SCMP)
- Sovereign Pain Trade Spurs Best Aussie Bond Gains in Year (Bloomberg)
- Tokyo, Canberra test sub fleet export waters (Japan Times)
- New Zealand’s immigrants, I’m a stranger here myself (Economist)
- ASIC Needs More Whistleblowers (The Yarra property Spruiker) …so it can refer them to the AFP?
- Foreign buyers claims mostly false, RBA says (The Yarra property Spruiker) … How would RBA know? How would FIRB know?
- States should be scrapped so the Prime Minister can be a true leader (SMH) …well let’s have a referendum on it, shall we?
- China trims iron ore contracts as glut hits market (SMH)
- Property investment spruikers on notice to abide by consumer law (ABC)
- Former students face thousands in interest payments under loan changes (Guardian)
- The motherhood penalty: why women keep earning less than men (Guardian, Greg Jericho)
- Regulator lacks resources to enforce foreign home buyer restrictions (ABC) …and how many legal actions have ever been brought about by FIRB over real estate?