China
- China economic reform may yield surprises – SCMP
- New Faces, New Reforms for Big Oil in China – Caixin
- China Won’t Inject ‘Specific Amount’ via Local Debt Collateralisation-Central Bank Vice Governor – NY Times
- Kevin Rudd: Answering the Peaceful Rise Question – Caixin
- Li set to discuss Pacific-Atlantic railroad – Global Times
- How China Inc.’s Debt Fix Is Piling Risk on Individual Investors – Bloomberg
- China’s new infrastructure bank may prove a regional boon if Beijing can put politics aside – China Economic Review
- China is on track for the biggest reduction in coal use ever recorded – Quartz
- China doubles tax rate for cigarettes to 11% – China Daily
- Support builds up for crucial renminbi move – China Daily
- China could crash US dollar with 30,000 tons of gold – Want China Times
- PBOC confirms debt-swap plan – China Daily
- Will China avoid the middle income trap? – Nikkei Asian Review
- Xi bets on rail projects to boost slowing economy – Nikkei Asian Review
Asia
- US$750 billion gap in India’s push for China-like infrastructure – SCMP
- China, India sign trade, space exploration pacts; call for greater trust between two Asian powers – SCMP
- BOJ policymaker gives a glimpse of post-easing world – Nikkei Asian Review
- Bank of Korea holds rates, softens case for more easing – Nikkei Asian Review
- For Modi’s year-old government, storm brewing in rural India – Reuters
- The Xi-Modi Meeting: China and India Positioned for Asian Era – Economonitor
- Trade Deal Threatens Japan’s Food Security, Ex-Minister Says – Bloomberg
- UBS joins Formosa bond bonanza – Finance Asia
Europe
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- Why Syriza Will Blink – Project-Syndicate, Kaletsky
- Greek Finance Minister Lashes Out at E.C.B. Chief – NY Times
- Eurozone Economy Improves, but Finland and Greece Stumble – NY Times
- Finland, Once a Eurozone Point of Pride, Is Now Faltering – NY Times
- Facing Vicious Debt Cycle, Greece Sprints to Apply Fixes – NY Times
- Greece offers privatisation concession as Germany stays tough – Irish Times
- First Irish solar farms due next year, says firm – Irish Times…Macquarie backing Irish solar power…
- Mario Draghi hits back at critics of QE as Greek woes continue – Telegraph
- Varoufakis refuses any bailout plan that would send Greece into ‘death spiral’ – Guardian
- NEGOTIATING THE GREEK PUBLIC DEBT: WRONG FINANCE MINISTER WAS FIRED – Pieria
- Tourism Troubles: Berlin Cracks Down on Vacation Rentals – Der Spiegel
- EU growth surprises hide clear pattern – Reuters, Edward Hadas
- Greece to Privatize Port, Airports in Concession to Creditors – Bloomberg
- Bank of Russia Buys $181 Million to Start Rebuilding Reserves – Bloomberg
- Greece’s hot summer – Bruegel
- Greece is falling back into recession at the worst time possible – Quartz
- Russia’s crisis is over, but the pain of recession is just starting – Fortune
United Kingdom
- Bank of England governor calls for early Brexit referendum – Irish Times
- Britain’s shameful productivity deficit must be tackled head-on – Telegraph
- Jim O’Neill gains peerage and ministerial role in Treasury team – Guardian
- HSBC is right to look at moving out of Britain, admits Bank of England deputy governor – Telegraph
- Bank Of England’s Carney Says ‘Possible’ Rates Will Be Higher In A Year – IB Times
- Interest rates would be higher without immigrants – BBC, Peston
- Construction bounce unlikely to strengthen UK growth – Guardian
United States
- Here’s how Americans are eating into their savings – Market Watch
- Amid boom, fears of too many $20 million Manhattan apartments – Market Watch
- Where Americans Spend Their Money – WSJ
- The U.S. Economy Just Had Its Worst Month Since the Recession – WSJ
- If the US economy is signalling an iceberg, bad news: we’re out of lifeboats – Guardian
- US jobless claims touch 15-year lows in sign that employment on solid footing – Guardian
- Why the New York Fed Should Not Be Reined In – NY Times
- The US Is NOT in Recession According to These 7 Charts – Financial Sense
- Look beyond retail sales for what’s really happening with the U.S. economy – Financial Post
- Americans Warm to Redistribution – Bloomberg
- Factory Output in U.S. Stalled in April on Machinery Cutbacks – Bloomberg
- Trans Pacific Partnership: Canadian Official’s Salvo Against Key Dodd-Frank Provision Muddies Trade Talks – IB Times
- The TPP would be great for America if Americans had been saving for retirement – Quartz
Americas
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- China to invest US$50bn in Brazilian infrastructure projects – SCMP
- How the bond market meltdown could push fixed mortgage rates higher – Financial Post
- Even the prime minister is warning Canadians about debt as housing boom turns patchy – Financial Post…what about ‘have a go’?…
- Why Canada should be world’s choice energy exporter – Financial Post
- How long will Canadian banks hold up? – Financial Post
- Chile: Such a Star, Until It Wasn’t – Bloomberg
Terra Hockeynomicus
- Bipartisan convergence there is – but not on what really matters for the economy – Fairfax…bipartisanship on contemptuous mediocrity is what we have…
- Budget week reveals an appetite for government but not to govern – The Conversation
- Bill Shorten’s top three pledges could cost $40 billion – Fairfax
- Benign-looking budget uses hidden fangs to drain money from health – The Conversation
- There are no green shoots for sustainability in this Budget – The Conversation
- Debt disaster is so last year – now Hockey’s giving a helping hand – The Conversation
- Nomura’s Andrew Ticehurst calls third interest rate cut later this year – Fairfax
- Will voters see through the post-budget spin? – ABC, Barrie Cassidy
- OECD ramps up rhetoric on corporate tax after Australian crackdown – ABC
- Moody’s warns on housing, Reserve Bank wants investor lending to slow more – ABC
- Atlas Iron resumes production as PM backs supply inquiry – ABC
- Budget 2015: You call yourself an ‘infrastructure prime minister’? – ABC, Alan Kohler
- The new coal frontier – Guardian
- Any Australian iron ore inquiry won’t solve major issue – Reuters, Clyde Russell
- Australia’s New Tax Plan Misses the Mark – Bloomberg
- Australian wages growth – lowest on record – Bill Mitchell
- An economic hiccup could easily derail Hockey’s path back to a surplus – Guardian, Greg Jericho
- Labor beats hasty retreat on foreign ownership property tax – Fairfax
- Home loan size surges as buyers pile on debt – Fairfax….every bit of extra debt helps, doesn’t it?….
- A pointless inquisition of BHP and Rio looms – Fairfax, Maiden
- Federal budget 2015: Small measures and a media circus – Fairfax, Gitto
- Federal budget 2015: The government’s something special may not save Australia – Fairfax…can say that again…
- Big pharma shuffles the tax pill – Fairfax…big pharma doing what big everything else does…
- Federal budget 2015: Cut income tax, says Treasury Secretary John Fraser – Fairfax, …make that revenue base smaller so future governments can’t touch the wealthy? Treasury Secretary is a company man!…
Capital Markets
- The sustainable side of oil – World Finance
- ETF companies boost bank credit lines amid liquidity concern – Reuters
- Bulls shouldn’t expect help from the Fed – Humble Student of the Markets
- Bond Market Plunge Shows How Stability Can Breed Instability – WSJ
- The great distortion: Subsidies that make borrowing irresistible need to be phased out – Economist….don’t tell bubbles…
- SEC a stumbling block in banks’ forex guilty pleas: sources – Reuters
- Foreign Central Banks Use Treasury Rout as Buying Opportunity – Bloomberg
- Debt Traders to Fed: We Dare You to Try Raising Rates This Year – Bloomberg
Commodities
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- US discourages Chinese investment in LNG export industry – SCMP
- China Decides Big Steel Is Too Big – Bloomberg
- Oil Has Bottomed; Now What? – XE.com
- Germans pile into gold amid Greek eurozone default fears – Telegraph
- Japanese trading houses to cut investments, step up asset sales – Reuters
- Global glut threatens West African iron ore ambitions – Reuters
- Who wants to be a swing producer? No one – Reuters
- Growing supply to keep pressure on iron ore prices: BHP Billiton – Reuters
- How China Threw Its Rare Earths Monopoly Away – Oilprice.com
- Are US Drillers Actually Making A Comeback? – Oilprice.com
- Freeport LNG Says It Was Warned Not to Sign Up Chinese Customers – Bloomberg
- Just 38 Miles Apart, One Texas Oil Town Is Still Booming and the Other Is Dead – Bloomberg
- Silver Attempting To Break Out – Short Side of Long
- Crude Oil At A Bottom: Part 2 – Short Side of Long
- Aussie gold miners might be smaller but punch harder – Mineweb
- Saudi Arabia, Russia declare victory in the great oil contest of 2015 – Fortune
Global Macro & Investing
- Why Wall Street investors and Chinese firms are buying farmland all over the world – Vox.com
- Climate change and its stormy relationship with the insurance sector – World Finance
- How To Get Currency Hedging Right – ETF.com
- Changing Course, Russia Will Sell Rubles Instead of Buying – NY Times
- Currency Manipulation Has Emerged as the Big Sticking Point on Trade – WSJ…it was just a matter of time…
- China now world’s biggest source of international students as more Chinese head overseas for broader education – SCMP
- Epic global bond rout is a QE success story – but it won’t last – Telegraph, AEP
- WHY ARE ANALYST RATINGS AND EQUITY PRICES NOW GOING IN OPPOSITE DIRECTIONS? – Pieria
- The world economy is starting to look a lot like the Titanic, HSBC chief economist warns – Financial Post
- How Might the Fed’s Rate Hike Influence Global Demand and Investments? – Financial Sense
- The screaming buy signal of gathering bears – Market Watch
- An important Dow divergence is ominous for stocks – Market Watch
- Citi: Here Are the Asset Classes That Are the Most Bubbly – Bloomberg…take a look at this…
- Is a Fiscal Deficit Really “Austerity”? – Pragmatic Capitalism
- California’s Future Is in Australia – Bloomberg
- NEW WAYS TO CRASH THE MARKET – New Yorker
…and furthermore…
- The Secret Corporate Takeover – Project-Syndicate, Stiglitz
- An Economics to Fit the Facts – Project-Syndicate, Eichengreen…would be a nice start…
- Nurse Confessions: Don’t Get Sick in July – Politico
- Profit Margins in a “Winner Take All” Economy – Philosophical Economics
- The Rise of ‘Middle Class’ as an Ordinary American Term – NY Times
- The $179 Million Picasso That Explains Global Inequality – NY Times
- The Bursting Bubble in Higher Education– Political Calculations
- Lotteries: America’s $70 Billion Shame – The Atlantic
- President Obama on how Fox News teaches the middle class to demonize the poor – Washington Post
- How Much Finance Is Too Much? – WSJ
- To Do Good in the World, Get a Better HR Department – The Atlantic
- Is your job making you fat? – Telegraph…almost certainly…
- Do companies have a right to watch employees 24/7? – CBS
- The major data security threat you’ve never heard of – CBS
- We rely on economics too much – RWER
- Why living off your dividends in retirement may be a mistake – Financial Post
- Economic and environmental impacts of fracked shale gas – Vox
- Blood Feud: Behind the Scenes of Volkswagen’s Dynastic Battle – Der Spiegel…good read…
- HSBC in 2020: An imagined letter to shareholders – Reuters
- Boiler Rooms Meet Boardrooms as Scammers Invade London City – Bloomberg
- Trent Lott’s Firm Made a Fortune Lobbying for the Kremlin – Bloomberg…not the only hypocrite taking money out of Russia on the sly…
- Citi: This is Why Wall Street is Hard-Wired to Produce Bubbles – Bloomberg
- The Myth of Shareholder Value – Bloomberg…up there with the myth of efficient markets…
- The world’s best banknotes of the year – Quartz
Techno, science, global warming etc
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- Quest for a Superbee – National Geographic…good read…
- Dying honeybees, and the uncertain future of honey – Washington Post
- The Economics of Tidying Up – The Atlantic
- Huge El Niño Becoming More Likely in 2015 – Slate
- El Niño near-certain to last through summer: U.S. climate center – Reuters
- 10,000-Year-Old Antarctic Ice Shelf Could Disappear Before Decade’s End, NASA Study Finds – IB Times
- The day when roads will harness solar energy is drawing near – Quartz
- The Kinetic Wood Sculptor – Priceonomics
- The Psychology of the Self-Appointed Genius – Priceonomics
The last note
- B. King, Mississippi-born master of the blues, dies at 89 – Washington Post…vale, and thanks…