Links 24 February, 2016

Macro, Markets & Investing

• HKEx to launch gold futures contracts denominated in yuan – SCMP
• Central bankers on the defensive as weird policy becomes even weirder – Guardian
• A New Breed of Trader on Wall Street: Coders With a Ph.D. – NY Times
• Trade pact’s e-commerce clauses are a game changer – Nikkei Asian Review
• US to push for greater fiscal spending at G20 -Treasury official – Nikkei Asian Review
• Opec has failed to stop US shale revolution admits energy watchdog – Telegraph
• Get ready to be showered by helicopter money – Telegraph…this is where the major economies are heading…
• Sovereign-wealth funds could pull another $404 billion out of stock market – Market Watch
• Welcome to economic stagnation and stock market dysfunction – Market Watch
• Iron ore has biggest rally in years, but doubters still aplenty – Reuters
• The impotency of central banks – Bruegel
• BlackRock Warns Bond Traders They’re Underestimating the Fed – Bloomberg
• Market Calm May Be Short-Lived – Bloomberg, El-Erian

Asia

• Beijing tries to kill ‘zombies,’ keep economy alive – Nikkei Asian Review
• China’s Vulnerable External Balance Sheet – Economonitor
• Moody’s says China’s local government debt restructuring is cutting risk – CNBC
• Three ways China can tackle its currency dilemma – The Conversation
• Singapore government lowers 2016 inflation forecast to -1 to 0 per cent – Business Times
• Singapore lawyers warn of 1998-like pain as debt defaults spread – Business Times
• China to close more than 1,000 coal mines in 2016: energy bureau – Reuters
• Barclays Says Sharp Yuan Devaluation Needed to Shift Psychology – Bloomberg

Europe

• Why Brexit Uncertainty Isn’t All Bad – WSJ
• German business sentiment falls in February – CNBC
• Staying in the EU would see the UK facing up to economic domination – Telegraph
• Thousands of UK manufacturers risk slipping into stagnation – Telegraph
• Russia Trading Inc still in profit as imports fall more than exports – BNE Intellinews
• Democracy or Bust in Europe – Project-Syndicate, Varoufakis
• The US sneezes and the Eurozone catches a cold: The Eurozone has been infected by the US slowdown – VoxEU
• Globalisation and the nature of German manufacturing jobs – VoxEU
• How Putin Is Surviving Lost Oil Revenue – Bloomberg

Americas

• U.S. Economy Still on the Rise, White House Report Finds – NY Times
• Still think America is the ‘land of opportunity’? Look at this chart. – Washington Post
• Canada’s banks could be forced to raise equity, cut dividends if oil prices keep sinking, Moody’s warns – Financial Post
• What the shrinking amount of mortgage debt tells us about the housing market – Market Watch
• Tightening credit heralds more pain in U.S. farming downturn – Reuters
• Global clouds darken U.S. economic outlook – CBS

Terra Incognita

• Malcolm Turnbull throws down but Labor’s housing ‘smash’ is overrated – Guardian
• Scott Morrison’s response to Labor’s negative gearing plan is truly disturbing – Guardian, Jericho
• Finally we have a real tax reform debate – ABC, Verrender
• There’s more to Australia than commodities: Trade Min – CNBC
• Tax fiasco: PM revives crimping tax breaks on capital gains discounts for super funds – Fairfax
• Morrison ticks off sale of Australia’s biggest dairy to Chinese buyer – The Conversation
• Gap between rich and poor extends to views on retirement age: poll – The Conversation

…and furthermore…

• Seas Are Rising at Fastest Rate in Last 28 Centuries – NY Times
• For Apple, a Search for a Moral High Ground in a Heated Debate – NY Times
• Are paywalls saving journalism? – The Conversation
• The Closing of the Academic Mind – Project-Syndicate
• Stabilisers or amplifiers: Pension funds as a source of systemic risk – VoxEU