Macro, Markets & Investing

• Panama Papers show tax avoidance like a ‘cancer’ – CNBC
• A bombshell is waiting to hit the US bond market – SCMP
• Taking the scalpel not the right solution for China’s steel woes – SCMP
• World’s poorest countries rocked by commodity slump and strong dollar – Guardian
• Yen’s surge against US dollar revives deflation jitters – Guardian
• China-Russia rift may help other ties bloom – Nikkei Asian Review…they will never be that close…
• Negative rates could fuel fresh ‘boom and bust’, IMF warns – Telegraph
• Vanilla prices soar on global shortage: here are the other nine most expensive spices in the world – Telegraph
• The West’s central banks are ignoring the basic lessons of economic history – Telegraph, Halligan
• A bright future but a stormy present for copper producers – Reuters, Andy Home
• Unintended Consequences of the Panama Papers – Bloomberg, El-Erian
• Where the world’s cheapest markets are [GRAPHIC] – ValueWalk, Ritholtz…very good graphic…

Americas

• U.S. shale oil firms feel credit squeeze as banks grow cautious – Reuters
• Analysts warn the US is not the safest house for investment – SCMP
• How Panama ended up in the middle of a financial scandal – Washington Post…good read…
• Puerto Rico governor declares emergency at Government Development Bank – Washington Post
• S. banks’ dismal first quarter may spell trouble for 2016 – Reuters
• In Iowa corn fields, Chinese national’s seed theft exposes vulnerability – Reuters
• The U.S. economy: Goldilocks it’s not – Market Watch
• Time’s up: Millions of Americans are about to lose Social Security benefits – Market watch
• Watching The Fed’s PIRP Walk – WSJ…the only game in town at the moment…
• This Vancouver Home Just Sold For More Than $1 Million Above The Asking Price – Zero Hedge

Asia

• Yuan’s value and capital outflows expected to stabilise – SCMP
• China March consumer prices rise 2.3% – Nikkei Asian Review
• Family feud over ‘hero worship’ erupts in Singapore – Nikkei Asian Review
• Beijing ‘must devalue yuan by 15pc’ to avert crisis – Telegraph, AEP
• China says its steel overcapacity will remain – CNBC
• Philippines must include casinos in dirty money law to ‘close loopholes’ – World Bank – CNBC
• Mystery $9 Billion in Extra Cash Perplexes India – Bloomberg
• Spreads Point to Growing Stress in Japanese Government Bond Market – WSJ…pay attention, this is serious…

Europe

• Brexit fears hurting UK economy – Telegraph
• Why Europe’s Banks Don’t Have Enough Capital – Bloomberg
• Bank of Italy conducts supervisory inspection at Bank of China offices, roiled by illicit remittance case – SCMP
• HMRC chief was partner at law firm that acted for Cameron offshore fund – Guardian
• David Cameron Releases Tax Data After Panama Papers Backlash – NY Times
• Germany tells Greece it needs to ‘do more’ as debt talks stutter ahead of May deadline – Telegraph
• Hit by Panama row, UK’s Cameron announces new tax evasion law in 2016 – Reuters
• Is Cameron next? Thousands protest in London over Panama Papers – Market Watch
• European Central Bank is progressing on expanding economic growth, credit – CNBC
• Austria Just Announced A 54% Haircut Of Senior Creditors In First “Bail In” Under New European Rules – Zero Hedge

Terra Specufestorus

• Coalition split on banking royal commission as Malcolm Turnbull faces flak over ‘captain’s call’ – Fairfax
• Target accounting scandal: Wesfarmers taking action against staff – ABC…how many were in?…
• Queensland Nickel workers getting food parcels while waiting for payouts – Guardian
• Education minister’s Hecs gaffe forgivable as long as he doesn’t forget rising tide of debt – Guardian, Jericho
• Arrium administration triggers anti-dumping calls for steel – ABC
• Foreign real estate investment jumps 75pc in a year, FIRB report reveals – ABC
• A royal commission into banks could restore our faith – ABC, Verrender
• ‘Dysfunctional’ Geelong council sacked for four years – Fairfax…if only we could sack more politicians more regularly…
• Minister Scott Ryan embarrassed after giving speech with parts lifted from obsolete 2014 article – Fairfax…maybe a few more ministers to be toasted in the lead up to an election?…
• Why investing in property doesn’t add up – Fairfax, Pascoemeter
• Chinese Buyers Double Their Aussie Property Investments, Again – Bloomberg
• Key heads to China for free trade agreement ‘upgrade’ negotiations – NZ Herald
• NZ foreign trusts to be reviewed by independent – NZ Herald…maybe in Australia too?…

…and furthermore…

• ‘Mr Nice’ Howard Marks dies aged 70 – Guardian…vale…
• The Rich Live Longer Everywhere. For the Poor, Geography Matters. – NY Times
• Panama Papers Leak Signals a Shift in Mainstream Journalism – NY Times
• The 1% hide their money offshore – then use it to corrupt our democracy – Guardian
• An anti-trade America is a recipe for disaster – Guardian
• For Harry Truman, the Buck Stopped at a Brush With Bankruptcy – NY Times
• Supersized container ships leading to overcapacity – Nikkei Asian Review
• The burden of cancer isn’t just cancer – Washington Post
• The mafia and a very special flower arrangement – Reuters…epic read, this is how an awful lot of drugs are transported around the world…
• The new math on reverse mortgages – Market Watch
• Elon Musk’s Drone Ship Landing Is Moon Walk for New Space Age – Bloomberg
• The not-completely-crazy theory that Russia leaked the Panama Papers – Washington Post…theres a lot in this theory – they told us nothing about Russian oligarchs we didn’t already know, have ruptured Ukraine, and dropped a lot of global leaders in the govno…

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