South seas icon No.21: Totem Mountain with brassy sky, Shay Docking, 1972-73, National Gallery of Victoria
China
- Chinese banks halt mortgage lending after reaching 1st quarter quota on new loans: report – SCMP
- Chart of the day: Shanghai steel rebar surprises – SCMP
- China private equity deal values cratered in 2016, but that’s not the whole story – CNBC
- The great Chinese inequality turnaround – VoxEU
- China, Saudi Arabia Sign Deals Worth $65 Billion – Caixin
- China’s Central Bank Increases Policy Rates on Strong Economic Data – Caixin
- Housing Curbs Expand to Tame Sprawling Speculation – Caixin
- Premier Defends Yuan’s Performance Against Dollar – Caixin
- China’s Worst Trade Abuses Are Hidden – Bloomberg
- Why China Unexpectedly Hiked Rates 10 Hours After The Fed – Zero Hedge
- More Chinese cities further restrict housing purchases to cool market – China Daily
- Move on rates aims at fending off risks – China Daily
- Chinese Private Investment Growth Decelerates Sharply in 2016 – Peterson Institute
- Government Clampdown on Insurers’ High-Yield Offerings Hits Small Firms – Caixin
- 5 Maps That Show China’s Biggest Limitations – ValueWalk
- Dollars do not lie — the true picture of China’s growth – Nikkei Asian Review
- It’s Time to Hit Pause on China Panic – Bloomberg
- Did China follow the Fed in raising rates? If yes, why is the central bank denying it? – SCMP
Asia
- BOJ lone holdout as peers turn to tightening – Nikkei Asian Review
- Jakarta braces for political turmoil from massive corruption case – Nikkei Asian Review
- BOJ chief rejects talk of interest rate rise, maintains easing stance – Nikkei Asian Review
- Singapore’s non-oil domestic exports rise 21.5% year-on-year in February – Business Times
- ‘Outlier’ S&P may upgrade Indonesia, triggering fund flows – CNBC
- Singapore Feb exports strongest in 5 years, beat forecasts – CNBC
- Tokyo Has More Than Two Job Openings for Every Applicant – Bloomberg
- A $33 Billion Manager Says History on Side of Indian Stocks – Bloomberg
- Malaysia’s Muddle: Money Politics Holds a Nation Back – Bloomberg
- Investors brace as Erdogan stakes economy on pursuit of one-man rule – BNE Intellinews
- Super-easy monetary policy and reflating Japan’s economy: The Bank of Japan’s mission is incomplete – VoxEU
- The Dark Secret Behind India’s Solar Plan – Bloomberg
Europe
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- Italy’s Predicament is Europe’s Predicament – Economonitor
- German Authorities Raid U.S. Law Firm Leading Volkswagen’s Emissions Inquiry – NY Times
- Putin might not wait for Trump to sort out his Russia policy – CNBC
- How to re-employ the Spanish long-term unemployed – VoxEU
- Debunking 5 myths about Frexit – Bruegel
- How not to create zombie banks: lessons for Italy from Japan – Bruegel
- 2017 could be a huge year for the European steel industry – Platts
- European Companies Need to Get Bigger or Risk Being Acquired – ValueWalk
- ECB Taper Spells Profits for European Banks – Bloomberg
- Irish borrowers on knife edge as era of low rates winds down – Irish Times
- An Irish/UK ‘powerhouse plan’ is required in wake of Brexit – Irish Times
- Did the Irish economy ‘recover’? – Flassbeck Economics
- Germany Treads Carefully Toward Climate Confrontation With Trump – Bloomberg
United Kingdom
- Interest rates stay on hold but rising inflation breaks the consensus at the Bank of England – Telegraph
- How EEC membership drove Margaret Thatcher’s reforms – VoxEU
- The government’s cut to inheritance tax will deepen the North-South divide – Prospect
- The government picked the wrong U-turn – Prospect
- Faltering wage growth is becoming May’s headache – BBC…the headache of the postglobalised developed world worker…
- U.K. Consumer Spending to Slow Sharply in Coming Years, PwC Says – Bloomberg
- U.K. Bank CEO Pay Tied to ‘Surprisingly Low’ Goals They Can Beat – Bloomberg
- The City of London after Brexit – Peterson Institute
- Migration, belonging and the ‘right to reside’ in little Brexit England – Flassbeck Economics
United States
- Trump Takes a Gamble in Cutting Programs His Base Relies On – NY Times
- Edge or Liability? White House Ties May Cut Two Ways for Goldman – NY Times
- Wells Fargo Leaders Reaped Lavish Pay Even as Account Scandal Unfolded – NY Times
- One Certainty of G.O.P. Health Plan: Tax Cuts for the Wealthy – NY Times
- Yellen’s Message: My Work Here Is (Mostly) Done – NY Times
- Firing federal workers isn’t as easy as Trump makes it seem in his budget – Washington Post
- This program has been saving working-class jobs for 30 years. Now it’s in big trouble – Washington Post
- Trump puts Toyota back on hot seat over US jobs – Nikkei Asian Review
- Fed ratchets up rates, eyes 2 more hikes this year – Nikkei Asian Review
- U.S housing, factory data underscore economy’s resilience – Reuters
- Fed rate hikes + low growth = recession, says stock-market strategist – Market Watch
- Not one American city makes the world’s Top 20 best places to live – Market Watch
- The White House Takes Its Attacks On Jobs Data To A New (And Dangerous) Level – FiveThirtyEight
- Fed is still way behind the curve after rate hike, says former governor – CNBC
- Trump’s budget blueprint is a war on the future of the American economy – Vox
- The Fed tightens just as the economy weakens
- Lenders fuel hopes that worst is over for US ag machinery market – Agrimoney
- Why Trump’s budget proposal may not be a blueprint for economic growth – LA Times
- Nominee to head U.S. trade negotiations defends Trump, criticizes China – LA Times
- U.S. Banks’ Real Estate Boom Could Be Signaling Next Crisis – ValueWalk
- US Economy 2017 Predictions Under Trump: Next Crash Is Coming, Chomsky Says – IB Times
- Behind Trump’s Russia Romance, There’s a Tower Full of Oligarchs – Bloomberg…a lot of dirty Russian money would like an easier ride with Donald…
- Why Federal Workers Get Paid More – Bloomberg
- The Fed Delivers a Hike and a Message – Bloomberg, El-Erian
- Wage earners tap the housing MAC again as real wages decline – Bonddad
- Real retail sales and the 2017 outlook – XE.com
- Scientists Brace for a Lost Generation in American Research – The Atlantic
- The Fed Raises a Rate—But Faster Tightening Depends on Congress – Peterson Institute
- A quarter of US beer drinkers have switched to marijuana or would if it was legal – Quartz
- U.S. business execs skeptical about tax reform in 2017 – CBS
- Half of college grads earn less now than in 2000 – CBS
- Are Collapsing Pensions “About To Bring Hell To America”? – Zero Hedge
- Is 100 Percent Decarbonization a Good Idea for the California Grid? – Economonitor
- The U.S. hit its debt limit again. Now the Treasury Department is maneuvering to avoid a default until Congress acts – LA Times
Americas
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- Ontario manufacturers eye greener pastures stateside as hydro rates go through the roof – Financial Post
- Who’s to blame for Toronto’s crazy real estate market? Surprise! It’s politicians – Financial Post
- Purpose-built rental developments in GTA crucial to prevent ‘full-blown affordability crisis’: CIBC – Financial Post
- Colombia: Getting Peace, Getting Growth – Economonitor
- Latin America’s Barriers to Growth – Project-Syndicate
- How A Weakened Mexican Economy Could Threaten U.S. Security – FiveThirtyEight
- Brazil warns of the perils of a closed economy ahead of G-20 talks – CNBC
- A smarter tax would ease Vancouver’s housing crisis – Vancouver Sun
- Brazil’s valuation recovery might have run out of steam – Euromoney
Terra Ponzinomicus
- ‘Living in a fool’s paradise’: Business sounds the alarm on federal budget – Fairfax…but is it business, the electorate, or the government living there?…
- Malcolm Turnbull says the government supports penalty rate cuts – Fairfax
- ASIC vows to name and shame banks that don’t conduct background checks – Fairfax
- Barnaby Joyce floats national royalty plan to dismantle coal seam gas bans – Fairfax…why not a national royalty on all resources…
- Westpac follows NAB in raising home loan rates – Fairfax
- Superannuation for housing deposits would facilitate intergenerational theft – ABC, Janda
- Battery-makers on Turnbull’s Tesla chat: ‘Give Australian companies a fair go’ – Guardian
- The Immigrants Did It: Tony Abbott’s Scapegoats For Our Housing Problems – The New Daily
- Australian labour force – negative employment growth and rising unemployment – Bill Mitchell
- How Goldman Sachs and Australia’s biggest brewer SAB pay no tax – Michael West
- Making miners pay their fair share. – Pearls & Irritations, Menadue
- ScoMo tells the truth about real estate, gets the sin bin – Michael West
- Gas crisis: a crisis of guile and greed – Michael West
- The solution to Australia’s gas crisis is not more gas. – Pearls & Irritations
- The National Electricity Market: What happens when economists get involved with electricity – Pearls & Irritations
- The non-existent Australian government energy policy – Pearls & Irritations
- A Future Submarine bonanza for France – Pearls & Irritations
- Too Many People Are Going to New Zealand. And That’s a Problem – Bloomberg
- How Australia has gone 25 years without a recession – Economist…but the debt they haven’t mentioned will ensure the next recession is epic…
- Naming and shaming bankers may be satisfying, but could backfire – The Conversation
- New Zealand Q4 slower than expected on exports, but seen recovering – Nikkei Asian Review
- Casual workers paying for ‘junk’ superannuation life insurance they don’t know they have – ABC
- Banks under investigation as ASIC targets dodgy mortgage lending – ABC
- Budget repair urgently needed or ordinary Australians will suffer, Business Council says – ABC
- Hong Kong’s Chow Tai Fook buys Australia’s Alinta Energy for US$3.1bn – SCMP
- ‘Not much we can do with her’: Malcolm Turnbull says he can’t work with new ACTU boss Sally McManus – Fairfax…’Not much we can do with them’: Australian voters say they can’t work with Australian politicians too…
- Households abandoning the grid have ‘lost faith’ – Fairfax…was your faith lost during a 30 minute wait for a peon recording your call for ‘coaching purposes’ over a ‘service charge’ more than half your bill?…
- Turnbull kicks the energy hornets’ nest and goes Full Metal Export – Guardian
- Can budget 2017 fix housing affordability? Here are seven options – Guardian, Jericho…well worth a read…
- Blame game: The awkward showdown between Jay Weatherill and Josh Frydenberg was a long time coming – The Monthly, Middleton
- Inpex: What’s behind the job losses on the Ichthys LNG project? – ABC
- Regular Aussie bloke fights back against ‘dangerous’ superannuation idea – Rational Radical
- The great gas robbery is happening before our eyes. But what can we do about it? – ABC
Commodities
- US LNG a boon for Japan – Nikkei Asian Review
- Struggling Brazilian coffee farmers turn to pepper – FT.com
- Opec faces quandary as cuts fail to prop up oil prices – FT.com
- Tight Brazilian supplies will support arabica prices, Rabobank says – Agrimoney
- Sugar prices face ‘more volatility’ – especially if El Nino strikes – Agrimoney
- Lack of agreed methodology on OPEC compliance leads to confusion: Fuel for Thought – Platts
- Why natural gas is the future — not coal – CBS
- Macquarie to buy Cargill’s oil business; traders see logic in deal – Platts
- Bearish Market Breadth Divergence A Warning For Commodities? – SeeItMarket
- Halfway into 2017’s oil supply cut, Asia remains awash with fuel – Reuters
- The Gold Party’s Back on After Yellen Reassures the Market – Bloomberg
- Europe Is Waving Goodbye to Sugar Cane – Bloomberg
- Venezuela’s cash-strapped PDVSA offers Rosneft oil stake – sources – Reuters
- China extends sugar dumping probe until May 22 – Reuters
- Weather outlook could be game-changer for U.S. corn, soy planting – Reuters
- South American corn in great shape but not in the bag yet – Reuters
- Coal India missing output target doesn’t matter, mining millions of tonnes more does – Reuters, Clyde Russell
- China crude oil stockpiling impervious to OPEC price hike – Reuters, Clyde Russell
- Oil at $40 No Problem as U.S. Drillers Snub OPEC With Hedges – Bloomberg
- Saudi Arabia Says Oil-Supply Cuts May Be Extended If Needed – Bloomberg
Capital Markets
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- Unintended consequences: specialising in risky mortgages under Basel II – Bank Underground
- International Financial Cooperation Benefits the United States – Peterson Institute
- Goldman Sachs’ lessons from the ‘quant quake’ – FT.com
- Bond Traders Face New Paradigm – Bloomberg
- Chance for Smart U.S. Debt Funding Is Slipping Away – Bloomberg
- Shorting the Euro Is an Outdated Strategy – Bloomberg
- Currency Traders Race to Reform `Last Look’ After Bank Scandals – Bloomberg
- The Golden Age of Hedge Funds – CFA Institute
- Kolanovic: The VIX is low, strangely low – Get Ready For Vol – ValueWalk
- Banks warned to be more proactive in overcoming regulatory obstacles to payments – Euromoney
- EC calls for May deadline as stalemate over bank creditor hierarchy legislation sets in – Euromoney…there is likely to be implications of this further afield…
- The hole in Western finances – Economist
- Collapse of the Ruble zone and its lessons (pdf) – Bruegel…interesting read. The RUB zone was based almost solely on distributing Russian energy wealth, once that tailed off the RUB zone logic went with it…
- What happened to global banking after the crisis? – Bruegel
- Sovereign spreads in the Eurozone on the rise: Redenomination risk versus political risk – VoxEU
- Bill Gross: This could cause ‘hell’ to break loose in the global bond market – CNBC
- The Emerging Market Economies and the Appreciating Dollar – Economonitor
Global Macro
- Global Real Estate Valuation Froth? Some (Worrying) Napkin Math – ValueWalk
- How the world’s central banks have set interest rates since the financial crisis – in one chart – Telegraph
- Fed rate hikes could spell end to global easing – Reuters
- Mixed Signals from the Eurozone – Project-Syndicate
- Germany, the G20, and Inclusive Globalization – Project-Syndicate…someone needs to tell Wolfgang most global people think they’ve been excluded for a generation…
- The Return of Industrial Strategy – Project-Syndicate…not before time, presumably Australia will be last to cotton on…
- These G-20 trade talks could be pretty contentious
- Emerging Markets Blaze New Trails In Technology – ValueWalk
- “This Is Not The Reaction The Fed Wanted”: Goldman Warns Yellen Has Lost Control Of The Market – Zero Hedge
- Will the Proposed US Border Tax Provoke WTO Retaliation from Trading Partners? – Peterson Institute
- The Fed Acts. Workers in Mexico and Merchants in Malaysia Suffer. – NY Times
- The Incidence of the Border Tax – EU Multinationals Win, US Multinationals Lose – Economonitor
- Renegotiating NAFTA: What Happens Next? – Peterson Institute
- ‘Anonymous’ Joins Hacker Army Targeting Central Banks for Cash – Bloomberg
- Donald Trump is not turning his back on globalisation – he wants a free ride – SCMP
- US makes formal apology to Britain after White House accuses GCHQ of wiretapping Trump Tower – Telegraph…the world is getting weirder…
…and furthermore…
- You’re a completely different person at 14 and 77, the longest-running personality study ever has found – Quartz
- Car industry players diverge on timescale for self-driving cars – Reuters
- Economics isn’t ideology-free and it’s misleading to suggest it is – The Conversation…now they tell us…
- Embracing the bots: how direct to consumer advertising is about to change forever – The Conversation
- Gig economy companies trying to have their cake and eat it, say workers – Guardian
- This is how much it costs ‘Meals on Wheels’ to feed one elderly person for a year – Market Watch
- Why a lot of fancy math can’t help investors beat the market – Market Watch
- The Role of Fiscal Policy When Private Debt is High – Economonitor
- The Mist of Central Bank Balance Sheets – Economonitor
- The Mispriced Risk of Infectious Diseases – Project-Syndicate
- Benefits of importing: Evidence from US firms’ global sourcing decisions – VoxEU
- Revisiting the paradox of capital – VoxEU
- Unless you’ve lived without health insurance, you have no idea how scary it is – Vox…US experience underlines the importance of Medicare…
- Obesity crisis: Is this the food that is making us all fat? – BBC
- Google Enlists Humans To Assist Its Algorithm With Offensive Content – ValueWalk
- Here’s How Pharma Is Using AI Deep Learning To Cure Aging – ValueWalk
- Ethiopia Garbage Landslide Death Toll Reaches 113, With Some Possibly Still Buried In Trash – IB Times
- Cure For HIV, AIDS Found? Scientists Discover ‘Holy Grail’ Biomarker Capable Of Eliminating Virus Reservoirs – IB Times
- The astonishing Vision and Focus of Namibia’s nomads – BBC…fascinating read…
- Mass entertainment in the digital age is still about blockbusters, not endless choice – Economist
- How The Neanderthals Might Have Won …interesting…
- Big Tobacco Has Caught Startup Fever – Bloomberg
- The Dystopian Future of Price Discrimination – Bloomberg
- The Man Who Made Us See That Trade Isn’t Always Free – Bloomberg
- How to Restore Faith in Economics – Bloomberg
- The Wrongest Profession – RWER
- Understanding economic development and demolishing neoliberal development myths – WEA
- Women are less likely to “choke” under extreme pressure than men, a new study has shown – Quartz
- The next-generation operating model for the digital world – McKinsey & Co
- The dark side of transparency – McKinsey & Co
- How to play mathematics – Aeon
- A brilliant ‘geometric ballet’ of sound, shape and symmetry on the theme of 180° – Aeon
- Welcome to Terra Sapiens – Aeon….where we are…
- I’d Gladly Pay You Tomorrow For a Hamburger Today, If Only My Debit Card Weren’t Frozen – Longreads
- The World Is Completely Unprepared for a Global Pandemic – HBR
- THE LONELINESS OF THE SOLITARY JOB – New Yorker
- Your Company’s Culture is Who You Hire, Fire, & Promote – World Positive…most company’s culture kiss ass…
- The shorter working week can work – The Monthly…becomes more likely as an incentive in an era of no wage growth…
- Love and debt: How much does it matter to you? – CBS
- How employers ‘manage out’ unwanted staff – FT.com…the last thing they ever do is come straight out and tell them they aren’t wanted…