Queen’s Birthday Holiday Links

Global Macro / Markets / Investing:

• How Low Has the Dollar Sunk? Even Some Rappers Prefer Euros – WSJ
• Why Talk of Bank Capital ‘Floors’ Is Raising the Roof – IMF
• Are the Super-Rich Really Ruining the World’s Great Cities? – HBR
• Returns to Scale and Imperfect Competition in Market Equilibrium – Supply-side Liberal
• Vladimir Putin Is Getting Interested in Bitcoin’s Biggest Rival – Bloomberg

Americans:

• Trump’s in trouble after that Jim Comey hearing – NY Post
• Republicans’ emerging Trump defense: A naif in the Oval Office – Washington Post
• Comey Bluntly Raises Possibility of Trump Obstruction and Condemns His ‘Lies’ – NY Times
• Comey: White House lied about me, FBI – Washington Post
• House passes sweeping bill to strip back financial rules – The Hill
• House passes sweeping legislation to roll back banking rules – Washington Post
• Comey’s testimony both debunks and confirms previous reporting – Politico
• The Myth of the Indebted American – WSJ
• Jobless claims drop; labor market slack shrinking – Reuters
• Fed’s Flow of Funds: Household Net Worth increased in Q1 – Calculated Risk
• America is a world leader in health inequality – Washington Post
• Household net worth climbed by $2.3 trillion in first quarter – Market Watch
• All eyes on Venezuelan military as country teeters – AP

Europe:

• Betfair now has Jeremy Corbyn as favourite to be the next PM – City AM
• Labour wins seat it hasn’t held for 600 years – The Independent
• Exit Poll Puts Theresa May’s Tories 12 Seats Short Of Overall Majority – Buzz Feed
• Theresa May in Danger of Losing Her Majority in U.K. Parliament – NY Times
• British Pound Falls After Exit Polls Predict Hung Parliament – WSJ
• What is happening? Possibly one of the biggest upsets in British political history – The Independent
• Jeremy Corbyn just became favourite to become prime minister – The Independent
• Nicola Sturgeon: I will help Jeremy Corbyn become Prime Minister in a hung parliament – Telegraph
• Germany starts granting humanitarian visas to Chechen gays – AP
• Spanish bank rescue poses several big questions – Breaking Views
• Macron’s invitation for US climate scientists to move to France has been officially launched – Quartz
• Mario Draghi Moves ECB in Ultraslow Motion – WSJ
• IMF Weighs Greek Loan That Would Release Funds After Debt Relief – Bloomberg
• May plans post-election offer on citizens’ rights – Politico
• A manifesto for economic research in Europe – VOX
• Austerity has strangled the British economy. Only Labour gets this – The Guardian

Asia:

• Gold Imports by India Jump Fourfold as Tax Fear Spurred Stocking – Bloomberg
• China May imports, exports unexpectedly speed up but seen fading – Reuters
• Behind the Great Firewall, the Chinese Internet Is Booming – WSJ
• How China’s Biggest Bank Became Wall Street’s Go-To Shadow Lender – Bloomberg
• N. Korea fires multiple ballistic missiles: S. Korean military – Yonhap
• South Korea Suspends Deployment of U.S. Antimissile System – NY Times
• Not Just the FANGs: China’s Tech Rally Has More Bite – WSJ

Trans-Tasman:

• Centrelink robo-debt program blamed for 50 per cent rise in legal challenges – Canberra Times
• Chris Bowen attacks universal basic income as ‘payments to millionaires’ – The Guardian
• Labor signals plan to beef up union power to help boost wage growth – The Guardian
• Matt Canavan got roasted online after the Adani announcement – Huffington Post
• ‘Coles admits to underpaying most of its workforce’ – The Age
• Media watchdog rules secret Pauline Hanson recordings ok – The SMH
• Australians want focus on renewables not coal, Lowy poll finds – The SMH
• Finkel review anticipates lower power prices, but weak electricity emissions target – The Guardian
• A giant Chinese humanoid startup is opening an AI centre at University of Sydney – Business Insider
• Adani’s Carmichael coal mine green light raises more questions than answers – ABC
• Sydney commuters have had enough: ‘It’s f***en tough’ – News
• Commuters forced to park so far away from train stations that they need an Uber to drive them between the station and their car – Daily Telegraph
• Ministerial code of conduct fails pub test, Nick Xenophon says – The Guardian
• Unprecedented interest in NZ commercial property from overseas investors – Interest.co.nz