Links 6 March 2018

Global Macro / Markets / Investing:

• Why High-Yield Bonds Could Be Mispriced – Barron’s
• Semiconductors, Tech Stocks May Be at Risk If Trade War Broadens – Bloomberg
• Fund managers ‘asleep at the wheel’ over exorbitant executive pay – FT
• Crypto Investing Comes With a Big Risk: The Exchanges – WSJ
• The cacophony of central bank voices – VOX

Americas:

• Mueller’s hit list – Axios
• The “globalist” purge—inside the Oval’s most feral fight – Axios
• Currency markets send a warning on the US economy – FT
• Trump may prosper from tariffs even if this faded port town doesn’t – Washington Post
• Trump speaks with world leaders, no tariff exemptions: Commerce Secretary – Reuters
• Trump directs EPA to begin dismantling clean water rule – LA Times
• Trump’s Tariffs Prompt Global Threats of Retaliation – NY Times
• IMF warns Trump tariff would hurt US – BBC
• Many Trump Staffers Are Trying To Leave His Out-Of-Control White House – BuzzFeed
• ‘Pure madness’: Dark days inside the White House as Trump shocks and rages – Washington Post

Europe:

• Government let slip chance to retrieve £364m from Carillion – The Guardian
• EU Threatens Iconic U.S. Brands After Trump Opens Door to Trade War – Bloomberg
• Merkel wins backing for grand coalition – FT
• Merkel Wins Fourth Term as Germany’s SPD Backs Coalition – Bloomberg
• Freezing weather costs UK economy £1bn a day – The Guardian
• A triumph for George Osborne’s austerity plan? Not when our social fabric is in tatters – The Guardian
• Tories’ Brexit unity fades as Heseltine slams May’s speech – The Guardian
• Italy heads to polls with centre-right ahead but stalemate likely – Reuters
• The economic and political cost of UK austerity – Mainly Macro

Asia:

• China looks to avoid US trade war as Trump steps up rhetoric – FT
• Trump pokes fun — and makes North Korea news – Politico
• Trump on China’s Xi consolidating power: ’Maybe we’ll give that a shot some day’ – CNN
• Decades of optimism about China’s rise have been discarded – The Economist
• China’s Biggest Deal Maker Spent Billions. Now the Bill Comes Due. – NY Times

Trans-Tasman:

• Greens want $100 million pumped into video game development – The Age
• ‘Global deforestation hotspot’: 3m hectares of Australian forest to be lost in 15 years – The Guardian
• Revealed: the extent of job-swapping between public servants and fossil fuel lobbyists – The Conversation
• Housing costs: Young, poor pay the price for NIMBYism, says Grattan – ABC
• ‘They live like kings, we work like slaves’: Is franchising at a turning point? – The Age
• ‘Turnbull, stop treating us like mugs. Show us your plan’ – The New Daily
• Audit boss Tony Shepherd was paid $50,000 for secret government review – Canberra Times
• Tony Abbott turning up pressure on Malcolm Turnbull over Newspoll losses – ABC
• How migration affects housing affordability – The Conversation
• Housing risks ‘catastrophic’: Grattan Institute – The Age
• New trade agreement (TPP) could “expose taxpayers” to financial risk – The SMH
• Australian household recycling ‘at risk’ from China ban – Brisbane Times
• Australia is in for its coldest winter on record says weather expert – Daily Mail
• Time to fully decriminalise sex work – The Age
• How does the talk of ‘trade wars’ impact NZ? – Interest.co.nz