Macro & Markets

• The War Against Financial Crimes: a Global System that Needs Restructuring – Guardian Mag
• Pandemics make us more averse to inequality – VOX
• Oil hits one-month highs as IEA, OPEC raise forecasts – Reuters
• The impact of COVID-19 on artificial intelligence in banking – Bruegel
• The U.S. Has a Moral Obligation to Forgive the World’s Debts – Current Affairs
• A Commonsense Corporate Tax – Project-Syndicate
• Build Back the State – Project-Syndicate
• Geopolitics makes the Russian ruble rate highly volatile – BNE
• Is Stagflation Coming? – Project-Syndicate, Roubini
• What’s Behind the Big Bond Rally? It’s Counterintuitive. – Bloomberg
• How the chip shortage got so bad — and why it’s so hard to fix – Nikkei Asia
• US exit from Afghanistan underscores pivot from terror to China – Nikkei Asia
• Brown assets might be the next subprime – VoxEU
• Scientists Create Early Embryos That Are Part Human, Part Monkey – NPR

Americas

• U.S. Housing Market Is Nearly 4 Million Homes Short of Buyer Demand – WSJ
• US jobless claims plunge to 576,000, lowest since pandemic – AP News
• Pace of U.S. economic recovery accelerates, Fed says – Reuters
• The Biden Administration Is Quietly Keeping Tabs on Inflation – NY Times
• U.S. imposes wide array of sanctions on Russia for ‘malign’ actions – Reuters
• U.S. preparing for 1-year COVID-19 booster shots; Pfizer chief sees need – Reuters
• US expels Russian diplomats, imposes sanctions for hacking – AP
• With layoffs down and spending up, US rebound gains momentum – AP
• Powell defends Fed’s consideration of climate change risks – AP
• Pfizer’s CEO believes people will need COVID-19 vaccination shots every year – MarketWatch
• Tax cheats cost the U.S. more than previously thought — and Bitcoin is part of the problem, IRS commissioner says – MarketWatch
• How Much of China’s GDP Was Made in America? – Bloomberg
• What’s behind the push for a fourth stimulus check – CBS News
• Average price of Canadian home rising at fastest annual pace ever, now up to $716,828 – CBC
• America Has Pandemic Senioritis – Slate
• Can Amazon Be Stopped? – Washington Monthly
• Obituary for America’s war in Afghanistan – Asia Times
• Bank CEOs to testify as U.S. Congress ramps up scrutiny of Wall Street – Reuters

Asia

• Chinese Economy Grew More Than 18% in First Quarter – WSJ
• China’s Very Bad Bank: Inside the Huarong Debt Debacle – Yahoo
• China’s Q1 yuan-denominated exports surge 38.7% y/y, imports up 19.3% – Reuters
• China says its economy grew 18.3% in the first quarter, slightly missing expectations – CNBC
• Romania approves bill to bar China, Huawei from 5G networks – Reuters
• China’s Q1 GDP grows at record pace as recovery speeds up – Reuters
• China’s home price boom spreads to more cities as investors defy curbs – Reuters
• Xinjiang: will the West’s sanctions on China force the issue or unravel? – SCMP
• China GDP: economy surged record 18.3 per cent in first quarter compared to a year earlier, but slowed versus fourth quarter – SCMP
• China’s growth surges to 18.3% but rebound leveling off – AP
• China population: birth control policies should be scrapped to retain economic edge over US, says central bank – SCMP
• China Steel to hike prices for 11th straight month – Taipei Times
• China’s Economy Soars by Record a Year After Pandemic Slump – Bloomberg
• China’s Economy Is Booming. Shoppers Are Skittish Anyway. – NY Times
• Is India planning to spy on Chinese submarines from the Andamans, with a little help from Japan? – SCMP…you betcha…

Europe

• Biden to bar U.S. banks from buying Russian government rouble debt in primary markets – Reuters
• Europe’s low-tax nations braced for struggle over US corporate tax plan – FT
• The EU is considering a ban on AI for mass surveillance and social credit scores – The Verge
• City of London Brexit hit worse than expected, says study – Reuters
• German constitutional court strikes down Berlin rent cap – Politico
• Brexit Led Over 440 Finance Firms to Shift Some Business to EU – Bloomberg
• Poland deploys troops close to Belarusian border in response to crackdown on Polish minority – BNE
• Turkey’s grand canal plan is dividing the nation – Asia Times
• ‘Coiled spring’: The UK’s economic surge has taken the world by surprise – Ninefax, AEP
• The race to be Germany’s next chancellor is also a race to define its evolving political centre – New Statesman
• Rethinking the EU’s Fiscal Framework – Project-Syndicate
• Is it time Germany opened up its stores on Sundays? – DW
• Hong Kong: Britain must prepare now for a great wave of immigrants – Prospect
• Fixed mortgage rates are at record lows, so is it time to consider fixing your home loan? We asked the experts – ABC

Terra Specufestor

• Australian Conservatives Are Using Religious Faith as a Cover for Misogyny – Jacobinmag
• Taxpayer-funded aged care homes funnelled tens of millions into church coffers, ABC investigation finds – ABC
• Australians warned to prepare for ‘1,000 virus cases a week’ when international borders reopen – SBS
• Christine Holgate gets her own bully pulpit — and uses it to effect on Morrison’s weak spot – ABC
• Liberal party says rival New Liberals will cause ‘widespread voter confusion’ – The Guardian
• The gas-fired recovery swindle – Independent Australia
• Federa Court found Google misled consumers about the collection and use of location data – ACCC
• Adelaide Uni shuts down for week after pandemic hits bottom line – InDaily
• ‘Great polarisation’: Morrison warns authoritarian countries are threatening liberal democracies – The Age
• Quarantining at home on the agenda for travelling Australians – The SMH
• ‘There will be bankruptcies’: Mascot Towers owners urged to sell as developers circle – ABC
• ‘RBA house price model’ predicts 25pc rise by 2023 – AFR
• ‘Mighty bleak’: economists warn delay in vaccinating Australians could devastate tourism – Guardian
• Jobkeeper doubled return for investors compared with companies that did not have subsidy – Guardian
• House prices in Australia are soaring, but not because there aren’t enough homes – ABC
• Mascot Towers owners urged to sell as developers express interest in demolishing beleaguered block – ABC
• Greek Orthodox Church took tens of millions in rent from aged care home at centre of deadliest COVID outbreak – ABC
• Australia finds Google misled customers over data collection – regulator – Reuters
• ANZ’s Elliott sees best economic conditions in six years – Ninefax
• ‘Supply is restricted’: NAB chief calls for faster housing approvals – Ninefax
• Yes, Minister, you can entice our best and brightest into teaching. You will have to pay them more – Ninefax
• ‘I can’t sleep’: Household debt escalates as Victorians struggle to pay bills – Ninefax…that would be a direct result of bipartisan energy policy since the early 2000s, wouldn’t it?…
• NSW woman’s death ‘likely’ linked to COVID-19 vaccine: TGA – Ninefax

…and furthermore…

• Regional house price growth ranged from 9.3% to 37.7% in March year – Interest.co.nz
• Ten years of study, still languishing on productivity – Interest.co.nz
• RBNZ leaves interest rates unchanged as expected – Interest.co.nz
• National proposes dangling cash before councils to incentivise more building consent issuance – Interest.co.nz
• Cannabis as a Consumer Staple – Bengal Capital
• Madoff and me: How I lost my father to the world’s biggest Ponzi scheme – New Statesman
• Long-distance love: The couples torn apart by Covid – New Statesman
• Mass legal action against Facebook over data breach – RTE
• Why work lost its worth – New Statesman
• How Bernie Madoff Fooled the World – Bloomberg, Authers
• ‘It’s a Roller-Coaster Ride’: Global Chip Shortage Is Making Industries Sweat – NY Times
• Sanctions on Russian Debt Are Called a ‘First Salvo’ That Sends a Message – NY Times
• John Williamson, 83, Dies; Economist Defined the ‘Washington Consensus’ – NY Times
• The pandemic’s impact on our world is only just beginning – Vox
• How free trials trick you into thinking you’ll get something for nothing – Vox
• Pandemics make us more averse to inequality – VoxEU
• A solution to the mystery of excess trade balances – VoxEU
• Economic recessions and age discrimination – VoxEU
• The impact of COVID-19 on artificial intelligence in banking – Bruegel
• Are Unemployment Benefits Really Making It Impossible for Restaurants to Hire? – Slate
• Modern Communication’s Big Open Secret – Slate
• The road from Rome: The fall of the Roman Empire wasn’t a tragedy for civilisation. It was a lucky break for humanity as a whole – Aeon
• Brain wifi: Instead of a code encrypted in the wiring of our neurons, could consciousness reside in the brain’s electromagnetic field? – Aeon
• Demand for rare-earth metals is skyrocketing, so we’re creating a safer, cleaner way to recover them from old phones and laptops – The Conversation
• Male fertility: how everyday chemicals are destroying sperm counts in humans and animals – The Conversation
• Iron ore price jumps on big spread between spot cargoes and futures – Mining.com
• Wunderkind’s alleged $970 million fraud jolts Singapore – Ninefax
• Post-Covid economics: How the virus could kill off our damaging debt delusions – Prospect
• Zoomed out: the surreal nonsense of the online meeting cannot end soon enough – Prospect
• I Called Off My Wedding. The Internet Will Never Forget – Wired
• Gnome shortage: Lockdown and Suez canal blockage blamed – BBC

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