Links

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MacroBusiness Weekend links 20-21 January, 2018

Loading the Jinker, W Lister Lister, 1914 Art Gallery of NSW   Asia China pads GDP with spending boost before party congress – Nikkei Asian Review China’s economy grew 6.9 per cent in 2017, eclipsing official targets but doubts remain – ABC China asked Marriott to shut down its website. The company complied. – Washington

26

Links 19 January 2018

Global Macro/Investing/Economics Bond Traders Aren’t Immune to Automation, Goldman’s CFO Says – Bloomberg What 12 major analysts from banks like Goldman, JPMorgan, and Morgan Stanley think of bitcoin – BI Goldman Is Worth Less Than Morgan Stanley for the First Time in a Decade – Bloomberg How to reconcile risk sharing and market discipline in the euro area 

30

Links 18 January 2018

Global Macro/Investing/Economics Thermometer in world’s coldest village breaks as temperatures plunge to -62C – Telegraph Europe’s central banks are starting to replace dollar reserves with the yuan – QZ Study: Trump’s Presidency Has ‘Accelerated’ the Decline of Democracy Worldwide – Fortune BlackRock’s Message: Contribute to Society, or Risk Losing Our Support – NYT Did Bitcoin Just Burst? How It

5

Links 17 January 2018

Global Macro/Investing/Economics Researchers find that one person likely drove Bitcoin from $150 to $1,000 – Techcrunch Hedge Funds Are Making Money From Exotic Bets – Bloomberg The Momentum Game Has Returned to the Stock Market – WSJ The Dollar’s Decline Has a Flipside for Markets – WSJ Fiat Chrysler’s Marchionne: The Future of Cars Will Be Electric and Commoditized -Bloomberg

10

Links 16 January 2018

Global Macro/Investing/Economics The World Bank says it will redo its competitiveness rankings after unfairly influencing them for years: Political motivations of World Bank staff may have influenced the changes, and Chile may have been a target – Business Insider A few good (wo)men – on the representation of women in economics – Bruegel Bitcoin Is Headed Lower –

8

Links 15 January 2018

Global Macro / Markets / Investing: Iraq Joins U.A.E., Qatar in Call to Keep Oil Cuts – Bloomberg Tricks for Hanging On in a Melt Up – Behavioral Macro The 10 Companies That Dominate the Global Arms Trade – Visual Capitalist What the Data Tells Us About Bitcoin in 2017 – Coin Desk How a

308

Macrobusiness Weekend Links, 13-14 January 2018

The Intruder, Albert Tucker, 1964, Art Gallery of New South Wales   Macro, Markets & Investing Brent oil blasts through $70 as Iran showdown looms – Telegraph Visa and Dynamics Unveil the World’s First Wallet Card – DFA What’s $27 Billion to Wall Street? An Alarming Drop in Revenue – NY Times China Sets New

16

Links 12 January 2017

Global Macro / Markets / Investing: The prospects for a bitcoin ETF look dead in the water – MarketWatch This is how coal dies — super cheap renewables plus battery storage – Think Progress For New Fed Chief, Stock Boom May Bring Bubble Déjà Vu – WSJ Bond Traders Question the Bear Market – Bloomberg

13

Links 11 January 2017

Global Macro / Markets / Investing: Growing number of cryptocurrencies spark concerns – FT In Defense of Economic Populism by Dani Rodrik – Project Syndicate Libor Manipulator Didn’t Understand Libor – Bloomberg Ethereum Price Highs Overshadow New Wave of Tech Issues – Coin Desk The Challenges of Building Ethereum Infrastructure – Medium The failure of

18

Links 10 January 2018

Global Macro / Markets / Investing: “Risk Appetite” Indicator Hits All Time High As World Stocks Have Longest Ever Streak Without 5% Correction – Zero Hedge CEO Of Porn-Focused Cryptocurrency Disappears With Investors’ Money – Zero Hedge Blackstone’s new insurance unit targets $100 billion in assets – Reuters U.S. Equities Keep Shattering Records – Bloomberg

2

Links 9 January 2017

Global Macro / Markets / Investing: Blockchain To The Rescue Creating A ’New Future’ For Digital Identities – Forbes The Five Stages Of Not Owning Bitcoin Grief – Forbes Microsoft Halts Bitcoin Transactions Because It’s An “Unstable Currency” – Bleeping Computer At Davos, Elites Simulate the Refugee “Experience” – Vanity Fair Why 2017 Was the

47

Links 8 January 2017

Global Macro / Markets / Investing: Overstock Gets $100 Million from Soros Fund for Blockchain and More – CoinDesk Wanted: A Unifying Theory of Behavioral Economics – Bloomberg There Is No Such Thing as “the” Blockchain – Slate How to deal with climate change deniers: Price carbon! – VOX Why Trump Is Probably to Blame

277

Weekend Links 6-7 January 2018

Tree of Life, John Coburn, 1965, Art Gallery of NSW Macro Markets & Investing Can The Fed Really Boost Bond Yields? – RealInvestmentAdvice China has become the new Japan, as nation eschews coal for natural gas in its war on air pollution – SCMP Why Low Inflation Is No Surprise – Project-Syndicate DeLong ‘Melt-up’ coinage

24

Links 5 January 2018

Global Macro/Investing/Economics SEC warns bitcoin, cryptocurrency investors at risk – Reuters Making History By Doing Nothing – Collaborative Fund Cryptocurrency Hedge Fund BlockTower Raises $140 Million – Bloomberg Commodities Are on Their Longest Winning Streak in History – Bloomberg Household inequality and the consumption response to shocks – VOX Inequality, Imperialism, and the First World War – -Promarket   Americas Weekly

59

Links 4 January 2018

Global Macro/Investing/Economics A No-Name Solar Firm Is the Latest to Tap Blockchain Craze for 233% Rally – Bloomberg A Hedge-Fund Titan Puts Away the Punch Bowl – WSJ 9 ways the world got a lot better in 2017 – Vox (always look on the bright side of life…) The world is running out of a resource, and it’s

42

Links 3 January 2018

Global Macro/Investing/Economics Criminal Underworld Is Dropping Bitcoin for Another Currency – Bloomberg Peter Thiel’s Founders Fund Makes Monster Bet on Bitcoin – WSJ Who Are the Big Players in the Bond Market? Small Investors – WSJ The geopolitics of international currency choice – Vox The rate of return on everything – Vox Gold Is on Its Best Run Since 2011 –

79

Links 2 January 2018

Global Macro/Economics/Investing The Gambler’s Ruin of Small Cities (Wonkish) – NYT When Forecasters Get It Wrong: Always – NYT The best work on political economy in 2017 – WaPo “The markets are happy”: Why Wall Street didn’t panic about democracy under Trump – Apple News Major Banks Reportedly Just Began Freezing Accounts of Bitcoin Users – Freethoughtproject 2018 will be

22

New Years Chartfest, 2 January 2018

All picked up from Twitter or reading within the last week… GLOBAL MARKETS & MACRO Total Assets of Major Global Central Banks 2017 Best & Worst commodities 2017 Best & Worst Currencies USD – GBP, EUR JPY 2017 Asset Returns Global Bonds and Central Bank balances Commodities v Equities Global Bonds Outstanding   UST Yields

91

New Years Links, 1 January 2018

    The artist’s fairy floss sold on the merry-go-round of life (sucker dealer): sucker dealer and the righteous anus, 1991, Dale Frank, National Gallery of Victoria   China China Offers Tax Incentives to Persuade U.S. Companies to Stay – NY Times China puts US$15,000 annual personal cap on overseas bank card withdrawals – SCMP

269

Weekend Links 30-31 December 2017

  Global Macro/Markets/Investing A Princeton economist has a theory for why there are so few women in economics – Quartz Bitcoin ransom of $1m paid for cryptocurrency boss – FT A year in charts: From bitcoin to Trump and chess playing robots – FT Exmo Bitcoin exchange manager kidnapped in Kiev – Mr Lerner is a prominent Russian

98

Links 29 December 2017

Global Macro/Investing World’s Wealthiest Became $1 Trillion Richer in 2017 – Bloomberg I used to think people made rational decisions. But now I know I was wrong – The Guardian (you don’t say…) Bitcoin Drops as South Korea Says Exchange Closures Are Possible – Bloomberg Three Things That Will Never Change in Wealth Management – The Reformed Broker Ten

156

Links 28 December, 2017

Australian Beach Pattern, Charles Meere, 1940, Art Gallery of NSW   Markets, Macro & Investing Bitcoin bubble inflates again after pre-Christmas rout – Guardian China bourses behind Asia’s lead in global IPO boom – Nikkei Asian Review Copper Rallies to Three-Year High as China Plant Halts Output – Bloomberg Commodities Are ‘Screaming to Be Bought’

101

Links 27 December 2017

Global Macro China to Overtake U.S. Economy by 2032 as Asian Might Builds – Bloomberg Is Bitcoin Back? Cryptocurrency Passes $15,000 as Rebound Begins – Bloomberg Steven Cohen Plans a New Hedge Fund. Investors Are Wary. – NYT Big Tech: The New Predatory Capitalism – Prospect.org Israeli regulator becomes latest to crack down on bitcoin – FT   Americas Retailers

32

Boxing Day Chartfest, 26 December 2017

Libor – is there something up? 3 months UST  10 year UST US 10/2Yr to copper/gold US Income growth since 1980 Euro share inheritances Corporate Tax Rates     Currencies funding Bitcoin   Australian Auction Clearance Rates Reselling at a loss – Australia   Slum dwellers in Asia The growing global middle class     Australia’s

82

Christmas Day links, 25 December 2017

An early taste for literature, Charles Conder, 1888, Art Gallery of Ballarat Macro, Markets & Investing United Nations agrees more sanctions on North Korea, but is the world running out of options? – SCMP China, US can drive global growth despite policy differences, deputy finance minister says – SCMP LNG spot prices hit 3-year high

302

Weekend Reading: 23-24 December 2017

Global Macro / Markets / Investing: Bloomberg: Goldman Sachs to Setup Cryptocurrency Trading Desk – Coin Telegraph Goldman Sachs to set up cryptocurrency trading desk: Bloomberg – Reuters What Makes a Job Vulnerable to AI Automation? – VICE Who Will Bear the Brunt of Automation? – The Atlantic Now You Can Literally Get Fucked by

32

Links 22 December 2017

Global Macro / Markets / Investing: The creator of $17 billion cryptocurrency litecoin has sold his entire stake – Business Insider Bitcoin freeze as insider trading probed – BBC The Global Bond Market Is Having a Lousy Year-End – Bloomberg Intangible assets are changing investment – The Economist The bond market begins to figure things

25

Links 21 December 2017

Global Macro / Markets / Investing: Bitcoin Rebounds Sharply After Biggest Drop In 2 Weeks – Zero Hedge Buy, sell, send and receive Bitcoin Cash on Coinbase – Coin Base Why the bitcoin craze is using up so much energy – Washington Post The Economist reveals its country of the year – The Economist Bitcoin

49

Links 20 December 2017

Global Macro / Markets / Investing: Hedge Fund Pro Bill Miller: ’Just About 50 Percent’ Invested in Bitcoin – Coin Desk The Real Danger To Civilization Isn’t AI. It’s Runaway Capitalism – BuzzFeed Warren Buffett’s Berkshire Hathaway Hits $300,000 a Share – WSJ Berkshire Hathaway ‘A’ Shares Reach $300,000 for First Time – Bloomberg The

12

Links 19 December 2017

Global Macro / Markets / Investing: All You Need To Know About Today’s CME Bitcoin Futures Contract Launch – Zero Hedge Is Bitcoin Just For Fun? – Forbes Cryptocurrency jobs are popping up like crazy – The Next Web Bitcoin Takes Bigger Wall Street Stage With Smooth CME Debut – Bloomberg Bitcoin Fees Have Become