Friday Links

China

• NYT: The Audacity of Chinese Frauds
• Chinese damage so far: $3.2 billion of halted U.S.-listed stocks.

Sovereign Debt

• Greek debt is still overpriced. One commenter observes, "In 2001 Argentina, markets consistently underestimated the risk and magnitude of default until the bitter end."
• "Being a bond bull in the current environment requires some dark thinking." We'll take that as a compliment.

Slowing Down

• "Economic Cycle Research Institute’s index of weekly leading indicators topped out in mid-April."
• Norway's Renewable Energy Corporation ASA (REC) will reduce production of PV wafers, cells and modules in response to the current market conditions.
• "Commuting is a migraine-inducing life-suck"