Felix Salmon

Counterparties

Greg Mankiw is right about Treasury bonds — Mankiw

Bill Keller, previewing his column: “It won’t be a media column (at least mostly not), and it won’t be an op-ed column (no unfettered opinion)” — WWD

Bill Keller’s blind spots

Bill Keller, who proposes that Twitter makes you stupid and says that allowing a 13-year-old onto Facebook is like passing her a pipe of crystal meth, has responded to my last post about him in an email to Steve Myers:

Chart of the day, sovereign credit spreads edition

Remember the Pimco chart which showed emerging countries trading through the G7? Turns out it was a mistake: Pimco was using the SovX Western Europe index, and not the SovX G7 index that it referenced in the relevant footnote.

The IMF oddsmakers

The Economist has one list of William Hill odds for who’s going to succeed Dominique Strauss-Kahn as managing director of the IMF; William Hill itself has a slightly different list. I would be much obliged if a reader in the UK would please pop down to William Hill for me and place a lot of money on Christine Lagarde at 20-1, as she’s listed on the William Hill site, or even at 14-1, where the Economist has her.

Worrying about aggregators

This is what happens when high-minded journalists like Lauren Kirchner and David Plotz talk to each other:

Why the online-poker crackdown makes sense

Steven Levitt isn’t very good at introspection. “I was outraged a few weeks back when the U.S. government cracked down on internet poker,” he writes, adding that “it took me a while to figure out why.” Well, I can tell him why he was outraged: he’s a gambler (he’s especially fond of the horses), and gamblers don’t like it when the government cracks down on gambling.

The Port Authority’s good deal with Condé Nast

Many congratulations to the Port Authority of New York and New Jersey, which is about to snare the most glamorous and high-profile anchor tenant possible for its flagship 1 World Trade Center property. But the Port Authority is getting more than just the whiff of high fashion here. Charles Bagli reports that Condé Nast is going to pay “an estimated $2 billion over 25 years” for 1 million square feet in the building: that’s a lot of money.

Counterparties

Greece: it’s “soft restructuring” time! And no, no one has a clue what that might mean — Reuters

Adventures with debt-ceiling politics

As the debate over the debt ceiling has heated up over the past month, the yield on the ten-year bond has plunged, from 3.57% on April 11 to 3.12% today. This is not a market which fears catastrophe come August 2. So it’s easy to see why Republicans simply don’t believe Tim Geithner when he tells them that if the debt ceiling isn’t raised by then, we will have some kind of macroeconomic Armageddon.