Wednesday Evening Links

[Bloomberg] The Most-Crowded Trades Come Undone in Markets Roiled by Europe

[Dow Jones] Brazil Central Bank Raises Benchmark Interest Rate to 13.25%

[Reuters] Moody's Cuts Greece's Rating to 'Caa2' as Uncertainty Rises

[Bloomberg] China Banks’ Worst Year Since 2004 Seen as ICBC’s Bad Loans Jump

[Bloomberg] Analysts Cut Their Q2 GDP Forecasts Even More After Today's Ugly Report

[NYT, Appelbaum] Fed Expects Moderate Growth, Blaming Weather for Slowdown

[Bloomberg] Gross Sees No Liquidity in Bonds as Small Trades Move Market

[Bloomberg] There Was Another Huge Move in German Bunds Today

[Reuters] Images show North Korea nuclear reactor may be operating again: experts

Wednesday's News Links

[Bloomberg] Fed Says Economy Slowed in Winter as June Liftoff Odds Drop

[WSJ, Hilsenrath] Fed Stays Vague on Rate-Hike Timing, but Sees Slower Growth as Blip

[Bloomberg] Markets Are Making Big Moves all Over the Place Today

[Bloomberg] Dollar Falls With S&P 500 Futures on Economy; Europe Bonds Slide

[Bloomberg] Dollar Weakens to 2-Month Low as Growth Slows More Than Forecast

[Bloomberg] Economy in U.S. Stalls on Slump in Business Spending, Exports

[Bloomberg] Euro-Area Bonds Slide as Gundlach Turns on Bunds, Joining Gross

[Reuters] European shares follow Asia lower, dollar weak before Fed

[Bloomberg] Bernanke Joins Pimco; Second Consulting Job in Two Weeks

[Reuters] Fed meeting seen as chance to nudge markets on rate hike timing

[Bloomberg] Fed Decision Day Guide: From Cooling Economy to Forward Guidance

[Bloomberg] America’s Student Debt Pain Threatening a Corner of Bond Market

[Bloomberg] Greek Banks Count on More ECB Cash as Bailout Talks Drag On

[Reuters] Absence of contagion changes whole Greek game

[Reuters] Eurogroup's Dijsselbloem says Greece will not make it without aid

[Bloomberg] Rule No. 1 in China’s Bull-Market Rally: Don’t Look at Earnings

[Bloomberg] In China, Focus of Monetary Easing Turns to Surgical Strikes

[Bloomberg] China Is Set to Lose Manufacturing Crown

[Bloomberg] Thailand Unexpectedly Cuts Rate After Growth Forecast Cut

[Bloomberg] Riksbank Increases Bond Purchases as Key Rate Left Unchanged

[Bloomberg] Draghi’s ECB Seen Needing Yellen Support as Investors Hoard Debt

[Bloomberg] Austria Has Its Own Little Greece to Deal With

[Bloomberg] Euro-Area Bank Lending Increases for First Time Since 2012

[NYT] Income Inequality Is Costing the U.S. on Social Issues

[Bloomberg] Saudi King Cements Power Around Next Generation in Court Shuffle

[Reuters] Houthis advancing into Yemen's Aden kill 12 civilians: residents

[Reuters] China fires back at South China Sea claimants with reclamation accusations