Tuesday's News Links

[Bloomberg] Havens Advance as Missile Test Rattles Traders: Markets Wrap

[Bloomberg] States Mired in Budget Paralysis Defy Eight-Year Recovery

[MarketWatch] Car buyers stretch loan payments to record lengths to get in pricier vehicles

[Bloomberg] ECB's `Flexible' QE Model Falls Short on German Bond Purchases

[Reuters] China's shadow banking lacks sufficient regulation: central bank

[France24] Catalonia to declare immediate independence if 'yes' wins referendum

[Bloomberg] War or Recession Might Be Needed to Break Low-Vol, Goldman Says

[Bloomberg] Metals Trading Has a Paper Fraud Problem

[Bloomberg] North Korea Claims Its First Successful Launch of an ICBM

[CNBC] North Korea launches missile, likely hitting Japanese waters

[WSJ] Hedge Funds Flock to Europe, Thinking Worst Is Over

[FT] China is the biggest threat to Asian emerging markets

[Washington Post] China vows to step up air, sea patrols after U.S. warship sails near disputed island