Monday morning links

TOP STORIES
HSBC Says Asia Will Slow, First-Half Profit Fell 29% - Bloomberg
S&P’s Rating Concerns: “Structured by Cows” - HousingWire
Tropical Storm Edouard gains strength - MarketWatch
Riches to Rags - New York Times
Why Gold is losing its sheen - CommodityOnline

MARKETS
Oil steady near $125 on Gulf of Mexico storm - AP
Stocks could bottom out soon - USA Today
Deutsche calls the top of the commodity cycle - Telegraph
Platinum falls to 6-month low on demand fears - Reuters

ECONOMY
Worst inflation in 27 years trumps tax rebates - MarketWatch
In US, gas prices mean more riders, fewer buses - AP
Economic Free Fall? - The Nation

HOUSING
Report: Distressed RE Nears 20 Percent of Nationwide Sales - HousingWire
LA foreclosures spread to Malibu, Santa Monica - Reuters
Housing Lenders Fear Bigger Wave of Loan Defaults - NY Times
`Leveraged Bailout' Won't End Mortgage Madness - Bloomberg

FED/TREASURY/BANKING
Fed to sit tight on rates as oil prices moderate - Reuters
Banking: Purchases trigger overdraft fees before they clear - USA Today
Rolling Recessions Bring Paralysis to Bernanke, King, Trichet - Bloomberg

INTERNATIONAL
World stocks slip as HSBC weighs; oil falls - Reuters
Fannie Mae's Mudd Soothed Asian Investors as Bond Yields Rose - Bloomaberg
China's Inflation Is Harder to Control Than Web - Bloomberg
UK construction activity tumbles to record low - Guardian
The faster house prices fall, the better off we'll all be - Telegraph
Iran to offer oil, gas projects to draw investors - Reuters

INTERESTING
Disney World raises ticket prices - report - Reuters
Schlitz returns, drums up nostalgic drinkers - AP