Thursday morning links

TOP STORIES
China central bank surprises with yield hike - Reuters
Fed Minutes Show Division on Emergency Steps - NY Times
State Tax Revenue in U.S. Drops Most Since 1963 - Bloomberg
2009 Review & 2010 Preview: Bailouts Have Costs - McHugh, TBP
CMBS delinquencies pass 6 pct for first time - Reuters
Does Boycotting Big Banks Make Sense? - Slate
Jobs bill on Senate docket - CNN/Money
Let’s Get Fisical - Gross, Pimco

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MARKETS/INVESTING
Oil falls below $83 as month-long rally stalls - AP
Gold retreats from three-week high as dollar recovers - Reuters
Bad news for the stock market: retail investors are flooding back - Telegraph
Black Swans Abound as Year of Tiger Shows Teeth - Bloomberg
Bull Run at Risk of 20% Corrections: Mobius - CNBC

ECONOMY
New jobless claims rise less than expected - AP
Expect Double Dip in Second Quarter: Economist - CNBC
Why the government's job figures won't add up - NY Post
St. Louis Fed Opens The "Inflationary Dragon" Pandora Box - Zero Hedge
Small companies shed another 25,000 jobs - CNN/Money
Services sector grows in December - Reuters

INTERNATIONAL
Bank of England keeps rates at record low - Telegraph
Bank of England: the calm before the storm - Conway, Telegraph
More On China’s Frothy-Looking Housing Market - Naked Capitalism
Euro brinkmanship escalates as ECB shuts door on Greek bail-out - Telegraph
China cold wave hits power supply to some industrial users - MarketWatch
More proof if it is neededthat Ireland is not Iceland - Irish Times
Iceland president says country will pay UK government - BBC
British house prices end the year 1.1% higher - TimesOnline

REAL ESTATE
Housing Markets Most Likely to Have Hit Bottom - CNBC
HAMP Second Lien Modification Program “On Hold” - Calculated Risk
Are Principal Writedowns the Answer to Housing Crisis? - Olick, CNBC
Pending home sales in the West fare better than the rest of the country - LA Times

FED/TREASURY/BANKING
Some at Fed See a Need to Do More for Housing - NY Times
FOMC Discussed Expanding Purchases If Economy Weakens - Bloomberg
Banks Decline Yield Curve Invitation to Party On - Baum, Bloomberg
Some on FOMC think more will be needed - MarketWatch
Bernanke and the bubble - Krugman, NY Times

INTERESTING
Loan sharking datapoints of the day - Salmon, Reuters
Nobody Has A Million Twitter Followers - Dashes
How to combat the natural tendency to procrastinate - Economist
Salvation Army left short of cash by fake SC check - AP

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