Tuesday morning links

TOP STORIES
Russian President Halts Military Action in Georgia - Washington Post
IEA nudges up 2009 oil demand view, sees price concerns - MarketWatch
JPMorgan Loses $1.5 Billion Since July on Debt Prices - Bloomberg
Gasoline prices tumble in U.S., California - LA Times
Sovereign Funds Become Big Speculators - Washington Post
Fannie Mae, Freddie Mac Preferred Stock Cut by S&P - Bloomberg

MARKETS
Oil falls to $113 in Asia on stronger dollar - AP
Gold, Platinum Lead Commodities Into Bear Market on Growth Risk - Bloomberg
Undaunted gold bug Murphy looks to East - MarketWatch
Corn, Soybean Reports Show `Ideal' Weather Lowering Flood Loss - Bloomberg
Investors jump ship from gold market - Reuters

ECONOMY
June trade deficit shrinks to $56.8 billion - AP
America needs a 'Good Depression' - MarketWatch
Study: Numbers of working poor increases - USA Today

HOUSING
The next wave of mortgage defaults - CNN/Money
Many U.S. Homeowners Owe More Than House Is Worth, Zillow Says - Bloomberg
In California, foreclosure's next wave? - Christian Science Monitor

FED/TREASURY/BANKING
Credit squeeze getting worse, banks say - MarketWatch
Federal Reserve finds deepening credit crisis - AP
The Fed has bias toward slower economic growth - NY Post

INTERNATIONAL
U.K. Inflation surges to 15-year high - Guardian
House sales drop to lowest level on record - Telegraph U.K.
Ruble, Russian Stocks Surge as Medvedev Halts Georgia Offensive - Bloomberg
Pakistan Inflation Accelerates to Fastest in 30 Years - Bloomberg
China's July inflation eases to 6.3 percent - AP

INTERESTING
Most companies in US avoid federal income taxes - AP
GM offers more fuel-efficient pickup trucks, SUVs - AP