Quote of the day

Gatis Roze, “Despite what you might want to believe, it’s best not to go it alone as an unaccompanied soloist investing in the markets.”  (StockCharts Blog)

Chart of the day

A bum quarter for jobs growth.  (Real Time Economics)


The wall of worry, including falling industrial production, for the Summer enumerated.  (FT also Money Game)

The rally has been able to take out new breadth highs.  (Bespoke)

Higher grain prices equals higher feed costs for meat producers.  (FT)


CTAs had a rough June.  (Businessweek)

Don’t forget about the long cycle.  (Big Picture)


Yahoo! ($YHOO) and Facebook ($FB) kiss and make up.  (AllThingsD)

Amazon ($AMZN) reportedly wants to get into the phone business.  (Bloomberg)


Big changes are coming to the NYSE as it tries to compete.  (WSJ, MarketBeat)

Bank “living wills” not worth the paper they are printed on.  (Dealbreaker)

Which recent hedge fund book has a more realistic take on the industry: The Hedge Fund Mirage or The Alpha Masters? (Economist)


Dear traders: some one is always listening.  (WSJ)

The Libor market outgrew its humble origins…to ill effect.  (NYTimes)

Barclays ($BCS) is going to have to help change Libor procedures.  (FT)

It’s hard to see how banks ever regain public trust.  (Economist)

Looking for clusters in the Libor data.  (Aleph Blog)


The PBOC is “firing on all cylinders.”  (FT Alphaville also Sober Look)

France wants to raise taxes to fill its budget gap.  (Fortune)


Another disappointing non-farm payrolls number for June.  (Calculated Risk, Global Macro Monitor, Economist’s View, Daniel Gross, EconomPic Data, , Free exchange)

Looking at the data absent seasonal adjustments.  (Real Time Economics, Economix)

The household survey is diverging from the establishment survey.  (Modeled Behavior)

What do federal tax withholdings show?  (Big Picture)

Rail traffic is still mixed.  (Pragmatic Capitalism)

Earlier on Abnormal Returns

What you missed in our Friday morning linkfest.  (Abnormal Returns)

Mixed media

Higher college tuition has lead to higher college GPAs.  (Carpe Diem)

Has the US reached ‘peak car‘?  (Scientific American)

How elite swimmers swim.  (Wired)

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