Book review: Why being a central banker is so difficult these days. Insights from Mohamed El-Erian’s The Only Game in Town: Central Banks, Instability and Avoiding the Next Collapse. (FT)

Quote of the Day

"(W)e are a long way from the quiet despair that has so often been a sign that stocks have finally reached bargain prices."

(Jason Zweig)

Chart of the Day

The percentage of S&P 500 stocks below their 50 day moving average is at a significant oversold level. (via @JackDamn)