The Week That Was: August 5th - 9th 2013

Succinctly summarizing the positive and negative news, data, and market events of the week...

Positives

1. Moar slide shows? Jeff Bezos to purchase Washington Post for $250mm
2. US trade deficit lowest since October 2009, coming in at $34.2bn for June
3. US has no trouble raising $32bn in 3-yr notes, BTC ticks down
4. How’d you do? Here are the number of days JP Morgan lost money trading in the first half of the year
5. Weekly initial jobless claims come in as expected at 333k
6. China’s July trade balance brings hope via imports, here’s a look under the hood…

Negatives

1. 40% of US workers earn less than 1968 minimum wage
2. Complacency in sovereign bonds? Italian Debt-to-GDP continues to get worse
3. Surprise! Equity fund flows aren’t driving equities higher
4. The $600bn US bank deleveraging the no one is talking about
5. Someone made a big bet on a spike in September ‘taper’ volatility
6. Lowest bid-to-cover since 2009 on the latest US 10yr issuance
7. Another bid-to-cover warning as US issues another $16bn in 30yr paper
8. Round and round we go: Ackman dumps JCP’s Ullman
9. Everything in Europe is fine - Here is why Italy keeps bailing out Monte Paschi
10. BNP warns that Japanese bonds have lost their ability to price risk
11. S&P continues to meet resistance at 1,700
12. History repeats itself: investors set record levels of leverage

Additional

• Dallas Fed’s Fisher: “We own a significant slice of critical markets”
• Whom does Bill Gross read?
• Trickle down hunger

(h/t @ZH_Crown)