Succinctly summarizing the positive and negative news, data, and market events of the week...
Positives
- Moar slide shows? Jeff Bezos to purchase Washington Post for $250mm [9]
- US trade deficit lowest since October 2009, coming in at $34.2bn for June [10]
- US has no trouble raising $32bn in 3-yr notes [11], BTC ticks down
- How’d you do? Here are the number of days [12] JP Morgan lost money trading in the first half of the year
- Weekly initial jobless claims come in as expected at 333k [13]
- China’s July trade balance brings hope via imports, here’s a look under the hood [14]…
Negatives
- 40% of US workers earn less than 1968 minimum wage [15]
- Complacency in sovereign bonds? Italian Debt-to-GDP continues to get worse [16]
- Surprise! Equity fund flows aren’t driving equities higher [17]
- The $600bn US bank deleveraging [18] the no one is talking about
- Someone made a big bet on a spike in September ‘taper’ volatility [19]
- Lowest bid-to-cover since 2009 on the latest US 10yr issuance [20]
- Another bid-to-cover warning [21] as US issues another $16bn in 30yr paper
- Round and round we go: Ackman dumps JCP’s Ullman [22]
- Everything in Europe is fine - Here is why Italy keeps bailing out Monte Paschi [23]
- BNP warns that Japanese bonds have lost their ability to price risk [24]
- S&P continues to meet resistance at 1,700 [25]
- History repeats itself: investors set record levels of leverage [26]
Additional
- Dallas Fed’s Fisher: “We own a significant slice of critical markets [27]”
- Whom does Bill Gross read [28]?
- Trickle down hunger [29]
(h/t @ZH_Crown)