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Tuesday, August 2

2nd August EARLY - more of the same

Summary & View: Unchanged from Sunday: everything getting plain worse – except my track record. Hire me.

Quote of the day: “The Italy sovereign cds has soared +114 bps in 7 days. The Spain and France sovereign cds are making new record highs today. Italy is right near an all-time high. The Eurozone Financial Sector CDS Index is very close to record highs, as well.”

(coming) Joke of the day: “Expect a "stern warning" from ECB president Jean-Claude Trichet soon. Also expect the market to laugh in his face.” Mike Shedlock via Mish’s Global Economic Trend Analysis


BNP Paribas’ analysis

Eurozone still burning, this column asks how it started – in three phases. Good read.


Wonkbook: A terrible, no-good, very bad deal – Ezra Klein / Washington Post

U.S. yield products, swap spreads etc. charted in every possible way.
SSA Daily Chartbook – August 1, 2011 – Stone Street Advisors

The US budget dilemma in context – Humble Student of The Markets

The GDP revisions explain the slow recovery fully

Long and pretty picture of an ugly topic


Not a lot of quality in developed world to invest in
China’s Dollar Problembric breaker / Forbes

GS Asset Management’s chair Jim O’Neill on brics
Ready for a BRIC Century – The Moscow Times

Senior Chinese think tanker Wang Yusheng sounds very strange, and therefore this is a must read, as it reflects the actual will of Beijing. I leave further conclusions to the reader.

Did you know that over half of Citigroup’s profits come from emerging countries?

Good and quick look at historical P/E, inflation and stock market performance
Crestmont Market Valuation Update – Advisor Perspectives