Hope all goes well… Enroute from Argy. Snuck in all sorts of meetings before they shut the joint down for World Cup. Back next Sunday with full weekend notes. In the meantime, dusted off a futbol anecdote from early last year (see below). Week-in-Review: Mon: China trade +7.0% (+6.6 exp), Japan Q1 GDP +6.7% qoq (Q2 exp -4.0%), Japan Apr C/A surplus Y187bln (3rd mthly surplus), S&P +0.1%; Tue: China May PPI -1.4%

Week-in-Review: Mon: China trade +7.0% (+6.6 exp), Japan Q1 GDP +6.7% qoq (Q2 exp -4.0%), Japan Apr C/A surplus Y187bln (3rd mthly surplus), S&P +0.1%; Tue: China May PPI -1.4% yoy (CPI +2.5%), CNY fixes 3mth high, Aussie biz confidence rises, Italy Apr IP +1.6% yoy, US Apr wholesale inventories +1.3% (+7.8% yoy), Cantor loses Republican primary, S&P flat; Wed: World Bank cuts 2014 global GDP to 2.8% vs 3.2%

“I was moved to tears by the sunset on Maui,” said my buddy. “Everything I felt was in the extreme, like a child.” He and two others set off to complete 5 Iron Mans in 5 days. He’d finish one, drive to the airport, sleep 20mins inflight to the next island, drive to the ocean, and jump in. For another 2.4 mile swim, 112 mile bike, and 26.2 mile marathon. “Never knew it was possible to sleep so little – this is about u

Hope all goes well… “Hard to find cheap stocks for the wrong reasons,” admitted the global strategy head for some too-big-to-fail bank, far from home. “But there’s something wrong in a system where money needs to be free,” he said – I think. You see, yet another LaFerrari had just rumbled into valet at Nobu, Malibu. “Yet in the real economy, even at zero, no one’s really borrowing, lending, spending.” Another s

Mario mounted the mantel. Perched precipitously. And stared into the mirror. “Would you tell me please, which way I ought to go?” he asked his curious reflection. “That depends a good deal on where you want to go,” replied Cheshire cat, from within the Looking-Glass. “I don’t much care, so long as I get somewhere,” said Draghi, rather surprised. And Cheshire grinned slyly, luring the world’s first major central banke

Hope all goes well… “Here with the kiddies for the paddle-out, crying,” texted Mara. I paused, in Times Square, opened the photos. Thousands headed into the Pacific, with their surfboards. At sunset. Carrying flowers. To honor the slain UC Santa Barbara kids. The surfers formed a vast circle. Tossed flowers into the middle. And sang in sad celebration of the young lives. Lost. Overall: “The focus should be on minimum

“The focus should be on minimum government but maximum governance,” announced Narenda Modi, a fierce Hindu Nationalist, born the low-caste son of a tea stall owner. India’s 15th Prime Minister presides over the 1st parliamentary majority in 25yrs, paving the way for red-tape reform. Of course, India is the great hope for a planet starved of growth. For the next decade, 1mm Indians will join the workforce each and eve

“The Fed is desperate to raise rates,” said the macro CIO, having another great year. It’s become his habit. “I don’t think any of those guys really understand what creates inflation; they dogmatically cling to the idea that the Philips Cure drives price changes,” he continued, amazed, appalled. “Any freshman year statistics student knows there’s no statistical relationship between unemployment and inflation.” Of cou

“We are alert to any dangers and problems,” announced David Cameron, having created the dangers and problems. You see, he invented the “Help-to-Buy” program, aka “Blow Me.” Allowing UK homebuyers 5% down payments, while he guarantees the balance. Naturally, consumers and banks, sensing a one way bet, blew a bodacious bubble. Which was the point. And as UK business investment hit 2008 highs (+8.7% yoy), Carney warned

“People say I have a terrible accent, that I sound like some guy from Brooklyn,” he said, with a terrible Brooklyn accent. “I don’t deny it, I don’t dare try and change it, I use it as a strength,” he continued, laughing, defiantly. “And I don’t believe in media training, I just ignore the fact I’m on TV, I just am who I am, I talk to people like I’m talking to you now,” he said gruffly, getting on a roll. “So when e