Hope all goes well… Markets sprang to life. So I dusted off an anecdote on impatience, timing and dragons (see below). Back in Sept with full weekend notes. Week-in-Review: Mon: PBOC chief economist “expect 2-way CNY price action,” Japan Q2 GDP -1.6% yoy (first fall in 3 qrtrs), Saudi Arabia non-oil exports -21.1% yoy (record low), Russia IP -4.7% yoy, Turkish nationalists reject Erodgan’s coalition plan (unemploymen

Week-in-Review: Mon: Chinese exports -8.3% yoy (CPI +1.6%), Japan current account surplus for 12th mth (consumer confidence -1.4 to 40.3), Sweden industrial orders +11.8% (strongest since 2011), Norway CPI +1.8% yoy (lowest since May 2014), Russian Q2 GDP -4.6% (car sales -27% yoy), Mexican wage growth +4.8% yoy, US Fed labor mkt conditions +0.3 to +1.1, Fischer hints no Sept hike, S&P +1.3%; Tue: China devalues

Hope all goes well… Dusted off an old anecdote on China (see below). See you again in September with full weekend notes. Week-in-Review: Mon: Chinese exports -8.3% yoy (CPI +1.6%), Japan current account surplus for 12th mth (consumer confidence -1.4 to 40.3), Sweden industrial orders +11.8% (strongest since 2011), Norway CPI +1.8% yoy (lowest since May 2014), Russian Q2 GDP -4.6% (car sales -27% yoy), Mexican wage gr

Hope all goes well… “You need to go to the bank,” ordered Ida, in her trademark General Patton. “Take out $3,600 of cash to cover your apartments and guides in Rome and Florence,” she continued, in a tone that warned: don’t you dare screw this up, land in Europe without enough ammo, and radio for a rescue. “Ida, that’s ridiculous, surely they take credit cards, it’s Italy not Ethiopia.” But apparently it’s headed tha

Week-in-Review: Mon: China manufacturing PMI 50 (exp 51.0), China new export orders 47.9 (down from 48.2 in June – lowest since June 2013), Korea exports -3.3% yoy (exp -6.8%), EU manufacturing PMI 52.4 (exp 52.2), Greece manu PMI 30.2 (previous 46.9, largest fall on record), UK manu PMI 51.9 (exp 51.5), Swiss manu PMI 48.7 (exp 50.5), US personal income +0.4% (exp +0.3%), personal spending +0.2% (exp +0.2%), ISM man

“Should have seen it coming, but we’re scientists,” he said. “The first study estimated America faced a 70 gigawatt deficit by 2030 to meet new commercial real-estate needs.” Seven years later they estimated a 30 gigawatt surplus – a 100 gigawatt swing. “Landlords are earth’s cheapest people and have long time horizons. They’re introducing energy-saving efficiencies in old buildings faster than they build new o

Overall: Mullah Omar died, blind to his abomination. An astronomer saw an aurora, one million times brighter than our northern lights, on a brown dwarf 18 light years away. India hanged the 1993 Mumbai bomber, his neck snapped. Facebook announced plans to bring internet connectivity to remote corners of the world using solar-powered drones, transmitting data using lasers that can hit a dime 11-miles below. One of fiv

Hope all goes well… “I meant to do that,” said Osama bin Charlie, blushing, picking himself up off the ground. His bike lay there, tire spinning. Knee red, skinned. Determined not to cry, he lifted it, proud. In a flash, I recalled a day a 40yrs ago, a bike wreck, and the pride of picking myself up. First of my many falls. “Of course you meant to, little man.” And on we rode, the two of us. Overall: Mullah Omar died,

Week-in-Review: Mon: China property prices extend rebound (70-city price index +0.3% m/m), Gold gaps through recent lows, RBNZ Keys acknowledges the speed of NZD fall, Athens repays E6.8bln to creditors, Greek banks reopen with E240/week withdraw limit, Hollande calls for creation of an EU gov’t, German PPI -1.4% yoy, EU May current account +E18bln (prev +E22.3bln), S&P +0.1%; Tue: China FDI +0.7% (exp +5%), BOJ

Hope all goes well… “We failed at the highs and volatility barely budged,” said Yoda, high in the Rockies. “There were no outside forces pushing prices, just US earnings,” continued the largest S&P 500 local, winding his way upward, through fields of granite boulders, each the product of an ancient little crack. “The market fell even with Google and Amazon surging to historic highs.” And Yoda sat in the shadow of