Good morning. Yesterday’s shocker: ISM drops below 50! (and stocks rise because of it…)

http://www.bespokeinvest.com/thinkbig/2013/6/3/ism-manufacturing-drops-below-50-lowest-since-june-2009.html

…while Europe actually managed to produce a higher print!

http://qz.com/90211/exports-buoy-european-manufacturing-but-deflationary-pressure-looms/

An FT article on the ECB’s thinking to boost credit growth in the Euro-area
http://www.ft.com/intl/cms/s/0/b43f0962-cc63-11e2-9cf7-00144feab7de.html

It is not the great rotation, but if you had rotated out of stocks into bonds, it would have been a nice bet!

http://www.crossingwallstreet.com/archives/2013/06/stocks-over-bonds-since-the-election.html

“We were put here on earth to help others. I’m not sure what others were put here for.” Nice one!
http://www.salon.com/2013/06/02/why_are_we_here_evolutions_dirty_secrets/

Not a pretty sight to be on the top of this chart…

http://www.economist.com/news/economic-and-financial-indicators/21578669-household-debt

The BIS quarterly report takes a look at the impact of QE on financial markets…

http://www.bis.org/publ/qtrpdf/r_qt1306.pdf

Two cool charts of the US housing sector: is the glass half empty…

…or half full?

http://www.bespokeinvest.com/thinkbig/2013/6/3/march-case-shiller-housing-numbers.html

Beautiful chart showing the influence of China regarding infrastructure

http://www.ritholtz.com/blog/2013/06/building-infrastructure-chinas-global-reach/

And we end with this very interesting chart on twitter activity in Turkish

http://themonkeycage.org/2013/06/03/twitter-and-the-turkish-protests-post-weekend-update/

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