Best of the Web: 13-06-07, nr 784

Good morning. Ok: double or nothing: is it gonna be Abenomics, or Abeggedon..? The yen strengthened massively, overnight…
http://www.businessinsider.com/yen-surges-most-in-3-years-2013-6

 

And to put it into historical perspective…
MF87MFB5uXHrrk_sDoOyqea43xq0MK8kSYaUgJaedm5YXDsLt_RciNL0agqCszVl_wqo9cdM4PoFS2MvCSytnbSw9AqXJj0Z2qY5GBjGtZJF2-N7GyFifcH4Jg
http://www.zerohedge.com/news/2013-06-06/biggest-usdjpy-crash-three-years

 

Emerging Markets are having a tough time right now…
CHEzptsjJ6YASHJ4RAxXbTSu7DIdQz4bviul91Mafck-XBh5NrjwDOYupP-N-L2BG8u0GOreBB3HMYzkT_ZiQ0d0Z66OO9lx5inGn2zD8PiLCV577hyLdCXEGg
http://blogs.ft.com/beyond-brics/2013/06/07/snap-em-fund-flows-a-painful-correction/

http://www.economist.com/news/finance-and-economics/21579021-sell-emerging-markets-should-not-obscure-their-attractions-out-favour

 

Momentum strategies (buying the winners), works, even if markets go down
JdKyckKfJhtHZSHnqsNJxq5c7LVFN4XrPIGcucoTqchbyGYsTBnzCiQ1Ofmjz2LiA88TqZ3Y5mXXjzcdN6FOYEOe6RNhxS82IqG_pcnxDoVVEutjQFFrfn978A
http://www.bespokeinvest.com/thinkbig/2013/6/6/not-your-run-of-the-mill-sell-off.html

 

Nice bit of reading by @Pawelmorski on bubbles: Yada yada QE yada debasement yada yada tulips
http://pawelmorski.com/2013/06/05/bubbles-how-i-learned-to-stop-worrying-and-love-the-bond/

 

Ah yes: US households just got wealthier than ever before! (probably not if you divide it by population. or take out the 1%…)
kkgGmFI7025jmwh_8jm_6rrqGqapyGzZBUYCYjAO4fWxvQzEDpBCJKhB4pAibY7ORCq9k3dk6vjk4ROGccN6aH4qjcCeUn-nRNy6Tl0OMIkaZ8Qwc0bNbrzuQA
http://www.zerohedge.com/news/2013-06-06/us-household-net-worth-hits-record-rises-333-billion-each-day-first-quarter

 

…but this picture clearly tells another story (even though I think it is unfair to take the decline at the begining)
eURV_Q69vBQgOdA-eFogA6sqpsJxnNMCl1owg3Y7bW9H7gZ22f-Hp_dSUbLQpdxsKZVmOTeyG5bNv665Nm79ZOaKduRSVNjdG-GeqxN1C9tqfBxz4cCkJ-wT3g
http://blogs.wsj.com/economics/2013/05/31/how-does-income-growth-compare-to-other-recoveries/

 

Looking at the growth projection of the ECB, things will brighten before long!
-ieh4FwDV_6_AXsVSg8d-6NpHZi3uU9U3170TimNWipDVGWSaViV-cjMakQmM7gucxu8nexP-Li_WxgU-Q3KA_JUvxGHXnmNS14LeW-f2HY2IoDKA3lfNU-ZDg http://www.ecb.europa.eu/pub/pdf/other/eurosystemstaffprojections201306en.pdf

 

Ok, if this relationship holds, the flat earnings outlook does not bode well for business investments…
4s9zalYf-bKlvjX0-EwfPJv7nyUa5WLFW-260jQup2sLnfGDg7HOBZ3EuVqi3aQKHAnrj_QZAUwW5KaDX60kaAkW3RdVQBSamvcL55LA568YtuQLdk-duu_RHQ
http://www.businessinsider.com/albert-edwards-warns-of-bea-earnings-data-2013-6

 

A complete overview of all previous editions of Best of the Web can be found hereĀ http://tinyurl.com/c8ge4c5. All links provided are collected from public websites, unless otherwise specified. I have not checked the data or information for accuracy used, and therefore do not guarantee that all data provided will be 100% correct. The links provided do not necessarily reflect my personal opinion and should be seen as general interest: oftentimes I do not agree with arguments presented, but nevertheless think it is worthwhile to read them. It is up to the reader to make up their own mind. Suggestions or discussions are more than welcome. Do not quote unless specifically cleared beforehand!

 

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