Good morning. Ah well, yes. The sell-off in bonds continued, thanks to Bernanke…
http://www.businessinsider.com/bernanke-on-rising-rates-sparks-sell-off-2013-6

The Fed has updated its expectations for the future. First rate hike: 2015

http://www.businessinsider.com/federal-reserve-fomc-forecasts-2013-6

And here some background on the track-record of the Fed’s forecasts: triumph of the optimist…

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/06/19/this-graph-shows-how-bad-the-fed-is-at-predicting-the-future/

Wasn’t is the report of the weak Chinese PMI report that marked the top in the Nikkei? Guess what, it declined even further…

http://www.businessinsider.com/june-hsbc-china-flash-pmi-2013-6

Shale oil and gas. Enough already: there is plenty to go around….

http://www.zerohedge.com/news/2013-06-19/us-no-longer-king-shale-oil-gas

Although this chart is probably true, it only applies to the US…

http://www.ritholtz.com/blog/2013/06/time-is-on-your-side/

…which also applies for this chart. What’s missing here is the volatility…

http://www.ritholtz.com/blog/2013/06/the-cost-of-cash/

You may have seen this one before, but it is a very nice clip on the US/Canada border

A pretty complicated chart, trying to show that the first rate hike is now expected in 2015. Don’t ask me what the 1,2 and 3 years lines are, though…

http://www.zerohedge.com/news/2013-06-19/fomc-scenarios-and-whats-priced

Another interesting clip on the development of the Chinese yuan…

http://www.economist.com/blogs/graphicdetail/2013/06/daily-chart-11

I sort of looked through this study, but it does not capture the full meaning of HFT. The fact that there is no profit for HFT traders is a pretty simple tell-tale sign…
http://www.huffingtonpost.com/2013/06/18/high-frequency-trading-profits_n_3459497.html

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