Good morning. Gone is july: what will August bring us…? If history is anything to go by (Nasdaq only)…
http://www.bespokeinvest.com/thinkbig/2013/7/31/nasdaq-average-august-performance.html

And today is the day of the PMI deluge. It does not look too good so far…

http://www.businessinsider.com/chinese-economic-data-discrepancy-2013-7

…with especially Australia pretty weak…

http://www.businessinsider.com/australia-exports-and-orders-slump-2013-7

Not exactly new news, but still: the difference twenty years makes…

http://www.zerohedge.com/news/2013-07-31/doubling-down-all-spot-somewhat-odd-one-out

Ah yes, and those GDP revisions that were published for the US yesterday. This is the longer run change…

http://www.crossingwallstreet.com/archives/2013/07/the-government-revises-all-gdp-data.html

…and this is what the recent past actually looked like. And look: A DOUBLE DIP IN Q1 2011!!

http://www.zerohedge.com/news/2013-07-31/how-us-just-added-550-billion-growth-full-gdp-chart-pre-and-post-revision

…and no, the Americans have not started saving more, all of a sudden…
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/07/31/the-government-now-assumes-all-pension-promises-will-come-true-thats-scary/

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