Good morning. And…. Europes is back to growth again! Or at least that is what the PMIs seem to suggest…
http://www.businessinsider.com/eurozone-pmi-2013-8

…but the real shocker was for the US: the ISM recorded a massive increase, sending US stocks to a new all time high!

http://www.bespokeinvest.com/thinkbig/2013/8/1/ism-manufacturing-spikes-to-highest-level-since-june-2011.html

July performance. And the winner was….

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/07/July%20Return.jpg

The spillover report… Well, you can certainly say the IMF is trying to make economics more exciting…

http://www.imf.org/external/np/pp/eng/2013/070213.pdf

The Fed model was a contrarian model, according to The Economist (paywall)

http://www.economist.com/news/finance-and-economics/21582513-low-bond-yields-have-past-been-bad-not-good-equity-returns

A number of informative charts on (clean) energy and innovation from the IEA (via @PAvBoesschoten)

http://www.iea.org/etp/tracking/figures/rdd_innovation/

Interesting chart showing the impact of the implicit government guarantee on ratings for banks.

http://www.ritholtz.com/blog/2013/08/investors-believe-govt-will-rescue-tbtf-banks

Study of the Dallas Fed into the costs of the 2007-09 crisis. All calculated from the top of the bubble though…

http://dallasfed.org/assets/documents/research/staff/staff1301.pdf

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