Good morning. A couple of nice examples of Chinese stubbornness…

http://qz.com/116060/china-nail-houses-cause-construction-delays-and-strange-twists-in-roads/

Best of last week. Easy way to get up to date for all those returning from holiday 

https://lukasdaalder.com/2013/08/17/best-in-economics-this-week-august-16/

Nice one: Emerging Markets are being exposed to three threats and it hits them on different levels

http://www.ritholtz.com/blog/2013/08/headwinds-for-emerging-markets/

“More Than Meets the Eye: Some Fiscal Implications of Monetary Policy” Should be interesting…
http://libertystreeteconomics.newyorkfed.org/2013/08/more-than-meets-the-eye-some-fiscal-implications-of-monetary-policy.html

Just a reminder of how poorly bonds have fared this year (so far)

http://soberlook.com/2013/08/year-to-date-performance-across-fixed.html

Cool chart showing the maturity breakdown of bonds held by the Fed. In it for the long haul…

http://www.zerohedge.com/news/2013-08-16/what-fed-owns-complete-treasury-holdings-breakdown

Oh, and any company active in the mortgage refinancing business should start to look for other work…

http://soberlook.com/2013/08/mortgage-refinance-boom-ending.html

The news is from last week, but the chart is still worth to look at: how foreigners are exiting US Treasuries

http://www.businessinsider.com/foreign-investors-exit-us-treasuries-2013-8

What US firms are doing with their cash. Less buybacks, apparently!

http://www.zerohedge.com/news/2013-08-17/what-corporations-spend-their-cash

Interesting chart showing how broad based the rally in stocks has been. And how it is now declining…

http://www.businessinsider.com/markets-gains-concentrated-in-fewer-stocks-2013-8

Study into the poor performance of the European labour markets

http://www.imf.org/external/pubs/ft/wp/2013/wp13179.pdf

And the schedule for the week to come, as always
http://www.calculatedriskblog.com/2013/08/schedule-for-week-of-august-18th.html

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