Good morning. Cool chart: expectations for 3D printing are now the most inflated, while cloud computing should start to lift off… I’ll go for Smart Dust (I have no clue whatever that may be…)
http://www.ritholtz.com/blog/2013/08/gartman-hype-cycle-for-emerging-technologies/

Interesting column on productivity in the FT: “Yes, productivity matters – but it is not everything”
http://www.ft.com/intl/cms/s/0/a59dd84a-08d9-11e3-8b32-00144feabdc0.html

Well, I must admit that the match is better than I would have expected beforehand: better PMI = no rate cut ECB

http://www.businessinsider.com/eurozone-pmi-headache-for-ecb-2013-8

And here is another pretty tight fit (for as long as it lasts): rising Treasuries versus Emerging Markets currencies…

http://www.businessinsider.com/this-chart-of-interest-rates-and-emerging-market-currencies-is-everything-2013-8

IT IS THE RETAILERS WHO ARE SELLING EMERGING MARKETS!!! (big deal)

http://online.wsj.com/article/SB10001424127887323980604579027222952335770.html

Interesting IMF report showing the erratic nature of capital flows…

http://www.imf.org/external/pubs/ft/wp/2013/wp13183.pdf

Interesting divergence in the Gallup poll and unemployment. Not sure whether there is a correlation though…

http://www.zerohedge.com/news/2013-08-22/bls-we-have-problem-polled-unemployment-soars-march-2012-levels

Whether it is useful or not, I am not sure (I do not believe TIPs actually reflect inflation expectations for example, but nevertheless a brave attempt by the Fed to

http://libertystreeteconomics.newyorkfed.org/2013/08/creating-a-history-of-us-inflation-expectations.html

Nice one for some historical perspective: the stock performance of the Bank of England

http://www.ritholtz.com/blog/2013/08/complete-histories-bank-of-england-to-1694/

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