Good morning. Migration around the world. There is only one block that is isolated…

http://qz.com/192440/where-everyone-in-the-world-is-migrating-in-one-gorgeous-chart/

Yet another weak month looking at credit lending in the Eurozone…

http://www.zerohedge.com/news/2014-03-27/bring-out-your-toxic-sludge-european-private-sector-loan-creation-record-low

Certainly worth the read: five mysteries on Zimbabwe
http://blogs.ft.com/beyond-brics/2014/03/27/five-mysteries-in-zimbabwes-deepening-crisis/#axzz2xC9TNjQb

So, that consumer spending surge ahead of the tax hike in Japan? It was hit by snowstorms (so far)

http://www.zerohedge.com/news/2014-03-27/jpy-confounded-abe-cornered-inflationspending-dilemma
http://www.reuters.com/article/2014/03/28/us-japan-economy-idUSBREA2R03P20140328

While we are on the subject of Japan, some interesting thoughts: “What cannot go on for ever will stop”

http://blogs.ft.com/andrew-smithers/2014/03/japan-must-cut-depreciation-allowances/

The Economist has also some pointers on that subject

http://www.economist.com/news/asia/21599825-tax-goes-up-while-recovery-remains-fragile-big-squeeze

In case you think last week’s statement by Yellen has shaken the bond market: think again

http://www.zerohedge.com/news/2014-03-27/30y-treasury-yield-tumbles-under-35-lowest-9-months

This helps?

http://www.ritholtz.com/blog/2014/03/nomura-ukrainian-political-uncertainty/

Ah! A contrarian sound? Chinese shadow banking actually pretty small, according to UBS

http://www.businessinsider.com/chinas-shadow-banking-sector-is-small-2014-3

Shocking chart…
http://www.economist.com/blogs/graphicdetail/2014/03/daily-chart-19

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