Good morning. A small overview which may be handy when we start writing our end-of-year reports… 

http://www.businessinsider.com/why-stocks-rally-amid-panic-2014-10

The bank of Japan ups its QE-game unexpectedly

http://www.zerohedge.com/news/2014-10-31/markets-explodes-bank-japan-goes-all-er-increases-qqe-jpy-80-trillion

The strong US GDP report

http://www.bespokeinvest.com/thinkbig/2014/10/30/advance-q2-gdp-beats-expectations.html

Stock ownership distribution in the US

http://blogs.wsj.com/economics/2014/10/27/who-owns-stocks-its-not-just-the-rich/

Summers has some more thoughts on secular stagnation. Or is it the thing on repeat?

http://www.voxeu.org/article/reflections-new-secular-stagnation-hypothesis

For all yea investment managers: keeping volatility constant (paywall)

http://www.economist.com/news/finance-and-economics/21629565-new-strategy-reduces-pension-funds-risks-it-has-cost-eliminate

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