Good morning. Still some way to go before we are in recession territory

http://uk.businessinsider.com/markets-chart-of-the-day-january-15-2015-1

The big news of yesterday: the Swiss central bank abandons the peg with the euro…

http://uk.businessinsider.com/swiss-national-bank-loses-60-billion-francs-2015-1

As for the decision of the Swiss Central Bank, there are certainly going to be ripple effects…
http://www.bloomberg.com/news/2015-01-15/polish-banks-zloty-slump-as-swiss-franc-mortgages-get-expensive.html

My response to that ‘bearish’ chart for equities published earlier this week

https://lukasdaalder.com/2015/01/15/chart-for-the-bears/

The first rate hike is being pushed back into time…

http://www.bespokeinvest.com/thinkbig/2015/1/15/countdown-to-liftoff-getting-longer.html

Capital flows to emerging markets are set to decline another year

http://blogs.ft.com/beyond-brics/2015/01/15/iif-sees-sharp-fall-in-em-flows/

If it hadn’t been for the big 2009 drop, I think the yellow line would have been higher, right?

https://www.bondvigilantes.com/blog/2015/01/15/europe-needs-german-fiscal-stimulus-package-wont-get/

A piece from the IMF with a somewhat weird title: Battling Global Unemployment: Too Soon to Declare Victory

http://blog-imfdirect.imf.org/2015/01/14/battling-global-unemployment-too-soon-to-declare-victory/

US mortgage markets. Buy your houses now!

www.businessinsider.com/freddie-mac-mortgage-rates-jan-15-2015-1

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