Good morning. And here is the impact of the retail sales number!

http://uk.businessinsider.com/atlanta-fed-gdpnow-tracking-update-2015-6

US household net worth at a new high

http://www.wsj.com/articles/americans-net-worth-hits-high-of-84-9-trillion-1434038401

So much for the guidance we can get from the Shiller PE…

http://uk.businessinsider.com/shiller-pe-versus-subsequent-3-year-real-equity-returns-2015-6

The last tightening cycle the Fed managed to surprise the market most of the time (although I am suspicious on the choice of the dotted lines)

http://uk.businessinsider.com/market-pricing-on-fed-rate-hikes-2015-6

Credit Suisse plays the Bubble card…

http://uk.businessinsider.com/credit-suisse-there-is-a-60-70-chance-that-a-bubble-could-form-2015-6

Interesting: cash holdings at asset allocation funds at a high level. Liquidity buffer?

http://ftalphaville.ft.com/2015/06/11/2131653/shaken-rotated-positioned/

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