Best of the Web: 15-09-29, nr 1302

Good morning. We are not there yet…
https://www.bespokepremium.com/think-big-blog/u-s-equity-markets-approaching-august-lows/

Liquidity, or the lack thereof in bond market funds…
rzcgtIvklgd-fvoKWGP0gwfakZeUK-xIXN556-BgfQPtuCjZU9ikAItxWIzXKHHqtCFTff1cMHjNGI5vwN8vwU5f-dKCMK2uoKSvRhws1_lXpWk7bvmT9Yiwyt6j80LEJA=s1600
http://www.ritholtz.com/blog/2015/09/a-question-of-liquidity/

And here is a bit more…
ZCzThQ4DOgyP4DSGaUzyiwlSFP0lsbxmWxa71N1qW2AtZ44t02_PXnThxaMlXhCaRBJ7FUDzoEE2jXUcexdEiYFyzMiar9rtRkaVBQ0u3GGk2tH9FBQpspU31_TDKLDs4w=s1600
http://www.nakedcapitalism.com/2015/09/wolf-richter-this-is-when-bonds-go-kaboom.html

On that Catalan election outcome
NtEma74K_3ySPA_J3dIBAnBiDMudHSM7CnaK-sd8-DbtEKhcfiB9pA5Ry2DivJ0BWvdaEA1IEa2h6l-wT1ax4ba9nij5-CmtLGPMbjUbixhgT_aAZTQyyK7wg6uFJLdwq58=s1600
http://www.economist.com/blogs/graphicdetail/2015/09/daily-chart-17

I am not a strong believer in this, but apparently, bearishness has reached a record high. Which is positive.
5ZCovms7Ij_gp7BGp76XnmfgbFm__FTj0NO5bOAhs8pxQzgwRmJNp3ajk5rQcFDeNYuZ9pm6JpXYIIh33JcRFuRVYmLXSX2iIjB099fMk54SqBPFN5lvk0VnuF5IVEakAA=s1600
http://www.marketwatch.com/story/stock-investors-havent-been-this-bearish-in-15-years-2015-09-25

Leverage in the oil producing sector: market cap has declined, debt hasn’t
mLZlCDlb0uk_Fnxnsj3ROPs8aznHiq9afjR8fE85JLUulTT2Oh2cbOCJ_r0CAPPyvIKqnvkz2QzeV44ku8gDdSkQaCFC9WeGQdJDcn4O0Gi1wMcT2TOb7PUG1Aj5bsWzHQ=s1600
http://ftalphaville.ft.com/2015/09/28/2140986/a-history-of-leverage-and-the-mining-industry-2010-2015/

A bit of reading from the IMF on neutral interest rates in the US
Qie2E0H6z2H5M36EWKFRUozplCTuwbX7fhBAe91PPYpNI0Fj8ica6I15JIbypnZI5u2DwswCHhDKNbJP5XwFn6KRnxAFlNy9JnTj-nFbnBpn9xl4hXFC5nsfs7n636x9=s1600
http://www.imf.org/External/Pubs/FT/irb/2015/03/index.pdf

If you selling stuff on Ebay: don’t gp for the round numbers, it appears
mUwKhtD4Ji11FToTLd9csMEu3CPSxl85hv_hpLD4lR9SZcP8Ju-YHDlHYfVrZEUJDehr8lAPAZH7jni7iPPwptoJ_I0UzWcTeg31R-Av1VeKVAru1hwjiKjU4AxCivO8zg=s1600
http://economistsview.typepad.com/economistsview/2015/09/cheap-talk-round-numbers-and-signaling-behavior.html

The rich are better investors? Well, this piece of research tries to prove it, at least
sophisticated investors
http://www.bloombergview.com/articles/2015-09-25/the-rich-are-different-they-re-better-investors

Which market is leading the others and is there a change over the years?
_emTXAKSzNpXSRX4oyTcG_xYdaVV5u5N5CTkfhHwBvu4vWeS1WNZMB7uvHQZMoX2yAyg5eczsq00HUaNucvtHtXZ6_NyHEd8fdaR8m_fzr9E_OC-1zLerpi2GcN0UEmaQQ=s1600
http://uk.businessinsider.com/there-is-one-market-everyone-pays-attention-to-2015-9

I have shown a different version of this chart last week, but here you go: US consumer is more important than the whole of the Chinese economy
BH-70hJG2gaLu4YlDaotyf-kuyUXCb4YLR3FlHXkgTxBq9yL4FmfcUMtwrxwWGlId2Uo6-RAdaYbwYv7pohuR973NJMldd_9aQLWudz2xLVY6TknhTqLvEM3Z26sQ1kEIQ=s1600
http://uk.businessinsider.com/bulls-excited-us-consumers-despite-china-2015-9

A complete overview of all previous editions of Best of the Web can be found herehttp://tinyurl.com/c8ge4c5. All links provided are collected from public websites, unless otherwise specified. I have not checked the data or information for accuracy used, and therefore do not guarantee that all data provided will be 100% correct. The links provided do not necessarily reflect my personal opinion and should be seen as general interest: oftentimes I do not agree with arguments presented, but nevertheless think it is worthwhile to read them. It is up to the reader to make up their own mind. Suggestions or discussions are more than welcome. Do not quote unless specifically cleared beforehand!

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