Good morning. There is still hope: the year isn’t finished yet…
http://uk.businessinsider.com/annual-returns-and-intra-year-declines-us-not-so-bad-now-2015-10

“Deutsche Bank Asks if the Corporate Default Cycle Has Started”

http://www.bloomberg.com/news/articles/2015-10-05/deutsche-bank-asks-if-the-corporate-default-cycle-has-started

And talking about defaults, how cool is this chart?

http://www.ecb.europa.eu/press/key/date/2015/html/sp151001_praet_asset_management_conference_slides.en.pdf

And talking about cool (spot the sequence!): liquidity in the 1880s!

http://www.bankofengland.co.uk/research/Documents/workingpapers/2015/swp555.pdf

Interesting variation on the normal theme

http://www.ritholtz.com/blog/2015/10/investor-sentiment-and-the-business-cycle/

Robo advisors are marketing the wrong group…

http://uk.businessinsider.com/roboadvisors-fintech-need-to-fix-millenial-problem-2015-10

Record highs

http://libertystreeteconomics.newyorkfed.org/2015/10/has-us-corporate-bond-market-liquidity-deteriorated.html#.VhPpOROqqkp

I can tell you it is not that easy to make a chart like this: is a 10% correction equal to two 5% corrections?

http://uk.businessinsider.com/stock-market-5-pullbacks-2015-10

Well, at least the real wages are going up. Whether it is a sign of tight labor markets, I wonder…

http://www.businessinsider.com/real-wages-are-rising-2015-10

Cool (in both ways) inflation heat map

http://ftalphaville.ft.com/2015/10/06/2141625/for-the-world-is-cold-and-less-full-of-inflation/

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