Good morning. Trump managed to strike the right tone at the convention…

https://www.bespokepremium.com/think-big-blog/trump-vs-clinton-realclearpolitics-poll-tracking/

In case you had wondered, here is why: “Why Uncertainty Isn’t the Real Threat for Markets”

http://www.wsj.com/articles/why-uncertainty-isnt-the-real-threat-for-markets-1469605772

Well, that is one leading indicator that is pointing down…

http://ftalphaville.ft.com/2016/07/27/2171047/today-in-circularity-and-potential-leading-indicators/

Yesterday the chart, today the analyses “This has implications for the “true” rate of economic growth–an aggregate-scale underestimate of 0.3%/year from this channel alone…”

http://equitablegrowth.org/equitablog/expenditure-shares-price-measurement-and-true-relative-labor-productivity-growth-in-post-wwii-manufacturing-what-the-aggregate-deta-suggest/

I am not sure whether I believe this number…

http://www.wsj.com/articles/pension-returns-slump-squeezing-states-and-cities-1469488579

Cool looking charts in this so-called External Sector report by the IMF

http://www.imf.org/external/np/pp/eng/2016/072716.pdf

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