Good morning. This looks pretty strong…

http://www.businessinsider.com/stock-market-compared-to-pmi-2017-5

And here is another strong link…

http://www.businessinsider.com/fed-meeting-statement-why-economic-slowdown-transitory-2017-5

Europe is overtaking the US on various measures…

http://www.economist.com/blogs/graphicdetail/2017/05/daily-chart-1

Haven’t read this, probably should. “is capital the answer to Germany’s current account surplus?”

http://bruegel.org/wp-content/uploads/2017/04/PC-12-2017_2.pdf

Globalization, the long view

http://www.bradford-delong.com/2017/05/globalization-in-the-crosshairs-trade-jobs-inequality-globalization-robots-ii.html

Fed balance sheets projections!

http://www.businessinsider.com/charts-that-shed-light-on-the-feds-mysterious-45-trillion-portfolio-2017-5

Apparently the decline in the VIX is the weird one out there…?

https://ftalphaville.ft.com/2017/05/03/2188230/its-really-very-quiet-out-there/

And this was one month for the active managers

http://www.businessinsider.com/large-cap-managers-stock-pickers-outperformance-2015-2017-5

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