Good morning. Interesting chart on the Great Recession
https://www.economist.com/news/finance-and-economics/21732529-governments-skilfully-tackled-symptoms-not-underlying-disease-decade

“Corporate leverage in EMEs: Did the global financial crisis change the determinants?”

https://www.bis.org/publ/work681.pdf

Why is everyone assuming that higher short rates will not push long yield up…?
https://pro.creditwritedowns.com/2017/12/yellen-the-relationship-between-the-slope-of-the-yield-curve-and-the-business-cycle-may-have-changed.html

Emerging markets are hot

http://ritholtz.com/2017/12/emerging-markets-best-gains-8-years/

In fact: “Emerging markets are back”

https://www.bloomberg.com/news/articles/2017-12-12/the-hot-spots-that-defined-a-year-of-emerging-market-ebullience

This chart has probably been true for any generational breakdown

http://www.businessinsider.com/the-tech-companies-in-payments-report-2017-12

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