Some things I’m reading this morning:

  • Summary of yesterday’s stock market action (IBD)
  • Europe’s summer just got a lot less relaxing (NYT)
  • Bears are back according to a recent Bespoke poll. Of course this is a classic contrarian indicator–when investors are pessimistic, the theory goes, stocks rise (Bespoke)
  • Monday’s reading on the Chicago Fed National Activity Index was below trend in June (CalculatedRisk)
  • Even as the previous post is clearly deflationary, the fact that certain commodity prices have risen puts the Fed in a difficult spot.  See attached link for a chart of those commodities, as well as gold (MacroMonitor)
  • David Rosenberg on a modern day depression or Dow 20,000 (ZeroHedge)
  • Two bond market heavyweights have differing views on the direction of Treasury bonds.  Bill Gross likes ’em.  Remember, last summer Gross didn’t favor Treasury bonds and missed out as they rallied (InvestmentNews)
  • It appears that economists favored economic stimulus. Based on the track record of economists, not sure if this works in the pro-stimulus camp’s favor or not? (UniversityOfChicago)
  • An excerpt from Frank Deford’s autobiography: a better writer than player (ESPN)
  • For out-of-town, suburbanite or city dweller [with young children] readers, Anthony Bourdain’s best spots for one night in Chicago (ChicagoMagazine)