Some things I’m reading this morning:

  • Spain downgraded to one level above junk by S&P (Bloomberg)
  • One topic that came up repeatedly at the Big Picture conference: skepticism about this market & belief that it’s all being held together by the Fed (BusinessInsider)
  • Why banks shouldn’t trade (FelixSalmon)
  • Macro hedge funds stink at market timing, they’re now positioned long which doesn’t bode well for the markt (SoberLook)
  • WONKISH WARNING, but important discussion about inflation expectations (TimDuy)
  • Joe Fahmy moves to 100% cash (JoeFahmy)
  • When conservative Republicans loved Keynes and expansionary fiscal policy(BradDelong)
  • Ryan prepares to take on skilled debater Biden (AP)
  • Taliban gunman targets 14-year old girl (WSJ)
  • Matt & Kim’s ‘Let’s Go’ (FunnyOrDie)